STATE OF FLORIDA MM 02020 P $09 DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION FLORIDA REAL ESTATE COMMISSION coe. FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION, DIVISION OF REAL ESTATE, Petitioner, vs. FDBPR Case N° 2002007337 ROBERT D. STERRETT, a ar ey. W534 PL Respondent. ( . / ADMINISTRATIVE COMPLAINT State of Florida, Department of Business and Professional Regulation, Division of Real Estate (“Petitioner”) files this Administrative Complaint against Robert D. Sterrett (“Respondent”) and alleges: ESSENTIAL ALLEGATIONS OF MATERIAL FACT 1. Petitioner is a state government licensing and regulatory agency charged with the responsibility and duty to prosecute Administrative Complaints pursuant to the laws of the State of Florida, in particular Section 20.165 and Chapters 120, 455 and 475, of the Florida Statutes and the rules promulgated pursuant thereto. 2. Respondent is and was at all times material hereto a licensed Florida real estate broker, issued license number 463918 in accordance with Chapter 475 of the Florida Statutes. 3. The last license issued was as a broker at Bay Coastal Realty, Inc., 1137 Harrison Avenue #2, Panama City, Florida 32401. FDBPR v. Robert Sterrett Case No. 2002007337 Administrative Complaint 4. On or about July 17, 2002, Petitioner conducted an audit and office inspection of Respondent’s office. 5. On or about July 17, 2002, pursuant to Petitioner’s request, Respondent failed to produce to Petitioner, a written reconciliation statement for the month of J anuary of 2001. 6. Respondent tendered to Petitioner records representing that check # 1086 was drafted on March 31, 2001. 7. Respondent tendered to Petitioner a reconciliation statement for March of 2001. A copy of the statement is attached and incorporated as Administrative Complaint Exhibit 1. 8. The reconciliation statement for February 2001 shows check # 1086 as a “deposit not credited” in the amount of $3,179.24. 9, Neither the bank statement for the property management escrow account, nor do the deposit receipts associated with the account show a deposit in April of 2001, in the amount of $3179.24. A copy of the bank statement is attached and incorporated as Administrative Complaint Exhibit 2. 10. Respondent tendered to Petitioner a reconciliation statement for April of 2001. A copy of the statement is attached and incorporated as Administrative Complaint Exhibit 3. 11. The April reconciliation statement shows a “deposit not credited” in the amount of $6029.24. 12. Respondent tendered to Petitioner a bank statement for the escrow account for the month FDBPR v. Robert Sterrett Case No. 2002007337 Administrative Complaint of May of 2001. A copy of the statement is attached and incorporated as Administrative Complaint Exhibit 4. 13. Neither the bank statement for May of 2001, nor do the deposit receipts associated with the account show a deposit in the amount of $6029.24 at any time during the month. 14. Respondent tendered to Petitioner written reconciliation statements for May through October of 2001. A copy of the statements are attached and incorporated as Administrative Complaint Exhibit 5, 6, 7, 8, 9, and 10. 15. The May through October 2001 reconciliation statements show check no. 1086, 1132, and 1201 as outstanding checks written on March 31, 2001. 16. The bank records for May through October 2001, do not show any transactions regarding the above checks. 17, The reconciliation statements for June through October 2001 show a “deposit not credited” in the amount of $6629.24 18. The bank records for June through November of 2001 do not show a deposit in the amount of $6629.24. COUNT I Based upon the foregoing, Respondent is guilty of misrepresentation, culpable negli gence, or breach of trust in any business transaction in violation of Section 475.25(1)(b), Florida Statutes. FDBPR v. Robert Sterrett Case No. 2002007337 Administrative Complaint COUNT II Based upon the foregoing, Respondent is guilty of failure to properly prepare the required written monthly escrow statement-reconciliations in violation of Rule 61J2-14.012(2) and (3) of the Florida Administrative Code and is, therefore, in violation of Section 475.25(1)(e), Florida Statutes. COUNT II Based upon the foregoing, Respondent is guilty of failure to preserve and make available to the Petitioner, all books, records, and supporting documents and failed to keep an accurate account of all trust fund transactions in violation of Rule 61J2-14.012(1) of the Florida Administrative Code and, therefore, in violation of Section 475.25(1)(e), the Florida Statutes. COUNT