Track Record

Mortgage Bond Financings by American Investors Group, Inc.

The purpose of this summary is to provide information on the prior performance of the first mortgage church financing programs underwritten by American Investors Group, Inc., since its inception in 1987.

Material factors common to all of the church bond financing projects listed below include:

• Secured by first mortgages with loan-to-value ratios of 75% or less, based on written appraisals issued by a Member of the Appraisal Institute ("MAI") or a state-certified appraiser.
• Fixed interest rate loans with level or limited graduated payments.
• ALTA or equivalent mortgagee title insurance policy required.
• Borrower's total long-term debt (including the financing) limited to a multiple of four (4) times gross income for its most recent 12 months.
• Borrower required to furnish audited financial statements for its most recent complete fiscal year, and reviewed or compiled financial statements for the two complete fiscal years prior to the most recent and, on a comparative basis, for the current period within 90 days of the financing date.
• A security interest in all personal property of the borrower is required.
• Key-man life insurance and automatic weekly loan payments are required.

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