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1

Placed Credit Percentage 12th St. Annex 319 E 600 S Salt Lake City UT 84111 No 1994 1994 Not Indicated 4 4 Not Indicated No American Heritage Apartments 11800 S State St Draper UT 84020 No 1998 1998 New Construction 152 80 70 % present value No Art Space Ii 353 W 200 S Salt Lake City UT 84101 Not Indicated 53 Not Indicated Ashby 358 E 100 S Salt Lake City UT 84111 No 2005 2005 Acquisition And Rehab 27 27 Both 30% and 70% No Ashley Valley Apts. 1320 W Main St Vernal UT 84078 No 1997 1999 New Construction 32 32 30 % present value No Aspen Court 550 W 1800 N Logan UT 84341 Yes 2004 $ 721,127 2006 New Construction 71 71 60% AMGI 70 % present value No Aspen View 1230 E Elgin St. Holladay UT 84106 No 1996 1996 New Construction 16 16 70 % present value No Aspen Villas 1863 Kearns Blvd Park City UT 84060 No 1996 1996 New Construction 88 88 70 % present value Yes Avion Townhomes 7905 Old Bingham Hwy West Jordan UT 84088 Not Indicated 55 Not Indicated Baus Butte Apts. 116 S 100 W Blanding UT 84511 No 1995 1995 New Construction 24 23 70 % present value No Bay Harbor Apts. 1125 E 1080 S Provo UT 84606 No 2000 2000 New Construction 60 60 30 % present value Yes Bear River Valley Apts. 777 W 600 S Tremonton UT 84337 Yes 2003 2005 Acquisition And Rehab 32 32 Both 30% and 70% No Bicentennial Park Crown 810 W North Cedar Blvd Cedar City UT 84721 Not Indicated 13 Not Indicated Bigelow Apts. 225 S 400 E Salt Lake City UT 84111 No 2002 2003 Acquisition And Rehab 45 45 Both 30% and 70% No Black Hills Apts. 454 N Valley View Dr Saint George UT 84770 Not Indicated 50 Not Indicated Blue Mountain Dine 442 Nizhoni Ct Blanding UT 84511 Yes 1999 1999 New Construction 20 20 70 % present value No Bluffs Apts. 14035 Marketview Dr Bluffdale UT 84065 No 2003 2003 New Construction 168 168 30 % present value Yes Boulder Pines Apts. 4040 S 1535 W Salt Lake City UT 84123 No 2001 2001 Acquisition And Rehab 160 160 30 % present value Yes Boulder Pointe Apts. 600 W 850 S Provo UT 84601 No 1999 2000 New Construction 96 84 70 % present value No Boulder Springs Apts. 750 S 650 W Provo UT 84601 No 1999 2000 Acquisition And Rehab 276 276 Both 30% and 70% No Box Elder Commons 130 E 400 N Brigham City UT 84302 Yes 1999 2001 New Construction 16 15 70 % present value No Bradley Apts. 355 N 700 W Salt Lake City UT 84116 No 1994 1994 Not Indicated 8 6 Not Indicated No Bramblewood Apts. 173 Dan St North Ogden UT 84404 Not Indicated 68 Not Indicated Bridge Projects 511 W 200 S Salt Lake City UT 84101 Yes 1999 2001 New Construction 62 62 70 % present value No Bridgeside Landing 556 W 4500 S Taylorsville UT 84123 No 1998 1998 New Construction 300 102 70 % present value Yes Brittany Greens Apts. 460 Westland Dr Brigham City UT 84302 No 1998 2000 New Construction 90 80 70 % present value No Campbell Court 1596 W 3395 S West Valley City UT 84119 Not Indicated 26 Not Indicated Canyon Breeze Senior Living 380 E 240 N Orem UT 84057 Not Indicated 57 Not Indicated Canyon Park Apts. 298 E Fiddlers Canyon Rd Cedar City UT 84721 No 1996 1996 New Construction 24 24 70 % present value No Canyon Pointe I 1737 W 360 N Saint George UT 84770 No 1994 1994 Not Indicated 50 50 Not Indicated No Canyon View Apts. 1264 N Cedar Blvd Cedar City UT 84721 No 2003 2003 New Construction 80 64 30 % present value Yes Canyon View Apts. 142 W 500 N Provo UT 84601 No 2000 2002 New Construction 30 30 70 % present value No Capitol Villa 239 W 600 N Salt Lake City UT 84103 Yes 2002 2003 Acquisition And Rehab 108 108 Both 30% and 70% No Carillon Court 24 E 1200 S Orem UT 84058 No 2000 2000 New Construction 16 16 70 % present value No Cedar Crest Apts. 1926 S West Temple Salt Lake City UT 84115 Yes 1993 