This section of the Manual contains important information regarding the use of the CENTURY 21 Logo, marks, Company Name, and symbols.

Logo Library The CENTURY 21 System currently enjoys tremendous name recognition with the public. The information in this Franchise Identity System section is part of your Franchise Agreement requirements. Often referred to as, "The Logo Book," the Franchise Identity System is used to continue to project a uniform identification system for CENTURY 21 Franchisees that is instantly recognized by the consumer. Deviations from these standards and formats weaken our collective image. Therefore, changes may not be made without the written consent of Franchisor. Merrill's Marketing Solutions The new online tool allows users to customize print marketing materials to attract potential buyers and sellers, which incorporates two different functionalities that can help users create collateral quickly and professionally. GENERAL POLICY This section of the Manual contains important information regarding the use of the CENTURY 21 Logo, marks, Company Name, and symbols. Policies as described in this section should be reviewed carefully by the Franchisee, and are applicable for all forms of usage as described in this Manual. The Logo The Logo must always contain the following four elements arranged in the approved proportions shown and without any alterations whatsoever. The word, "Century" in Avant Garde Bold type style. The numeral "2" almost touching the "y" of "Century." The registered service mark designation, " ", at the bottom right of the "1". The distinctive house graphic symbol positioned below the word "Century," to the left of the "21" with both the house and the numbers in alignment. Logo Usage Company Name The Company Name of each CENTURY 21 Office is set forth in each Franchise Agreement. As defined here, the Company Name includes the words, "CENTURY 21," and the individual Office Identification. Except for signage obtained prior to July 1, 1998, whenever your company name appears with the words

"CENTURY 21" you must use the disclaimer, "Each Office Is Independently Owned And Operated." Only the Office Identification and disclaimer can appear beneath the Logo. No additional words or design features may appear between the Logo and the Office Identification. The Office Identification alone may not appear to the side of the Logo. Incorrect: The Office Identification must be in upper and lower case on all signage, business cards, advertising, marketing, promotional, and stationery products. On products where the production process will not accommodate upper and lower case, all caps may be used (i.e., name badges, ad specialties). When the Company Name does not include the Logo, the "CENTURY 21" must appear in all capital letters, followed by the Office Identification in upper and lower case. Correct: Incorrect: Incorrect: 5:1 Ratio A "5:1 ratio" formula has been designed to achieve maximum effectiveness and consistency whenever the Logo is used with an individual Office Identification. This means that the total height of the Office Identification directly beneath the Logo must be able to fit into the height of the Logo exactly five times, even if the Office Identification takes up more than one line. Correct: 5:1 Ratio Color

For guidelines on the use of color with the Logo, refer to the appropriate section of this Manual. Correct: Incorrect: - Vertical Spacing The distance between the bottom of the Logo and the top of the Office Identification must be equal to the width of the "1" in the Logo. Correct: Signature Alignment When the Office Identification is placed flush left with the letter "C," it may not extend beyond a distance greater than 1.5 times the horizontal width of the Logo. If the Office Identification will not fit in one line, two or more lines of equal size type may be used, however, the "5:1 ratio" must be followed without exception. Unless otherwise indicated in this Manual, the general rule is that the Office Identification appearing under the Logo in a Company Name should be placed either centered beneath the Logo, or flush left with the letter "C" in "Century 21." Horizontal Spacing When the Office Identification is centered, the Office Identification may not be greater in length than two times the width of the Logo. (Note: See sections on building signs, yard signs, misc. signage, stationery, and business cards for further guidelines on horizontal spacing.) Office Identification Centered

Office Identification Flush Left (Note: This version may not be used on signs) Correct: Correct: Note: This format has limited application. See appropriate product section for further guidelines. Incorrect: Reverse Usage Reverse usage occurs when the elements of the Company Name are lighter than the background. The space between the edges of the logo and the ouside of the color block should be at least as wide as the width of the "1" in the Logo. Reverse usage may be appropriate for binders, badges, headings for internal correspondence, classifieds, and display advertising, promotional items, and car signs. As a general rule, reverse usage should be confined to the use of any two of the primary CENTURY 21 colors: gold, black or white. For specific guidelines on reverse usage outside of these applications, refer to the appropriate section of this Manual or consult Franchisor's Franchise Administration Department.