IV Based upon the foregoing, Respondent is guilty of failure to preserve and make available to the Petitioner, all books, accounts, and records as will enable the Department to determine whether a broker is in compliance with Chapter 475, Florida Statutes, in violation of Section 475.5015, Florida Statutes, and, therefore, in violation of Section 475.25(1)(e), the Florida Statutes. COUNT V Based upon the foregoing, Respondent is guilty of depositing or intermingling personal funds with funds being held in escrow or trust or on condition in violation of Rule 61J2-14.008(2) of the Florida Administrative Code and, therefore, in violation of Section 475.25(1)(e), Florida Statutes. WHEREFORE, Petitioner respectfully requests the Florida Real Estate Commission, or the FDBPR v. Robert Sterrett Case No. 2002007337 Administrative Complaint Department of Business and Professional Regulation, as may be appropriate, to issue a Final Order as final agency action finding the Respondent(s) guilty as charged. The penalties which may be imposed for violation(s) of Chapter 475 of the Florida Statutes, depending upon the severity of the offense(s), include: revocation of the license or registration or permit; suspension of the license, registration or permit for a period not to exceed ten a 0) years, imposition of an administrative fine of up to $1,000 for each count or offense; imposition of investigative costs; issuance of a reprimand; imposition of probation subject to terms including, but not limited to, requiring the licensee, registrant or permitee to complete and pass additional real estate education courses; publication; or any combination of the foregoing which may apply. See Section 475.25(1), Florida Statutes and Florida Administrative Code Rule 61J2-24.001. The penalties which may be imposed for violation(s) of Chapter 455 of the Florida Statutes, depending upon the severity of the offense(s), include: revocation of the license, registration, or permit; suspension of the license, registration, or permit for a period not to exceed ten (10) years; imposition of an administrative fine of up to $5,000 for each count or offense; imposition of investigative costs; issuance of a reprimand; imposition of probation subject to terms including, but not limited to, requiring the licensee, registrant, or permitee to complete and pass additional real estate education courses; publication; restriction of practice; injunctive or mandamus relief; imposition of a cease and desist order; or any combination of the foregoing which may apply. See Section 455.227, Florida Statutes and Florida Administrative Code Rule 61J2-24.001. FDBPR v. Robert Sterrett Administrative Complaint SIGNED this__ 17) day of Case No. 2002007337 T_. , 2003. Deny oa ero nt Smet - STERSSTORAP Raper jes top G CRM aU GE fon of Real Ret ito F CD/k PCP: GS/ATR 6/03 “Ax. Department of Business and Professional Regulation By: Director, Division of Real Estate ATTORNEY FOR PETITIONER CHRISTOPHER J. DECOSTA Senior Attorney Florida Bar N° 00271410 Division of Real Estate Department of Business and Professional Regulation, Legal Section - Suite N 802 Hurston Bldg. North Tower 400 West Robinson Street Orlando, Florida 32801-1772 (407) 481-5632 (407) 317-7260 FAX NOTICE TO RESPONDENTS PLEASE BE ADVISED that mediation under Section 120.573 of the Florida Statutes, is not available for administrative disputes involving this type of agency action. FDBPR v. Robert Sterrett Case No. 2002007337 Administrative Complaint PLEASE BE FURTHER ADVISED that pursuant to this Administrative Complaint you may request, within the time proscribed, a hearing to be conducted in this matter in accordance with Sections 120.569 and 120.57 of the Florida Statutes; that you have the right, at your option and expense, to be represented by counsel or other qualified representative in this matter; and that you have the right, at your option and expense, to take testimony, to call and cross-examine witnesses, and to have subpoena and subpoena duces tecum issued on your behalf if a formal hearing is requested. PLEASE BE FURTHER ADVISED that if you do not file an Election of Rights form or some other responsive pleading with the Petitioner within twenty-one (21) days receipt of this Administrative Complaint, the Petitioner will file with the Florida Real Estate Commission a motion requesting an informal hearing and entry of an appropriate Final Order which may result in the suspension or revocation of your real estate license or registration. Please see the enclosed Explanation of Rights and Election of Rights