SPECIAL REPORT CONTINUING DISCLOSURE CALL SCHEDULE Mike Vitiello Senior Analyst, Municipal 212 284 5419 mvitiello@ziegler.com Dated: January 5, 2018 In this weekly Special Report, we provide a schedule of all future Ziegler -sponsored continuing disclosure calls (along with the necessary dial-in information). We also provide a listing of all calls that occurred in the past 30 days for which recordings are available with information on how to access the recording. The frequency of calls with any individual borrower is adjusted as necessary, but is typically quarterly. As can be seen by the listing, we have over 100 obligor borrowers participating in the program. At no cost to the participants, Ziegler sponsors and moderates these calls to foster communication and information flow within the investor community. Generally, the purpose of these calls is to enable borrowers in the program to elaborate on and offer additional color and perspective about basic information that has been disseminated to the securities market via Electronic Municipal Market Access (EMMA). Conducting investor-oriented continuing disclosure conference calls is one of Ziegler s Top Ten Recommended Best Practices for Continuing Disclosure by Not-for-profit Providers. The disclosure call program is voluntary for both the borrowers and Ziegler. Please refer to important analyst s certification and disclosure at the end of this Special Report. Past performance is no guarantee of future results. This Special Report does not constitute a solicitation or an offer to purchase or sell any type of security described herein. B.C. Ziegler and Company Member SIPC & FINRA
Ziegler -Sponsored Analysts: Cesar Chavez Academy (CO) MV 8-Dec-17 12ET/11CT/10MT 881764428# Southminster (NC) MV 8-Dec-17 1ET/12CT 886754829# Inner City Education Foundation (CA) MV 8-Dec-17 1ET/12CT/10PT 820734529# Mary's Woods (OR) MV 8-Dec-17 2ET/1CT/11PT 821734727# Brazos Presbyterian Homes (TX) RG 11-Dec-17 12ET /11CT Canceled Bayview Retirement Community (WA) RG 11-Dec-17 3ET/2CT/12PT 865754659# Las Ventanas (NV) MV 11-Dec-17 4ET/3CT/1PT 801704659# Presbyterian Homes Obligated Group (IL) RG 12-Dec-17 1ET/12CT 870764769# Intrinsic Charter School (IL) MV 12-Dec-17 2ET/1CT 870764269# Lutheran Home & Services for the Aged (IL) RG 12-Dec-17 3ET/2CT 819754760# Seabury (CT) RG 13-Dec-17 11ET/10CT 887784177# Vista School (UT) RG 13-Dec-17 12ET/11CT/10MT 833754476# Cornerstone Village (TN) RG 13-Dec-17 2ET/1CT Rescheduled Montereau, Inc. (OK) RG 13-Dec-17 4ET/3CT 886744377# Trezevant Manor (TN) MV 14-Dec-17 1ET/12CT 823734784# East Ridge at Cutler Bay (FL) RG 14-Dec-17 2ET/1CT 849764185# Academy (SC) MV 14-Dec-17 4ET/3CT Rescheduled The Langford (TX) MV 19-Dec-17 11ET/10CT 849715236# Casey's Pond (CO) MV 19-Dec-17 1ET/12CT/11MT 824775335# Terraces of Boise (ID) MV 19-Dec-17 2ET/1CT/11PT 885785735# Epworth Villa (TN) RG 19-Dec-17 2:30ET/1:30CT 887784177# MRC The Crossings (TX) MV 19-Dec-17 3ET/2CT 875765534# Heron's Key (WA) MV 19-Dec-17 4ET/3CT/1PT 896795937# Cornerstone Village (TN) RG 20-Dec-17 2ET/1CT Canceled Brazos Presbyterian Homes (TX) RG 21-Dec-17 3ET /2CT 851795959# Redstone Village (AL) RG 8-Jan-18 3ET/2CT 485328# Pending Rosedale Green (KY) RG 11-Jan-18 3ET/2CT 797570# Pending Cornerstone Village (TN) RG 11-Jan-18 4ET/3CT 650510# Pending Rose Villa (OR) RG 12-Jan-18 