1993 Not Indicated 12 12 Not Indicated No Centennial Park 810 W North Cedar Blvd Cedar City UT 84721 Yes 1996 1996 New Construction 13 13 70 % present value No Citifront Apts. 641 W North Temple Salt Lake City UT 84116 No 2004 2003 New Construction 155 95 30 % present value Yes Colonial Manor 215 N Center St Lehi UT 84043 No 1992 1992 Not Indicated 35 15 Not Indicated No Compass Court Townhomes 1484 W 3500 S West Valley UT 84119 No 1998 1998 New Construction 40 40 70 % present value No Compass Townhomes 3306 W 3500 S Salt Lake City UT 84119 No 1996 1996 New Construction 34 34 70 % present value No Compass Villa 1466 W 3500 S West Valley City UT 84119 No 1998 1998 New Construction 55 43 70 % present value No Coppergate Apts. 8870 S State St Sandy UT 84070 No 2004 2003 New Construction 192 192 30 % present value Yes Cottonwood Apts. I 315 E 300 S Roosevelt UT 84066 Not Indicated 34 Not Indicated Cottonwood Apts. Ii 315 E 300 S Roosevelt UT 84066 No 1998 1999 New Construction 20 20 70 % present value No Cottonwood Terrace 8176 South 1300 East Salt Lake City UT 84904 No 1992 1992 Not Indicated 102 102 Not Indicated No Country Oaks Apts. 1480 S 1000 E Clearfield UT 84015 No 2000 2000 New Construction 72 72 70 % present value Yes Country Oaks I Apts. 337 N 700 W Salt Lake City UT 84116 No 1993 1993 Not Indicated 7 7 Not Indicated No Country Oaks Ii 325 N 700 W Salt Lake City UT 84116 No 1994 1994 Not Indicated 17 17 Not Indicated No Country Pines Phase I 1748 W 1800 N Clearfield UT 84015 No 1993 1993 Not Indicated 47 47 Not Indicated No Country Pines Retirement Manor 1706 W 1800 N Clearfield UT 84015 No 1998 1998 New Construction 63 57 70 % present value Yes Country Villa Apts. 580 E 650 N Roosevelt UT 84066 Not Indicated 4 Not Indicated Country Village Apts. 380 W 600 N Beaver UT 84713 No 2000 2002 New Construction 12 12 70 % present value No Country Woods Apts. 525 Park Blvd Ogden UT 84401 Not Indicated 168 Not Indicated Countryside Apts. 650 N Washington Blvd North Ogden UT 84404 Not Indicated 72 Not Indicated Ceiling 2

Placed Ceiling Credit Percentage Crimson Court 1143 W 220 N Provo UT 84601 No 1996 1996 New Construction 8 8 70 % present value No Crown At Spring Creek 891 Waterside Dr Farmington UT 84025 No 2006 $ 62,605 2006 New Construction 5 5 60% AMGI 70 % present value No Crown Roosevelt 36 S 500 W Roosevelt UT 84066 No 1993 1993 Not Indicated 2 2 Not Indicated No Crown South Salt Lake 2701 S Main St South Salt Lake UT 84115 No 1996 1996 New Construction 4 4 70 % present value No Crown Village Apts. 360 N 270 W Tremonton UT 84337 No 2004 $ 175,744 2006 New Construction 24 24 60% AMGI 70 % present value No Crystal View Apts. 2627 Kilby Rd Park City UT 84098 No 1993 1993 Not Indicated 96 96 Not Indicated No Cw Development Apts. 307 E 600 S Salt Lake City UT 84111 Not Indicated 16 Not Indicated Desert Rose Villas 2929 E 450 N Saint George UT 84790 Yes 2002 2003 New Construction 66 64 70 % present value No Diamond Fork Apts. 312 N Diamond Fork Loop Spanish Fork UT 84660 No 2002 2002 New Construction 60 60 30 % present value Yes Dixie Dr. Apts. 6330 Dixie Dr West Jordan UT 84084 Yes 1993 1993 Not Indicated 96 96 Not Indicated No Dominguez Park Iii 3970 S 700 W Salt Lake City UT 84123 Yes 2004 2005 Acquisition And Rehab 60 60 Both 30% and 70% No Edison Place Apartments 134 E 1300 S Salt Lake City UT 84115 Yes 2005 2004 Acquisition And Rehab 95 95 30 % present value Yes Edison Place Apts. 128 E 1300 S Salt Lake City UT 84115 Not Indicated 95 Not Indicated Elk Meadows Apts. 6330 Dixie Dr West Jordan UT 84084 Not Indicated 96 Not Indicated Elmhurst Apts. 2432 Van Buren Ave Ogden UT 84401 Not Indicated 15 Not Indicated Escalante Iii Apts. 1040 N Redwood Rd Salt Lake