form. Monthly Reconciliation Statement Real Estate Trust Account i I } 7 ny FLORIDA ASSOCIATION OF REALTORS® e bl la dS To be used in compliance with Chapter 61J2-14.012(2), Florida Administrative Code Mo CEC 20 P fag 1. Trust Account Reconciliation Information Name of bank: Peoples Ist Community Bank —_ _ - _ a Name of account: Property Management Trust, Bay Coastal Realty, inc... _ — nn Account number: 3373772, ne ie _- a . ee Reconciliation for the month of ____—_s_s ss March, 2001. : Date used for reconciliation: 03 / 30 /_2001_ Bank statement period 03 / 01./_2001 through 03 /_31./_2001 . Date reconciliation performed: 04 /_15 /_2001_ 2. Adjusted Account Balance Outstanding Checks Deposits Not Credited Date Check # Amount Date Amount 02/13/2001... 1019. $63.62... 03/31/2001... $3179.24 02/28/2001... 1032.00 25.00. a tee 02/28/2001. 1033.00 2257.80 pe ne ee te 03/10/2001. 1048 0. 35,00 a on 03/12/2004 1057 69.50 - . an 03/12/2001 _. 1064. 247.36 0 cone - _— 03/13/2001 __ 1074 1500.00 ae ee 03/12/2001 1075, 125.00 en . — O3/15/2001 1078 _ 90.00. ~ 03/30/2007 1084 50.00 _ _— Ending account balance (for statement period): $20690.75 Add deposits not credited: + $3179.24 _. _ Subtract outstanding checks: - $8962.52 Total (this is the Adjusted Account Balance as of date reconciliation performed): $ 14,907.47 ADMINISTRATIVE COMPLAINT MSR-4 Rev. 9/97 ©1997 Florida Association of REALTORS® All Rights ReseryedH i217 # | ee oa This form is licensed for use with Forsnulatear® Forms Software v3.0 800-336-1027 rc / me SARE f OF el PM March 2001 - Printed On: Thursday, March 18, 2001 16:15:57 Cvhihit q Pana £, MSR-4 Rev.9/97 ©1997 Florida Association of REALTORS® All Rights Reserved This form is licensed for use with Fommulater® Forms Software v3.0 800-336-" 1087" Itemized List of Broker's Trust if : ‘ity Client/Tre1saction Name: Reconciled Balance $ 14901.28 Owners__ Total of Broker's Trust Liability (Total of all deposits received, pending and being held by Broker as of the date reconciliation performed): $14907.28. 0 Comparison of Reconciled Trust Account Balance with Broker's Trust Liability: Adjusted Account Balance (from paragraph 2) $ 1490747) Broker's Trust Liability (from paragraph 3) $ 14901,28 {f Adjusted Account Balance and Broker's Trust Liability agree, sign the Reconciliation Statement. lf Adjusted Account Balance and Broker's Trust Liability do not agree, complete the following to explain the difference. Then, sign the Reconciliation Statement. (1) Shortages: (Adjusted Account Balance is less than Broker's Trust Liability) Total Shortage: $ Reason for shortage (i.e., nsf, service charge, negative balance): Corrective Action Taken: PM March 2001 - Printed Gn: Monday, April 16, 2001 46:15:46 Evhibit Page _ £9 __ : c~ ~ (2) Overages: (Adjusted Account Balance is more than Broker's Trust Liability) | Tota) uverage: $6.19 ______.. Checx only if applicable: d< Overage is due to deposit of Broker's own funds (not exceeding $200.00) into account for maintenance purposes in accordance with Rule 6152-14.010(2). Other Reason for Overage: $138.83 -123.64 Bay Coastal -9.00 Service Charge=6.19 _ Corrective Action Taken: 5. Signature _ Robert D. Sterrett ,Broker, reviewed this monthly statement/reconciliation on _______. —April.15,2007______-- Robert D. Sterrett Broker's signature (required on all Reconciliation Statements) estate industry and is not intended to identify, the user as a REALTOR®. REALTOR® Is a registered This form is available for use by the entire real ho are members of the National Association of REALTORS® and who collective membership mark that may be used only by reat estate licensees w! subscribe to its Code of Ethics. The copyright !aws of the United States (17 U.S. Code) forbid the unauthorized reproduction of blank forms by. any means inciuding facsimile or Ses OE, GV LANE computerized forms. ed MSR-4—-Rev.9/97. ©1997 Florida Association of REALTORS® All Rights Reserved sed for use with Farmutator® Forms Software v3.0 800-336-102: This form is licen’ PM March 2001 - Printed On: Monday, April 16, 2004 16:18:46 Evhihit Paae Go - oo / Peoples First _ rl Floridas Communty Bark Post Office Box 59950 my Panama City, Florida 32442-0950 ma DEC 20 P Account Number: 3313772 Bay Coastal Realty Inc Property Management Trust : Statement Begin Date: 04-01-2001 PO Box 1554 Statement End Date: 04-30-2001 } Panama City FL 32402 Checks Enctosed: 0 . \ If you’ve been dreaming of a new deck or swimming peol, 2 low cost home improvement [oan can help dreams come true. Account Summary for Business Checking - 3313772 Starting Interest Service Ending Balance + Paid - Withdrawals + Charges = Balance 20, 630. 