TELACU HOUSING - COMMERCE II, INC. IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF CALIFORNIA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 24 UNIT COMMUNITY KNOWN AS TELACU GARDENS LOCATED IN THE CITY OF COMMERCE, CALIFORNIA, WHICH PROVIDES HOUSING FOR THE HANDICAPPED. THE CORPORATION RECEIVES HOUSING ASSISTANCE PAYMENTS FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PURSUANT TO SECTION 811 OF THE NATIONAL HOUSING ACT, AS AMENDED.