Harmony Homes

First Trust Deed collateralized by nearly 15.19 acres of land near the corner of Ann and Losee in North Las Vegas, NV (roughly 10 miles north of downtown Las Vegas). The land was zoned C-1 for Neighborhood Commercial which would allow for the development of your typical strip malls and drive through restaurants. The borrower has been working with local officials since putting the property under contract in December of 2021 to get the property rezoned for residential. The borrower believes that the zoning change will occur in the next few months. Once the zoning change occurs, they will work with local officials to get a tentative map approved for the development and ultimately construction of a 196-lot community as shown on the next page. The borrower has developed and sold over 500 homes near the corner of Ann and Losee since 2009 and are very familiar with what it takes to get the zoning completed, site plan approved, the land developed, and the finished homes closed. Master Loan Amount: $9,114,000 Yield: 10% interest is paid monthly in arrears with payments due on the 1st of each month with a 10- day grace period. Term: Nine months with an optional

First Trust Deed collateralized by nearly 9 acres of residentially zoned land near the corner of Lake Mead Pkwy and Warm Springs Road in Henderson, NV (roughly 17 miles southeast of downtown Las Vegas). The land is currently zoned PC (Planned Community) which will allow for the development of 18 homes on the site, but the borrower is working with the city to approve a 94-lot community. Although this zoning has been informally approved, it will not become official until the recording (a few more weeks). Additionally, a tentative map has been approved to allow for the construction of the 94 attached townhome units. This is the second community in this area the borrower has done with the exact same floor plans. In about nine months, the borrower will begin the development work on the land which is expected to cost nearly $4,500,000. The first home will not be made available for approximately one year. With plans ranging from 1121 - 1711 square feet and price points of under $250,000, these townhomes will help fill the demand for the entry level buyer. Master Loan Amount: $2,444,000 Tranche Loan Amount: $611,000 Yield: 10.00% (Principal Balance < $100,000) Interest is paid monthly