Type Style The correct type style for the service mark, "CENTURY 21 " is Helvetica Medium. The Office Identification beneath the Logo must be printed in Helvetica Medium type style. No other type style may be used. Correct: Incorrect: Misleading Names The Company Name must not suggest to the public that the Office is national in scope, or a subsidiary of Century 21 Real Estate LLC, or its affiliates. incorrect: CENTURY 21 National Realty CENTURY 21 Investment Co. CENTURY 21 American Realty Political Subdivisions or Areas The Company Name should not include the names of political subdivisions such as states, cities, counties, or townships. incorrect: CENTURY 21 Homes of California Realty CENTURY 21 St. Louis Realty CENTURY 21 Los Angeles County Realty In addition, a Company Name will generally not be approved by Franchisor if it includes geographic identifiers.

Company Name Duplication Each Franchisee in the System should have his own distinct Office Identification. A review of the alphabetical listing of Office names in the International Directory of Offices will aid in selecting a name. Distinct names for each Office in the System reinforce the public's understanding that each Office is independently owned and operated. Conflict With Usage of CENTURY 21 Marks Names which may cause conflicts with other CENTURY 21 offices due to the use of system-related trademarks and services also must be avoided. incorrect: CENTURY 21 Investment Society CENTURY 21 Neighborhood Professionals CENTURY 21 National Referrals CENTURY 21 VIP Conflict With Other Real Estate Sales Organizations Names which may be the same as or confusingly similar to other real estate sales organizations or third parties must be avoided. incorrect: CENTURY 21 Red Rug Realty CENTURY 21 Caldwell Banker CENTURY 21 We Sell Houses CENTURY 21 X-Max Realty Company Website Yard Sign with URL Address An approved URL address may be used in the lower portion of the panel as displayed. URL address must be approved by International Headquarters (Franchise Information Services 1 (877) 221-2765 ext. 8713). For additional information, please see the "Internet Use" section in this Manual. Only 1 URL address is allowed and must be placed on a single line in lower case. Sample for the 36" x 33" sign panel specifications and dimensions. Sample for the 24" x 22" sign panel specifications and dimensions. Building Sign with URL Address An approved URL address may be used on an outdoor building sign. If you are using more than one-panel sign, the URL address may be used more than 1 time. URL address must be approved by International Headquarters (Franchise Information Services 1 (877) 221-2765 ext. 8713). For additional information,

please see the "Internet Use" section in this Manual. The URL address must be placed on a single line in lower case. Sample for the 15" x 3" sign panel specifications and dimensions. Click here to view full image. Stationery Products with URL Address An approved URL address may be used on all types of business cards. URL address must be approved by International Headquarters (Franchise Information Services 1 (877) 221-2765 ext. 8713). For additional information, please see the "Internet Use" section in this Manual. The URL address must be placed on a single line in lower case. No more than 7 lines per business card. 2 lines for address and 5 lines for phone and e-mail address. If you want to use the URL address, be mindful of the 7-line restriction. URL must be placed on a single line in lower case. Sample for the 3.5" x 2" business card images and dimensions. An approved URL address may be used on all letterhead. URL address must be approved by International Headquarters (Franchise Information Services 1 (877) 221-2765 ext. 8713). For additional information, please see the "Internet Use" section in this Manual. URL must be placed on a single line in lower case. You can use as many lines as necessary on letterhead. Sample for letterhead images and dimensions. (Not shown actual size)

Click here to view full image. Trademark Usage The trademarks and service marks within the CENTURY 21 System are important assets and are integral to our powerful worldwide image. Incorrect use of these marks diminishes their value and is, therefore, not permitted. One unit The words comprising a service mark or trademark must never be divided. correct: Training is a part of the CENTURY 21 system. incorrect: Training is a part of the CENT- URY 21 system. Training is a part of the CENTURY 21 system. Punctuation There is no punctuation between the words "CENTURY 21" and the rest of the Company Name. correct: CENTURY 21 Smith Realty incorrect: CENTURY 21 - Smith Realty CENTURY 21, Smith Realty Use of the " " Symbol The symbol is never used in a Company Name. The symbol should be displayed in conjunction with the use of all other registered marks. correct: CENTURY 21 Smith Realty incorrect: CENTURY 21 Smith Realty Requiring consistent use of CENTURY 21 marks is sound trademark management. As part of this effort, it is Franchisor's policy to ensure that the first time a mark or slogan is used on a page, it shall include the registration " " or trademark " TM " or " SM "symbol, whichever is applicable (see Approved Marks); all