City UT 84116 No 2001 2002 Acquisition And Rehab 80 80 30 % present value No Fairview Apts. 526 27th St Ogden UT 84403 No 2001 2002 Acquisition And Rehab 32 32 30 % present value No Family Support Center Crown 8221 Allen St Midvale UT 84047 Yes 2001 2003 New Construction 8 8 70 % present value No Florentine Villas 7497 Siena Vista Ln Midvale UT 84047 Not Indicated Not Indicated Foothill Manor I 659 N 100 E Brigham City UT 84302 No 1994 1994 Not Indicated 14 14 Not Indicated No Foothill Manor Ii 650 N Main St Brigham City UT 84302 No 1994 1994 Not Indicated 14 14 Not Indicated No Fort Lane Senior Apts. 300 N Fort Ln Layton UT 84041 Not Indicated 100 Not Indicated Fountain Heights I 3424 S River Rd Saint George UT 84790 No 2001 2002 New Construction 60 50 70 % present value No Fountain Heights Ii 3424 S River Rd Saint George UT 84790 Yes 2003 2004 New Construction 60 60 70 % present value No Foxboro Terrace Apts. 882 Foxboro Dr North Salt Lake UT 84054 No 2005 2005 New Construction 180 170 30 % present value Yes Francis Peak View 600 W Mutton Hollow Rd Kaysville UT 84037 Yes 2002 2003 Acquisition And Rehab 119 119 Both 30% and 70% No Frontgate Apts. 4623 Urban Way Murray UT 84107 Not Indicated 128 Not Indicated Frontier Transitional Housing 3579 S State St Salt Lake City UT 84115 Yes 2001 2003 Acquisition And Rehab 14 14 Both 30% and 70% No Gatehouse Apts. 280 N Fort Ln Layton UT 84041 No 1993 1993 Not Indicated 100 100 Not Indicated No Grace Mary Manor 19 W Gregson Ave Salt Lake City UT 84115 Not Indicated 84 Not Indicated Grand Vista Apts. 620 E 100 N Payson UT 84651 Not Indicated 27 Not Indicated Green Grove Apts. 170 S Pleasant Grove Blvd Pleasant Grove UT 84062 No 2005 $ 468,931 2006 New Construction 168 168 60% AMGI 30 % present value Yes Greenwood Manor 215 N Center St Lehi UT 84043 Not Indicated 35 Not Indicated Gregson Apts. 19 W Gregson Ave Salt Lake City UT 84115 Not Indicated 16 Not Indicated Hanbury Manor 251 W 1600 N Logan UT 84341 No 2000 2002 New Construction 108 93 70 % present value No Harmony Gardens 3125 S 3600 W Salt Lake City UT 84119 Not Indicated 96 Not Indicated Haven Pointe 2265 S 1100 W West Haven UT 84401 No 2002 2002 New Construction 192 168 30 % present value Yes Heather Estates I 25 E 1800 S Clearfield UT 84015 No 1997 1997 New Construction 108 120 70 % present value Yes Heather Estates Ii 1800 S 200 W Clearfield UT 84015 No 1997 1997 New Construction 48 48 70 % present value Yes Heritage Apts. Draper 11715 S State St Draper UT 84020 Not Indicated 152 Not Indicated Heritage Apts. Magna 3544 Kingsburg Cv Magna UT 84044 No 1998 2000 New Construction 80 76 70 % present value No Heritage House Apts. 277 E 5000 S Washington Terrac UT 84405 Not Indicated 34 Not Indicated Heritage Place 1150 S Main St Bountiful UT 84010 Not Indicated 32 Not Indicated Hidden Meadows Apts. 1794 Hidden Meadows Dr Holladay UT 84117 No 2001 2001 Acquisition And Rehab 133 133 30 % present value Yes Hidden Oaks Ii 1584 W 3395 S West Valley City UT 84119 No 1992 1992 Not Indicated 4 4 Not Indicated No Hidden Oaks Iiia 1584 W 3395 S Salt Lake City UT 84119 Not Indicated 4 Not Indicated Hidden Oaks V 6330 Dixie Dr West Jordan UT 84084 Not Indicated 96 Not Indicated Hidden Oaks Vi 3417 S 200 E Salt Lake City UT 84115 Not Indicated 28 Not Indicated Hidden Oaks Vii 3427 S 200 E Salt Lake City UT 84115 No 1997 1999 New Construction 6 6 70 % present value No Holiday Village Apts. 2200 Monitor Dr Park City UT 84060 Yes 2000 2000 Acquisition And Rehab 80 80 30 % present value Yes Holladay Hills I 3714 Highland Dr Salt Lake City UT 84106 Yes 1993 1993 Not Indicated 70 70 Not Indicated No Holladay Hills Ii 3678 Highland Dr Salt Lake City UT 84106 Yes 1994 1994 Not Indicated 60 60 Not Indicated No Holly Haven Apts. 1100 S 1000 E Clearfield UT 84015 Yes 2002 2002 Acquisition And Rehab 84 84 30 % present value Yes Hoover Apartments 330 27th St Ogden UT 84401 No 2002 2003 Acquisition And Rehab 23 23 Both 30% and 70% No 3

