Investment Bulletin


Loan Number: 864
Loan Amount:
$87,159.87
Type: First Trust Deed
Yield: 11.0%

**** For Instructions on How to Invest in this Loan ****


TERMS

Terms of Investment . . . . . . . . . . . . 30 months
Current interest rate . . . . . . . . . . . . . . . .11.0%*
Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .N/A
Spread over the index . . . . . . . . . . . . . . . . N/A
Frequency of rate changes . . . . . . . . . . . .N/A
Interest rate ceiling. . . . . . . . . . . . . . . . . . . N/A
Interest rate floor . . . . . . . . . . . . . . . . . . . . N/A
Discount points to the lender . . . . . . . . . .N/A
Repayment schedule . . . 30 year amortization
Monthly payment . . . . . . . . . . . . . . . . $835.66*
Frequency of payment change . . . . . . . . .N/A
Purchase price of the note . . . . . . . . . .$87,160
Current balance on the note . . . . . . . . $87,160
Maturity date . . . . . . . . . . . . . . . . . . 30 months
Balloon payment after 30 mos. appr.   $86,032
Late charge amount . . . . . . . . . . . . . . . . $96.38
Prepayment penalty . . . . . . . . . . . . . . . . .None
*Net of servicing costs

EQUITY ANALYSIS

Appraised Value as of May 29, 1996 . . . . . . . .$135,000
Less Senior Liens
First trust deed of . . . . . . . . . . . . . . . . . . . . . . . . . . $
Beneficiary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
P&I payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
Interest rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . %
Matures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Second trust deed of . . . . . . . . . . . . . . . . . . . . . . . .$
Beneficiary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
P&I payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
Interest rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . %
Matures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Third trust deed of . . . . . . . . . . . . . . . . . . . . . . . . . .$
Beneficiary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
P&I payment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$
Interest rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . %
Matures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Protective equity . . . . . . . . . . . . . . . . . . . . . . . . . . $47,841
Loan-to-value ratio . . . . . . . . . . . . . . . . . . . . . . . . 64.6%

PROPERTY

Project: FEATHER RIVER AUTO

Property address: 395 Garden Highway, Yuba City, CA 95991

Description: The subject property consists
of three buildings, an 839 sq.ft. single family
residence, a 900 sq.ft. shop, and a 120 sq.ft.
auto sales office.

OPERATING STATEMENT

INCOME
Rental Income . . . . . . . . . . . . . . . . . . . .$12,881
Laundry and Other Net Income . . . . . . . .N/A
. . . . . . . . . . . . . . . . . . . Total Income: $12,881
Less   5% Vacancy Allowance . . . . . . . . . 644
. . . . . . . . . . .Effective Gross Income $12,237

EXPENSES
Gas and electric . . . . . . . . . . . . . . . . . . . . .
Insurance . . . . . . . . . . . . . . . . . . . . . $2,000
Mgmt. offsite . . . . . . . . . . . . . . . . . . . . 367
Gardner . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Repairs & maint. . . . . . . . . . . . . . . . . . . 850
Salaries & Payroll . . . . . . . . . . . . . . . . . . . .
Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Taxes . . . . . . . . . . . . . . . . . . . . . . . . . .1,500
Payroll Taxes. . . . . . . . . . . . . . . . . . . . . . . .
Gardner . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Reserves for replacement . . . . . . . . . .300
Legal & Audit . . . . . . . . . . . . . . . . . . . 350
.
. . . . . . . . . . . . . . . . Total Expenses:   $5,367
NET OPERATING INCOME . . . . . .$6,870
Note: Based on appraiser's estimates.

BORROWERS

Name(s). . . . . . . . . . . Individuals
Net worth . . . . . . . . . . . .$320,000
His occupation . . . . . . . . Farmer
Employer . . . . . . . . . . . . . . . .Self
Employment income. . . . $25,000
Her occupation . . .Farm Worker
Employer . . . . . . . . . . . . . . . . Self
Employment income. . . . . . . . . .
Other income. . . . . . . . . . . . . . . .
Percent ownership . . . . . 100.0%
Name(s). . . . . . . . . . . . . . . . . . . .
Net worth . . . . . . . . . . . . . . . . . .
His occupation. . . . . . . . . . . . . .
Employer . . . . . . . . . . . . . . . . . . .
Employment income . . . . . . . . .
Her occupation. . . . . . . . . . . . . .
Employer . . . . . . . . . . . . . . . . . . .
Employment income. . . . . . . . . .
Other income. . . . . . . . . . . . . . . .
Percent ownership . . . . . . . . . . .
Name(s). . . . . . . . . . . . . . . . . . . .
Net worth . . . . . . . . . . . . . . . . . .
His occupation. . . . . . . . . . . . . .
Employer . . . . . . . . . . . . . . . . . . .
Employment income . . . . . . . . .
Her occupation. . . . . . . . . . . . . .
Employer . . . . . . . . . . . . . . . . . . .
Employment income. . . . . . . . . .
Other income. . . . . . . . . . . . . . . .
Percent ownership . . . . . . . . . . .

payment864.jpg (57848 bytes)

FEATHER RIVER AUTO

 

 

 

If you would like to talk to our investment department, please contact John Caldwell or Mike Thurman
at 916-338-3232 or 800-606-3232 between the hours of 8:30 a.m. and 5:00 p.m. PST Monday--Friday.

Please read our Audited Financial Statements of Blackburne & Brown, Inc.

Real Estate Broker
California Department of
Real Estate -- License Number 829677

Copyright © 1999 Blackburne & Brown Mortgage Company, Inc. All rights reserved.

None of the Above Non-resident Qualifications Not a California Resident California Resident