Exhibit B -- Specifics of the Loan

Artist Rendition

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California Residents Only

Loan Number: N1774
Minimum participation: $25,000
Loan Amount: $1,960,000
Type: First Mortgage
Yield: 12.0%*

PROPERTY

Project: CAMP STREET CONDOS

Property address: 828 Camp Street, New Orleans, LA 70130

Description: The subject property is secured by a PROPOSED 13,647 square foot condominium conversion project that will consist of 9 residential units and 1 commercial unit located in New Orleans, LA.

EQUITY ANALYSIS

OPERATING STATEMENT

INCOME Rental Income Other Income
. . . . . . . . . . . . . . . . . Total Income:
Less 5% Vacancy Allowance
. . . . . . . . . Effective Gross Income:

EXPENSES Gas and Electric Insurance Salaries & Wages Management Offsite Repairs & maint. Taxes (Real Estate) Reserves for replacement Miscellaneous Legal & Audit Advertising Interest Total Expenses:     NET OPERATING INCOME Note: Appraiser did not use income approach.

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TERMS

BORROWERS

CAMP STREET CONDOS

This investment is secured by a PROPOSED 13,647sf condominium conversion project that will consist of 9 residential units and 1 commercial unit located in New Orleans, LA. This property is located in the FEMA flood zone B, which is described as an area between the 100 and 500 year flood zone. This property is located within the 20% of New Orleans that did not flood during Hurricane Katrina and Hurricane Rita.

Because of the size of the loan, Blackburne and Brown sent one of its employees, Ryan Jessen, down to New Orleans to inspect the site. Ryan was pleasantly surprised with the neighborhood. He felt quite safe and comfortable. He noted that the neighborhood had an artsy feel to it, with some art galleries nearby. The project was also located within walking distance of the central business district of New Orleans.

New Orleans, the 38th largest U.S. city, is a major United States port city and historically the largest city in the state of Louisiana. New Orleans is in southeastern Louisiana along the Mississippi River, just south of Lake Pontchartrain, arid is coextensive with Orleans Parish. It is named after Philippe II, Duke of Orleans, Regent of France, and is one of the oldest cities in the United States. New Orleans is known for its multi cultural heritage as well as its music and cuisine. It is considered the birthplace of jazz. Its status as a world famous tourist destination is due in part to its architecture and its annual Mardi Gras and other celebrations. It has been called the “most unique” city in America.

The Greater New Orleans population was approximately 1.4 million people prior to hurricane Katrina (the metro area has rebounded to 1 .2 million residents since Katrina). Within the city limits of New Orleans itself, the population was 484,674 people (according to the 2000 U.S. census). Since Hurricane Katrina, the population within the city limits of New Orleans itself has been estimated to be between 187,525 and 287,000.

New Orleans has many major attractions, from the world-renowned Bourbon Street and the French Quarter’s notorious nightlife, St. Charles Avenue (home of Tulane and Loyola Universities). Favorite tourist scenes in New Orleans include the French Quarter, which dates from the French and Spanish eras and is bounded by the Mississippi River and Rampart Street, Canal Street and Esplanade Ave. The French Quarter contains many popular hotels, bars, and nightclubs, most notably around Bourbon Street. The most notable tourist attractions in the quarter include Jackson Square, St. Louis Cathedral, the French Market, and arid jazz at the Preservation Flail. Following Hurricanes Katrina and Rita, bus tours of the damaged areas became popular and are still available.

The subject property is located in the Warehouse District of New Orleans. The Warehouse District is considered the Arts District of New Orleans and contains numerous art galleries, museums, restaurants, and condominium developments. The property is located in walking distance of some of the cities attractions including Emeril’s, Trump’s International Hotel and Tower, the French Quarter, Superdome, and The National World War II Museum.

The property is bordered by a three story law office to the left and a parking garage to the right. Past the law office at the corner of Camp and Julia is a Firestone Auto Care. Adjacent to the parking garage is an already completed townhouse development. Across the street are similar condominium redevelopments.

The lack of formal parking is a negative to this project. Right now the new condo owners will park in the parking garage next door; however, the area is undergoing gentrification, so the parking structure adjacent to our property will probably someday to torn down to make room for more condo’s. In fact, our borrower wants to do a joint venture with the owner of the parking garage someday.

The property consist of an un-renovated “shell” building which is comprised of a 1 and 2 story building containing approximately 2,314 square feet. The site contains an area of 7,392 square feet. The proposed condominium project will consist of 9 residential units (5 one-bedroom units, 4 two bedroom units) and 1 ground floor commercial unit to be considered ultra-modern and energy efficient with good quality finishes. The building size will be expanded to 13,647 square feet.

According to our appraiser, the demand for condominiums in the Warehouse District is very strong. Since Hurricane Katrina, a number of new apartment developments have been announced in the CBD and Warehouse District, which would take advantage of the special tax provisions of the Louisiana Recovery Act. Most of the new condo proposals have been for large, high rise, luxury condos which have met with some resistance due to their prices. Consequently, relatively few new condos have come on the market since the Hurricane, despite the fact that condo prices appear to have risen more than $50 per square foot since the Hurricane.

