FROM:

INVOICE
David M. Deska
INVOICE NUMBER
DM Valuation, Inc. 10-7858
15195 Farmington Rd, Suite A-6 DATE
Livonia, MI 48154 12/1/2010
Telephone Number: (734) 524-6100 Fax Number: (734) 524-6100
REFERENCE
TO: Internal Order #: 10-7858
Lender Case #:
Bay Area Equity Group, LLC.
Client File #:
1901 South Bascom Ave, Suite 1325
Main File # on form: 10-7858
Campbell, CA 95008
Other File # on form:

Telephone Number: Fax Number: Federal Tax ID: 38-3337887

Alternate Number: E-Mail: Employer ID:

By excepting and/or using this appraisal you agree to pay the amount due (total below) within the next 30 days.
If there appears to be an error in the billing, please contact this office, by mail, within 10 business days to make a correction.

DESCRIPTION
Lender: Bay Area Equity Group, LLC. Client: Bay Area Equity Group, LLC.
Purchaser/Borrower: N/A
Property Address: 19751 San Juan Dr
City: Detroit
County: Wayne State: MI Zip: 48221-1703
Legal Description: See Attached Addendum

FEES AMOUNT
Desktop 85.00

SUBTOTAL 85.00

PAYMENTS AMOUNT
Check #: Date: 12/1/2010 Description: Credit Card 85.00
Check #: Date: Description:
Check #: Date: Description:

SUBTOTAL 85.00

TOTAL DUE $ 0

Form NIV5 — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

DM Valuation, Inc.
 Main File No. 10-7858 Page #1

Bay Area Equity Group, LLC.

1901 South Bascom Ave, Suite 1325
Campbell, CA 95008

Re: Property: 19751 San Juan Dr

Detroit, MI 48221-1703
Borrower: N/A
File No.:

In accordance with your request, we have appraised the above referenced property. The report of that appraisal is
attached.

The purpose of this appraisal is to estimate the market value of the property described in this appraisal report, as
improved, in unencumbered fee simple title of ownership.

This report is based on a desk analysis of the site and improvements, a locational analysis of the neighborhood and city,
and an economic analysis of the market for properties such as the subject. The appraisal was developed and the report
was prepared in accordance with the Uniform Standards of Professional Appraisal Practice.

The value conclusions reported are as of the effective date stated in the body of the report and contingent upon the
certification and limiting conditions attached.

It has been a pleasure to assist you. Please do not hesitate to contact me or any of my staff if we can be of additional
service to you.

Sincerely,

David M. Deska
 Main File No. 10-7858 Page #2

Borrower/Client N/A File No. 10-7858

Property Address 19751 San Juan Dr
City Detroit County Wayne State MI Zip Code 48221-1703
Lender Bay Area Equity Group, LLC.

TABLE OF CONTENTS

Letter of Transmittal .........................................................................................................................................................................................................................................................

1
Table of Contents .............................................................................................................................................................................................................................................................
2
Desk Property Evaluation ..................................................................................................................................................................................................................................................
3
Supplemental Addendum ..................................................................................................................................................................................................................................................
4
Limiting Conditions ..........................................................................................................................................................................................................................................................
5
Location Map ....................................................................................................................................................................................................................................................................
7

Form TOCNP — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

 Main File No. 10-7858 Page #3

MREC Desk Property Evaluation Appraiser File: 10-7858 MREC Ref: N/A
May not be released to applicant/borrower. Subject Photo attached: Yes No
Limited Restricted Report. Restricted to Client's Use Only. Value estimate from data records only. No driveby or inspections unless otherwise sta
Intended Purpose: Portfolio Evaluation Junior Lien/HELOC QC/Audit Other: Portfolio Evaluation
Required turnaround: 8 hours from receipt to be fax'd or EDI return. Call 1-800-227-1601 if delayed.
Client: Bay Area Equity Group, LLC. Loan Number: N/A Loan Officer: N/A
Subject Address: 19751 San Juan Dr
City: Detroit State: MI Zip: 48221-1703 County: Wayne
Owner/Applicant: N/A Legal: See Attached Addendum

Highest Use: As improved Interest: Fee simple. Do not use this form for other interests.

