previous - ideas - further

        ID-9-3          Members' Agreements.          January 8th,   1986

                               Members' Agreements.

        1)   LETS is a non-profit agency whose rights and authority are 
             vested in a TRUSTEE who acts as an agent for the members who 
             are principals.  LETS provides a service which allows 
             members to exchange information to support trading and 
             maintains such accounts of that trading as members request.

        2)   Members shall be willing to consider trading in green dollars.

        3)   The trustee will transfer green dollars from one member's 
             account to that of another only on the authority of the 
             member making payment.

        4)   The trustee may decline to record an acknowledgement 
             considered in appropriate.

        5)   A "green dollar" shall be considered to represent a dollar.

        6)   A member may know the balance and turnover of another member.

        7)  (a)   Accountability for taxes incurred by members is the 
                  obligation of those involved in an exchange, and LETS 
                  has no obligation or liability to report to taxation 
                  authorities or to collect taxes on their behalf.

            (b)   No warranty or undertaking as to value, condition, or 
                  quality of the items exchanged is expressed or implied 
                  by virtue of the introduction of members to each other.

            (c)   While all information on member accounts excepting 
                  balance and turnover, is considered personal and 
                  confidential, the LETSystem cannot guarantee that 
                  confidentiality, or necessarily be held liable for any 
                  breach of it.

        8)   The trustee is authorized to levy charges on members' 
             accounts in green dollars at rates assessed by the trustee 
             in liason with the Board of Advisors.

        9)   The trustee may act on behalf of the community in seeking 
             satisfaction from a member whose account is deliquent.

        All these agreements must be observed for an organization to 
        qualify as a LETSystem.

        Landsman Community Services Ltd.              ID-9-3    Page    1

previous - ideas - further