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Dragon Ridge Development, LLC, #4551 – NEVADA

First Trust Deed collateralized by a fully developed 1.1-acre lot in the MacDonald Highlands Community which is approximately 19 miles south of downtown Las Vegas, Nevada.  The MacDonald Highlands Community is nestled in the picturesque McCullough Mountains which has become one of the most sought after addresses in the Las Vegas Valley. Finished lots on this street are currently selling for more that $2,000,000 for just the lot. Although no homes have sold on this 51-lot street yet, some homes are anticipated to be sold for more than 10 million. This loan is to acquire the lot and build a roughly 8,000 square foot home. Now that building permits have been fully approved by the HOA as well as the city, the borrower is able to begin construction immediately. It is anticipated the home will be completed and sold within the duration of this loan. Loan Amount: $3,500,000 Yield: 10.25% (Principal Balance ≥ $100,000); 10.00% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 9 months with one optional nine-month extension period at maturity. Loan Amount: $3,500,000

Bluemountain I, LLC., #4550 – UTAH

First Trust Deed collateralized by a fully developed four-plex apartment complex in Tooele, Utah (approximately 34 miles southwest of Salt Lake City, UT). None of the four units in the apartment complex have been updated by the borrower at this time although it is expected to commence when the last lease expires in November of this year. Once the tenants have moved out, the borrower will compete renovations and release the site. It is anticipated to take three months for renovations and releasing at which point they expect to have increased rents from a total of $3,600 monthly to $4,400 monthly. Once the rehab is completed, it is the borrower’s intent to sell the building to an investor who will keep it as a cash flowing asset. Loan Amount: $299,000 Yield: 10.25% (Principal Balance ≥ $100,000); 10.00% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Six months with a six-month extension.

BlueM Utah, LLC., #4549 – UTAH

First Trust Deed collateralized by a fully developed duplex in Salt Lake City, Utah (approximately 2 miles southeast of downtown Salt Lake City, UT). Both units are now vacant since the owner acquired the property and are about 80% completed with the demo in anticipation of beginning the rehab next month. The final renovations are expected to be completed in 60 days at which point the borrower will lease the property. The borrower has not yet determined if he will be selling this building or keeping it for his long-term holding portfolio. Loan Amount: $375,000 Yield: 10.25% (Principal Balance ≥ $100,000); 10.00% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Six months with a six-month extension.

Harmony Homes Nevada, LLC., #4547 – NEVADA

First Trust Deed collateralized by 139 finished and partially finished residential lots located near the Southeast corner of North Pecos Road and East Lake Mead Boulevard in North Las Vegas, NV. The lots are part of a larger 222 lot community known as Brookfield that the borrower acquired about a year ago. Since acquiring the site, the borrower has sold 83 since the model home opened in December of 2017. Homes average about $200,000 and range from 1,106 square feet to 1,597 square feet. At the current sales velocity, the borrower expects to be completely sold out of the community in about a year. Loan Amount: $4,485,000 Yield: 10.25% (Principal Balance ≥ $100,000); 10.00% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 9 months with one optional 9-month extension period at maturity.

Court Hampton Holdings, LLC., #4546 – NEVADA

First Trust Deed collateralized by 29 mostly developed residential lots located in the Highlands community which is located ten miles east of Las Vegas, NV. Harmony Homes have sold out of the community directly to the west which they have been selling since 2010. The newly closed subdivision to the west had over 300 lots which were sold with an average sales price of $275,000 over the past year. This new community known as the Highlands consists of 94 lots which are roughly the same size as the previous community. The borrower intends to build the exact same homes that have sold in the previous community that range from 1,739 – 2,573 square feet and will start with an average sales price of $280,000. Loan Amount: $671,000 Yield: 10.25% (Principal Balance ≥ $100,000); 10.00% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 6 months with one optional 6-month extension period at maturity.

Court Hampton Holdings, LLC., #4545 – NEVADA

First Trust Deed collateralized by 13 mostly developed residential lots located in the Highlands community which is located ten miles east of Las Vegas, NV. Harmony Homes have sold out of the community directly to the west which they have been selling since 2010. The newly closed subdivision to the west had over 300 lots which were sold with an average sales price of $275,000 over the past year. This new community known as the Highlands consists of 94 lots which are roughly the same size as the previous community. The borrower intends to build the exact same homes that have sold in the previous community that range from 1,739 – 2,573 square feet and will start with an average sales price of $280,000. Loan Amount: $650,000 Yield: 10.25% (Principal Balance ≥ $100,000); 10.00% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 6 months with one optional 6-month extension period at maturity.

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