Franchisees will comply with this policy. Adjective Marks must never be used as nouns or in the possessive or plural form. Each mark must be used as an adjective describing a noun. correct: The CENTURY 21 System is worldwide. incorrect: CENTURY 21 is worldwide. CENTURY 21's offices are worldwide. There are 18 CENTURY 21's in town. Abbreviation With the exception of Internet addresses, the words "CENTURY 21" must never be abbreviated to: C21 C-21 Cent. 21 C'y 21 However, you may use approved trademarks of Century 21 Real Estate LLC, such as C21 Talk Radio for the Real World SM. Sentence Usage Slogans or logos must never be used as a part of a sentence except in the correct manner shown below. They must always stand alone. correct: That is why the CENTURY 21 System can use the slogan, "Real Estate for the Real World ", and no one else can. incorrect: You can put your trust in "the Real World" when you go to your local CENTURY 21 office. Capitalization The Service mark, "CENTURY 21" is capitalized whenever it is used in a Company Name. correct: CENTURY 21 Ace Realty incorrect:

Century 21 Ace Realty * "Century 21" is not capitalized in the International Headquarters trade name of Century 21 Real Estate LLC. Internet Usage Intro/Overview CENTURY 21 is the most recognized name in real estate*. To keep the brand strong and healthy, it is crucial that it always be represented correctly and consistently. Whether you're creating a site for your company, your team, or yourself, you must follow International Headquarters name and trademark guidelines. In addition, company and office Websites must comply with the CENTURY 21 Policy and Procedure Manual. This section uses a fictional company in Parsippany, NJ ("CENTURY 21 Gold Team Realty"), a fictional Sales Associate (Jane Smith) and a fictional Internet Service Provider ("Webx") to show you how all these guidelines apply on the Web. *Source: 2004 Ad Tracking Study. The survey results are based on 1560 telephone interviews (via computer assisted program) with a national random sample of adults (ages 25-52) who have either bought or sold a home within the past two years or plan to purchase or sell a home within the next two years. Brand awareness questions are based on a sample of 1560 respondents with a margin of error of +/- 2% at 90% confidence level. The study was conducted between January 11th-October 2nd, 2004 by Millward Brown, a leading global market research organization. Establishing Web Addresses When most people refer to the "address" of a Web site, they're talking about its domain name. In order to connect a particular domain name to your Web site, you must first register that name, pay a registration fee, and provide certain administrative and technical contact information. See http://www.internic.net/regist.html for a complete list of accredited registrars. Registering a domain name is easy, but picking a good name can be tricky. For optimal usability, a Web site address should be short, meaningful, easy to spell, and easy to remember. Also, since many people will guess at a Web address, it should also reflect your business identity - a DBA for a company or office site, (such as CENTURY 21 Gold Team Realty), or a personal name for an individual site (such as Jane Smith). This is true both for unique URLs (e.g., www.century21goldteamrealty.com or www.janesmith.com) and for subdirectory addresses (e.g., http://www.webx.com/century21goldteamrealty or http://www.webx.com/janesmith). If you are establishing a Web address for a company or office site, and intend to use the CENTURY 21 brand name in that address, make sure you do so correctly. In your domain name, you may use: 1. Your full approved company name (e.g., www.century21goldteamrealty.com or http://www.webx.com/century21goldteamrealty)

2. "c21"as three consecutive characters* (e.g., www.c21goldteamrealty.com or http://www.webx.com/c21goldteamrealty) 3. A modification of your approved company name* (e.g., www.goldteamrealty.com or www.gtr.com or http://www.webx.com/goldteamrealty or http://www.webx.com/gtr) *Note that #2 and #3 are acceptable in a domain name only, NOT in the content of a Web site! All other references to the brand name must always spell out CENTURY 21 correctly, and must use the full approved company name (i.e., CENTURY 21 Gold Team Realty). Geographic Identifiers With more than 8,000 franchisees and over 147,000 sales associates around the world, it's inevitable that some companies and individuals will have duplicate names. Locally this isn't a problem, but on the Web it can be tricky. If you are creating a company or office Web site, and duplication of names is a concern for you, you may want to include your geographic location (city and state) in your domain name. For example: Acceptable: http://www.realtycomposer.com, www.c21goldteamrealtyparsippanynj.com, www.goldteamrealtyparsippanynj.com, www.webex.com/century21goldteamparsippanynj, www.webx.com/c21goldteamparsippanynj, www.webx.com/goldteamparsippanynj.com Unacceptable: www.century21parsippanynj.com www.c21parsippanynj.com http://www.webex.com/century21parsippanynj www.webx.com/c21parsippanynj If you intend to use CENTURY 21 or C21 with a geographic identifier in your domain name, you may only refer to the CENTURY 21 brand if you include your company name (e.g., www.century21goldteamrealtyparsippany.com is acceptable as is www.c21goldteamparsippany.com). Avoiding Confusion It is important to avoid confusion between Century 21 Real Estate LLC and its franchisees and sales associates, and to distinguish the CENTURY 21 brand from other real estate brands. This means that in your domain name, you should never separate the CENTURY 21 brand name (century21 or c21) from the rest of your address by placing it between two dots or between two slashes. Unacceptable addresses might include: www.c21.goldteamrealty.com http://www.realtycomposer.com