Placed Ceiling Credit Percentage Huntridge Apts. 622 Kane Creek Blvd Moab UT 84532 No 2004 $ 79,831 2005 Acquisition And Rehab 24 23 60% AMGI Both 30% and 70% No Huntsman 322 E 300 S Salt Lake City UT 84111 Not Indicated 36 Not Indicated Hurricane Hills I 2002 W 200 S Hurricane UT 84737 No 1997 1997 New Construction 50 50 70 % present value No Hurricane Hills Ii 2002 W 200 S Hurricane UT 84737 No 1998 1998 New Construction 28 20 70 % present value No Iris Apts. 4865 S State St Murray UT 84107 Yes 1998 2000 Acquisition And Rehab 31 31 Both 30% and 70% No James Kier Senior Apts. 260 E 800 S Salt Lake City UT 84111 Yes 2004 $ 520,128 2005 New Construction 51 51 60% AMGI 70 % present value No Jefferson Park Apts. 1023 W 540 N Saint George UT 84770 Not Indicated 50 Not Indicated Jefferson School Apts. 1099 S West Temple Salt Lake City UT 84101 No 2000 2002 New Construction 84 36 70 % present value No Jefferson School Apts. Ii 1011 S West Temple Salt Lake City UT 84101 No 2005 $ 159,864 2005 New Construction 84 48 60% AMGI 30 % present value Yes Kane Creek Apts. 101 Kane Creek Blvd Moab UT 84532 Not Indicated 36 Not Indicated Kara Manor Apts. 4960 S 425 W Washington Terrac UT 84405 Not Indicated 44 Not Indicated Kd Apts. 1460 W 25 N Clearfield UT 84015 No 1994 1994 Not Indicated 16 8 Not Indicated No Kelly Benson Apts. 3122 S 3600 W West Valley City UT 84119 Not Indicated 59 Not Indicated Kensington East 426 E Nichols Canyon Rd Cedar City UT 84721 No 1998 1998 New Construction 72 52 70 % present value No Kensington Place 353 E Cobblecreek Dr Cedar City UT 84721 No 1997 1997 New Construction 60 60 70 % present value No Kingstowne Apts. 2245 Monroe Blvd Ogden UT 84401 Yes 2003 2004 Acquisition And Rehab 48 48 Both 30% and 70% No Lakeview Apts. 742 N 100 E Tooele UT 84074 Not Indicated 76 Not Indicated Landmark Apts. 350 W 400 S Tooele UT 84074 Yes 2003 2004 Acquisition And Rehab 52 52 Both 30% and 70% No Layton Pointe Apts. 355 Knowlton St Layton UT 84041 No 2004 2004 Acquisition And Rehab 96 96 30 % present value Yes Lazy Days Apts. 266 W 200 N Kanab UT 84741 No 2000 2002 Acquisition And Rehab 30 30 30 % present value No Legacy Village Apts. 6256 Gold Medal Dr Taylorsville UT 84129 No 2003 2004 New Construction 144 101 70 % present value No Lexington Park Apts. 2293 W Lexington Park Ave. Salt Lake City UT 84119 No 1993 1993 Not Indicated 80 80 Not Indicated No Liberty Citywalk Apts. 210 S 300 E Salt Lake City UT 84111 Not Indicated 73 Not Indicated Liberty Heights Apts. 8176 S 1300 E Sandy UT 84094 Not Indicated 104 Not Indicated Liberty Metro Apts. 555 S 200 E Salt Lake City UT 84111 No 2003 2005 New Construction 100 83 70 % present value No Liberty Midtown Apts. 225 S 300 E Salt Lake City UT 84111 Yes 1993 1993 Not Indicated 72 38 Not Indicated No Lifestart Village Apts. 8221 Allen St Midvale UT 84047 Not Indicated 39 Not Indicated Logan Pointe Apts. 1320 N 200 E Logan UT 84341 No 1998 1999 New Construction 105 93 70 % present value No Lorin Farr Crown 1183 22nd St Ogden UT 84401 Yes 1994 1994 Not Indicated 13 13 Not Indicated No ell Apts. 756 S 200 E Salt Lake City UT 84111 Not Indicated 80 Not Indicated Madison Manor Apts. 2434 Madison Ave Ogden UT 84401 Not Indicated 46 Not Indicated Maeser School Apts. 162 S 500 E Provo UT 84606 No 2004 $ 241,364 2006 Acquisition And Rehab 31 31 60% AMGI Both 30% and 70% No Mapleview Apts. 1193 E 300 N Provo UT 84606 No 1998 2000 New Construction 24 24 70 % present value No Marion Hotel 184 25th