75. 0.00 -, 44,555.65 5.00. 19,034.29 es wee sence ta neeeddenenecenen stands rere re “Checks! Deposits/ Date Description wy wyeeise DeDitS 5! Credits 04-03 Externat Deposit TYNDALL FEDERAL H cone wei 595.007 04-03 Deposit 7 895.007 04-03 Deposit ; 1,550.007 04-03 Deposit 3,065,007 04-03 Deposit 1,262,007 04-03 Deposit 10,145,004 04-04 Deposit 4,270.007 04-04 Deposit 4,670.004 04-05 Deposit 1,425.007 04-06 Deposit 410.004 04-05 Osposit 4,214,007 04-09 Deposit 1,120.00¢ 1,085.00 04-12 Withdrawal Transfer to 1211535 04-13 Eff. 04-12 Deposit 546.00- 04-13 Deposit 200.007 04-17 Deposit . 825.007 04-17 Deposit . 4,220.46 4 04-18 Deposit , 1,100.00-" 04-18 Withdrawal Transfer to 1211535 04-19 Witndrawal Voice Response Transfer to 1211535 04-20 Withdrawal Voice Response Transfer to 1211535 04-26 Eff. 04-25 Deposit : 775.007 04-30 Depssit 392.057 04-30 Deposit . 4139.68—<™ EXHIB ores aS RAT Ba Dow) pace FDIC! at - D79ay Bar vont uke TENDER [S929 Adp, WY Maad hgh 229 Nags “PE . o c Monthly Reconciliation Statement Real Estate Trust Account FLORIDA ASSOCIATION OF REALTORS® To be used in compliance with Chapter 61J2-14.012(2), Florida Administrative Code 2k C22 20 P i: G49 1. Trust Account Reconciliation Information é a : Do Name of bank: Peoples ist Community Bank — _. - Name of account: Property Management Trust, Bay Coastal Realty, Inc. a - Account number: 3313772 __ — - Reconciliation for the month of _ ____ April, 2001 : Date used for reconciliation: 04 / 30 /_2001_ Bank statement period 04 /.07 / 2001 through 04 /_30/ 2001 . Date reconciliation performed: 05 / 17./_2001_ 2. Adjusted Account Balance Outstanding Checks Deposits Not Credited Date Check # Amount Date Amount 02/13/2001... 1019 $63.62. 04/30/2001... $ 6029.24.00. 02/28/2001. 1032. 25.00. nee cee te 03/10/2001 1086,1132_ 6388.94 ee on 93/10/2007. 1097, 335.00 oe . oie 04/15/2001 1099 18.50.00 a oe 04/15/2001 1103 _ 372,50 _ — 04/15/2001 1995 100.00. _ 04/15/2001 1425 50.00. _ ~ 04/30/2001 1126 _. 903.93 a a 7 04/30/2001 4127 100.00 - 7 04/30/2001 1128 a 65.00 ~ 04/30/2001 1129 110.00 _ — Ending account balance (for statement period): $19034.29 0 Add deposits not credited: + $6029.26 0 Subtract outstanding checks: - $ 8532.49 _ Total (this is the Adjusted Account Balance as of date reconciliation performed): $ 16531.04 _ ADMINISTRATIVE COMPLAINT MSR-4 Rev. 9/97 ©1997 Florida Association of REALTORS® All Rights Reserved ot This form is licensed for use with Farmulatear® Forms Scftware v3.0 800-336-1027 EXHIBIT Po. > ae etc hg a A PM April 2001 - Printed On: Tuesday, May 18, 2001 14:30:10 A . Dana /3E_. 3. Itemized List of Broker's Trust { _ 7 Client/Trensaction Name: Owners. Total of Broker's pending and bein performed): Trust Liability (Total of all deposits received, g held by Broker as of the date reconciliation Comparison of Reconciled Trust Account Balance with Broker's Trust Liabi Adjustéd Account Balance (from paragraph 2) Broker's Trust Liability (from paragraph 3) as Reconciled Balance Recontiey seo $16529.85 wn AA nn wn fH $ 16529.85 lity: $16531,04 >= $16529.85 If Adjusted Account Balance and Broker's Trust Liability agree, sign the Reconciliation Statement. If Adjusted Account Balance and Broker's Trust Liability do not a! Then, sign the Reconciliation Statement. (1) Shortages: (Adjusted Account Balance is fess than Broker's Trust Liability) Reason for shortage (i.e., nsf, service charge, negative balance): gree, complete the following to Total Shortage: $ explain the difference. BYE EX} ©1997 Florida Association of REALTORS® All Rights Reserved r° Forms Software v3.0 MSR-4_ Rev. 9/97 This form is ‘icensed for use with Formulato! rohit a goo-336-1027 PAG R Heil E PM April 2004 - Printed On: Thursda’ __Page "y 7, 2001 14:28:14 Q ra {2) Overages: .) ‘ . (Adjusted Account Balance is hidére than Broker's Trust Liability} Total Uverage: $ 4499 Check only if applicable: 3{ Overage is due to deposit of Broker's own funds (not exceeding $200.00) into account for maintenance purposes in accordance with Rule 61J2-14.010(2). ” Other Reason for Overage: 6.18 -5.00 Return Check Charge=1.19 Corrective Action Taken: 5. Signature foo CRO ert D, Sterrett . . _ ,Broker, reviewed this monthly statement/reconciliation on. . May 15,2001. ti’; Robert D. Sterrett Broker's signature (required on all Reconciliation Statements) This form is available for use by the entire real estate industry and is not intended to identify, the user as a REALTOR®. REALTOR® is a registered collective membership mark that may