FUNDED
Henry Walker Construction, LLC Loan #3399

This First Trust Deed is collateralized by an approximate 0.23 acre fully-developed residential lot ("Lot 13") 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 1,634 square foot, 2 bedroom, 2.5 bathroom home.

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: $194,000

Estimated Value: The estimated sales price for the completed home is $299,000.

Loan-to-Value: 65% 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

FUNDED
Henry Walker Construction, LLC Loan #3398

This First Trust Deed is collateralized by an approximate 0.10 acre fully-developed residential lot ("Lot 115") located in the Cottages subdivision which is situated in South Jordan, Utah (located approximately 15 miles from Salt Lake City, Utah). Loan proceeds will be used for the vertical construction of a presold approximate 1,793 square foot, 3 bedroom, 2.5 bathroom home.

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: $189,000

Estimated Value: The estimated sales price for the completed home is $270,000.

Loan-to-Value: 70% 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

FUNDED
Henry Walker Construction, LLC Loan #3396

This First Trust Deed is collateralized by an approximate 0.10 acre fully-developed residential lot ("Lot 117") located in the Cottages subdivision which is situated in South Jordan, Utah, (located approximately 15 miles from Salt Lake City, Utah). The Cottages subdivision is within walking distance from "The District," a shopping center that includes major retail and dining amenities, as well as a movie theater. Loan proceeds will be used for the vertical construction of an approximate 1,469 square foot, 3 bedroom, 2 bathroom home.

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: $160,000

Estimated Value: The estimated sales price for the completed home is $245,000.

Loan-to-Value: 65% 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

FUNDED
Henry Walker Construction, LLC Loan #3395

This First Trust Deed is collateralized by an approximate 0.05 acre fully-developed residential lot ("Lot 919") located in the Bridlewalk subdivision which is situated just west of Interstate 15 in Kaysville, Utah (approximately 25 miles north of Salt Lake City, Utah). Loan proceeds will be used for the vertical construction of an approximate 1,773 square foot, 3 bedroom, 2.5 bathroom home.

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: $162,000

Estimated Value: The estimated sales price for the completed home is $250,000.

Loan-to-Value: 65% 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

FUNDED
Henry Walker Construction, LLC Loan #3397

This First Trust Deed is collateralized by an approximate 0.26 acre fully-developed residential lot ("Lot 6") located in the Candlewood subdivision which is situated just west of Interstate 15 in Layton, Utah (approximately 25 miles north of Salt Lake City, Utah). Loan proceeds will be used for the vertical construction of an approximate 1,565 square foot, 3 bedroom, 2 bathroom home.

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. See attached floor plan for more details.

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: $155,000

Estimated Value: The estimated sales price for the completed home is $238,000. An appraisal is on order and will be received prior to loan funding.

Loan-to-Value: 65% 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

FUNDED
Harmony Tremezzo, LLC Loan #3393

This First Trust Deed is collateralized by one fully completed approximately 2,922 square foot single family model home in the Tremezzo subdivision which is located in the Lake Las Vegas Master Planned Community in Henderson, Nevada. The Lake Las Vegas MPC includes lake, hotel, restaurant, shopping, and golf amenities in addition to its residential subdivisions.

Construction of the model home, which is situated on an approximate 0.23 acre lot, was recently completed. The 3 bedroom, 3 bath model home with 2 car garage plus 1 car tandem garage includes options and higher-grade finishes (including upgraded countertops, cabinetry, flooring, landscaping, paint, etc.) to showcase available options to potential homebuyers.The model home will also serve as the sales office for the subdivision.

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: $244,000

Estimated Value: $380,000 as appraised by Real Estate Valuation Services, LLC (1/25/2011)

Loan-to-Value: 64%

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

FUNDED
Harmony Tremezzo, LLC Loan #3394

This First Trust Deed is collateralized by one fully completed approximately 3,758 square foot single family model home in the Tremezzo subdivision which is located in the Lake Las Vegas Master Planned Community in Henderson, Nevada. The Lake Las Vegas MPC includes lake, hotel, restaurant, shopping, and golf amenities in addition to its residential subdivisions.

