Exhibit B -- Specifics of the Loan

California Residents Only

Loan Number: N1855
Minimum participation: $25,000
Call for Availability of Smaller Participations
Loan Amount: $275,000
Type: First Mortgage
Yield: 11.0%*

PROPERTY

Project: LONGWOOD COMMERICAL BLDG.

Property address: 2000 Tree Fork Lane, Longwood, FL
Description: The subject property consists of 7,200SF office/warehouse on a 21,388SF parcel.

EQUITY ANALYSIS

OPERATING STATEMENT

INCOME Rental Income	. $72,000
. . . . . . . . . . . . . . . . . Total Income:	$72,000
Less 10% Vacancy Allowance	$7,200
. . . . . . . . . Effective Gross Income:	$64,800

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: Pro forma based on appraiser's estimates.

. $1,584 $2,592 $1,800 $4,258 $648 $10,880 $53,920

TERMS

BORROWERS

LONGWOOD COMMERICAL BLDG

This is a small, well-secured loan offering (31.2% Loan-to-Value) on a 7,200S/F office/warehouse in Longwood, Florida.

Longwood is in Central Florida, in the sphere of influence (15 miles north) of Orlando in Seminole County. Its 2006 population was 13,529, but as part of the 1.98 million greater Orlando area, it’s part of one of the fastest-growing of the Florida counties. In addition to growth the county also seeks to preserve its natural beauty with over 6,600 acres of nature preserves and public parks.

This office/warehouse is on a corner lot, only minutes from three major highways in the Big Tree Industrial Business park. The park was developed from the mid-1980's through the 1990's and is primarily composed of owner-occupied office/warehouses and light manufacturing facilities. Only a few blocks away is Seminole’s Big Tree Park where tourists come to picnic and view the parks main attraction, a 3500 year old Bald Cypress tree known to locals as “The Senator”.

The one-story 7,200 S/F building was built in 1986 and is on a fully-paved & landscaped 21,388 S/F lot. It is constructed with a steel frame with a beige brick veneer and a metal roof and is fully occupied by a printing company tenant. It has 11 parking spaces in front of the building with a few extras in the rear. The front 2,520 S/F is offices and showrooms with 4,680 S/F dedicated to warehouse space.

Our borrowers are a husband and wife who hold title through a closely-held furniture distribution corporation. They are providing their personal guarantees. The company was formed in 1993 and acquired the building for $290,000 in 1999. For several years it housed their company with 1/2 leased to a printing company. We are told that our borrowers are in contract to buy another building. They have just inked a 5-year lease with the printing company for the whole building at $4,140/month NNN (tenant pays utilities, taxes & insurance). The appraiser said this was below market, but it easily debt-services this loan.

The principals boast a net worth of $3.3 million and reflect an adjusted gross income of $38,940 in 2005 and $93,513 in 2006, almost directly mirroring the net income of their Sub-Chapter S Corporation. As an “S-corp.”, 100% of their income flows through to their personal tax returns. They do not report corporate salaries and have credit mid-scores of 557 and 539.

The business imports mostly from the far east and grossed $906,750 in 2005 and $938,448 in 2006,. netting $42,013 and $102,5132, respectively, after modest depreciation and interest expenses. As George Blackburne has often said, “give me a self-employed borrower who’s telling the IRS he actually made a little dough and I’ll show you someone who’s probably doing much better”. Unaudited, internal financials say the company grossed $1.1 million with a $197,622 net profit last year. The borrowers plan to pay off their $136,000 mortgage with the balance to be used to expand their inventory.

A new appraisal concluded the property value at $740,000, or $102 per S/F. We corroborated this with a local real estate broker’s opinion ($750,000 to $900,000 range) who concurred that the property is part of an award-winning light industrial, or flex-space, business park. We explored Loopnet.com, arguably the pre-eminent commercial real estate website, comparing listings to the subject and the appraiser’s comps. The range of listed properties was $103.90 S/F to $138 per S/F. We know that smaller, but otherwise equal, properties trade at a higher per S/F price than their larger counterparts, and that industrial property values differ due to the proportion of built-out office space. As this property is fairly small with 26% of built-out office space, the appraiser’s estimate seems reasonable. We like that it’s an attractive property and that we will be comfortably margined, with this loan at just $38.19 per S/F.

At an 11.0% yield and a 31.0% LTV, this loan appears to be a good 5-year 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.