be used only by reat estate licensees who are members of th National Association of REALTORS® and who subscribe to its Code of Ethics. AD STIVE COMPLAINT The copyright !aws of the United States (17 U.S. Code) forbid the unauthorized reproduction of. blank f s by any means including facsimile or computerized forms. ie £ 3 cue. > = cheeneenin ayer ie MSR-4Rev.9197 ©1997Florida Association of REALTORS® All Rights Reserved PAGE ___' OF _ This form is licensed for use with Formulator? Forms Software v3.0 800-336-1027 PM April 2001 - Printed On: Thursday, May 17, 2004 14:28:14 Cottle Dana SLO : a ee Peoples Tis ~ Post Office Box 59950 an pe Panama Clty, Florida 32412-0950 ware 20 PPO pay ¢ | Realty | yap be Account Number: 3313772 ay Coasta ealty Inc . 1 Property Management Trust , Statement Begin Date: 05-01-2001 PO Box 1554 Statement End Date: 05-31-2001 Panama City FL 32402 A Checks Enclosed: 0 lf your plans include a new home, 2 People’s First savings account is oa the best resource for a down payment. Account Summary for Business Checking - 3313772 Starting Interest Service Ending Builance + Deposits + Pald - Withdrawals - Charges... = Balanc 19,034.29 49,153.50 0.00 37,215.30 8.00 30,964.4¥ eee eg ee iitegeeenecennnneeaeneaersnaeaaar ene geegee see e ee eens eee Tee TS 45119 SA BH.SO . : Trarisactions for Business Checking: - 3313772 : Te me Checks/ Deposits/ Date Description ey Debits Credits 05-01 Extarnal Deposit DFAS-DE DEN, CO DO SYMBOL: FCRRD vere 895.00 3801-d ALT - AF MP. ALLT of Po ah eS : — 05-01 Deposit we Na [ S00. 00n¢ 05-02 Withdrawal Transfer to 1211635 -2,089.00 —e 05-02 Deposit 10,247.007 05-02 Deposit . 9,753.00- 08-03 External Deposit TYNDALL FEDERAL - TFCU ACH Ree EN 595.007 05-03 Deposit Voice Response Transter from 1211535 2,089,004 05-03 Deposit 2,470.00" 05-04 Deposit ['s100.00- 06-04 Descriptive Deposit Deo Corr 16080 Add Err POD §0.00— §/3 Dep $2,470.00 JE 86973 05-07 Deposit 575.007 05-07 Deposit : 7,360. 00- 05-08 Deposit 2,235,007 05-08 Statement Print Service Charge ; cs0 WV 05-10 External Withdrawal HARLAND CHECKS +a CHKZORDER Siok Cite oases 05-10 Deposit +,820.00% 05-11 Deoosit 600.007 05-12 Eff : Deposit 600.007 mn 5. 1 AG: eT POTIET IS 05-14 Returned Check Charge wee 05-15 Deposit 1,225,007 wees 05-16 Deposit 312.507 05-18 Withdrawal Voice Response Transter to 1211535 05-18 Deposit 100.007 i, 05-18 Deposit 596 .00¢ i 05-19 Withdrawal Volce Response Transfer to 1211535 E7000.00) Ba, cai, 05°28 Eft. 05-22 Depostt 2,500,004 WHINIS TRA gic COMPLAINT td too 2-3. HIBIT $Y vember +. 34-33 GE _L_FDIE |sac2, & __ at se Blin, 3179. QYy marci cm, 2as0.00 Aga) = tmod-.o0d m LENOEF, Exhibit? *"' Pann “Sf 2 be ar Flocidas aes Fast Post Office Box 59950 Panama City, Florida 32412-0950 ‘ Account Number: 3313772 PAGE Bay Coastal Realty Inc 2 Property Management Trust Statement Begin Date: 05-04-2001 PO Box 1554 Statement End Date: 05-31-2001 Panama City FL 32402 Pan md . > “ .. Business Checking - 3313772 CONTINUED ye a“ ; _ \4 Checks/ Deposits/ Date Description ry cal Debits Cred : 05-23 Descriptive Deposit ReturnedeCheeK Binder caine 3,397,507 05-25 Deposit Checks for Business Checking - 3313772 Date Check Number Amount Date Check Number Amount 05-02 1103 372.50 05-25 1166° 620.007 05-10 1125" 50.00 05-14 1167 2,534,557 05-04 1126 -, 903.93 05-25 -1168 1,137.947 05-04 £ 1127 ; 100. 00 .. 05-14. . 1169 595.50” 05-22 1128 ow 65,00 05-16 © 1170 562.50 05-04 AY 2 1142° ‘ 1. 2a - 06-17" J 1171 1,142,807 05-04 5 1143 20% 00” Myon “eo 1174" 75.00% 05-02 v 1144 100.00 1175 161.217 05-14 1151" 53.507 se 4176 ‘ 18.14 05-16 1152 20.007 1177 394.69 05-15 1154° 750.007 e" 4179" 125.007 05-15 1155 6,830,847 1180 447.007 05-14 1156 1,775.647 1181 181.00- 06-16 1157 689.50’ 1182 40.00— 05-23 1158 715.507 1183 110.00— 05-29 1159 1,350.007 1184 354.00 05-15 1161" 4,974.10% 1185 130.00™ 05-21 1162 732,507 1190" 395.00- 05-22 1163 706.897 1198° 1,050.00 05-14 _ 1164 2,899.397 * Indicates Non-Consecutive Check Number(s) Daily Balance for Business Checking - 3313772 Date Balance Date Balance Date Balance 05-01 20,529.29 05-11 §5,607.12 05-19 33,072.95 05-02 © 37,967.79 05-12 56,207.12 05-21 31,893.45 05-03 43,121.79 05-14 47,414.54 05-22 30,726.93 05-04 43,186.62 05-16 36,084.60 05-23 31,894.93 05-07 51,121.62 05-16 34,973.89 05-24 31,764.93 05-08 53,353.62 05-17 33,831.09 05-25 33,404.49 05-10 55,007.12 05-18 34,072.95 05-29 32,054.49 Member FDIC mane Exhibit___—__—_—— Page _“@ 2 ae PAGE Bay Coastal Realty Inc 3 Property Management Trust FO Box 1554 Fanama City FL 32402 Business Checking - 3313772 CONTINUED Date Balance Date 05-30 32,014.49 05-31 ‘First Post Office Box 59950 Panama City, Florida 32412-0950 Account Number: Statement Begin Date: Statement End Date: Balance 30,964.49 “VE COMPLAINT. a center rt ean E Cort 3313772 ah aesae Cory Bak 05-01-2001 05-31-2001 Pane Monthly Reconciliation Statement Real Estate Trust Account FLORIDA ASSOCIATION OF REALTORS® To be used in compliance with Chapter 61J2-14.012(2), Florida Administrative Code 2094 GEC 20 P 1:09 4. Trust Account Reconciliation Information Name of bank: Peoples ist Community Bank. - a Name of account: Property Management Trust, Bay Coastal Realty, Inc. _ oe an Account number: 3313772 oe Wo _ — _ one Reconciliation for the month of _.._.