Monroe & Giordano



Claffy Consulting & Business Services

Tavares, Florida

352-406-9925

beckyclaffy@

Your Commercial Loan Consultant: BECKY CLAFFY cell: 352-406-9925

Dear Client:

By answering the following questions and providing the information requested, you will provide us with a strong foundation in order to pursue your request. The information will be used to analyze and underwrite your loan preliminarily in order to establish the probable rates and structure of your particular request. The information you provide will be used to:

1) Identify the best lending resources for your loan.

2) Provide preliminary information to lenders so that the best pricing and terms can be located.

At the end of this questionnaire, please find a checklist for the financial documents that will be necessary for a proper analysis. If you wish your consultant will be happy to coordinate the receipt of all documents through your accountant and/or bookkeeper.

We appreciate this important opportunity to provide you with our consulting services. Please contact us at any time with questions and concerns.

Sincerely,

Becky J Claffy

CLAFFY CONSULTING and Business Services, LLC.

Self-Storage Questionnaire and Checklist

Purpose of financing: _______________________________________________

Acquisition: __________ Refinance: __________ Loan Dollars Requested: ___________

Project Information:

Project Name: __________________________________________________________________

Address (include zip code): ______________________________________________________

Is the facility in a high risk flood plain: _____________________________________________

Is there a management company? __________ If so please provide name and website: ___________________________

Do you have oil and gasoline tanks on the property? __________________________

Age of Project: ____________________

Gross Square Feet: ____________________

Rentable Square Feet: ____________________

Estimated Frontage: ____________________

Estimated Traffic: ____________________

Count/Day: ____________________

Number of Floors: ____________________

Number of Elevators: ____________________

Number of Lifts: ____________________

Number of Buildings: ____________________

Total # of Units: ____________________

Total Inside: ____________________

Total Outside: ____________________

Total Upstairs: ____________________

Total Downstairs: ____________________

Average Unit Sq. Ft.: ____________________

Lot Size: ____________________

Current Occupancy: ____________________% Physical

____________________% Economic

Last Year Occupancy: ____________________% Physical

____________________% Economic

Year Before Last Occ.: ____________________% Physical

____________________% Economic

Unit Breakdowns:

Please provide the following information on all units (as separate attachment)

Size_____________ Total # of units in size category __________ ___ occupancy ___________

# of Units climate controlled _______ and rate ____________ occupancy ______________

# of Units non-climate controlled _______ and rate ____________ occupancy _____________

What is the overall average rent: ________________________________________________

Does the facility have space for RV, Boat or other storage? _____________________________

If so, please provide attachment providing # of spaces, rates and occupancy in an attachment.

Do tenants sign leases: __________ Term of lease: ___________________________________

When are rents expected to increase next: ____________________ How much:____________

Are there any rent concessions: __________ If so, please explain: _______________________

______________________________________________________________________________

When and how much were the historical rent increases for the last 5 years: _______________

Do the rent increases go into effect on the leases anniversary dates or at a specified date:

______________________________________________________________________________

What is the overall market vacancy: _______________________________________________

Number of tenants that are 60 days or more delinquent in their lease payments 4 or more

times during the last 12 months: __________________________________________________

Percent of tenants who pay in cash: ________________________________________________

Is this facility in lease up or expanding: (Please explain) _______________________________

What type of construction was used for the facility: Masonry, Metal, Concrete Tiltup,

Other:________________________________________________________________________

List any capital improvements made to the property in the previous 3 years:

|Year |Improvement |$ Amount |

| | | |

| | | |

| | | |

Facility Features:

Electronic Gate: _____ Electronic Gate with Payment System: ___

Alarmed Units: _____ Climate controlled ____________________

Climate Control: _____ On Site Mngr: __________

Motion Detector: _____ Computerized Bookkeeping: __________

Auto Fire Sprinklers: _____

Marketing/Advertising

Please give a brief explanation of marketing strategy and advertisements utilized:

__________________________________________________________________

Do you advertise in a telephone directory: __________ How many: _____________________

List all competitors within a 3 and 5 mile radius:

|`Property Name |Square Footage |# of Units |Average Rent |

| | | | |

| | | | |

| | | | |

| | | | |

BORROWER:

Name of Borrowing Entity: ______________________________________________________

Type of Entity: Individual _______Corporate_______ Partnership _______LLC_________

Is this a single asset entity: _____ If no, explain: ______________________________________

______________________________________________________________________________

What is the address of the Borrowing Entity: ________________________________________

Who are the principals (major stockholders, general partners, etc.):

________________________ _____ ______________________________________

Name % Address

_________________________ _____ _______________________________________

Name % Address

_________________________ _____ _______________________________________

Name % Address

_________________________ _____ _______________________________________

Name % Address

Does the facility have a resident manager: __________________________________________

Who is the on site manager: ______________________________________________________

Phone number: _________________________

Other:

Do you have a current appraisal: __________ If so, please provide the date of the report and

the company who prepared it. _________________________________________________

Prior Credit History:

Do the borrowers have a copy of a recent credit bureau report? _____________

If applicable, please provide an explanation of any derogatory consumer credit occurring in the past 7 years. ______________________________________________________________________________

____________________________________________________________________________

Have you been affiliated with an entity which has filed for bankruptcy in the past 7 years or provided a deed in lieu: ________ If yes, please explain using an attachment if necessary. _____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

Existing Project Debt:

What is the current debt on the project: ____________________________________________

To whom: _____________________________________________________________________

Monthly payments: _____________________________________________________________

What is the current note due date: _________________________________________________

Do you have a current market survey:_______________ If so, please attach.

Do you have an environmental report? ______________ If so, please provide the date and the

company who prepared it: _____________________________________________________

Certification: I hereby certify that the above is true and correct to the best of my knowledge. Monroe & Giordano may be paid for servicing the loan by the lender. I also agree to give Monroe & Giordano, LLC the exclusive right to present this submission to all their lenders, except for the following lenders:

Please sign in the space provided below:

__________________________________ Date:_________

Documents Required: The following list are items that will allow an initial analysis of your loan request.

Checklist: Please provide the following as soon as possible:

1. Year End Income & Expense Statements with corresponding balance sheets for the last three years.

2. The most recent YTD (current year) Income & Expense Statement with corresponding balance sheet.

3. Trailing 12 months income and expenses broken down by month with monthly occupancy rates.

4. The operating budget for next year.

5. Current Rent Roll with current PSF, Lease Termination Dates, Sales, Cam etc.

6. Any known increases in income or expenses pending not included in budget.

7. Pictures and brochure showing current pricing.

8. Copy of Appraisal (if Available). Even if the appraisal is old, it provides a wealth of initial information. Generally, a new appraisal will be required or the existing appraisal recertified.

9. Borrower and/or Principal Financial Statements (signed and dated within 90 days.)

10. Borrower and/or Principal Resume of experience. Lenders are looking for a borrower history which might show management abilities and information on the performance of other parks owned now or in the past.

11. If purchasing, please provide a prospectus of property and projected cash flows based on “proposed changes” (if applicable).

12. Copy of Executed Sales Contract (If Applicable).

**Please note: Additional items, such as historical tax returns, will be necessary for documentation prior to submitting to the lender.

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