Columbia Capital Consulting Group provides financial institutions and investors with real estate consulting services. They assist with non-performing loans, under-performing assets, and new opportunities. Their services include asset assessment, developing recovery strategies, and implementing recommended solutions. They have experience across various asset classes and provide services like due diligence, valuations, and transaction management.

1. Prepared For: Date: September 29, 2010Presented By: Bud Moscony

2. Columbia Capital Consulting Group assists financial institutions, investors and advisors achieve their real estate objectives with respect to non-performing or under-performing loans and assets as well as new loan and investment opportunities.Columbia Capital provides independent, client-focused consulting services through a proprietary methodology that includes:Assessment and documentation of asset status. Development of strategic resolution and recovery options.Implementation of recommended recovery and transaction strategies.Evaluation and management of portfolio level risk.Columbia Capital’s professional capabilities include experience in: Wide range of asset classes including land, residential and commercial development; and multifamily, affordable housing, office, retail, industrial, hospitality and condominium properties. Due diligence, market research, financial modeling and analysis, valuations, property and asset management, and construction completion services. Disposition, recapitalization, and transaction management and execution. Banking, risk management, capital adequacy analysis, and strategic planning. Columbia capital overview2

3. PRODUCTS & ServicesLEVEL 1LEVEL 2HYBRIDAsset Assessment Report:Due Diligence

4. Asset Status Review

5. Critical Action Items

6. Loan Collateral Review

7. Market Overview

8. Title ReviewStrategy & Recommendation Report:Review of Resolution and Recovery Alternatives

9. Market Perception of Value

10. Collateral vs. Loan Review

11. Hold, Workout or Position for SaleHybrid Report:Integrated Report with Level 1 and 2 Components

12. Supports REO Disposition and Asset AcquisitionCustomized Solutions:Reports Tailored to Client Scope, Timing and BudgetIMPLEMENTATION SERVICESRISK ADVISORY SERVICESContract Administration Services:Asset Stabilization

13. Construction CompletionTransaction Coordination Services:Asset Recovery and ResolutionPortfolio Evaluation Services:Risk Management

14. Credit Management

15. Default Management

16. Corporate Governance3

17. Identify Current Status of Asset Under development/constructionEntitlementsAssessments and mitigation feesDevelopmentConstruction improvementsIncome-producing assetsOperational reviewLease reviewIncome versus mark-to-marketConduct Title ReviewDetermine Market PositioningDetermine current market inventory, assess supply and demandIdentify specific competitive factors impacting or enhancing valueProvide Complete and Reliable Due Diligence File Supporting Disposition and InvestmentIdentify Issues that Any Owner will Need to AddressLEVEL 1: Asset Assessment4

18. Level 2: strategy & recommendationAssess and Critically Evaluate Loan Resolution Options Forbearance agreementWorkout with borrowerReceivershipDeed-in-lieu of foreclosureForeclosureNote dispositionAssess and Critically Evaluate Asset Resolution OptionsFor financial institutions, assess limiting factorsConstruction completion, asset reposition and rehabilitationAsset dispositionTimingProvide Recommendation(s) to Support Decision Making Process For ClientPrepare analyses supporting recommendation(s)Evaluate of alternative courses of action5

19. Hybrid ReportsCost-effective service with abbreviated timeframeLevel 1 and Level 2 report componentsStreamline the assessment and strategic alternative processUseful for REO dispositions, and asset and portfolio acquisitions.Customized SolutionsResponsive to client scope, timing and budget objectivesTailored scope of services based on client requirementsHYBRID products6

20. Establish Final Client-Selected StrategyHold (including construction completion or reposition)SellContract Administration ServicesAsset stabilizationConstruction and project completionRepositionTransaction Coordination ServicesIdentification, selection and management of real estate brokerageCoordination of asset marketing plan and disposition activitiesIMPLEMENTATION services7

21. Scope of ServicesAsset StabilizationPreserve entitlements by extending active permits and applicationsCoordinate the conversion or release of bondsOrder final inspectionsEnsure compliance with local, state and federal regulationsCoordinate asset management, such as winterization, erosion control and site securityConstruction and Project CompletionComplete partially constructed projects and buildingsCoordinate architects, designers and engineers to complete design and permittingProvide representation with agencies and jurisdictions to obtain approvals and permitsManage general contractors and consultants needed to complete constructionCoordinate final inspections and project close-out proceduresRepositionAssist in development of value accretion construction initiativesManage general contractors and consultants needed to complete constructionCONTRACT ADMINISTRATION SERVICES8