Subject data sources: Lender Tax Record Appraiser Files Other: PRD/MLS/Client
Neighborhood Values: Up Stable Down

TYPICAL PRICE RANGE: $ 5,000 to $ 75,000 GLA: 700 sf to 3,000 sf

SUBJECT PROPERTY TYPE: Tract SFR Custom Condo Townhome Multifamily
CHARACTERISTICS* Style: ( Bungalow ) Inground Pool: Yes No Garage: ( None )
* Per Client see 5 below. Last updated: N/A Other: N/A
Comparables to be the nearest and most appropriate. If 2 comps outside subject neighborhood provide value, but rate as a 4 and explain below.
Subject Comp 1 Comp 2 Comp 3
Address: 19751 San Juan Dr 20404 Lichfield 18313 Griggs 18300 Stoepel
Source/# PRD/MLS# 29113456 PRD/MLS# 29152580 PRD/MLS# 210004692 PRD/MLS# 29141382
Proximity/Ngbhd: Urban/Avg 0.86 miles NE / Avg 1.20 miles SW / Avg 0.86 miles SE / Avg
Sale Date: N/A CL: 10/08/2010 CL: 01/25/2010 CL: 02/05/2010
Beds/Baths: 3 /2 2 /1 3 /1 3 / 1
GLA: 1,124 1,200 1,200 1,100
Age: 68 Years 85 Years 68 Years 71 Years
Sale Price: 60,000 42,000 23,000
Overall adjst.Ind. Value -25 % $ 45,000 -5 % $ 39,900 5 % $ 24,150
*Overall adjustment to reflect all major characteristics which collectively exceed more than a gross 5% difference on value.
If data on condition, GLA or room count is not available put N/Av or estimate using experience and suffix with "Est". Any comparables from a Different
Neighborhood must be identified by "DN" after the Proximity entry and an explanation provided below. The appraiser defines whether the neighborhood is
different. Proximity to be in miles.

Probable Value Range: $ 15,000 $ 60,000

Most Probable Value: $ 40,000 As of: 12/01/2010

Most probable value is the Valuer's opinion of the probable price the property could sell for in the open market having regard only to the subject data provided
or available on public record and the subject property data by reference to most applicable date of sale, GLA or location factors. An inspection or non-Restricted
report will likely indicate a different value. Subject data is provided by the Client and may be relied upon by the valuer. The Valuer should report and use
other public record subject data sources if available.

Confidence in Accuracy of Value:

Rating Chk Parameter Rating Chk Parameter
1 Familiar with subject or street. 2 XXX Familiar with neighborhood
3 Marginal-not familiar with area, adequate data 4 Poor data, unusual factors.
If Confidence Rating is 4 then please state your concerns. Undertake valuation if you have adequate data.

Explanations: See Scope of Work

Certification and Limiting Conditions:

1. Per client instructions I have undertaken this Evaluation based only upon the data sources listed above.
2. Report is restricted to use by the above named Client only and may not be released to the property owner/applicant, investor or any third party. No warranty.
3. The analysis is based on appropriate closed sales in the subject neighborhood which are considered appropriate.
4. My compensation is not dependent upon any pre-determined value.
5. My final opinion of value reflects only the assumption that the subject property conforms to the subject profile provided by the client or by public record
data if available. Subject data provided by public record data sources only and assumed correct. The subject is assumed to be in average condition
unless the client directs otherwise.
6. No inspection or viewing of subject or comparables. Inspection could result in a different conclusion.
7. I have determined probable value within a range of probable value only based upon data sources reported herein.
8. The client is a knowledgeable professional lender and accepts the restrictions and limitations of this report.
9. Intended compliance with Standard Rule 2.2c for Restricted Reports. Departure from Standard Rules 1-2 thru 1-4 justified by limited use and Client
acceptance of restricted use, non-inspection and value based on records only.
10. This form may only be completed by or under supervision of a licensed appraiser or other real estate professionals only if approved by MREC.