St Ogden UT 84401 No 1992 1992 Not Indicated 86 86 Not Indicated No Meadow View I 530 S 70 E Deer Mountain UT 84036 Not Indicated 8 Not Indicated Meadow View Ii 540 S 70 E Deer Mountain UT 84036 No 1994 1994 Not Indicated 16 16 Not Indicated No Mill Creek Ii 759 W Center St Midvale UT 84047 Not Indicated 54 Not Indicated Mill Hollow 598 S 100 E Bountiful UT 84010 No 1994 1994 Not Indicated 16 16 Not Indicated No Mountain Glen Apts. 5725 Wasatch Dr Ogden UT 84403 Not Indicated 80 Not Indicated Mountain Shadows Apts. 465 S 400 E Nephi UT 84648 Not Indicated 24 Not Indicated Mountain View East Apts. 273 N 1000 E Payson UT 84651 Not Indicated 32 Not Indicated Mountain View Suites 364 S 100 E Cedar City UT 84720 No 1999 2000 New Construction 18 18 30 % present value No Mt. Eyrie Apts. 1225 North 454 East. North Ogden UT 84404 No 1994 1994 Not Indicated 38 38 Not Indicated No Multi Ethnic Senior Highrise 120 S 200 W Salt Lake City UT 84101 Not Indicated 141 Not Indicated Newpark Studios 1436 Ute Blvd Park City UT 84098 Not Indicated 38 Not Indicated North Pointe Apts. 1580 N 200 E Logan UT 84341 Not Indicated 80 Not Indicated Northfield Village Apts. 315 W 1175 N Cedar City UT 84721 No 1994 1994 Not Indicated 52 52 Not Indicated No Northgate Apts. 135 S 500 W Salt Lake City UT 84101 No 2000 2002 New Construction 330 159 70 % present value No Oakstone 1550 S 1000 E Clearfield UT 84015 No 1998 1998 New Construction 60 30 70 % present value Yes Oakstone Apts. 1550 S 1000 E Clearfield UT 84015 No 1998 1999 New Construction 210 105 30 % present value Yes Oasis Cove Apts. 1740 W 360 N Saint George UT 84770 No 1997 1997 New Construction 70 52 70 % present value No Old Kent Apts. 832 S 200 W Salt Lake City UT 84101 No 2002 2003 New Construction 7 7 70 % present value No Old Mill At Stansbury 160 Hilary Ln Stansbury Park UT 84074 No 2004 2005 New Construction 56 56 70 % present value No Old Mill At Stansbury Ii 161 Hilary Ln Stansbury Park UT 84074 No 2005 $ 850,100 2006 New Construction 70 70 60% AMGI 70 % present value No 4

Placed Credit Percentage Oquirrh View Apts. 552 N 270 E Tooele UT 84074 No 1994 1994 Not Indicated 16 16 Not Indicated No Ouray Duplex 317 Ouray Ave Salt Lake City UT 84103 No 1996 1996 Acquisition And Rehab 2 2 70 % present value No Palisade Park Apts. 470 E 100 S Ephraim UT 84627 Not Indicated Not Indicated Palladio Apts. 360 S 200 W Salt Lake City UT 84101 Not Indicated 96 Not Indicated Palmer Court Apts. 999 S Main St Salt Lake City UT 84111 Not Indicated 201 Not Indicated Park Gate Apts. 5491 S Jackie Way Murray UT 84107 No 2005 $ 234,230 2006 New Construction 80 80 60% AMGI 30 % present value Yes Park Place At City Centre 731 S 300 E Salt Lake City UT 84111 No 2005 $ 371,683 2006 Acquisition And Rehab 224 224 60% AMGI 30 % present value Yes Parkside Apts. 1776 Kearns Blvd Park City UT 84060 Yes 2004 2005 Acquisition And Rehab 42 42 30 % present value Yes Pauline Downs Apts. 110 S 300 E Salt Lake City UT 84111 Yes 1994 1994 Not Indicated 112 14 Not Indicated No Peter Pan Apts. 445 E 300 S Salt Lake City UT 84111 Not Indicated 32 Not Indicated Piccardy Apts. 115 S 300 E Salt Lake City UT 84111 Not Indicated 40 Not Indicated Pine Valley Townhomes I 287 N Oak Ridge Ct Washington UT 84780 No 2001 2002 New Construction 50 50 70 % present value No Pine Valley Townhomes Ii 1209 E Oak Grove Dr Washington UT 84780 No 2003 2003 New Construction 66 66 70 % present value No Pine Valley Townhomes Iii 1209 E Oak Grove Dr Washington UT 84780 No 2004 2004 New Construction 32 32 70 % present value No Pittsburgh House Lofts 950 S 200 W Salt Lake City UT 84101 No 2004 2005 New Construction 12 14 70 % present value No Red Cliff Manor 1768 E 280 N Saint George UT 84790 No 