Overview of Columbia Capital including our service offering, executive team, and national contact information.

2. Columbia Capital Consulting Group assists financial institutions, investors and advisors in achieving 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 overview 2

4. Asset Status Review

5. Loan Collateral Review

6. Market Review

7. Title Review

8. Loan Resolution and Recovery Alternatives

9. Asset Resolution and Recovery Alternatives

10. Market Perception of Value

11. Hold, Workout or Sell

12. Reports Tailored to Client Scope, Timing and Budget

14. Construction and Project Completion

15. Asset Reposition

16. Risk Management

17. Credit Management

18. Default Management

19. Corporate Governance

20. Management of Real Estate Brokerage

21. Asset Marketing Plans

22. Transaction Oversight3

23. Asset Assessment Reports Asset Status Review Under development/construction Entitlements Assessments and mitigation fees Development Construction improvements Income-producing assets Operational review Lease review Income versus mark-to-market Identify issues that any owner will need to address Loan Collateral Review Provide complete and reliable due diligence file supporting the resolution or investment Market Review Determine current market inventory, assess supply and demand Identify specific competitive factors impacting or enhancing value Title Review Verify Lender collateral Compare legal descriptions on the deed(s) of trust with the legal description on the title 4

24. strategy & recommendation reports Assess and Critically Evaluate Loan Resolution and Recovery Alternatives Forbearance agreement Workout with borrower Receivership Deed-in-lieu of foreclosure Foreclosure Note disposition Assess and Critically Evaluate Asset Resolution and Recovery Alternatives For financial institutions, assess limiting factors Asset stabilization, reposition and rehabilitation Asset disposition Market Perception of Value Real estate principal approach Prepare analyses supporting recommendation(s) Provide Recommendation(s) to Hold, Workout or Position for Sale Recommendation(s) support decision making process for Client Evaluate of alternative courses of action 5

25. Asset Stabilization Preserve entitlements by extending active permits and applications Coordinate the conversion or release of bonds Order final inspections Ensure compliance with local, state and federal regulations Coordinate asset management, such as winterization, erosion control and site security Construction and Project Completion Complete partially constructed projects and buildings Coordinate architects, designers and engineers to complete design and permitting Provide representation with agencies and jurisdictions to obtain approvals and permits Manage general contractors and consultants needed to complete construction Coordinate final inspections and project close-out procedures Asset Reposition Assist in development of value accretion construction initiatives Manage general contractors and consultants needed to complete construction CONTRACT ADMINISTRATION SERVICES 6

26. TRANSACTION COORDINATION SERVICES Management of Real Estate Brokerage Select real estate brokerage Negotiate brokerage contract terms Assist in the Development of Asset Marketing Plans Create asset marketing strategies Work in conjunction with real estate brokerage to develop marketing materials Monitor status of the asset marketing plans and sales campaign Transaction Oversight Participate in the Buyer selection process Address Buyer inquiries through the feasibility period Provide assistance to Client’s attorney to facilitate the transaction closing 7

27. Portfolio Risk Evaluation Evaluate Risk Management Plan Evaluate Data Management Capabilities Evaluate Decision Capabilities Evaluate Default Management Capabilities Enhance Corporate Governance Provide Consulting for Bank Financial Considerations Real 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 services 8

28. 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 Client Established 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 planning Client collaboration to craft comprehensive road map to resolve non-performing or under-performing real estate loans and assets as well as facilitate new business COLUMBIA CAPITAL CAPABILITIES 9

29. The Columbia difference Columbia 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 client No limiting factors or ‘point in time’ boundaries Thorough, diligent research Ask the right questions and obtain all the relevant data With loans, review both collateral and asset values Diverse team of real estate and capital market professionals analyze individual aspects of each loan/asset Complete due diligence package Result of work is a reliable due diligence report/file Serves as a feasibility study for owners, sellers and buyers reducing potential for re-trading at closing table Clients receive practical and unbiased solutions without an agenda. Assessment of current market value As-is value including outstanding cost considerations Real estate ‘principal’ approach Assessment of multiple exit strategies and recovery options Recommended option for existing market conditions and implications for selecting alternatives 10

30. National Coverage Northwest Seattle Jordan Schenk (425) 367-6215 Portland Michael Sander (425) 501-8176 Northeast New York Ken Spears (973) 868-9481 Midwest Chicago George Marquisos (847) 417-2684 Mid-Atlantic Philadelphia Bud Moscony (215) 771-6495 Southeast Miami Harry Mizrahi (212) 362-1993 West Santa Ana Bud Moscony (215) 771-6495 Southwest Corporate Dallas Tim Lanier (214) 850-0554 Mailing Address 2722 Colby AvenueSuite 515 Everett, WA 98201 Main Line (425) 367-6200 11

31. Executive management Ronald CathcartChief Executive Officer Ron’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 2,200 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 (RAS) 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. Harry MizarahiChief Operating Officer With 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. Michael SanderExecutive Vice President Having 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. 12

32. Executive management William RichExecutive Vice President William (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. Dustin AllenBoard Director As the architect of the due diligence reporting service, and the previous President and CEO of Westgate Business Services, LLC 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 pivotal role in the day-to-day management the organization. 13

33. Columbia capital contacts Ronald Cathcart Chief Executive Officer (425) 367-6217 rcathcart@columbiaccg.com Michael Sander Executive Vice President (503) 805-5524 msander@columbiaccg.com Harry Mizrahi Chief Operating Officer (212) 362-1993 hmizrahi@columbiaccg.com William Rich Executive Vice President (541) 419-3249 brich@columbiaccg.com Melanie Clark Director of Production (425) 367-6216 mclark@columbiaccg.com Jordan Schenk Director (425) 367-6215 jschenk@columbiaccg.com Bud Moscony Director (215) 771-6495 bmoscony@columbiaccg.com Dusty Allen Board Director (702) 604-5267 dallen@columbiaccg.com Ken Spears Director (973) 868-9481 kspears@columbiaccg.com George Marquisos Director (312) 607-6020 gmarquisos@columbiaccg.com Tim Lanier Director (214) 850-0554 tlanier@columbiaccg.com www.columbiaccg.com THIS 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. 14