11ET/10CT/8PT 290216# Pending Friendsview Retirement Community (OR) RG 12-Jan-18 2ET/1CT/11PT 905120# Pending Ventana by Buckner (TX) RG 16-Jan-18 2ET/1CT 959801# Pending Baptist Life Communities (KY) RG 17-Jan-18 12ET/11CT 832549# Pending Immanuel Lutheran (MT) MV 22-Jan-18 2ET/1CT/12MT 403125# Pending Casey's Pond (CO) MV 23-Jan-18 1ET/12CT/11MT 225887# Pending Terraces of Boise (ID) MV 23-Jan-18 2ET/1CT/11PT 643770# Pending Rockwood Retirement Communities (WA) RG 23-Jan-18 3ET/2CT/12PT 951513# Pending Christian Care Centers (TX) RG 24-Jan-18 3ET/2CT 446915# Pending St. Therese of Woodbury (MN) RG 25-Jan-18 4ET/3CT 514955# Pending Noble Network of Charter Schools (IL) RG 29-Jan-18 2:30ET/1:30CT 257882# Pending Academy (SC) MV 30-Jan-18 1:30ET/12:30CT 202336# Pending The Langford (TX) MV 12-Feb-18 11ET/10CT 937828# Pending Concordia Life Care Community (OK) LC 13-Feb-18 11ET/10CT 333435# Pending Country Manor Campus (MN) RG 13-Feb-18 12ET/11CT 675818# Pending Arlington of Naples (FL) RG 14-Feb-18 11ET/10CT 146891# Pending Page 2 of 5
Ziegler -Sponsored Analysts: Friendship Village of Tempe (AZ) RG 15-Feb-18 12ET/11CT/9AZ(LT) 361176# Pending RiverMead (NH) RG 15-Feb-18 1ET/12CT 229203# Pending Stayton at Museum Way (TX) RG 16-Feb-18 11ET/10CT 240883# Pending Crestview Retirement Community (TX) MV 20-Feb-18 11ET/10CT 884466# Pending Sunny Vista Living Center (CO) MV 20-Feb-18 12ET/11CT/10MT 590788# Pending Clare Oaks (IL) MV 20-Feb-18 2ET/1CT 590913# Pending Glencroft (AZ) MV 20-Feb-18 3ET/2CT/1MT 709976# Pending Buckingham Senior Living Community (TX) RG 20-Feb-18 4ET/3CT 569653# Pending Woodlands at Furman (SC) MV 21-Feb-18 11ET/10CT 695164# Pending Lakeview Village (KS) RG 21-Feb-18 12ET/11CT 293417# Pending Eliza Jennings Senior Care Network (OH) RG 21-Feb-18 1ET/12CT 450323# Pending Spring Harbor at Green Island (GA) RG 21-Feb-18 2ET/1CT 820102# Pending Montgomery Place (IL) RG 21-Feb-18 3ET/2CT 136738# Pending Wittenberg Lutheran Village (IN) RG 22-Feb-18 11ET/10CT 351187# Pending The Barrington of Carmel (IN) RG 22-Feb-18 12ET/11CT 733210# Pending Sierra Winds (AZ) RG 22-Feb-18 1ET/12CT/11AZ(LT) 478614# Pending Aberdeen Heights (MO) MV 22-Feb-18 2ET/1CT Rescheduled Admiral at the Lake (IL) LC 22-Feb-18 2ET/1CT Rescheduled Querencia (TX) RG 22-Feb-18 3ET/2CT 728677# Pending Village at Germantown (TN) RG 22-Feb-18 4ET/3CT 469222# Pending Edgemere (TX) RG 23-Feb-18 10ET/9CT 730055# Pending Aberdeen Heights (MO) MV 23-Feb-18 2ET/1CT 711274# Pending Mirador (TX) RG 23-Feb-18 3ET/2CT 407914# Pending Westminster Terre Haute (IN) MV 26-Feb-18 3ET/2CT 344715# Pending St. James Place (LA) MV 27-Feb-18 12ET/11CT 775107# Pending Terraces at San Joaquin Gardens (CA) MV 27-Feb-18 2ET/1CT/11PT 688817# Pending Duncaster, Inc. (CT) RG 28-Feb-18 9ET/8CT 643025# Pending Peace Village (IL) RG 28-Feb-18 10ET/9CT 589075# Pending Canterbury on the Lake (MI) MV 28-Feb-18 11ET/10CT 724294# Pending Pleasant View Luther Home (IL) RG 28-Feb-18 12ET/11CT 429569# Pending Valley Vista (ID) MV 1-Mar-18 3ET/2CT/12PT 162337# Pending John Knox Village (MO) RG 2-Mar-18 3:30ET/2:30CT 997872# Pending Blue Skies of Texas (TX) RG 5-Mar-18 12ET/11CT 757018# Pending Lutheran Senior Services (MO) RG 5-Mar-18 2ET/1CT 323032# Pending Christwood (LA) MV 5-Mar-18 3ET/2CT 453589# Pending Nazareth Living Center (MO) RG 6-Mar-18 11ET/10CT 