| Partnership Formed: |
Monticello Mortgage, LP (3510909) 10/17/00 |
| Loan Status: |
Delinquent; due for October 1, 2001 |
| Borrower / Developer: |
The Estates at Willow Creek, L.L.C./Mennella and Walker |
| Develop / Project Stage: |
Property development progressing and lots being sold. |
| Project Name: |
Estates at Willow Creek-Equity loan |
| Property Address: |
Unknown |
| Guarantor: |
Opal A. Mennella and Hollis W. Walker |
| Loan Funding Term: |
36 months; due 11/1/2003 |
| Original Loan Amount: |
$1,600,000.00 15% (November 2, 2000) |
| Principal Balance: |
$962,430.16 (1/24/02) |
| Stage Funding Due: |
$637,569.84 |
| Title of Property: |
The Estates at Willow Creek, L.L.C. |
| Lien: |
First lien Woodforest National Bank; holds first lien on the land plus perfected lien and assignment of rents; second lien $440,000.00 note and deed of trust issued by Willow Creek to original seller, 78.5, Ltd. |
| Advances by Premiere: |
Unknown |
| Exit Strategy: |
Unknown |
| General Partner: |
Roosevelt Advisors GP, LLC |
| Loan Maintenance by: |
Roosevelt Advisors GP, LLC |
| Opinion: |
Robert Crain, November 2, 2000 |
| Description of Prop: |
78.2969 acres development- 240 lot manufactured home subdivision development |
