Debt Instrument: Promissory Note - Recorded

$90,000 Note secured by First Deed of Trust. Due 9/10/2017. Interest only 6% p.a., quarterly payments $1,350. No prepayment penalty. Borrower current.

Collateral Information

• Name:Residential lot
• Description:1/4-acre vacant lot on Sunridge Canyon golf course. Approved for construction of a 3,200-SF single level home.

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• Location:AZ
• Zip Code:85268
• Assessed Value:$220,000.00
• Lien/Encumbrance:$0.00
• Lien Description:
• Contingencies:$0.00
• Form of SecurityFirst Deed of Trust
• Personal Guarantee by OwnerNo
• Borrower in DefaultNo
• Other InformationDeed insured by Grand Canyon Title Agency, Inc.
• Owner considers debt transfer to a qualified New BorrowerYes
• Borrower would agree to trade his equity in the underlying asset and be releived of his debtNo
• Declared Asset Equity$87,500.00
• Portion Required in Cash:$50,000.00
• Exchangeable Equity:$37,500.00
• Appraisal Available No

Preferred Exchange