| The loan was transferred on 07/24/08 as imminent default as a result of borrower\'s request to use a portion of the reserves towards debt service shortfalls while the borrower reorganized the tenant base. Borrower's request for a restructure was approved subject to the satisfaction of certain conditions including the pledge of a $100,000 LOC, however, Borrower's principals concluded they could not afford to move forward with the forbearance. When the Borrower failed to make the 09/01/08 payment, formal demand was made and the offer to restructure was rescinded. The Trust was the successful bidder at the foreclosure on 03/18/09. River Rock Real Estate Group is currently managing the REO Property. Cornish and Carey is currently marketing the REO property for sale. The advance to value ratio is approximately 4.53%.
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