__._.._._May, 2007 Date used for reconciliation: 05 /_30 /_2004_ Bank statement period 05./ 01 / 2001 through 05 /_31/_2007_. Date reconciliation performed: 06 / 16 / 2001 2. Adjusted Account Balance Outstanding Checks Deposits Not Credited Date Check # Amount Date Amount 02/13/2001. 9019, $63.62 05/30/2001. $6770.07 02/28/2001... 1032.00. 25.00 Management ___ Fee's Already._ 03/31/2001__ 1086,1132,1201 _ 9,770.09... Withdrawn: _.. information Onl. 03/10/2001. 2097, 335.00. eee fee tetas ee 04/15/2001. 1099 18.50. ce oe ee 04/12/2004. A115, _. 100,00 — _ a 04/13/2001. 1129 a 110.00 _ 05/10/2001 1160) 742,50 _ a 05/10/2001... 1178 - 100.00__ _ — _ a 05/10/2007 1186 155.00 ee cee 05/10/2001 1187 es 365.00 _ _ ee 05/21/2001 _ 1189 1280.43 _ oe one Ending account balance (for statement period): $30964.49 Add deposits not credited: + $6770.07 Subtract outstanding checks: - $16,692.75 Total (this is the Adjusted Account Balance as of date reconciliation performed): $21,041.87 _ ADMIN'STRATIVE COMPLAINT. MSR-4 Rev.9/97 ©1997 Florida Association of REALTORS® All Rights Reseryed,, NET a This form is ticensed for use with Fornmulator® Forms Software v3.0 800-336-1 Rr 4 anne mmenniial AGE OF ate cee etter etree an PM o - Printed Qn: tsp le 43:40:33 Pubihit . __Page Monthly Reconciliation Statement Real Estate Trust Account FLORIDA ASSOCIATION OF REALTORS® To be used in compliance with Chapter 61J2-14.012(2), Florida Administrative Code 1. Trust Account Reconciliation Information Name of bank: Peoples Ist Community Bank _ _ __ ne —— ae Name of account: Property Management Trust, Bay Coastal Realty, inc. _ ee ieee nee Account number: 3313772 0 cee a _ 7 _ Reconciliation for the month of — _June, 2001 : Date used for reconciliation: 05 /_31 /_2001_ Bank statement period 05 / 01/2001 through 05 / 31 / 2001. Date reconciliation performed: 06/17 / 2001. 2. Adjusted Account Balance Outstanding Checks Deposits Not Credited Date Check # Amount Date Amount 05/21/2001 |... i) ne $38.26. ee $n 05/29/2001. _ 1192, 3198.00 tenn nine ee a - 05/21/2001. 1193 0 85.00 _ ne 05/21/2001 1194.00 36.35 0 ee enti 05/30/2001 1195. 100.00. seen - _— 05/30/2001. 1197 _ 155.00 en we 05/30/2001 1999 15.00___ - _ _. Carry to. FrontPage 0 === a a wn Ending account balance (for statement period): $3,627.67 0 Add deposits not credited: + $ Subtract outstanding checks: - $ Total (this is the Adjusted Account Balance as of date reconciliation performed): $ 3,627.61 za MSR-4 Rev.9/97 ©1997 Florida Association of REALTORS® All Rights Reserved This form is licensed for use with Famnmnusator® Forms Software v3.0 800-336-1027 PAGE PM MayA 2001 - Printed On: Monday, June 18, 2001 13:43:19 fo o~ 3. ‘Itemized List of Broker's Trust —_aility t Client/Transaction Name: Reconciled Balance Owners. _ $ 20989.79 __ _ $ - - $ —. ~ $ _ = _ $ _— $ -- $ _ — $ $ . . _~ $ — . _ $e ~ — $ a on ——— - $ — - —_ $ ee a $ a _ ee $_. — — a _— $ __ Total of Broker's Trust Liability (Total of all deposits received, pending and being held by Broker as of the date reconciliation performed): $ 20989.79 4. Comparison of Reconciled Trust Account Balance with Broker's Trust Liability: Adjusted Account Balance (from paragraph 2) $ 21,041,814 Broker's Trust Liability (from paragraph 3) $ 20989.79 If Adjusted Account Balance and Broker's Trust Liability agree, sign the Reconciliation Statement. If Adjusted Account Balance and Broker's Trust Liability do not agree, complete the following to explain the difference. Then, sign the Reconciliation Statement. , (1) Shortages: (Adjusted Account Balance is less than Broker's Trust Liability) Total Shortage: $=. Reason for shortage (i.e., nsf, service charge, negative balance): Corrective Action Taken: MSR-4 Rev.9/97 ©1997 Florida Association of REALTORS® All Rights Reserved : This form is licensed for use with Formullator® Forms Software v3.0 800-336-1027‘ ** i vi a -wee 7 _ Ter mcrae dal cw mR Eee or a ser ’ PM May 2001 - Printed On: Monday, June 16, 2001 15:40:00 ae Pane “27 sé (2) Overages: ¥ . we (Adjusted Account Balance i .vore than Broker's Trust Liability) Toi. verage:$ $2.02 ot Check only if applicable: S| Overage is due to deposit of Broker's own funds (not exceeding $200.00) into account for maintenance purposes in accordance with Rule 61J2-14.010(2). Other Reason for Overage: 442,02-116.50 Checks-$3.00 Service Charge -5.00 Return Check Charge +34.50 Credit fram Peoples Tst on Checkbook Binder _ Corrective Action Taken: 5, Signature {, _ 7 Robert D, Sterrett _.. _______.