518163# Pending Plymouth Place (IL) MV 6-Mar-18 12ET/11CT 176243# Pending Presbyterian Retirement Communities Northwest (WA) MV 6-Mar-18 2ET/1CT/11PT 468861# Pending MRC The Crossings (TX) MV 6-Mar-18 3ET/2CT 473659# Pending Episcopal Communities & Services (CA) JD 6-Mar-18 4ET/3CT/1PT 174067# Pending Seabury (CT) RG 7-Mar-18 11ET/10CT 778666# Pending MonteCedro Inc. (CA) JD 7-Mar-18 3ET/2CT/12PT 779514# Pending Capital Manor (OR) MV 7-Mar-18 4ET/3CT/1PT 206884# Pending Terwilliger Plaza (OR) RG 8-Mar-18 1ET/12CT/10PT 350511# Pending Page 3 of 5
Ziegler -Sponsored Analysts: Trezevant Manor (TN) MV 8-Mar-18 1ET/12CT 586699# Pending HumanGood (fka be.group) (CA) RG 8-Mar-18 3CT/1PT 208707# Pending C.C. Young (TX) MV 9-Mar-18 1ET/12CT 904324# Pending Mary's Woods (OR) MV 9-Mar-18 2ET/1CT/11PT 313575# Pending Bayview Retirement Community (WA) RG 12-Mar-18 2ET/1CT/11PT 927375# Pending Las Ventanas (NV) MV 12-Mar-18 4ET/3CT/1PT 811514# Pending Three Crowns Park (IL) MV 13-Mar-18 1ET/12CT 596737# Pending St. Luke's Hospital of Duluth (MN) MV 14-Mar-18 10ET/9CT 919408# Pending Village at Gainesville (FL) RG 15-Mar-18 1ET/12CT 926122# Pending Terraces at Bonita Springs (FL) RG 15-Mar-18 2ET/1CT 864306# Pending East Ridge at Cutler Bay (FL) RG 15-Mar-18 3ET/2CT 909454# Pending Village on the Isle (FL) RG 20-Mar-18 11ET/10CT 502576# Pending Asbury Place (TN) MV 20-Mar-18 12ET/11CT 107412# Pending Asbury Communities (MD & PA) MV 20-Mar-18 1ET/12CT 455373# Pending Inverness Village (OK) MV 20-Mar-18 2ET/1CT 164921# Pending Lutheran Home & Services for the Aged (IL) RG 20-Mar-18 3ET/2CT 744348# Pending Vista School (UT) RG 28-Mar-18 12ET/11CT/10MT 456072# Pending Kahala Nui (HI) RG 16-May-18 3ET/2CT/9HT 794686# Pending Episcopal Senior Communities (CA) RG 18-May-18 12ET/11CT/9PT 760298# Pending Pennybyrn at Maryfield (NC) MV 22-May-18 1ET/12CT 446639# Pending Covenant Woods (VA) RG 22-May-18 3ET/2CT 536558# Pending Methodist Homes of Alabama and Northwest Florida (AL) MV 23-May-18 1ET/12CT 110545# Pending Admiral at the Lake (IL) LC 23-May-18 4ET/3CT 379699# Pending Lutheran Homes of South Carolina (SC) RG 4-Jun-18 1ET/12CT 504727# Pending Christian Living Communities (CO) MV 4-Jun-18 3ET/2CT/1MT 680768# Pending Wesleyan Homes (TX) RG 5-Jun-18 11ET/10CT 812392# Pending Terraces at Bonita Springs (FL) RG 7-Jun-18 2ET/1CT 864306# Pending Village at Gainesville (FL) RG 7-Jun-18 3ET/2CT 926122# Pending East Ridge at Cutler Bay (FL) RG 14-Jun-18 2ET/1CT 909454# Pending Brazos Presbyterian Homes (TX) RG 29-Aug-18 12ET /11CT 460269# Pending Terraces at Bonita Springs (FL) RG 6-Sep-18 2ET/1CT 864306# Pending Village at Gainesville (FL) RG 6-Sep-18 3ET/2CT 926122# Pending East Ridge at Cutler Bay (FL) RG 20-Sep-18 2ET/1CT 909454# Pending Messiah Lifeways (PA) RG 26-Sep-18 3ET/2CT 240778# Pending Greencroft Obligated Group (IN) RG 8-Nov-18 10ET/9CT 113988# Pending Pepin Academy (FL) MV 29-Nov-18 12ET/11CT 279129# Pending Christian Horizons, Inc. (IL) RG 5-Dec-18 3ET/2CT 554861# Pending Calibre Academy (fka Carden Traditional School of Surprise) (AZ) MV 5-Dec-18 4ET/3CT/2MT 826682# Pending Intrinsic Charter School (IL) MV 11-Dec-18 2ET/1CT 637652# Pending Montereau, Inc. (OK) RG 12-Dec-18 4ET/3CT 289776# Pending East Ridge at Cutler Bay (FL) RG 13-Dec-18 2ET/1CT 909454# Pending Terraces at Bonita Springs (FL) RG 13-Dec-18 3ET/2CT 864306# Pending Village at Gainesville (FL) RG 13-Dec-18 1ET/12CT 926122# Pending Page 4 of 5