http://www.webx.com/goldteamrealty/c21/ http://www.webx.com/goldteamrealty/century21/ You should also be careful not to use Web addresses that are similar to any of the CENTURY 21 trademarks, service marks or slogans. The following would be unacceptable: www.goldteamfinehomesandestates.com www.goldteamrealtyforyourworld.com http://www.webx.com/gtrconnections http://www.webx.com/goldteammaturemoves Finally, to keep your brand identity distinct, avoid including marks or slogans of other companies in your Web address. For example, you should not create an address like the following: www.c21remax.com http://www.century21goldteamrealty.com/prudential http://www.webx.com/c21gmac Electronic Content PLEASE REMEMBER TO REVIEW THESE RULES EVERY TIME YOU MAKE ANY CHANGES TO YOUR WEBSITE Advertising on the Internet. The Internet is just another advertising medium in which the CENTURY 21 marks and slogans must be presented in a consistent manner. Each Franchisee is solely responsible for the information and other content which such Franchisee chooses to make available on 21 ONLINE, or any Home Page or other online service. Accordingly, each Franchisee should consider carefully what information and other content is permissible to be reproduced and displayed in accordance with applicable trademark, copyright, patent, and other laws. In addition, each Franchisee must adhere to all restrictions (including CENTURY 21 System restrictions and applicable local laws) governing the accuracy and presentation of advertising and the promotion of its business on the online services and the Internet. Franchisor reserves the right to disapprove and deny access to any Franchisee whose Internet Website contains content which violates the CENTURY 21 Franchise Identity System or otherwise threatens to damage the CENTURY 21 service mark. Brand Usage Guidelines In addition to following International Headquarters guidelines in creating your Web address, you must also represent the CENTURY 21 brand correctly in the actual content of your site and the logo must always be

used on the home page. Make sure you follow these nine unbreakable rules: The modern home logo must never stand alone. Your approved name must always be placed below the logo. It should follow the "5-to-1 ratio rule," meaning that the logo should be five times as large as your approved name. "CENTURY 21" must appear in all capital letters, unless it refers to the corporate entity ("Century 21 Real Estate LLC") or the mortgage company ("Century 21 Mortgage"). This is true anywhere in the body of the Web site, in the browser window's title bar. The words CENTURY 21 cannot stand alone. "CENTURY 21" is a descriptor, not an individual entity. Therefore, it must always be followed by a modifier (i.e., "as part of the CENTURY 21 System," NOT "as part of CENTURY 21 " or "come join the CENTURY 21 System," NOT "come join CENTURY 21 "). "CENTURY 21" should not be allowed to break across lines. Use the non-breaking space character ("&nbsp" in HTML) to make sure the brand name stays together. Anytime you refer to the "CENTURY 21 System," you must use the approved spelling. The "S" in "System" must be capitalized, and the registered trademark symbol " " must appear between the "21" and the word "System." Anytime it appears outside your approved name, the CENTURY 21 brand name must contain the registered trademark symbol " ". The symbol should appear immediately after the 21 (e.g., CENTURY 21 ). Your approved name must always begin with the words "CENTURY 21." Your company name should follow the capitalized brand name (e.g., "CENTURY 21 Gold Team Realty"). DO NOT include the registered trademark symbol " " in your approved name. All awards must be identified with a date. When noting achievements, be sure that the corresponding date that the award was achieved is noted (e.g., 2003 CENTURION, 2002 GOLD MEDALLION, 2001 Quality Service Award, etc.). All trademarks, service marks, and slogans must be used correctly. Whenever you refer to awards, CENTURY 21 programs, slogans, etc., be sure to use the approved symbols. International Headquarters Trademark List Century 21 Real Estate LLC is the licensee of many trademarks and service marks that must be protected. Make sure that your Web content uses the following names and marks correctly:

