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Shadow Canyon Development, LLC., #4486 – NEVADA

First Trust Deed collateralized by a 72.25 acres of residential land located in Henderson, Nevada. Since putting the property under contract about 11 months ago, the borrower has been working with the city to get a tentative map approval for the 122-lot community. In addition, they have a letter of intent to purchase the finished lots from a national homebuilder for over $32,000,000. Once the property is purchased, it is the borrower’s intent to finalize the mapping process wit the city and to begin grading of the project. Starting three months after acquiring the site, the borrower anticipates starting the site work to transform the raw land into finished lots. Nearly all the 122 lots will have unobstructed views of the Las Vegas strip.

Loan Amount: $3,900,000

Yield: 11.00% (Principal Balance < $100,000); 11.25% (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 an optional six-month extension at maturity.

Tailor Built Homes, LLC., #4485 – UTAH

First Trust Deed collateralized by a fully developed residential lot (0.33 acres in size) located in South Jordan, Utah (approximately 17 miles north of Downtown Salt Lake City, UT). Loan proceeds will be used for the construction of a four-bedroom, three and a half bath home. The homes will be a total of 4,821 square feet with 3,100 square feet of finished space (does not include the unfinished basement). Right now, the property is a four-unit structure that was built in 1962 consisting of 3,700 feet.

Loan Amount: $650,000

Yield: 10.00% (Principal Balance < $100,000); 10.25% (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 an optional six-month extension at maturity.

Tailor Built Homes, LLC., #4484 – UTAH

First Trust Deed collateralized by a fully developed residential pad located in Millcreek, UT (approximately 10 miles south of downtown Salt Lake City, Utah). Loan proceeds will be used for the construction of one townhome building consisting of two townhomes. Each townhome will be approximately 1,100 square-feet, two-bedroom, two-bath homes.

Loan Amount: $900,000

Yield: 10.00% (Principal Balance < $100,000); 10.25% (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 an optional six-month extension at maturity.

Lokal BR7 LLC, #4441 – COLORADO

The collateral for this loan consists of 140 partially finished single-family residential lots located in Commerce City, CO (approximately 20 miles northeast of Denver, CO and 12 miles west of Denver International Airport). These 140 lots are part of a larger 151 lot community know as Buffalo Run Filing 7. Homes will be priced around $430,000 and will solely consist of single story ranch style homes. Filing 7 is the last take down within a larger community know as Buffalo Run that the borrower has already completed the development, construction, and ultimate sale of over 300 homes. The borrower has already begun construction on 11 homes within this last phase of the community. It is anticipated the borrower will completely sell out of the community within three years.

Loan Amount: $10,920,000

Yield: 10.25% (Principal Balance ≥ $100,000); 10% (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: 12 months with an optional 12 month extension at maturity.

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