912593--3/13/2009--SUN_COMMUNITIES

related topics

{loan, real, estate}

{investment, property, distribution}

{acquisition, growth, future}

{debt, indebtedness, cash}

{tax, income, asset}

{condition, economic, financial}

{stock, price, operating}

{cost, regulation, environmental}

{loss, insurance, financial}

{provision, law, control}

{personnel, key, retain}

{interest, director, officer}

{regulation, change, law}

{stock, price, share}

General economic conditions and the concentration of our properties in Michigan, Florida, Indiana, and Texas may affect our ability to generate sufficient revenue. Competition affects occupancy levels and rents which could adversely affect our revenues. Our ability to sell or lease manufactured homes may be affected by various factors, which may in turn adversely affect our profitability. Increases in taxes and regulatory compliance costs may reduce our revenue. We may not be able to integrate or finance our development activities. We may not be able to integrate or finance our acquisitions and our acquisitions may not perform as expected. Rent control legislation may harm our ability to increase rents. We may be subject to environmental liability. Losses in excess of our insurance coverage or uninsured losses could adversely affect our cash flow. Our significant amount of debt could limit our operational flexibility or otherwise adversely affect our financial condition We may be able to incur substantially more debt, which would increase the risks associated with our substantial leverage. Our equity investment in Origen Financial, Inc. may subject us to certain risks. FINANCING AND INVESTMENT RISKS, CONTINUED The financial condition and solvency of our borrowers may adversely affect our installment and other loans. We may suffer adverse tax consequences and be unable to attract capital if we fail to qualify as a REIT. We intend for the Operating Partnership to qualify as a partnership, but we cannot guarantee that it will qualify. Our ability to accumulate cash may be restricted due to certain REIT distribution requirements. Some of our directors and officers may have conflicts of interest with respect to certain related party transactions and other business interests. We rely on key management Certain provisions in our governing documents may make it difficult for a third-party to acquire us. Changes in our investment and financing policies may be made without stockholder approval. Substantial sales of our common stock could cause our stock price to fall An increase in interest rates may have an adverse effect on the price of our common stock. The current volatility in economic conditions and the financial markets may adversely affect our industry, business and financial performance.

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912593--3/13/2009--SUN_COMMUNITIES_INC