APPRAISER: SUPERVISORY APPRAISER (ONLY IF REQUIRED):

Signature Signature
Name David M. Deska Name
Date Report Signed 12/01/2010 Date Report Signed
State Certification # 1201004420 State MI State Certification # State
Or State License # State Or State License # State
MREC 1011 Hwy 6 South, Ste 105, Houston, TX 77077. Tel: 1-800-227-1601. Fax: (713) 368-1634/1624.
Form DSK — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
 Main File No. 10-7858 Page #4

Supplemental Addendum File No. 10-7858

Borrower/Client N/A
Property Address 19751 San Juan Dr
City Detroit County Wayne State MI Zip Code 48221-1703
Lender Bay Area Equity Group, LLC.
Scope of Work

This is a Limited Analysis/Restricted Appraisal report. Appraisers are required to be licensed and are regulated by the Michigan
Department of Energy, Labor, & Economic Growth, P.O. Box 30018, Lansing, Michigan 48909.

PURPOSE. INTENDED USE, AND INTENDED USER OF THE APPRAISAL: The purpose of the appraisal is to estimate the
market value of the subject property, as defined in this report, on behalf of the referenced client as the intended user of this
report. The intended use of the appraisal is to assist the client, as the intended user of this report, in evaluating the subject
property for portfolio evaluation purposes only. This appraisal is to be used by the client only, using his/her supplied guidelines.
The use of this appraisal by anyone other than the stated intended user (the client), is prohibited. This report was done as a
PDF file. Altering this file in any way makes this appraisal null and void.

No inspection of the subject property or comparables was made, this is a desk appraisal only. This appraisal is made "subject
to" the extraordinary assumption that the subject property has been completely rebuilt (re-habed) and is in above average
condition for the area. The extraordinary assumption is also made that the surrounding area is free of vacant lots and
distress/vacant homes. If either of these assumptions are proven to be incorrect this will have a drastic effect on value.

Per client guidelines, comparables used are to be similar renovated comparables only, within 2 miles of the subject property and
within one year of the appraisal date. Both MLS & PRD (Public Records Data) sales are to be utilized when locating renovated
sales. Since this is a declining market, a time adjustment is applied to each comparable.

A probable value range is provided along with a most probable value estimate, given the information in the appraisers workfile.
MREC Desk Property Evaluation report is used as requested by the client. This report is done to client guidelines only. A full,
bank appraisal may produce a different result due to specific lender guidelines, assumed condition and amenities of the subject
property, market condition & comparable changes since the desktop was performed.

• Desk Property Evaluation: Legal Description

Lot 406 & E 9' of Vac Alley Adj, Assessors Plat of Ridgefield Sub #1, City of Detroit, MI

Form TADD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

 Main File No. 10-7858 Page #5

RESTRICTED APPRAISAL REPORT

DEFINITION OF MARKET VALUE
ORDINARY ASSUMPTIONS AND LIMITING CONDITIONS
CERTIFICATION
DEFINITION OF MARKET VALUE:
The most probable price which a property should bring in a competitive and open market under all conditions
requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not
affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the
passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both
parties are well informed or well advised, and each acting in what he considers his own best interest; (3) a
reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars
or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration
for the property sold unaffected by special or creative financing or sales concessions granted by anyone
associated with the sale.

ORDINARY ASSUMPTIONS AND LIMITING CONDITIONS:

1. The appraiser will not be responsible for matters of a legal nature that affect either the property being
appraised or the title to it. The appraiser assumes that the title is good and marketable and, therefore, will not
render any opinions about the title. The property is appraised on the basis of it being under responsible
ownership.