Construction of the model home, which is situated on an approximate 0.19 acre lot, was recently completed. The 3 bedroom, 3 bath model home with 2 car garage plus 1 car tandem garage includes options and higher-grade finishes (including upgraded countertops, cabinetry, flooring, landscaping, paint, etc.) to showcase available options to potential homebuyers.

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: $297,000

Estimated Value: $470,000 as appraised by Real Estate Valuation Services, LLC (1/25/2011)

Loan-to-Value: 63%

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

FUNDED
SCP Garden Glen, LLC Loan #3391

This First Trust Deed is collateralized by approximately 8.52 acres of undeveloped residential land located just west of Interstate 15 in Sandy, Utah (approximately 15 miles south of Salt Lake City, Utah). The property has been tentatively mapped by the County for 45 residential lots which the borrower intends to develop as the Garden Glen residential subdivision. A portion of the loan proceeds will be used for land improvements to ready the property for vertical construction. The property includes one pre-existing, 1,842 square foot completed single family residence.

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

Loan Amount: $1,750,000

Estimated Value: An appraisal is on order for the property's "As-Is" and projected fully-developed land values and will be received by CM Capital Services prior to loan funding. The borrower purchased the property in December 2010 for $1,530,000. Approximately $600,000 of the loan amount will be deposited with a third-party project disbursement company (Project Disbursement Group) for borrower use in the horizontal development of the property.

Loan-to-Value: Loan amount not to exceed 57% of the projected fully-developed land value per the property appraisal.

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

FUNDED
Frisco 101 Main Street, LLC Loan #3389

This First Trust Deed is collateralized by five commercial condominium units located in Frisco, Colorado. The five commercial condominium units are part of a two-story building that includes eight commercial condominiums located on the first (main) floor with residential condominiums located on the second floor. The subject building shares an adjoining wall with a building of the same size and architectural style.

Frisco, Colorado is located off of Interstate 70 at the base of Colorado Highway 9, which leads to the Breckenridge and Keystone ski resorts (approximately 75 miles west of Denver, Colorado).

Patrick Koentges, Manager of Frisco 101 Main Street, LLC, has an extensive background that includes over 30 years of residential and commercial design, construction, and development experience in Colorado. Frisco 101 Main Street is a new borrower with CM Capital Services.

Loan Amount: $700,000

Estimated Value: $1,075,100 as appraised by Hemingway Appraisal (1/15/2011)

Loan-to-Value: 65%

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

Term: 12 Months with one optional 6-month extension period at maturity

FUNDED
Henry Walker Construction, LLC Loan #3387

This First Trust Deed is collateralized by an approximate 0.17 acre fully-developed residential lot located just west of Interstate 15 in Sandy, Utah (approximately 15 miles south of Salt Lake City, Utah.) Loan proceeds will be used for the vertical construction of an approximate 1,867 square foot, 3 bedroom, 2 bath Model home ("Stanford"). The Model home will include a Bonus Room as well as options and higher-grade finishes (including upgraded countertops, cabinetry, flooring, landscaping, paint, etc.) to showcase available options to potential homebuyers.

When completed, the subject property will serve as the Model home for the nearby Garden Glen subdivision.

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

Loan Amount: $160,000

Estimated Value: $285,000 upon completion of the home as appraised by CRE Appraisals (12/16/2010)

Loan-to-Value: 56%

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

FUNDED
Henry Walker Construction, LLC Loan #3386

This First Trust Deed is collateralized by an approximate 3,012 square foot, 4 bedroom, 3.5 bath Model home ("Copenhagen"). The Model home includes options and higher-grade finishes (including upgraded countertops, cabinetry, flooring, landscaping, paint, etc.) to showcase available options to potential hoomebuyers. The home is situated on an approximate 0.37 acre lot ("Lot 23") within the Grove subdivision which is located just west of Interstate 15 in Farmington, Utah (approximately 20 miles north of Salt Lake City, Utah). The 23-lot gated subdivision will feature homes ranging from 2,000 to 3,500 square feet in size.

