First Trust Deed collateralized by what was once 0.77 acres of land situated east of Interstate 15 in Millcreek, UT (approximately 10 miles south of downtown Salt Lake City, Utah). Since acquiring the property over a year ago, the borrower demolished the existing home, completed the horizontal development of the property, and has built two of the three townhome buildings. This loan will encumber the remaining two lots which is one of the three townhome buildings.

Loan Amount: $250,000

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.