CENTURY 21 Fine Homes & Estates CENTURY 21 MatureMoves CENTURY 21 Recreational Properties SM CENTURY 21 Commercial CENTURY 21 New Construction Artwork / Graphic Images Artwork and graphic images help make your site attractive and engaging, but there are a few rules you need to keep in mind when using them. A large selection of logos and other CENTURY 21 graphic images are available on CENTURY 21 Ad Studio under Merrill's Marketing Solutions. The CENTURY 21 artwork is approved for your unlimited use, but may not be altered or modified in any way. You may also use other artwork or graphic images to enhance your Website. However, images that you did not create may be subject to trademark, copyright, patent, or other laws. You are responsible for securing any necessary permissions to use images or artwork on your site. Since your Website promotes your business, it is also subject to online advertising regulations. Make sure you present information accurately and follow local and national laws, and, in the case of company or office sites, follow the restrictions of Century 21 Real Estate LLC. Finally, graphic images can sometimes interfere with the usability of your site. Make sure you follow the recommended best practices for useful graphic images. Mandatory Disclaimers Office, Company, Team, and Individual Websites must contain disclaimers on every page. Disclaimers are most often found at the bottom of the page. Make sure each of your pages includes the following: "Each Office Is Independently Owned And Operated." " 2007 Century 21 Real Estate LLC. CENTURY 21 is a registered trademark licensed to Century 21 Real Estate LLC. Equal Housing Opportunity." Also note that any Web presence is considered online advertising, and therefore may require additional disclaimers in certain cases. Online Advertising Any Web presence is considered online advertising. This means that your content is subject to many regulations, and should be carefully considered before being made public.

You are solely responsible for the information and other content that you make available anywhere on the Web. This includes 21Online, century21.com, and your own business Website. Make sure you comply with the following: As discussed at length earlier in this section, your site must use CENTURY 21 marks and slogans correctly and consistently. Make sure you have permission to reproduce and display content, as well as artwork and graphic images, in accordance with applicable trademark, copyright, patent, and other laws. Follow all regulations governing the accuracy and presentation of advertising and the promotion of your business on the Web. This includes local laws and, for company and office sites, be sure to follow the restrictions of Century 21 Real Estate LLC. As a CENTURY 21 Franchisee, you may request a link from century21.com to your Company or Office Website. Century 21 Real Estate LLC reserves the right to disapprove and deny access to any Franchisee whose Website contains content which violates the CENTURY 21 franchise identity system or otherwise threatens to damage the CENTURY 21 service mark. Century 21 Real Estate LLC may also suspend a Franchisee from any awards program for the above described violations. Submittal Steps In order to be listed on 21Online.com, century21.com, and the CENTURY 21 state sites, all company and office Websites must first be submitted for approval by the Franchise Administration Department. A team or individual site does not need to be submitted to Franchise Administration, but should be reviewed by the managing broker. The broker is responsible for ensuring that all sites associated with his or her office comply with legal and trademark regulations. To submit a company or office Website for approval, follow these steps: 1. Contact your Franchise Administration Department at RealEstate.WebCompliance@Realogy.com. 2. If the Web address or the content of the site is not approved, your office will be notified of any errors to be addressed. 3. Correct the errors and resubmit to the Franchise Administration Department. 4. Upon approval, the Web address will be linked to the CREST database. This database is refreshed daily Monday through Saturday. On the next refresh, the Web address will be uploaded to appear on 21Online.com, century21.com, and the CENTURY 21 state sites. Approved Marks Century 21 Real Estate LLC is the licensee of many service marks and trademarks. Marks which are registered with the United States Patent and Trademark Office require the use of the registration symbol " " with the mark. The marks for which a registration has not yet been received require the use of the " TM " symbol or " SM " symbol, as set forth below. The following is a list of some of the commonly used marks and