___.. ,Broker, reviewed this monthly statement/reconciliation on _ ___ dune 16,2007 . Robert D. Sterrett Broker's signature (required on all Reconciliation Statements) This form is available for use by the entire real estate industry and is not intended to identify, the user as a REALTOR®. REALTOR® is a registered collective membership mark that may be used only by real estate licensees who are members of the National Association of REALTORS® and who subscribe to its Code of Ethics. The copyright taws of the United States (17 U.S. Code) forbid the unauthorized reproduction of blank forms by any means including facsimile or computerized forms. MSR-4 Rev.9/97 ©1997 Florida Association of REALTORS® All Rights Reserved: 387°: This form is Jicensed for use with Fanmusater® Forms Software v3.0 600-336-1027 4 5 PM May to + Printed On: Monday; June 18; 2007 13:40:00 Exhibit Pane “BH. Monthly Reconciliation Statement Real Estate Trust Account FLORIDA ASSOCIATION OF REALTORS® To be used in compliance with Chapter 61J2-14.012(2), Florida Administrative Code 1. Trust Account Reconciliation information Name of bank: Peoples ist Community Bank __ _ a Name of account: Property Management Trust, Bay Coastal Realty, Inc. Account number: 3313772 Reconciliation for the month of ____ June, 2001 coe Bank statement period 06 /_01 / 2001 through 06 / 30 / 2007 . 2. Adjusted Account Balance Outstanding Checks Date Check # Amount 02/13/2007__._. 1019 $63.62 03/31/2001 1086,1132,1207__ 6,629.24. 04/13/2001 1129 110.00 05/10/2001 113200 2250.00 05/10/2001. 1199 15.00 05/10/2001 1207 1200.00 06/10/2001... 1205 132.00 06/10/2001... 122700 100.00 06/10/2001 4229, 335.00 06/10/2001. 123¢ 200.00 06/10/2001 1239 75.00 06/10/2001 1247. 10.00 Ending account balance (for statement period): Add deposits not credited: + Subtract outstanding checks: - Total (this is the Adjusted Account Balance as of date reconciliation performed): A EXHIBIT # Alt Rights Reserved 800-336-1027 MSR-4 Rev. 9/97 ©1997 Florida Association of REALTORS® This form is licensed for use with Fornnulater® Forms Software v3.0 Date used for reconciliation: Deposits Not Credited Date Amount 05/30/2007. $6629.24 06/01/2001 725.008 06/01/2001 300.00. 06/01/2007... 450.00... 06/30/2001 110.12 _ $ 21,570.81. — $8,214.96 00 $ 10,989.28 $ 18,795.89 ee DM: PM June 2904 - rns ran Leu 12:25:08 pant 2D — Monthly Reconciliation Statement Real Estate Trust Account FLORIDA ASSOCIATION OF REALTORS® To be used in compliance with Chapter 61J2-14.012(2), Florida Administrative Code 69 4. Trust Account Reconciliation Information ! Name of bank: Peoples Ist Community Bank cee wee a Name of account: Property Management Trust, Bay Coastal Realty, Inc... a _ _ Account number: 3313772 __ ee _ neeceece eeu a Reconciliation for the month of ___ July, 2001 _- Date used for reconciliation: 07./_31 /_2001_ Bank statement period 07 /.01 /_2001 through _07 / 31 / 2007. . Date reconciliation performed: _08 / 17 /_2001 2. Adjusted Account Balance Outstanding Checks Deposits Not Credited Date Check # Amount Date Amount 02/13/2001. 1099 $63.62. 05/30/2001. $6629.24... 03/31/2001_. 1086,1432,1204 _ 6,629.24. 06/01/2001 __. _. 1086.85 . 06/10/2001___ 1205 0 132.00... 06/01/2001 1927.96, 06/10/2001. 1206... 200.00... ae oct 07/10/2001___ 2207 on 200.00 nn cone cee weeniemenenets 07/10/2001. 1230.0 _ 200.00. = _ — _ 07/10/2001__ 124700 10.00.00 a _ 07/10/2001. 1267... 484.30 07/10/2001 1268 80.00 — ~ a 07/10/2004 1284_ a 718,50 - — 07/10/2001 1287 713,00 - 07/10/2004... 