Harmony55, LLC Loan #3401

This First Trust Deed is collateralized by 14 approximate 0.45 acre adjacent, partially-developed residential lots located near the intersection of Buffalo Drive and Agate Avenue (just north of Blue Diamond Road / Nevada State Route 160) in southwest Las Vegas, Nevada. The 14 subject lots are part of a 55-lot, approximate 25.8 acre assemblage owned by the Borrower. The Borrower intends to develop the assemblage as the Canyon Falls residential subdivision which will feature higher-end, luxury single family homes. A portion of the loan proceeds will be used for land improvements to ready the property for vertical construction.

Harmony Homes is a homebuilding company based in Southern Nevada founded by principals with over two decades of builder/developer experience. Harmony Homes’ team has developed extensive community relationships, contacts, and considerable experience in land development and construction in Nevada with over 15 communities in active development in the Las Vegas area.

Loan Amount: $770,000

Estimated Value: The estimated "As-Is" value for the 55-lot assemblage is $5,700,000 ($103,636 per lot) as appraised by Horizon Village Appraisal (2/22/2011). The Appraisal proposed an “Upon Completion” value of $120,000
per lot.

Loan-to-Value: 53% based on the "As-Is" value for the 14 subject lots as detailed above.

Yield (principal value > $100,000): 10.75%
Yield (principal value < $100,000): 10.50%

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

Henry Walker Construction, LLC Loan #3402

This First Trust Deed is collateralized by an approximate 0.32 acre fully-developed residential lot ("Lot 9") located in the Brooklyn Meadows subdivision which is situated just west of Interstate 15 in South Jordan, Utah (approximately 15 miles south of Salt Lake City, Utah). Loan proceeds will be used for the vertical construction of a presold approximate 2,045 square foot, 3 bedroom, 2.5 bathroom home.

Henry Walker Construction, LLC became a new borrower with CM Capital Services in early 2010 and currently has 11 residential subdivisions in development in Utah.

Loan Amount: $260,000

Estimated Value: The estimated sales price for the completed home is $371,000.

Loan-to-Value: 70% based upon the estimated property sales price detailed above.

Yield (principal value > $100,000): 10.25%
Yield (principal value < $100,000): 10.00%

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

Henry Walker Construction, LLC Loan #3400

This First Trust Deed is collateralized by an approximate 0.5 acre fully-developed residential lot ("Lot 1330") located in the Eaglepointe Estates subdivision which is situated just east of Interstate 15 in North Salt Lake, Utah (just north of Salt Lake City, Utah). Loan proceeds will be used for the vertical construction of an approximate 2,190 square foot, 3 bedroom, 2.5 bathroom model home. The model home will include options and higher-grade finishes (including upgraded countertops, cabinetry, flooring, landscaping, paint, etc.) to showcase available options to potential homebuyers.

Note: The square footage detailed above represents finished square footage. This home will also include an unfinished basement that has square footage above and beyond that referenced above.

Henry Walker Construction, LLC became a new borrower with CM Capital Services in early 2010 and currently has 11 residential subdivisions in development in Utah.

Loan Amount: $315,000

Estimated Value: The estimated sales price for the completed home is $490,000.

Loan-to-Value: 64% based on the estimated sales price for the completed home.

Yield (principal value > $100,000): 10.25%
Yield (principal value < $100,000): 10.00%

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