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 Homes, LLC became a new borrower with CM Capital Services in early 2010 and currently has nine residential subdivisions in development in Utah.

Loan Amount: $375,000

Estimated Value: The estimated sales price for the completed home is $500,000. (An appraisal is on order and will be received by CM Capital Services prior to loan funding.)

Loan-to-Value: N/A (75% Loan-to-Value 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

FUNDED
Harmony Springs, LLC Loan #3383

This First Trust Deed is collateralized by one fully completed approximately 1,559 square foot single family Model home in the Parkside at Centennial Springs subdivision in northwest Las Vegas, Nevada. The subject subdivision is located near Highway 95 and the 215 Beltway and includes a large park and community center. The subdivision is also adjacent to The Village of Centennial Springs which includes shopping, dining, and professional amenities. Construction of the Model home, which is situated on an approximate 0.07 acre lot, was recently completed. The 3 bedroom, 2.5 bath Model home with 2 car garage includes options and higher-grade finishes (including upgraded countertops, cabinetry, flooring, landscaping, paint, etc.) to showcase available options to potential homebuyers.

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: $91,000

Estimated Value: $130,000 as appraised by Real Estate Valuation, LLC (11/26/2010)

Loan-to-Value: 70%

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

FUNDED
Henry Walker Construction South, LLC Loan #3380

This First Trust Deed is collateralized by an approximately 0.08 acre fully-developed residential lot ("Lot 143") located in the Entrada Escapes sibdivision which is situated just west of Snow Canyon Parkway in St. George, Utah (approximately 125 miles northeast of Las Vegas, Nevada and approximately 300 miles southwest of Salt Lake City, Utah). The Entrada Escapes subdivision is adjacent to the Entrada at Snow Canyon Country Club which includes golf, spa, fitness, and restaurant amenities.

Loan Proceeds will be used for the vertical construction of an approximately 1,301 square foot, 2 bedroom, 2 bath Model home ("Riviera"). 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.

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

Loan Amount: $188,000

Estimated Value: $290,000 upon completion of the home as appraised by Morley & McConkie (11/16/2010)

Loan-to-Value: 65% (based on completed home value)

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

FUNDED
Santanilla, LLC Loan #3378

This First Trust Deed is collateralized by three adjacent parcels totaling approximately 39.4 acres of undeveloped residential land. The subject property is located northwest of the intersection of South Higley Road and East Stacey Road across the street from Payne Junior High School in Queens Creek, Gilbert, Arizona (approximately 25 miles southeast of Tempe, Arizona). Zoning for the subject property is tentatively approved by the City for 50 residential lots.

Santanilla, LLC is a new borrower with CM Capital Services. Delyn Yeates, a Principal of Santanilla, LLC, has developed a number of hospitality and residential projects in Utah and Arizona over the past 27 years as an independent investment developer. Jared Yeates, also a Principal of Santanilla, LLC, has 17 years of experience as a real estate developer and 12 years of experience in residential mortgage lending.

Loan Amount: $800,000

Estimated Value: $1,380,000 as appraised by Dean Appraisal Group, LLC (11/3/2010)

Loan-to-Value: 58% (based on current tentative zoning approval for 50 residential lots)

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

FUNDED
Henry Walker Construction, LLC Loan #3379

This First Trust Deed is collateralized by an approximate 0.06 acre fully-developed residential lot ("Lot 950") located in the Bridlewalk subdivision which is situated just west of Interstate 15 in Kaysville, Utah (approximately 25 miles north of Salt Lake City, Utah). Loan proceeds will be used for the vertical construction of an approximate 1,793 square foot, 3 bedroom, 2 bath home (model is called "Solitude.")

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. See attached floor plan for more details.

