$50,000 1st TD eight month note; Payments started August 30, 2007, interest only $520.83/mo. @ 12.5% interest. Note runs through August 30, 2008, discussions have already been made to extend the note and raise the interest rate to assist the borrower. Property is a commercial warehouse metal building located in Arnold, has four rental units in the building and encompasses approximately .5 ac. Estimated value is $235,000. Loan to value ratio 21%.
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