3MO, LLC Loan #3359

This First Trust Deed consists of a four-story commercial building on 1.44 acres of land located approximately 1.5 miles west of the Las Vegas Strip. The existing building currently operates as the Deja vu Ultralounge. The building consists of a four-story structure in which the approximate 10,877 square foot main floor contains an adult entertainment nightclub with full liquor service. The three remaining stories are used for valet parking (120 parking spaces available) and the basement is used primarily as a staff locker area. Additionally, the two adjoining parcels directly north of the building are currently in use as surface-level parking for the nightclub (35 parking spaces available).

The property is currently leased to Harry Mohney, an adult entertainment industry mogul who manages nightclubs in 17 states. Per the current subject property lease agreement, Mr. Mohney has the option to buy the subject property for $10 Million by November 2013.

Loan Amount: $6,000,000

Estimated Value: N/A An appraisal dated 12/2006 (now considered out-of-date), indicated a value of $21,000,000.

Loan-to-Value: N/A

Yield (principal value > $100,000): 11.25%
Yield (principal value < $100,000): 11.00%

Term: 12 Months with no optional extension periods at maturity

Breen Road Lonestar Partners, Ltd Loan #3350

This First Trust Deed is collateralized by approximately 11 acres of raw commercial land situated in Richmond, Texas (located about 30 miles southwest of Houston, Texas). The subject 11 acres, which constitutes a portion of parcels referenced in the graphic on the left, are comprised of the following:

• A portion of Parcels 1 and 2 totaling approximately 7.7 acres of raw commercial land. This subject acreage is planned to be subdivided, developed, and marketed for sale as outparcel pads. This subject acreage fronts Bellaire Boulevard and is located across the street from The Shops at Bella Terra, a retail center that currently includes Walmart and other retail tenants, restaurants, etc.
  
  
• An approximate 3.3 acre portion of Parcel 2. This subject acreage is currently under contract for sale to a gas station chain and planned for development of a gas station that includes a fast food restaurant. This subject acreage is located on the southwest corner of Bellaire Boulevard and Grand Parkway and is located across the street from The Shops at Bella Terra.

Loan Amount: $2,750,000

Estimated Value: $5,500,000 (As-Is Value) for the 11-acre subject property as appraised by CB Richard Ellis (7/13/2010)

Loan-to-Value: 50%

Yield (principal value > $100,000): 11.25%
Yield (principal value < $100,000): 11.00%

Term: 12 Months with one optional 12-month extension period at maturity

Henry Walker Construction, LLC Loan #3358

This First Trust Deed is collateralized by an approximate 0.49 acre fully-developed residential lot located in the Havenwood subdivision, situated just west of Interstate 15 in Kaysville, Utah (about 25 miles north of Salt Lake City). Loan proceeds will be used for the vertical construction of an approximate 1,622 square foot, 3 bedroom, 2 bath home.

Loan Amount: $188,300

Estimated Value: $289,640 is the estimated sales price for the home. An appraisal is on order and will be received prior to loan funding.

Loan-to-Value: N/A (65% Loan-to-Cost based upon the estimated property sales price)

Yield (principal value > $100,000): 11.25%
Yield (principal value < $100,000): 11.00%

Term: 6 Months with one optional 6-month extension period at maturity