Sherwood Development Project

Purpose of Loan: To provide a construction facility for the development of 16 residential units at Sherwood

Loan Limit: 1st Mortgage – $5,750,000

LVR: 1st Mortgage – 86% of Total Development Costs ex GST

Loan Term: 12 months

Facility Type: Construction Loan

Interest Rate: 9.00% per annum + 3.00% Line Fee

Presales: 50% of debt cover