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

Loan Amount: $158,000

Estimated Value: The estimated sales price for the completed home is $243,630. An appraisal is on order and will be received prior to loan funding.

Loan-to-Value: 65% (based on 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

FUNDED
Henry Walker Construction South, LLC Loan #3372

This First Trust Deed is collateralized by an approximate 0.08 acre fully-developed residential lot ("Lot 131") located in the Entrada Escapes subdivision which is situated just west of Snow Canyon Parkway in St. George, Utah (approximately 125 miles northeast of Las Vegas, Nevada and approximately 300 miles southwest of Salt Lake City, Utah). The Entrada Escapes subdivision is adjacent to the Entrada at Snow Canyon Country Club which includes golf, spa, fitness, and restaurant amenities.

Loan proceeds will be used for the vertical construction of an approximate 2,114 square foot, 4 bedroom, 4.5 bath model home with a casita ("Oakmont"). The model home will include options and higher-grade finishes (including upgraded countertops, cabinetry, flooring, landscpaing, paint, etc.) to showcase available options to potential homebuyers.

Loan Amount: $228,000

Estimated Value: $355,000 upon completion of the home as appraised by Morley & McConkie (10/13/2010).

Loan-to-Value: 64% (based on completed home value).

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

FUNDED
Henry Walker Construction, LLC Loan #3371

This First Trust Deed is collateralized by an approximate 0.06 acre fully-developed residential lot ("Lot 947") located in the Bridlewalk subdivision which is situated just west of Interstate 15 in Kaysville, Utah (approximately 25 miles north of Salt Lake City, Utah). Loan proceeds will be used for the vertical construction of a presold approximate 1,425 square foot, 2 bedroom, 2 bathroom home ("Yale").

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 this figure.

Loan Amount: $169,500

Estimated Value: N/A The current contracted sales price for the completed home is $242,090. An appraisal is on order and will be received by CMCS prior to loan funding.

Loan-to-Value: N/A 70% Loan-to-Value based on the estimated 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

FUNDED
Harmony California Properties, LLC Loan #3361

This First Trust Deed is collateralized by eight finished single-family residential lots situated in the Belle Cliff subdivision within the Pacifica San Juan Master Planned Community in San Juan Capistrano, California. The subject lots are approximately 0.13 acres (6,000 square feet) in size with adjacent completed luxury homes in the subdivision ranging from 2,900 to 3,600 squre feet. Some homes within the subdivision boast ocean views as the subdivison is in close proximity to Capistrano Beach, Dana Point Harbor, and the Pacific Coast Highway (Hwy 1).

Loan Amount: $2,019,000

Estimated Value: N/A Loan Amount is based on 65% of the $3,106,667 acquisition price for the eight lots ($388,333.33 per lot).

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

FUNDED
Henry Walker Construction, LLC Loan #3369

This First Trust Deed is collateralized by an approximate 0.46 acre fully-developed residential lot ("Lot 17") located in the Havenwood subdivison which is situated just west of Interstate 15 in Kaysville, Utah (approximately 25 miles north of Salt Lake City, Utah). Loan proceeds will be used for the vertical construction of a presold approximately 1,773 square foot, 3 bedroom, 2.5 bath home ("Cornell").

Loan Amount: $188,500

Estimated Value: N/A (The current contracted sales price for the completed home is $269,040. An appraisal is on order and will be received by CMCS prior to loan funding.)

Loan-to-Value: N/A (70% LTV based on 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

FUNDED
CM Procyon 1-614, LLC Loan #3365

This First Trust Deed is collateralized by an approximate 2.34 acre parcel currently zoned for M-1 (Light Manufacturing) development with CT (Commercial Tourist) planned land use. The property has frontage on Procyon Street and is located near the southeast corner of Procyon Street and Spring Mountain Road just west of Interstate 15 in Las Vegas, Nevada.