Our borrowers, a husband and wife, are taking title in a newly-formed LLC, but will be providing their personal guarantee. He is an architect, and she works in the design field. They reported taxable income of $54,045 in 2005 and $133,375 in 2006. Their personal net worth is approximately $782,000 (not including their interest in this property) and they have credit mid-scores of 706 and 680.

They purchased the property in 2004 for $398,000. He has put in an additional $265,000 towards the property, mainly in architect, engineering, demolition, and legal fees. Our loan will be used for the building costs, loan acquisition costs, and an 18 month interest reserve account. The borrower is planning to complete the project in 6-9 months and begin selling the units. The borrower estimated he could sell the units for approximately $375 a square foot. Our appraiser estimated the units would sell for approximately $350.00 a square foot. We also received two brokers professional opinions of value which stated these units could sell on an average of $338.50 per square foot. We have found that appraisers tend to be a little bit optimistic and brokers price opinions tend to be a little pessimistic. Therefore, it is reasonable to say the true selling price will be somewhere in that range.

At a 55.3% loan-to-value, a 12.0% yield, and a 18-month interest reserve, this appears to be a reasonable investment. Every first mortgage investment involves substantial risk, so be sure to read the Risk Factors section of the Offering Circular before investing. A substantial and prolonged decline in real estate values is possible.

For California Residents Only INVEST IN CORN FARM LAND Take Advantage of Rising Corn Prices Due to Increasing Ethanol Demand Over 75 New Ethanol Plants Are Currently Under Construction1 Wealthier Chinese and Indian Middle Class Consumers Are Eating More Meat – Two-Thirds of Corn Production is Used to Feed Livestock2 Farm Land Produces Income Even During Recessions Invest With as Little as $5,000 Very Suitable for IRA’s Farm Land Purchased With All Cash – No Leverage Used Each Farm Inspected By Certified Agronomist3 Farms Leased to Experienced Growers Short Term Investment – Just 3.5 to 4 Years Farms Will Be Sold When Most of the New Ethanol Plants Are Completed Investments Managed By Blackburne & Brown, a 27-Year-Old Company BLACKBURNE & BROWN MORTGAGE COMPANY, INCORPORATED IS CURRENTLY SERVICING OVER $50 MILLION IN FIRST MORTGAGE AND CORN FARM LAND INVESTMENTS FOR OVER 900 PRIVATE INVESTORS For An Offering Circular Please Call Warren More at 916-338-3232 or CLICK HERE Only Accredited Investors are suitable to invest in Blackburne & Brown Equity Preservation Fund, LLC, which will invest in corn farm land investments.  In order to qualify as an Accredited Investor, an individual Investor must satisfy the requirements of either paragraph (1) or (2) below and, in addition, must satisfy the requirements of  paragraph (3) below: (1)        The Investor’s net worth, or joint net worth with such investor’s spouse, at the time of purchase must exceed $1,000,000 (the value of the Investor’s home, furnishings and automobiles may be included for purposes of calculating such investor’s net worth under this paragraph); or (2)        The Investor’s income exceeded $200,000 in each of the two most recent years, or joint income with his or her spouse exceeded $300,000 in each of those years, and the investor has a reasonable expectation of reaching the same income level in the current year; and (3)        Each Investor must have either:  (a) a net worth of at least $250,000 and an annual gross income of at least $65,000; or (b) a net worth of at least $500,000. (the value of the Investor’s home, furnishings and automobiles may not be included for the purposes of calculating such Investor’s net worth under this paragraph).Other standards may apply to investors that are not individuals, such as trusts, partnerships or other entities.  Specific questions concerning Accredited Investor status should be directed to the Manager.All Units may be acquired for investment purposes only, and not with a view to, or for resale in connection with, any distribution thereof (see, “Restrictions on Transfer”). --------------------------------------------- 1Biofuels Journal, November 6, 2006 2Mark McLornan, Argo Terra, global farming company, DailyReckoning.com, March 19, 2007 3Marc Eads, Certified Farm Analyst (CFA) This notice does not constitute an offer to sell corn farm land investments. An offer is made only through an Offering Circular.  Investing in corn farm land involves substantial risk.  Please be sure to read the Risk Factors section of the Offering Circular before investing. For An Offering Circular Please Call Warren More at 916-338-3232 or CLICK HERE   Blackburne & Brown Mortgage Company, Inc.--For more information, contact George Blackburne 4811 Chippendale Drive, Suite 101, Sacramento, CA 95841 telephone: (916) 338-3232 * Fax: (916) 338-2328 Real Estate Broker -- California Department of Real Estate -- License Number 829677 Publicly advertised to California residents only under California Department of Corporations business plan permit. Return to C-Loans Home Page | Return to Blackburne.com Home Page Copyright © 2008 Blackburne & Brown Mortgage Company, Inc. All rights reserved. 800-606-3232 If you wish to not receive our e-mail investment bulletins in the future, please send an e-mail with "bulletin unsubscribe" in the subject line.