22. TRANSACTION COORDINATION SERVICESScope of ServicesSelect Real Estate BrokerageNegotiate Brokerage Contract TermsAssist in the Development of Asset Marketing PlanMonitor Status of Asset Marketing Plan and Sales CampaignParticipate in Buyer Selection ProcessAddress Buyer Inquiries Through Due Diligence PeriodProvide Assistance to Client’s Attorney to Facilitate the Transaction Closing9

23. Portfolio Risk EvaluationRisk Management PlanEvaluate Data Management CapabilitiesEvaluate Decision CapabilitiesEvaluate Default Management CapabilitiesEnhance Corporate GovernanceProvide Consulting for Bank Financial ConsiderationsReal Estate Loans as a Percentage of Capital and Total Assets Criticized and Non-Performing Assets Tier 1 and Tier 2 Capital Adequacy Loan Loss Reserves Income Statement and Ability to Fund Loan Loss Reserves Bank’s Plan Beyond Distressed Asset Dispositions and Future ‘Right Sizing Plan’ CAMELS Risk advisory services10

24. Expertise to maximize Client recovery in full range of property types and financial structures Convenience of single-source, multidisciplinary advisory services providing efficiency, organization and process for ClientEstablished alliances with professionals in the industry Combined knowledge of banking, real estate finance, investment and brokerage, development and construction, and marketing to identify and evaluate recovery options Team of accessible experienced professionals with proven workflow systems Professionals conscious of critical nature of current market and timing Due diligence capabilities to support Client recovery strategies and to assist potential buyers in feasibility and planningClient collaboration to craft comprehensive road map to resolve non-performing or under-performing real estate loans and assets as well as facilitate new businessCOLUMBIA CAPITAL CAPABILITIES11

25. The Columbia differenceColumbia Capital provides comprehensive, single-source solutions for due diligence, valuation and resolution needs.Holistic versus directed approach Assess all data points before making a recommendation to the clientNo limiting factors or ‘point in time’ boundariesThorough, diligent researchAsk the right questions and obtain all the relevant dataWith loans, review both collateral and asset valuesDiverse team of real estate and capital market professionals analyze individual aspects of each loan/assetComplete due diligence packageResult of work is a reliable due diligence report/fileServes as a feasibility study for owners, sellers and buyers reducing potential for re-trading at closing tableClients receive practical and unbiased solutions without an agenda.Assessment of current market valueAs-is value including outstanding cost considerationsReal estate ‘principal’ approachAssessment of multiple exit strategies and recovery optionsRecommended option for existing market conditions and implications for selecting alternatives12

26. National CoverageSeattlePortlandNew YorkSan FranciscoPhiladelphiaChicagoDenverLas VegasSanta AnaDallasMiamiColumbia Capital Operating OfficesPlanned Field Offices13