trade dress items owned by Century 21 Real Estate LLC. For a complete list of Approved Marks, please Click here. Symbols The following is a list of approved professional symbols and logos which may be used in conjunction with the CENTURY 21 Modern Building Logo subject to the requirements contained in this Manual. The height of the symbols and logos must not exceed the height of the numeral "1" in the Modern Building Logo. Use of any other symbols or logos must have the prior written approval of Century 21 Real Estate LLC. Note: For guidelines on correct usage of these symbols, consult the appropriate section of this Manual (i.e., signs, stationery, etc.). Equal Housing Opportunity This symbol of the United States Department of Housing and Urban Development is used to signify compliance with equal housing laws. This symbol or a Fair Housing or Human Rights poster or statement must be displayed in the Office. It is suggested that this Logo and the statement "Equal Housing Opportunity" always be used in advertising and other promotional materials. Multiple Listing Service The MLS symbol is used to signify membership in a local Multiple Listing Service. NATIONAL ASSOCIATION OF REALTORS This federally registered mark may only be used by members of the NATIONAL ASSOCIATION OF REALTORS who are actively engaged in the real estate business and authorized to use the mark to indicate their membership and otherwise only in accordance with the terms of membership. Always separate the terms REALTOR and REALTORS from your firm name with punctuation, even

when they appear on a separate line. Consult NATIONAL ASSOCIATION OF REALTORS guidelines for correct usage of this mark. CENTURY 21 Fine Homes & Estates Introduction This portion of the CENTURY 21 Policy & Procedure Manual refers to those offices designated for the CENTURY 21 Fine Homes & Estates program. Participants in the CENTURY 21 Fine Homes & Estates program shall abide by the terms of the Policy & Procedure Manual and supervise their affiliates or branch offices that are also program members, as well as sales associates, to ensure compliance with its terms. The failure to comply with these provisions will constitute grounds for dismissal from participation in the CENTURY 21 Fine Homes & Estates program. There are three levels of participation in the CENTURY 21 Fine Homes & Estates program: CENTURY 21 Fine Homes & Estates Designated Offices CENTURY 21 Fine Homes & Estates Designated Properties CENTURY 21 Fine Homes & Estates Designated Agent Program Qualification Guidelines CENTURY 21 Fine Homes & Estates Designated Office: Prior year production must include at least five (5) closed residential transactions at or above $500,000. Transactions measured on a rolling 12-month period. Transactions that fall in the top ten percent of the marketplace will not qualify for Designated Office status unless the listing price is at or above $500,000. Each office must submit a CENTURY 21 Fine Homes & Estates application to Century 21 Real Estate LLC for review. The approval of senior management is required. In addition, the office must be in good standing within the CENTURY 21 System. Each CENTURY 21 Fine Homes & Estates office designation will be valid for one calendar year and will be reviewed annually during the first quarter of each year. Century 21 Real Estate LLC reserves the right (in its sole discretion) to revoke a designation based upon the annual review or the violation of the Policy & Procedure manual. Designated CENTURY 21 Fine Homes & Estates offices are permitted to use the CENTURY 21 Fine Homes & Estates tools and resources to market luxury properties (see designated property criteria for more information) and the office's CENTURY 21 Fine Homes & Estates division. Marketing Commitment Each CENTURY 21 Fine Homes & Estates Designated office is required to put all of its listings and photos (regardless of the listing price) on the CENTURY 21 System's Website, www.century21.com through entry in CREST EDG.