Situated on the property is an approximate 28,330 square foot single-story industrial warehouse facility that was built in 1963 and includes both office and warehouse space. The building is in need of repair. The subject property also includes an approximate 3,670 square foot loading dock and an approximate 0.27 acre paved parking lot. Portions of the warehouse and office space are currently leased to three separate tenants yielding approximately $5,500 in cumulative monthly rental income.

Loan Amount: $363,000

Estimated Value: N/A The property recently yielded a preliminary purchase offer of $1,450,000 ($619,458 per acre).

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

Term: 12 Months with no optional extension period at maturity

FUNDED
Henry Walker Construction, LLC Loan #3363

This First Trust Deed is collateralized by an approximately 0.32 acre fully-developed residential lot located in the Lauren Gardens subdivision which is situated just east of Interstate 15 in Sandy, Utah (approximately 15 miles south of Salt Lake CIty, Utah). Loan proceeds will be used for the vertical construction of an approximately 2,045 square foot, 3 bedroom, 2.5 bath home ("Prague").

Loan Amount: $200,000

Estimated Value: $400,000 as appraised by Action Appraisal Associates (9/16/2010)

Loan-To-Value: 50%

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

FUNDED
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.

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

Term: 12 Months with no optional extension periods at maturity

FUNDED
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

FUNDED
Henry Walker Construction, LLC #3340

This First Trust Deed is collateralized by a 0.10 acre fully-developed residential lot (Lot 116) located in The Cottages subdivision in South Jordan, Utah. Loan proceeds will be used for the vertical construction of an approximate 1,618 square foot pre-sold home on the lot. The Cottages' subdivision is within walking distance from "The District" a shopping center that includes major retail and dining amenities, as well as a movie theater. South Jordan is a suburb of Salt Lake County that is located approximately 15 miles from Salt Lake City, Utah

Loan Amount: $157,500

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

FUNDED
Laughlin Land, LLC #3338

This First Trust Deed is collateralized by approximately 640 acres of undeveloped (raw) land located in Bullhead City, Arizona (less than five miles south of Laughlin, Nevada). The subject property is located within the Laughlin Ranch Master Planned Community which includes residential subdivisions, golf amenities, etc. The Laughlin Ranch Master Planned Community filed for bankruptcy protection in 2007; however, the Laughlin Ranch Golf Club remains open and approximately 300 homes have been built in the community to-date.

Loan Amount: $640,000

Estimated Value: $9,600,000 ($15,000 per acre) as appraised by Dean Appraisal Group, LLC (7/4/2010)

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

Term: 12 Months with no optional extension periods at maturity

FUNDED
Harmony Springs, LLC #3319

This First Trust Deed is collateralized by four partially developed single-family residential lots within the 210 lot Harmony Springs subdivison in Northwest Las Vegas, Nevada. The subdivison includes approximately 25 completed homes, including model homes for the current residential construction project, common area landscaping, and a community park. The subdivison is located at Farm Road and Tule Springs Road near US 95 and Durango Drive.

Loan Amount: $75,000

Yield (principal value > $100,000): 12.00%
Yield (principal value < $100,000): 11.75%

Term: 12 Months (plus one optional 12-month extension period at maturity)

FUNDED
Payson Properties, LLC #3303

This First Trust Deed is collateralized by a 61.12 acre assemblage of 11 land parcels located in Elkridge, Utah (just north of Payson, Utah and approximately 15 miles south of Provo, Utah). The subject includes an 8,939 s/f 5 bedroom, 5.5 bath custom home, a 35,160 s/f 18-stall indoor horse stable and arena, and an 1,120 s/f rental home. The indoor stable, riding arena, and rental home provide income to the property.

Payson Properties, LLC is a new borrower to CMCS.

Loan Amount: $1,960,000

Estimated Value: The loan amount is based on 49% of the current appraised value of the property (including all structures), which was valued at $3,960,000, as appraised by Free and Associates, Inc. on 2/10/2010.

Yield (principal value > $100,000): 11.75%
Yield (principal value < $100,000): 11.50%

Term: 18 Months (plus one optional 6-month extension period at maturity)