12930 1486.76 — re Ending account balance (for statement period): $28004.75_ 2 Add deposits not credited: + $8,844.05 00 Subtract outstanding checks: - $18680.44 000 Tatal (this is the Adjusted Account Balance as of date reconciliation performed): $18,795.89 ATS RAR T ARMIES ie B AUR MSR-4 Rev.9/97 ©1997 Florida Association of REALTORS® All Rights Reserved EX }+ 2... . This form is licensed for use with Fammulator® Forms Software v3.0 800-336-1027 cn ncn eret tenn email PAGE |, OF . PM July 2004 - = Friday, August 17, 21 eo Page Piss Paper oti ats 2 Monthly Reconciliation Statement Real Estate Trust Account FLORIDA ASSOCIATION OF REALTORS® To be used in compliance with Chapter 61J2-14.012(2), Florida Administrative Code 4. Trust Account Reconciliation Information Name of bank: Peoples fst Community Bank Name of account: Property Management Trust, Bay Coastal Realty, inc. Account number: 3313772... -- Reconciliation for the month of __ _ August, 2007__ Bank statement period 08 / 01 / 2001 through .08 /_31./_2001_. Date reconciliation performed: .09 / 16 /_2001_ 2. Adjusted Account Balance Outstanding Checks Date Check # Amount 02/13/2001 __ 1019. $ 63.62, 03/31/2001... 1086,1132,1207 07/10/2001. 9247 07/10/2001. 1284 07/10/2004... 1310_ 50.00 08/30/2001 __ 1338 125.00. 08/30/2001 1361 __ 505.00 08/30/2001 1386.00 08/30/2007, 1387000 170.00. 08/30/2001 1388 240.00 08/30/2001, 1389) 34.17. 08/30/2001 1390 60.88 Ending account balance (for statement period): Add deposits not credited: Subtract outstanding checks: Total (this is the Adjusted Account Balance as of date reconciliation performed): MSR-4 Rev.9/97 ©1997 Florida Association of REALTORS® This form is licensed for use with Farmtulatar® Forms Software v3.0 10.00 715.50 6,629.24 735.96 _ All Rights Reserved: «!. 800-336-1027 ety Date used for reconciliation: 08 / 31 /_2004_ Deposits Not Credited Date Amount 05/30/2001. $6629.24... 08/30/2001... 95.00 - _ Sept Rent __ 895.00 $ 23296.66_ _ - + $5,829.24 220 - $ 9803.97 $ 19,321.93 ADMINICT ee Serre regmernie we Ve OF PM August 2001 - Printed On: Tuesday, September 17, 2002 10:17:52 Dana DEA reun 7 -- a @ @ Monthly Reconciliation Statement Real Estate Trust Account FLORIDA ASSOCIATION OF REALTORS® To be used in compliance with Chapter 61J2-14.012(2), Florida Administrative Code 1. Trust Account Reconciliation Information Name of bank: Peoples Ist ( Community Bank __ __ ee Name of account: Property Management Trust, Bay Coastal Realty, inc. ee _ oe Account number: 3313772 _ ae —_. es wi Reconciliation for the month of ——-..—._September, 2001 __ . Date used for reconciliation: 09 / 30.1 2001 Bank statement period 09 101 /_2001_ through 09 / 30/2001 . 2. Adjusted Account Balance Outstanding Checks Deposits Not Credited Date Check # Amount Date Amount 03/31/2001 1086,1132,120_. $6629.24 05/30/2001 $6629.24 O7/10/2001. 1247 10.00. 02/13/2001 63.62 07/40/2001. 128400 715.50 ae ee 07/10/2001. 1310 50.00 __ —_ oe - 07/10/2001. 1938 125.00 . wo 08/30/2001 1387, 170.00 _ . ae 08/30/2001 1393 __ 289.60 _ 09/30/2001 ___ 1436 . 270.00 a - — 09/30/2001 44g 70.50 _. 09/30/2001 1446 . 193.00 _ . a 09/30/2001 1447 60.00 _ a. og/3o/2001 1397, 855.00 _ a Ending account balance (for statement period): $22162.06 Add deposits not credited: + $6,692.86 Subtract outstanding checks: - $10053.16 —_ Total (this is the Adjusted Account Balance as of date reconciliation performed): $ 18,801.7 ADMIN: EMH MSR-4 Rev. 9/97 ©1997 Florida Association of REALTORS® All Rights Reserved - This form is licensed for use with Formulator® Forms Software v3.0 800-336-1027" PM September 2001 - Printed On: Wednesday, Octobar 47, 2001 12:14:16 evint / JS Page 372 * Monthly Reconciliation Statement Real Estate Trust Account FLORIDA ASSOCIATION OF REALTORS® To be used in compliance with Chapter 61J2-14.012(2), Florida Administrative Code 1: MSR-4_ Rev. 9/97 Trust Account Reconciliation Information Name of bank: Peoples Ist Community Bank Name of account: Property Management Trust, Bay Coastal Realty, Inc. oem 6b bee coef MN OFC 20 P bag Account number: 3313772. _ Reconciliation for the month of . Date used for reconciliation: 10 / 34 / 2007 Date reconciliation performed: .17./ 19 /_2007_ Adjusted Account Balance Outstanding Checks Date Check # Amount 05/30/.2001. 1086,1132,1201 $6629.24. 06/30/2001 1247 10.00 07/30/2001 1284 715.50 07/30/2001 1310 50,00. 08/31/2001 i 1393 . 289.60. 0 10/30/2001. 1454 - 726.00. 10/30/2001. 1458 373.96 10/30/2001 1491 265.00 10/30/2004 1505 _ 479.23, Ending account balance (for statement period): Add deposits not credited: Subtract outstanding checks: Total (this is the Adjusted Account Balance as of date reconciliation performed): ©1997 Fiorida Association of REALTORS® This form is licensed for use with Fommutllatar® Forms Software v3.0 ADM All Rights resirtdd |BIT #lLO - 800-336 HORE Deposits Not Credited Date Amount 05/30/2001. $6629.24 10/30/2001. 19.00. $ 22,273.04 $ 6,648.24 ~ $ 19,382.75 ATIVE COMPLAINT. PM October 2601 - Printed an: Sunday, November 18, 2004 15:44:48

Docket for Case No: 04-004524PL