27. Executive ManagementMichael SanderExecutive Vice PresidentHaving held executive Sales and Marketing positions in the high tech industry over the past 25 years, Michael is instrumental in the development and management of national accounts and the client relationship manager network. Among the positions previously held, notables include founding member and President of ROI Completion Partners and RTC Pacific LLC, principal owner of INDEWORKS entertainment, Executive Vice President for Cyberworks Software, and various sales management positions at Dell Computer Corp, MicroAge, and Entex Information Systems.Michael has extensive leadership and performance-based financial experience, and delivers expertise in the implementation of strategic, operational, and financial planning and controls for organizations. Across many disciplines, Michael empowers his clients to become a more profitable and agile part of their respective markets.Harry MizrahiExecutive Vice President - OperationsWith a 25-year career in investment banking and corporate and structured finance, Harry is integral in the development and management of Columbia Capital’s operations and national expansion. He has advised financial institutions, corporate clients and federal and state government agencies on real estate loans, assets and portfolios through positions as Managing Director, Structured Real Estate, at Ambac Assurance Corp., Principal at Eastbridge Ventures, Chief Operating Officer at American Spectrum Realty, Director at Solomon Brothers’ and Solomon Smith Barney’s Real Estate Investment Banking Groups, and Partner at Eastdil Realty. His experience also encompasses international finance, including the acquisition bid for Canary Wharf Group plc, a £6 billion property company. Ron CathcartChief Executive OfficerRon’s wealth of experience in the financial services industry makes him the ideal leader for Columbia Capital. Having held numerous executive leadership positions in both domestic and international financial institutions, he was most recently the Chief Enterprise Risk Officer for Washington Mutual, the largest thrift in the US with $300B in assets, a 2200 branch network and nationwide lending/administrative offices engaged in consumer and commercial banking services, credit cards, commercial real estate financing, and home loans. Ron had oversight responsibility for of all aspects of credit, market and operational risk as well as compliance, regulatory and internal audit. His invaluable risk management capabilities and thorough understanding of the regulatory framework which guides financial institutions uniquely position him to provide Risk Advisory Analysis (RAA) services to our clients. This unique portfolio analysis service delivers significant value from a loss mitigation perspective, and provides practical working solutions to executive officers. 14

28. Executive ManagementDustin AllenBoard DirectorAs the architect of the due diligence reporting service, and the previous President and CEO of Westgate Business Services, Dustin (Dusty) has developed the proprietary processes and procedures to navigate clients through even the most difficult real estate transactions. His broad range of experience in the commercial and residential real estate industries was acquired while developing and managing a capital services company with construction and acquisition loan placements in excess of $160 million. Prior to this Dusty managed a $100 million real estate development fund.Dusty’s experience enables him to manage even the most complex situations with poise and practicality, and plays a pivot role in the day-to-day management the organization.William RichExecutive Vice President - Finance and AdministrationWilliam (Bill) brings a strong financial management and strategic planning background to Columbia Capital. Bill is a CPA by profession with additional credentials in business valuation (ABV - Accredited in Business Valuation; and CVA - Certified Valuation Analyst) and management accounting (CMA – Certified Managerial Accountant. Bill has an MBA with a concentration in Management and Finance. He has several years of experience much of it involved in the turnaround and disposition of struggling divisions and subsidiaries of large publicly held companies such as Allegheny International, Henry Schein, Inc., and as the CFO of SMC Corporation. During the past nine years, Bill has built his own successful turnaround consultancy and developed long standing relationships with the special assets and workout groups of several regional and national banks. Bill also has advised business owners on Exit Strategies and methods to enhance business value. Bill’s experience and relationships are very well suited to the clients and services offered by Columbia Capital. 15

29. Columbia capital contactsRonald CathcartChief Executive Officer(425) 367-6217rcathcart@columbiaccg.com Harry MizrahiExecutive Vice President - Operations(212) 362-1993 hmizrahi@columbiaccg.com Michael Sander Executive Vice President(503) 805-5524 msander@columbiaccg.com Bud MosconyDirector (215) 771-6495 bmoscony@columbiaccg.com Melanie ClarkDirector of Production(425) 367-6216mclark@columbiaccg.com Jordan SchenkDirector of Marketing and Technology(425) 367-6215jschenk@columbiaccg.com www.columbiaccg.comTHIS PRESENTATION CONTAINS CONFIDENTIAL AND PROPRIETARY INFORMATION OF COLUMBIA CAPITAL CONSULTING GROUP, INC. (THE "COMPANY"). ANY RECIPIENT OF THIS PRESENTATION AGREES TO KEEP ITS CONTENTS STRICTLY CONFIDENTIAL AND AGREES TO USE THE CONTENTS FOR THE SOLE PURPOSE OF EVALUATING A BUSINESS TRANSACTION WITH THE COMPANY (THE "PURPOSE"). SUCH RECIPIENT AGREES NOT DISCLOSE THIS PRESENTATION EXCEPT TO OTHER MEMBERS OF ITS ORGANIZATION WHO (1) HAVE A NEED TO KNOW THE CONTENTS HEREOF FOR THE PURPOSE AND (2) AGREE TO KEEP THIS PRESENTATION CONFIDENTIAL ON THESE TERMS.16