Summary of SUN COMMUNITIES INC

Entry into a Material Definitive Agreement, Financial Statements and Exhibits

Item 1.01 Entry into a Material Definitive Agreement

On March 6, 2009, Sun Home Services, Inc. ("SHS"), a subsidiary of Sun Communities, Inc. (the "Company"), entered into a Ten Million Dollar ($10,000,000) manufactured home floorplan financing facility with 21st Mortgage Corporation (the "Facility"). The Company guaranteed repayment of the Facility. The Facility provided Six Million Dollars ($6,000,000) to refinance SHS's current inventory, with future advances to finance the acquisition of Clayton Home products. The Facility has a committed term of one (1) year; thereafter, advances are discretionary and terms are subject to change. The interest rate is the Wall Street Journal prime rate (with a floor of 6%) plus 1% per annum. Interest is payable monthly, and principal in respect of a unit of inventory is payable (i) in full for a unit of inventory, when the unit is sold; (ii) in full for a unit of inventory, upon demand, upon expiration of the manufacturer's repurchase obligation for such unit; and (iii) for a unit of inventory after three hundred sixty one (361) days, principal curtailments of 2% per month. A Documentation, Handling and Inspection Fee of eighty five dollars ($85) per location is payable monthly. A prepayment penalty of 5% of the outstanding balance of the Facility is payable if the Facility is refinanced during the first year. This brief description of the Facility is qualified in its entirety by reference to the full text of the respective agreements attached as Exhibits 10.1 through 10.3, and each is incorporated by reference into this Item 1.01.

Item 9.01 Financial Statements and Exhibits.

(d)             Exhibits.
Exhibit No.         Description
10.1                Inventory Security Agreement and Power of Attorney dated as
                    of March 6, 2009, executed by and between Sun Home Services,
                    Inc. and 21st MORTGAGE CORPORATION

10.2                Terms Schedule dated as of March 6, 2009, executed by and
                    between Sun Home Services, Inc. and 21st MORTGAGE
                    CORPORATION

10.3                Guaranty, dated as of March 6, 2009, executed by Sun
                    Communities, Inc. to and for the benefit of 21st MORTGAGE
                    CORPORATION