In addition, each CENTURY 21 Fine Homes & Estates Designated Office is encouraged to utilize the CENTURY 21 Fine Homes & Estates logo and signage whenever marketing residential properties listed at or above $500,000. Telephone Policy In answering the telephone, office personnel must always use the Franchisee's full, approved CENTURY 21 company name, never just "CENTURY 21" and never just the Individual Office Identification. CENTURY 21 Fine Homes & Estates designated offices may not use "Fine Homes & Estates" after its DBA (Doing Business As or Trade Name). Correct: "Good Morning-CENTURY 21 Gold Team Realty". CENTURY 21 Fine Homes & Estates Designated Property: For a residential property to be designated, it must be priced in the top ten percent of the property's local marketplace (local criteria) or $500,000 and up (nationally). You can determine your market's threshold of home prices by running a production report from your local Multiple Listing Service (MLS) and calculating the top ten percent of home sales prices. National Marketing (National Marketing is a national co-op advertising program subsidized by Century 21 Real Estate LLC i.e., Wall Street Journal, New York Times, CENTURY 21 Fine Homes & Estates Listing Magazine)- To be eligible for National Marketing, the resident property must be valued in the top 10% of the local marketplace and have a minimum listing price of $500,000. Listing prices will only be shown for listings priced at $750,000 and over. Century 21 Real Estate LLC partially subsidizes a national co-op program that may be pursued by an office or agent with a luxury home property valued in the top ten percent of the local MLS and a minimum listing price of $500,000. Opportunities are currently available with the Wall Street Journal, New York Times and the Fine Homes & Estates Magazine. Listing prices will only be shown for listings priced at $750,000 and over. Local Marketing (Local Marketing is marketing by the Franchise in local publications)- To be eligible for Local Marketing, the residential property must be priced in the top ten percent of the property's local marketplace. (The market's threshold of home prices is determined by calculating the top ten percent of home sales prices.) These statistics must be based on residential properties only and must be adjusted annually. While Franchisees must comply with these standards in order to market a property with the CENTURY 21 Fine Homes and Estates designation, no application and approval is necessary to market a qualified listing as CENTURY 21 Fine Homes & Estates property. All System Offices may use the CENTURY 21 Fine Homes & Estates yard sign on properties that meet the aforementioned designated property criteria. CENTURY 21 Fine Homes & Estates properties must be isolated in a separate box when included with properties listed below the designated property criteria. (See examples listed under Listing Advertisement

Standards in this section.) Offices commit to posting all properties, regardless of cost, on www.century21.com, the CENTURY 21 System's Website. CENTURY 21 Fine Homes & Estates Agent: To become a CENTURY 21 Fine Homes & Estates designated agent, the agent must successfully complete the CENTURY 21 Fine Homes & Estates training course, available via the CENTURY 21 Learning System, or be part of a CENTURY 21 Fine Homes & Estates Designated office. It is strongly recommended that the listing agent, to be most successful, complete the CENTURY 21 Fine Homes & Estates eductional course offered via the CENTURY 21 Learning System (CLS). CENTURY 21 Fine Homes & Estates agents may include the designation "Luxury Home Specialist" on their CENTURY 21 Fine Homes & Estates business card. Logo Usage for Print Advertising The logo must always be arranged in any one of the approved proportions shown below. The only alterations that may be made include the addition of company name and phone number, or company name, phone number and Website address. The logos must stand alone. They cannot be used as part of, or in conjunction with, the CENTURY 21 Modern Building logo. It must be used in all cases with the appropriate CENTURY 21 Office Identification for the approved office. The "CENTURY 21 Fine Homes & Estates" portion of the logo or the "Gates" should never be used alone. Click here to view full image. Listing Advertisement Standards Franchisee shall maintain the highest standards in all CENTURY 21 Fine Homes & Estates listing advertisements. Renderings are not acceptable visual elements unless approved by Century 21 Real Estate LLC. In addition, if only one photograph is included in the listing advertisement, it must be an exterior view. If ALL properties are more than $500,000 or meet the local criteria, the listing advertisement may include the CENTURY 21 Fine Homes & Estates logo, (see example 1.) If there are properties in the same listing advertisement priced both above and below ($500,000 or the applicable local criteria), the CENTURY 21 Fine Homes & Estates properties must be highlighted in a separate box and identified with a CENTURY 21 Fine Homes & Estates logo (see example 2 and 3). Example 1 - example of all properties over $500,000 Example 2 - example of only two properties over $500,000

Example 3 - example of only two properties under $500,000 Logo Usage - Color The CENTURY 21 Fine Homes & Estates logo must always appear in black, white and gold (PMS 124). If PMS 124 is not available, the CMYK equivalent may be substituted (C-0%, M-27%, Y-100%, K-6%). No other use of color in conjunction with the logo is acceptable. Internet Policy Franchisees shall maintain the highest standards when promoting the CENTURY 21 Fine Homes & Estates program online or when posting CENTURY 21 Fine Homes & Estates listings on the Internet. Franchisees must abide by the advertising listing standards as set forth in this Policy & Procedure Manual. As with CENTURY 21 Fine Homes & Estates listing advertisements, renderings are not acceptable visual elements unless approved by Century 21 Real Estate LLC. It is strongly recommended that offices participate in programs available on www.century21.com such as virtual tours, slide show presentation, Website builder, etc. A detailed description and photos of each property is also suggested. Additional Fine Homes & Estates Information can be found in the following subsections: Exterior Office Signs Yard Signs Office Stationery