Note #:	5678
Purpose:	Originated to refinance office warehouse with prior note 9770.
Collateral Analysis:	We are secured by a 1st DOT on 4321 E Small Town in Springfield. Our first lien position is supported by the final title policy in file. Both the Title work and DOT are limited to $765M. The property was recently appraised by John Smith on 7/5/11 for $1.6MM. The appraiser only used the sales comparison approach. Three comparables were used and determined an average value of $30/sf and the subject property is 53,099 sf.

What is the interest rate for CLSN #5678?

Does CLSN #5678 have an interest rate floor? If so, what is the floor?

Real Estate 4321 E Small Town Sp Total Valuation Less: Current Loans Empire 5678 1stDOT SBA 2nd DOT Empire 6789 3rd DOT Total Loans Surplus (Shortage) Loan to Value Value 1,600 $1,600 Policy Value S5% Loan Value 1,360 $1,360 582 455 37 $1,074 S286 67%