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200000
200000
22900000
19300000
-24800000
-13900000
300000
100000
-1900000
-1200000
-1600000
-1100000
1634410
-3127093
-185461
2602500
2602500
2602500
500000
22400000
1700000
119421666
4994166
112740000
1687500
19000000
-0.030
-0.026
0.002
4900000
5500000
5200000
18900000
1000000
3800000
46585800
3800000
10773141
42800000
30000000
5812659
43713459
10000000
4789815
23200000
19000000
1500000
3671515
19000000
6252129
6501079
6500000
6501079
45667834
41498016
-2814645
46585800
24713459
6501079
46585800
24713459
6501079
400000
76300000
1000000
469000000
475000000
500000000
5300000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following is a summary of the underlying credit rating of our available-for-sale debt securities at December 31, 2014 and 2013: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:38.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:03.62%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:40.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:03.62%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Rating(1) </font></p>
</td>
<td valign="bottom" style="width:01.10%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:05.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"># </font></p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:19.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amortized</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cost </font></p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Percent</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">of Total </font></p>
</td>
<td valign="bottom" style="width:03.62%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:05.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"># </font></p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:21.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amortized</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cost </font></p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Percent</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">of Total </font></p>
</td>
<td valign="bottom" style="width:03.62%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">AA+</font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:17.38%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.34%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:19.54%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>93,715
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CCC</font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:17.38%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.34%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.54%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,417,402
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>51
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CCC–</font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.36%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:17.38%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:03.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.34%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.54%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6
</td>
<td valign="bottom" style="width:03.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">NR</font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:17.38%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.34%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.54%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,538,193
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>43
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:17.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:19.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.36%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:17.38%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:03.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.34%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>11
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:19.54%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,149,310
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:03.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:17.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:19.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:17.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:19.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Based on the rating published by Standard & Poor's for each security. NR stands for "not rated." </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
41113690
2100000
39013690
2100000
2100000
25300000
11
7
1
2
1
2
1
1
1.00
0.43
0.06
0.51
1.00
1.00
30000000
15536049
18944735
2500000
203760597
1300000
750000
450000
45705813
46774000
21800000
55000000
1300000
232015236
1300000
128593000
58000000
45422236
3
179466954
240503823
187213841
607184618
180691292
147049346