1998 1999 New Construction 98 98 70 % present value No Remington Park Retirement 495 W Utah Ave Tooele UT 84074 No 1998 2000 New Construction 72 72 Both 30% and 70% No Renee Ann 6325 W 25 N Hurricane UT 84737 No 1997 1997 New Construction 23 21 70 % present value No Ridge At Jordan Landing 3818 Castle Pines Way West Jordan UT 84084 No 2000 2000 New Construction 264 264 30 % present value Yes Ridgeland Apts. 2685 Ridgeland Park Dr West Valley City UT 84119 Not Indicated 64 Not Indicated Ridgeview Apts. 520 Kane Creek Blvd Moab UT 84532 Yes 1994 1994 Not Indicated 6 6 Not Indicated No Ridgeview Apts. 710 N Washington Blvd North Ogden UT 84404 Not Indicated 78 Not Indicated Rim Hill Crown 1256 Madison Way Moab UT 84532 No 2003 2004 New Construction 8 8 70 % present value No Rio Grande Hotel 428 W 300 S Salt Lake City UT 84101 Yes 1993 1993 Not Indicated 49 49 Not Indicated No Ritz 435 E South Temple Salt Lake City UT 84111 No 2005 2005 Acquisition And Rehab 30 30 Both 30% and 70% No River Park Senior Housing I 784 Riverwalk Pkwy Logan UT 84321 Not Indicated 22 Not Indicated River Park Senior Housing Ii 784 Riverwalk Pkwy Logan UT 84321 Not Indicated 18 Not Indicated River Pointe Apts. 875 Meadowbrook Expy Salt Lake City UT 84123 No 1994 1994 Not Indicated 93 81 Not Indicated No Riverside Cove Apts. 558 N Redwood Rd Salt Lake City UT 84116 No 1993 1993 Not Indicated 28 28 Not Indicated No Riverview Apartments 525 Park Blvd Ogden UT 84401 No 2000 2000 Acquisition And Rehab 168 168 30 % present value Yes Riverview Townhomes 1665 Riverside Dr Salt Lake City UT 84104 Not Indicated 61 Not Indicated Riverwood Cove Apts. 582 N Riverside Dr Salt Lake City UT 84116 Yes 1992 1992 Not Indicated 110 110 Not Indicated No Riviera Palms 179 S 2700 E Saint George UT 84790 No 1999 2000 New Construction 42 42 70 % present value No Robert A Willey Apts. 543 S 400 E Salt Lake City UT 84111 Not Indicated 7 Not Indicated Roscrea Apts. 1680 E 300 S Price UT 84501 No 1999 2000 New Construction 48 48 70 % present value No Roselane Apts. 105 S Fairfield Rd Layton UT 84041 No 1994 1994 Not Indicated 64 64 Not Indicated No Royal Hotel 2522 Wall Ave Ogden UT 84401 Yes 1994 1994 Not Indicated 22 22 Not Indicated No Safe Haven I 550 W 700 S Salt Lake City UT 84101 Not Indicated 25 Not Indicated Safe Haven Ii 556 W 700 S Salt Lake City UT 84101 Yes 2002 2003 New Construction 24 20 70 % present value No Sage Valley Estate Crown 1108 Holyoak Ln Moab UT 84532 Not Indicated 8 Not Indicated Sedona 562 W 200 N Salt Lake City UT 84116 Not Indicated 16 Not Indicated Sierra Pointe I 1503 N 2100 W Saint George UT 84770 Not Indicated 109 Not Indicated Sierra Pointe Ii 2181 W 1575 N Saint George UT 84770 Not Indicated 59 Not Indicated Silver Meadows Estates 1935 Cooke Dr Park City UT 84060 Not Indicated 14 Not Indicated Silver Pines Senior 735 E 11000 S Sandy UT 84094 No 1999 2001 New Construction 144 100 70 % present value No Smith Apts. 228 S 300 E Salt Lake City UT 84111 Not Indicated Not Indicated Snow Project Crown 655 W 200 N Roosevelt UT 84066 No 1994 1994 Not Indicated 2 2 Not Indicated No Sodo Lofts 938 Washington St Salt Lake City UT 84101 Not Indicated 18 Not Indicated Somerset Gardens Apts. 143 N 400 W Tooele UT 84074 Not Indicated 28 Not Indicated Sophie Apts. 925 S 200 W Salt Lake City UT 84101 Yes 2002 2004 New Construction 25 25 70 % present value No Southgate I Apts. 609 S 300 W Cedar City UT 84720 No 1992 1992 Not Indicated 62 42 Not Indicated No Southgate Ii 468 S 75 W Cedar City UT 84720 No 1992 1992 Not Indicated 42 30 Not Indicated No Spring Hollow Apts. 1360 N 200 E Logan UT 84341 No 2007 $ 312,401 2007 Acquisition And Rehab 50 50 60% AMGI Both 30% and 70% No Springwood Apts. 1230 S 500 W Woods Cross UT 84010 No 2005 $ 394,546 2006 Acquisition And Rehab 144 144 60% AMGI 30 % present value Yes Ceiling 5

