Business ProfileforAdam Michael Homes Ltd.

03/02/2021- Sent Check $7500 to **** Michaels Custom Home. 03/25/2021- DocuSign **ntract $660,800 03/31/2021 flew from our home in ********* to **- gave 2nd pymt of $58,580. Total Cash for New Home $66,080. The **nstruction loan closed on 05/13/2021. On 05/28/2021 Builder sent DocuSign to us in CA changing our **ntract from Fixed **st to Cost Plus 18%- On 10/19/2021- we learned from *********************** at ***************** that they had never received the Cost-Plus addendum and therefore it was not part of our loan agreement. ********************* intentionally defrauded us and the bank by changing the terms after the loan had closed. Which is a clear violation of 18 U.S.C. ****- Elements of Wire Fraud. We felt as though we had no choice but to sign the DocuSign since the builder already had $66080 of our money and was threatening not to **mplete the job. On October 20th,2021 after we dis**vered our bank had also been defrauded by the builder, ********************* about the **st plus as well as the draw request that did not match our **ntract, he became irate and told us we were not supposed to tell the bank that he had changed us to a **st plus. The following day he called the Lumber supply ** and had our lumber scheduled to be picked up but 2 hours after that call he submitted the same inflated fraudulent draw. He had no intentions of **mpleting our house but still attempted to get paid for work not done. On October 26th, 2021, the builder sent a demand letter and **nfirmed he had terminated our **ntract. However, he demanded we immediately pay him an additional $158,158.17 otherwise he would *** us. We are 8 mos into this **ntract, there have been **untless delays caused by the builder and now our loan will mature, and we are stuck with an unfinished foundation slab on a piece of land. This has been a financial burden as well as a scheme to defraud us from the first email that was sent to us in CA. We have retained a lawyer in ***** for the civil matter.