Exhibit B -- Specifics of the Loan
California Residents Only
Loan
Number: 1697
Minimum participation: $25,000
Call for availability of smaller participations.
Loan Amount: $360,500
Type: First Mortgage
Yield: 9.0%
TERMS
Terms of Investment Current interest rate Repayment schedule Monthly payment Frequency of payment change Purchase price of the note Current balance on the note Maturity date Balloon pmnt. after 60 mos.app: Late charge amount Prepayment penalty *Net of servicing costs |
60 Months 9.0%* 30-year amortization $2,835.12* N/A $360,500 $360,500 60 Months $353,788 $340.60 None |
BORROWERS
Name(s) Net worth His occupation Employer Employment income Her Occupation Employer Employment Income Other Income Net Rental Income Percent ownership |
Individual
|
PROPERTY
Project: DISTRIBUTION WAY WAREHOUSE CONDO
Property address: 1351 Distribution Way, Unit 7, Vista, CA
Description: The subject property consists of a one-story, concrete tilt up industrial condo of 2,786SF.
EQUITY ANALYSIS
Appraised Value as of February 22, 2006 |
$515,000 |
OPERATING STATEMENT
| INCOME Rental Income Other Net Income |
. |
. . . . . . . . . . . . . . . . . . . . . . . . Total Income: |
$31,760 |
| Less 5% Vacancy Allowance | $1,588 |
. . . . . . . . . . . . . . . . Effective Gross Income: |
$30,172 |
EXPENSES Gas and Electric Insurance Water Management Offsite Repairs & maint. Taxes (Real Estate) Reserves for replacement Miscellaneous Legal & Audit Advertising Gardner Total Expenses: NET OPERATING INCOME Note: Pro Forma Based on appraiser's estimates. |
. |