Placed Ceiling Credit Percentage St. Andrews Park Ii 4236 Old Miller Ct Kearns UT 84118 No 1992 1992 Not Indicated 9 13 Not Indicated No St. Benedict's Manor I 3000 Polk Ave Ogden UT 84403 No 2005 $ 542,047 2006 Acquisition And Rehab 100 100 60% AMGI Both 30% and 70% No St. Benedict's Manor Ii 1469 Darling St Ogden UT 84403 No 2006 $ 250,500 2007 Acquisition And Rehab 40 40 60% AMGI Both 30% and 70% No Stonecrest Pud 211 Crestone Ave Salt Lake City UT 84115 No 1994 1994 Not Indicated 16 16 Not Indicated No Stonehedge I Apts. 215 N Fairfield Rd Layton UT 84041 Not Indicated 48 Not Indicated Stonehedge Ii Apts. 221 N Fairfield Rd Layton UT 84041 Not Indicated 48 Not Indicated Stonehedge Iii Apts. 221 N Fairfield Rd Layton UT 84041 Not Indicated 60 Not Indicated Stoneridge Apts. 158 E 800 S Roosevelt UT 84066 Yes 2006 $ 205,370 2007 Acquisition And Rehab 48 48 60% AMGI Both 30% and 70% No Stoney Pointe Crown 580 N 230 W Hurricane UT 84737 Yes 2003 2004 New Construction 8 8 70 % present value No Stratford Hotel 169 E 200 S Salt Lake City UT 84111 No 2006 $ 362,609 2007 Acquisition And Rehab 46 46 60% AMGI Both 30% and 70% No Summit Mountain Crown 2 5179 Saddle Dr Oakley UT 84055 Yes 2003 2005 New Construction 8 8 70 % present value No Summit Mountain Crown 3 175 Bench Way Coalville UT 84017 Yes 2003 2005 New Construction 8 8 70 % present value No Summit Pointe Apts. 1710 W 360 N Saint George UT 84770 Not Indicated 70 Not Indicated Sun Ridge Apts. 277 S 1000 E Saint George UT 84770 No 1993 1993 Not Indicated 52 52 Not Indicated No Sunrise Metro Apts. 580 S 500 W Salt Lake City UT 84101 No 2006 $ 793,843 2007 New Construction 100 100 60% AMGI 70 % present value No Sunset Ridge Apartments 5503 W 9000 S West Jordan UT 84081 No 2004 2003 New Construction 240 240 30 % present value Yes Sunset Ridge Village I 1435 S 800 W Cedar City UT 84720 No 2000 2000 New Construction 50 50 70 % present value No Sunset Ridge Village Ii 1435 S 800 W Cedar City UT 84720 No 2001 2001 New Construction 34 34 70 % present value No Sunset Ridge Village Iii 1435 S 800 W Cedar City UT 84720 No 2002 2002 New Construction 34 34 70 % present value No T.l.c. - West 505 E Lagoon St Roosevelt UT 84066 No 2004 2005 New Construction 8 8 70 % present value No Tamlyn Apts. 1121 Sullivan Rd Ogden UT 84403 No 2005 $ 100,000 2006 Acquisition And Rehab 35 35 60% AMGI Both 30% and 70% No Taylor Springs Apts. 1812 S West Temple Salt Lake City UT 84115 Not Indicated 95 Not Indicated The Critchlow 322 E 300 S Salt Lake City UT 84111 No 1998 1998 New Construction 36 36 70 % present value No The Springs 1336 W 800 S Logan UT 84321 No 2006 $ 943,500 2007 New Construction 64 64 60% AMGI 70 % present value No The Springs At Logan River 1721 S 1150 W Logan UT 84321 Not Indicated 60 Not Indicated The Springs At Logan River Ii 1720 S 1150 W Logan UT 84321 Not Indicated 64 Not Indicated Timbergate Apts. 5401 W 11800 S Herriman UT 84096 Not Indicated Not Indicated Tlc East 1026 S 500 W Vernal UT 84078 No 2004 2005 New Construction 8 8 70 % present value No Tlc East 1026 S 500 W Vernal UT 84078 Not Indicated 8 Not Indicated Tlc West 505 E Lagoon St Roosevelt UT 84066 Not Indicated 8 Not Indicated Todd Hollow At Deer Mountain 12774 Deer Mountain Blvd Hideout UT 84036 No 2002 2002 New Construction 184 74 30 % present value Yes Tooele Gateway I 232 Fenwick Ln Tooele UT 84074 No 2001 2001 New Construction 72 72 30 % present value Yes Tooele Gateway Ii 232 Fenwick Ln Tooele UT 84074 No 2002 2003 New Construction 88 58 70 % present value No Towne Gate Apts. 1450 S West Temple Salt Lake City UT 84115 No 2005 $ 938,220 