2. If the appraiser has provided a sketch in the appraisal report, the sketch shows approximate dimensions and
is included only to assist the reader of the report in visualizing the property and understanding the appraiser's
determination of its size.

3. If the appraiser has examined the available flood maps that are provided by the Federal Emergency
Management Agency (or other data sources) and has noted in the appraisal report that the subject site is (or is
not) located in an identified Special Flood Hazard Area, as the appraiser is not a surveyor, he or she makes no
guarantees, express or implied, regarding this determination.

4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the
property in question, unless required to do so by a court.

5. The appraiser has noted in the appraisal report any significant adverse conditions (such as needed repairs,
depreciation, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the
subject property or that he or she became aware of during the normal research involved in performing the
appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or
unapparent conditions of the property or adverse environmental conditions (including the presence of
hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and has
assumed that there are no such conditions and makes no guarantees or warranties, express or implied,
regarding the condition of the property. The appraiser will not be responsible for any such conditions that do
exist or for any engineering or testing that might be required to discover whether such conditions exist.
Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be
considered as an environmental assessment of the property.

6. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report
from sources that he or she considers to be reliable and believes them to be true and correct. The appraiser
does not assume responsibility for the accuracy of such items that were furnished by other parties.

7. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform
Standards of Professional Appraisal Practice.

8. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject
to satisfactory completion, repairs, or alterations on the assumption that completion of the improvements will
be performed in a workmanlike manner.

9. I have agreed to enter into this assignment requested by the client named in the report for the use specified
by the client which is stated in the report, which calls for things that are different from the work that would
otherwise be required by the specific guidelines of the USPAP. The client has agreed that the performance
of this limited appraisal service is appropriate for their intended use.

DM Valuation, Inc.
Form 79A — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
 Main File No. 10-7858 Page #6

CERTIFICATION:
I certify that, to the best of my knowledge and belief:

the statements of fact contained in this report are true and correct.

the reported analyses, opinions and conclusions are limited only by the reported assumptions and limiting
conditions, and are my personal, unbiased professional analyses, opinions, and conclusions.

I have no (or the specified) present or prospective interest in the property that is the subject of this report, and I
have no (or the specified) personal interest or bias with respect to the parties involved.

my compensation is not contingent upon reporting of a predetermined value or direction in value that favors the
cause of the client, the amount of the value estimate, the attainment of a stipulated result, or the occurrence of a
subsequent event.

my analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with
the Uniform Standards of Professional Practice.

I have (or have not) as indicated on the report made a personal inspection of the property that is the subject of
this report. If more than one person has signed the report, each person has indicated on the report whether they
did or did not make an inspection of the appraised property.

unless otherwise indicated below, no one provided me with significant professional assistance in the completion
of this appraisal assignment.

SUPERVISORY APPRAISER'S CERTIFICATION:

If a supervisory appraiser signed the appraisal report, he or she certifies and agrees that: I directly supervise the
appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the statements and
conclusions of the appraiser, agree to be bound by the appraiser's certifications, and am taking full responsibility for
the appraisal and the appraisal report.

APPRAISER: SUPERVISORY APPRAISER:

Signature: Signature:

Name: David M. Deska Name:

Date Signed: 12/01/2010 Date Signed:

State Cert./License #: 1201004420 State Cert./License #:

State: MI State:

Exp. Date of Certification or License: 7/31/2011 Exp. Date of Certification or License:

I ( ) did ( ) did not inspect the subject property. I ( ) did ( ) did not inspect the subject property.

Form 79A — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE

 Main File No. 10-7858 Page #7

Location Map
Borrower/Client N/A
Property Address 19751 San Juan Dr
City Detroit County Wayne State MI Zip Code 48221-1703
Lender Bay Area Equity Group, LLC.

Form MAP.LOC — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE