| PRICING and DEBT SERVICE COVERAGE GUIDELINES | |||||
| One-Year Libor: | 1.7738% | Effective Date: | 04/27/04 | ||
| PROPERTY TYPE | |||||
| Spread Over | Debt Service Coverage | ||||
| Libor | With Recourse | Without Recourse | |||
| 250 | 300 | MultiFamily | 115% | 125% | |
| 275 | 325 | Office | 130% | 140% | |
| 250 | 300 | Office (Credit) | 120% | 125% | |
| 325 | 350 | Retail | 140% | 150% | |
| 275 | 325 | Retail (Credit) | 125% | 130% | |
| 300 | 350 | Industrial | 135% | 145% | |
| 300 | 350 | Mini-Storage | 150% | 160% | |
| 325 | 350 | Hotel/Motel | 150% | 160% | |
| 325 | 350 | Resort Properties | 155% | 165% | |
| 325 | 350 | Senior Housing | 160% | 170% | |
| " | " | Nursing Homes | " | " | |
| " | " | Long-Term Care Facilities | " | " | |
| 375 | 400 | Raw Ground or | |||
| Land Loans up to 65% of LTV | |||||
| (Requires Recourse) | |||||
| 350 | 375 | Land Development Loans | |||
| 225 | 275 | Farm Loans | |||
| 300 | 350 | Church Loans | |||
| 325 | 350 | Performing Note Purchases | |||
| 350 | 375 | OREO Purchases | |||
| 350 | 375 | Non-Performing Note Purchases | |||
| NOTE: These Guidelines are subject to change at any time without Notice | |||||