2007 New Construction 288 288 60% AMGI 70 % present value Yes Tremonton Village Apts. 730 W 960 S Tremonton UT 84337 Yes 1998 1998 Acquisition And Rehab 24 24 Both 30% and 70% No Trenton Apartments 544 E 100 S Salt Lake City UT 84102 No 1987 2004 Acquisition And Rehab 37 37 Both 30% and 70% No Trolley Lane & Lincoln Arms 518 E 600 S Salt Lake City UT 84102 No 2000 2002 Acquisition And Rehab 33 33 Both 30% and 70% No Turnquist Cottages 45 W 100 N Elmo UT 84521 No 2001 2002 New Construction 14 14 70 % present value No Tuscany Cove Apts. 3856 W 3500 S West Valley City UT 84120 No 2005 2004 Acquisition And Rehab 252 252 30 % present value Yes Unity Place 550 S 500 E Vernal UT 84078 Not Indicated 22 Not Indicated University Villa 672 E Lagoon St Roosevelt UT 84066 Not Indicated 4 Not Indicated Valencia 461 27th St Ogden UT 84401 No 2003 2004 Acquisition And Rehab 122 122 Both 30% and 70% No Valley Horizons 3133 S 3600 W West Valley City UT 84119 Yes 1999 2001 New Construction 20 20 70 % present value No Valley Meadows 582 Shay Ln Stansbury Park UT 84074 Yes 1997 1999 New Construction 40 40 70 % present value No Valley Woods 3610 S 1000 W Salt Lake City UT 84119 No 1996 1996 New Construction 42 41 70 % present value No Victoria Ridge Retirement 1024 Childs Ave Ogden UT 84404 No 2005 $ 370,300 2006 New Construction 48 48 60% AMGI 70 % present value No Villa Charmant 3837 S 300 E Salt Lake City UT 84115 No 2004 2004 Acquisition And Rehab 54 54 30 % present value Yes Villa South Apts. 3757 Grant Ave South Ogden UT 84405 No 2003 2004 Acquisition And Rehab 120 120 Both 30% and 70% No Village Square Retirement 545 Jefferson Ave North Ogden UT 84404 Not Indicated 80 Not Indicated Villas At Vine Street 801 E Vine St Murray UT 84107 No 1998 1998 Acquisition And Rehab 102 102 Both 30% and 70% Yes Washington Mill 240-270 Daly Avenue Park City UT 84060 Not Indicated 8 Not Indicated Washington Park Apts. 170 N Washington Blvd North Ogden UT 84404 No 1997 1999 New Construction 84 90 30 % present value No Wendell Apts. 204 W 200 N Salt Lake City UT 84103 Yes 2000 2001 Acquisition And Rehab 32 32 Both 30% and 70% No West Valley Sr. Apartments 3125 S 3600 W West Valley City UT 84119 No 1996 1996 New Construction 96 48 70 % present value No 6

Placed Credit Percentage Westgate Apartments (slc) 264 Foss St Salt Lake City UT 84104 No 2002 2002 Acquisition And Rehab 60 60 Both 30% and 70% No Westgate Apts. 264 Foss St Salt Lake City UT 84104 Not Indicated 60 Not Indicated Westgate Apts. Provo 1187 W 200 N Provo UT 84601 Not Indicated 8 Not Indicated Westgate Ii 273 Foss St Salt Lake City UT 84104 No 2003 2004 New Construction 36 32 70 % present value No Westland Cove 2560 Mockingbird Way West Valley City UT 84119 No 1997 1999 New Construction 40 40 70 % present value No Westland Cove 3450 South 2600 West West Valley City UT 84119 No 1998 1998 New Construction 42 20 70 % present value No Wilford Apts. 932 S 200 W Salt Lake City UT 84101 No 2001 2001 New Construction 14 14 70 % present value No Willow Creek Apts. Iv 6330 Dixie Dr West Jordan UT 84084 Not Indicated 13 Not Indicated Willow Creek Apts. V 236 W Plum St Grantsville UT 84029 Not Indicated 8 Not Indicated Willow Park Apts. 3363 W 3800 S West Valley City UT 84119 Yes 2002 2004 New Construction 88 88 70 % present value No Willowwood Apts. 409 W 300 S Logan UT 84321 Not Indicated 4 Not Indicated Wolfson West Apts. 936 S 200 W Salt Lake City UT 84101 No 2002 2003 New Construction 14 14 70 % present value No Woodside Apts. 635 E 300 S Price UT 84501 Not Indicated 48 Not Indicated Zion Way Apts. 370 N 600 E Richfield UT 84701 No 1999 2000 New Construction 22 21 30 % present value No Ceiling 284 Projects Reported $ 9,098,943 17,248 11,472 7