TERMS

Terms of Investment . . . . . . . . . . . . 60 months
Current interest rate . . . . . . . . . . . . . . . .12.0%*
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 . . . . . . . . . . . . . . . $2,857.63*
Frequency of payment change . . . . . . . . .N/A
Purchase price of the note . . . . . . . . .$247,500
Current balance on the note . . . . . . . $247,500
Maturity date . . . . . . . . . . . . . . . . . . . . . .60 mo.
Balloon payment after 60 mos. appr. $246,449
Late charge amount . . . . . . . . . . . . . . . $291.30
Prepayment penalty . . . . . . . . . . . . . . . . .None
*Net of servicing costs

EQUITY ANALYSIS

Appraised Value as of September 10, 1998 . . $450,000
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 . . . . . . . . . . . . . . . . . . . . . . . . . $202,500
Loan-to-value ratio . . . . . . . . . . . . . . . . . . . . . . . . 55.0%

PROPERTY

Project: PITTSBURG MINE COMPANY

Property address: 1600 Miner Street, Idaho Springs, CO

Description: The subject property is a   two-
story restrauant building located in beautiful
downtown Idaho Springs.  It's high arching
windows and intricately carved trim make this
property a gorgeous investment.

OPERATING STATEMENT

INCOME
Rental Income . . . . . . . . . . . . . . . . . . . .$50,400
Laundry and Other Net Income . . . . . . . .N/A
. . . . . . . . . . . . . . . . . . . Total Income: $50,400
Less 10% Vacancy Allowance . . . . . . . .5,040
. . . . . . . . . . .Effective Gross Income $45,360

EXPENSES
Gas and electric . . . . . . . . . . . . . . . . . . . . .
Insurance . . . . . . . . . . . . . . . . . . . . . .$2,700
Mgmt. offsite . . . . . . . . . . . . . . . . . . . . . . .
Gardner . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Repairs & maint. . . . . . . . . . . . . . . . . . . . .
Salaries & Payroll . . . . . . . . . . . . . . . . . . . .
Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Taxes . . . . . . . . . . . . . . . . . . . . . . . . . .4,527
Trash . . . . . . . . . . . . . . . . . . . . . . . . . .2,900
Gardner . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Reserves for replacement . . . . . . . . 1,385
Legal & Audit . . . . . . . . . . . . . . . . . . . . . .
.
. . . . . . . . . . . . . . . . Total Expenses:   $8,612
NET OPERATING INCOME . . . . .$36,748
Note: Based on appraiser's estimates.

BORROWERS

PITTSBURG MINE COMPANY