Vanguard Funding Corporation

RE: Your Construction Fund Control Administration Program

Dear Gloria:

On behalf of Sam Fleck and I, we want to take this opportunity to thank you for your months of service to our company. We know the level of work put in daily by your office in managing the risks on all our new construction and manufactured home transactions. We will also be using your service for rehab projects over a certain dollar amount.

Your professionalism and willingness to help us create forms has assisted us in designing a better product. We understand the potential problems associated with these transactions and we trust and depend on you to mitigate that risk on our behalf. This gives our investors a great level of security in funding more loans.

After professional inspections are completed our projects can be viewed from our desktops through your website. This is extremely helpful in determining the progress of work, from beginning to end, and provides assurance that we are screening the right project by viewing the photos and reports tied together online. Our investors want no surprises. With your process and financial reports, which provide a detailed accounting of each project, it gives us the information we need to properly monitor our entire construction loan portfolio. Also, by providing ConstructSure’s impartial Third Party Certificate of Completion, at the end of each project, we have something to show that our projects have been successfully completed and the after value determined at the front end by our appraiser is in tact.

Thank you again. We look forward to a fantastic year of growth and opportunity to make more loans while your company watches out for us.

Sincerely,

Dan Allee
President

Indianapolis, IN

Re: National City Bank Letter of Intent

Dear Larry,

This letter will serve to confirm National City Bank’s intention to use a modified version of ConstructSure’s Performance Bonded Fund Control Program for its new Construction Equity product, scheduled to roll out April 1, 2004. We are excited to work with you and your staff, and appreciate the flexibility in working within our system and regulatory requirements. We know this will be a successful initiative because of your experience and expertise.

As you know, we have completed the steps to gain product, budget and corporate credit approval, and now are working on the operational details and legal requirements in order to have a successful launch. It is time to finalize the flow between National City and ConstructSure and document the expectations for each of us.

Again, I appreciate the patience in getting to this phase. We know our success will be assured because of your help, and look forward to a long and prosperous relationship.

Sincerely,

Susan Dehner Kucer
Senior Vice President

B. NEWTON CONSTRUCTION
Apple Valley, CA

Dear Gloria:

I am happy to be writing this letter at your request. I have to admit when we first heard about CS through Vanguard Funding Corporation; I never thought I would be doing this. I was quite resistant at first in using your fund control service. After going through the process with CS on several loans, I have since changed my mind.

As you know I am a homebuilder operating out of Apple Valley, CA. We have had a booming market and are in the process of building several homes under contract with a number of investor/borrowers.

Your company is responsive to our needs, provides clear reports, allowing us to verify our request for funds against your records, and your inspectors are timely and professional. It is a “no hassle” method of controlling our jobs. If you are the future system for managing construction loans for lenders, my company is on board with you.

Thank you for your hard work. We appreciate the service.

Sincerely,

Bernie Newton

Smiles Dental Studio
Sacramento, CA

I am very pleased to write a letter of recommendation for Gloria Manchester. I met Gloria during the construction of my dental office project. Her company, ConstructSure, was the disbursement agent for my Banco Popular SBA loan.

Gloria has been a very sincere and absolutely wonderful resource throughout this project. She worked tirelessly and helped out tremendously when I had problems with my general contractor. She went above and beyond the call of her job to help me out. He tried to take advantage of me because of my lack of knowledge about the details associated with construction. I have gained an enormous amount of knowledge by working with her and the way she handled this conflict. She demonstrated excellent management, conflict resolution, communication, and leadership skills while handling the disbursement process for Banco Popular.

I strongly recommend ConstructSure and Gloria Manchester because of her dedication to her work. She is very sincere, experienced, knowledgeable, and a terrific professional. If you’d like to hear more good things about Gloria, please don’t hesitate to call me during normal business hours at (916) 575-7536. My project is almost complete, in so many ways thanks to ConstructSure’s construction risk management service.

Sincerely,

Neelofar Khan, DDS