Ziegler is an assembly of financial and credit analysts committed to providing investors with research on a selected sub-set of securities consisting of Ziegler-underwritten municipal bonds issued to finance senior living and hospital capital projects, as well as the education and housing sectors. Ziegler is separate from Ziegler s investment banking and capital markets businesses. The analysts rely only on publicly available information to generate opinions and reports. The team s published research carries an analyst certification as to the objectivity of the opinions rendered. Analyst-certified research reports are accessible through Ziegler.com (a limited access, semi-public website), or through a Ziegler financial advisor. ABOUT THE AUTHOR Mike Vitiello joined the research team at Ziegler in April of 2013. He is primarily responsible for monitoring a portfolio of Ziegler and non-ziegler underwritten senior living, healthcare and education credits. Mike is responsible for authoring borrower-specific credit research reports, commenting on each borrower s financial condition and highlighting any significant changes for the benefit of investors and Ziegler s internal business groups. His responsibilities also include the Ziegler annual CCRC Financial Ratio Median Analysis and the Default Study, as well as maintaining certain aspects of the. Mike received a B.S.B.A. from Boston University in 2009, and holds Series 7 and 52 licenses from FINRA, and belongs to several healthcare and municipal bondrelated organizations. ANALYSTS CERTIFICATION I, Mike Vitiello, hereby certify that the views expressed in this research report accurately refl ect my personal views about the subject securities, issuers and borrowers. I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specifi c recommendation or view expressed in this research report. The opinions expressed here refl ect my judgment and are subject to change. This is not a complete analysis of every material fact regarding any company, industry or security. Information has been obtained from sources considered reliable, but Ziegler cannot guarantee the accuracy. Additional information is available upon request. Other departments of Ziegler may have information, which is not available to Ziegler, about companies mentioned in the report. Ziegler may execute transactions in the securities mentioned in the report, which may not be consistent with the report conclusions. Past performance should not be taken as an indication or guarantee of future performance. Ziegler may perform investment banking or other services for, or solicit investment banking business from, any company mentioned in this report. This document may not be reprinted without permission. ASSOCIATES Edward Merrigan Managing Director Municipal 212-284-5451 emerrigan@ziegler.com Lavinia Criswell Director Municipal 727-542-5755 lcriswell@ziegler.com Rebecca Greive AVP Municipal 312-596-1502 rgreive@ziegler.com Mike Vitiello Senior Analyst Municipal 212-284-5419 mvitiello@ziegler.com Victoria Neitzel Senior Website Administrator Municipal 414-978-6464 vneitzel@ziegler.com Jill Kuehn Assistant Municipal 414-978-6461 jkuehn@ziegler.com 140 East 45th Street New York, NY 10017 800 366 8899 www.ziegler.com 26 ZIEGLER