Agriculture Properties

Property Types Include

Farms and Ranches

Agriculture Indicative Term Sheet

Loan Amount	$1,000,000 - $300,000,000
Interest Rate View Today's Rates	Fixed at the comparable Term U.S. Treasury plus competitive spreads (subject to market change); locked two days before closing. Early rate lock also available
Loan Term	3, 5, 7, 10 years; longer terms available on a case-by-case base
Amortization	Up to 30 years; older properties will receive a maximum amortization of 25 years
Maximum LTV	Refinance: up to 85% (with cash out)
Acquisition	80% of loan to purchase price
New Construction	80% LTC value (completed)
Minimum DSCR	1.2x for most Multi-Family properties
Appraisal Report	Required; a summary appraisal format may acceptable
Environmental	Environmental reports are not required: however, environmental insurance is required
Escrows	Required for monthly real estate taxes and property insurance; replacement reserves are underwritten but not collected; tenant improvements and leasing costs are generally not required but evaluated on a case-by-case basis
Non-Recourse	Except for standard carve-outs
Assumable	Subject to approval and a 1% fee
Security	First Mortgage on fee simple interest
Prepayment	Two year lockout from the time of securitization; defeasance for the remaining term, with the last six months open to prepayment without penalty
Supplemental Financing	Will be allowed with approval after 12 months
Fees	$ 0.00	Application Fee
	$ 0.00 (generally)	Term Sheet Fee
	Low to none	Success Fee
	To cover 3rd Party Reports/Underwriting	Expense Retainer
THE REVIEW OF A FILE DOES NOT CONSTITUTE A FULLY UNDERWRITTEN LOAN FILE. ACCORDINGLY, THIS IS NOT A COMMITMENT TO LEND MONEY. THIS CONDITIONAL LOAN UNDERWRITING IS BASED SOLELY ON THE INFORMATION SUBMITTED. THIS LOAN FILE IS SUBJECT TO A SATISFACTORY UNDERWRITING OF ALL ORIGINAL OR REQUIRED DOCUMENTS AND A QUALITY CONTROL REVIEW. IF THE ITEMS OR DOCUMENTS SUBMITTED ARE NOT CONSIDERED SATISFACTORY, OR THERE ARE CHANGES THAT WOULD ADVERSELY AFFECT THE FINANCIAL CONDITION OF THE BORROWER, THE PHYSICAL CONDITION OF THE PROPERTY OR THE MARKETABILITY OF THIS LOAN, THE APPLICATION MAY BE AMENDED OR CONSIDERED VOID IN THE SOLE DISCRETION OF UNDEWRITERS PREFERRED COMMERCIAL TRUST AND/OR ITS INVESTORS. THIS RATE SHEET IS NOT TO BE CONSTRUED AS A CONSUMER ADVERTISEMENT UNDER REGULATION Z 1026.24. NOT INTENDED FOR THE GENERAL PUBLIC.

We treat our business relationships like partnerships.