Foreclosure Management

Peoples Management Group, LLC (PMG) provides comprehensive foreclosure management services. From a borrower's first missed
payment to the final sale of REO property, PMG's program ensures that lenders receive maximum value throughout the entire foreclosure
process.

Lenders are in the business of lending, not the business of managing and marketing real estate. PMG adds value by removing real estate
management and marketing responsibilities from lending staff thereby allowing them to focus on core competencies. By outsourcing
real estate functions to PMG, lenders will realize cost savings due to PMG's ability to obtain volume discounts from service vendors and
increase recovery by improving each property's marketability through specific recommendations by Peoples Company real estate agents.

Foreclosure Property Monitoring
PMG's foreclosure management program is unique in that it first focuses upon foreclosure property monitoring to ensure borrowers are occupying and preserving the property. At lender's option, PMG will assign an agent to the property to visually monitor its status at fixed intervals, as well as provide an opinion as to the property's market value.

REO Services
At the conclusion of foreclosure proceedings, each Real Estate Owned (REO) property will be assigned to a Peoples Company listing agent,
who will obtain its occupancy status and continue to monitor for vacancy if required. Once vacant, the agent will conduct an internal inspection of the property and provide the lender with a property condition report with photographs, a Broker Price Opinion and suggestions for improving marketability of the property. Throughout the listing period, agent will continue to monitor the property on a
weekly basis. Additional REO services available from PMG include:

Secure Property: Re-key property
Payment Services: Utilities, insurance, taxes
Cleaning: Trash-out and cleaning
Repair: Emergency repair, paint, improvements to enhance marketability
Maintenance: Pool care, yard care, snow removal, basic winterization
Appraisals: Independent appraisal
Reports: Foundation, termite, etc.
Rental Properties: Collection of rental payments, leasing

Recovery Maximization
With each listing, a Peoples Company agent will provide the lender with a Broker Price Opinion and a detailed property condition report
with photographs, a suggested list price, a market strategy specific to the property type and suggestions for improving its marketability to
maximize the lender's recovery. Agents will inspect each property weekly and provide monthly reports to lender with continued emphasis
on enhancing marketability and attracting buyers.

Marketing: Standard Listing, Foreclosure Seminars, Auctions
REO properties are first marketed utilizing standard listing techniques. In the event a property does not sell as quickly as desired, a unique
and critical component of the Peoples Company REO marketing approach involves location of suitable buyers by offering foreclosure investment seminars showcasing the lenders' listed properties. As a final alternative, Peoples Company is one of a select few providers of
auction services.

Negotiation, Closing and Financing
Subject to lender approval, PMG will negotiate purchase terms with prospective buyers based upon predetermined parameters. Upon final
acceptance of the offer, PMG will coordinate and monitor closing matters including inspections, contingencies, loan approvals, repairs,
abstract reconstruction and escrow. When appropriate, buyers of managed properties will have the option of arranging financing through
the lender offering the REO property.

PMG Receivership and Distressed Property Program

Properties in foreclosure proceedings or under receivership often are in states of considerable distress. PMG specializes in quickly creating
customized solutions to solve difficult problems in such circumstances. In many cases, companies offering management services for distressed properties provide one level of service which may be considered as only reactive in nature. While the first stage of distressed property management requires a reactive posture, PMG implements a comprehensive four-stage process that substantially reduces liability
risks, increases cash flow, and in the end, increases property value at final disposition.

PMG has served as manager for some of Iowa's most complex and difficult receivership and distressed property scenarios. While
challenging, through its four-stage program, PMG has brought several properties from the brink of inhabitability to a stabilized and self
sustaining state. In the end, owners and lenders have realized increased returns, tenant retention and overall property value. PMG's four-stage
distress property management program follows:

Stage One: Reactive
PMG identifies and resolves serious, imminent threats to safety and health of tenants, as well as threats to the property. Documentation
concerning financial and leasing status is obtained, secured and/or recreated. Communication is initiated and developed with employees,
tenants and vendors.

Stage Two: Stabilization
PMG continues to focus on resolution of health and safety issues. Solutions are created to address issues contributing to the degradation
of property value that are not readily apparent at the time management responsibilities are assumed. Substantial emphasis is placed on
repairing relationships with tenants and vendors. Property rehabilitation opportunities are identified. Regular communication and reporting is
provided to the lender.

Stage Three: Proactive
PMG develops a long-term property plan and budget based upon the goals and desires of the lender. Rehabilitation projects that will
increase property value and cash flow are implemented. Expenses are reduced and risks are mitigated by implementing appropriate
screening processes for vendors and tenants. Regular communication and reporting continues.

Stage Four: Disposition and Transition
PMG teams with Peoples Company, one of Iowa's most diverse real estate brokerages, to dispose of the property. PMG disseminates
financial information to prospective clients and assists with coordination of property showings. Upon the sale and closing of the property, PMG
coordinates a smooth and successful transition of financial, leasing and vendor concerns.