106139494
433880132
500000
264500000
264500000
266436250
264500000
458250000
458250000
458250000
459673750
459673750
459673750
458250000
3
2000000
26700
3.3
3.7
3.3
3.0
3.8
4.0
3.2
2.5
3.1
2.9
3.5
3.5
3.9
3.3
2.5
3.4938
2.7485
3.1335
1.6715
1.0780
1.3787
1.4296
1.4689
1.8435
1.0874
1.3815
1.4296
1.4689
1.7101
1.0920
1.5344
1.4296
1.3333
1.4689
1.7333
1.1065
1.6120
1.4296
1.3333
1.4689
1.1134
1.3333
1.4689
0.75
0.75
0.75
0.70
16600000
16000000
10000000
2
2
3
P2Y
P2Y
P2Y6M
4
9
10
2
2
3
2
23
3
1.12
0.12
P2Y
P1Y
P1Y
P1Y
P60D
P90D
P60D
87500000
167900000
1300000
P24M
P24M
0.0083
0.0107
0.0435
0.0300
0.0357
0.0326
0.0349
0.0318
0.0307
0.0306
0.0526
0.0314
0.0318
18662363
16781950
1880413
77100000
77100000
5630472
7742286
1585723
3541807
5534018
5279854
14200000
9600000
-500000
92600000
14500000
8600000
15000000
1
7
2
1200000
1.00
1.00
1.00
1.00
1.00
1.00
1.00
20326030
32972606
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Note 16—Due to Borrowers </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Due to borrowers represents borrowers' funds held by us to fund certain expenditures or to be released at our discretion upon the occurrence of certain pre-specified events, and to serve as additional collateral for borrowers' loans. While retained, these balances earn interest in accordance with the specific loan terms they are associated with. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
505093
585143
265800000
258400000
114100000
0.50
0.1909
0.50
2
0.0463
0.10
0.0144
0.50
13101000
22552000
22283000
23345000
26793000
118882000
118164000
119713000
36315000
2000000
36061000
1300000
33033000
813000
478000
259000
698000
204000
-249000
734693000
691488000
60257000
58265000
59266000
8619000
5709000
4168000
19618000
19169000
27000
493000
621000
6436000
6686000
7993000
19607000
22653000
697484000
639813000
5427000
6653000
6501000
80472000
85551000
89192000
1700000
0.90
0.80
0
0
2
1
1
1
0
0
14592666
6192666
8400000
34750000
14592666
6192666
8400000
35000000
0.0727
0.0596
0.0824
0.0295
0.0727
0.0596
0.0824
0.0195
1
32000000
32000000
765799
765799
4
1
52500000
35000000
0
0
0.17
0.56
0.58
0.00
0.17
0.60
0.41
0.14
0.03
0.26
0.03
0.32
0.00
0.13
0.47
0.62
0.00
0.13
0.86
0.10
0.63
0.32
0.06
0.29
0.72
14100000
55
734000000
3500000
58100000
55400000
8
0
240200000
5500000
43400000
207471246
65186623
23200000
25000000
5900000
112810558
29474065
221602399
11900000
39232710
34249959
117621457
30498273
94600000
31500000
151900000
4
6
0.0960
10
20
15
10
1000000
300000
250000
-14174308
3546103
16572440
4284120
4005678
4736539
7425643
24450552
5462763
7466286
4095860
1.0560
1.2000
1.2000
5
4.5
4
3.5
3
5
1
0.0089
0.0089
LIBOR
LIBOR
P1Y
P1Y
115000000
P6Y
P6Y
11540649
2904057
11000000
0.0429
0.0180
0.77
0.83
0.79
0.76
0.77
0.81
0.93
0.65
0.75
0.49
0.84
0.88
0.82
0.63
0.76
0.81
0.84
0.74
0.76
0.88
0.94
0.73
0.67
0.83
0.88
0.79
0.80
0.01
5000000
20000000
20000000
20000000
1302440660
1325667053
1523699653
1459475650
64323526
129663864
1218667470
46820790
1044546910
174120560
51746925
89957756
798144788
1700000
31050000
31353725
4972417
72022619
9418268
1983691
143025778
46820790
3158333
14500000
39600000
34000000
2
1
600000
P1Y
0.0025
0.0025
0.1200
0.0250
0.0021
0.0026
0.0015
0.0015
0.0150
0.0024
0.0024
0.0100
3
70100000
0
47
55
16
18
10
1
17
100
2
26
139000000
10000000
10900000
9900000
0.035
0
0
0
19000000
0.25
0.095
P3Y
10.00
0.60
P1Y
10000000
P6M
P10Y
3100000
2800000
2700000
2794627
5385999
4976577
10500000
500000
10500000
25000000
25000000
300000
2.3
20.5
210000000
237194618
365236505
312859875
113940857
253989391
915290998
367930248
307300000
174460160
171457394
143824571
313932084
251658406
489742125
565590490
LIBOR
LIBOR
34800000
0.1300
0.12
0.0236
7271166
322926
907052
0.0165
0.0500
13889148
54261753
26558929
1.00
0.07
0.07
0.71
1.000
0.15
0.009
0.644
0.015
0.042
0.070
0.216
0.004
1.00
0.05
0.08
0.80
1.000
0.07
0.729
0.001
0.042
0.081
0.145
0.002
60
284758473
395783494
362150693
114414154
255016564
1042692660
369430718
222903486
202758120
192522685
315390280
252353210
618184291
567743490
34000000
17945000
4424097
19000000
P23M15D
P58M6D
P45M15D
P18M15D
P19M18D
P22M9D
P37M3D
P45M15D
P19M24D
P12M9D
67600000
1905977
5884655
3224868
46585800
24713459
6501079
11005354
23800000
9119221
27200000
1886133
42745650
53800000
42700000
11000000
21865136
31000000
21900000
53751004
52943305
30984357
30984357
29962066
29962066
29962066
11005354
900000
2200000
9300000
499400000
73300000
6000000
32000000
8
5
4
0
0
0
2
2
2
2
2
3
3
1
2
2
6000000
7500000
5
5
169200000
213100000
1.0560
1.3233
1.4425
0.05
261875190
594127146
908769736
2632845
858750
2602500
91346499
165385926
59613649
100000
100000
600000
100000
0.92
0.225
0.15
P5Y
400000
1000000
266664
203438
266664
203438
159375
1260000
1551500
1400000
1200000
900000
900000
30338961
37315694
30338961
30338961
37315694
37315694
21641250
21641250
21641250
19000000
19000000
50000000
67700000
87500000
177000000
281250000
43900000
-185675195
1600000
-378738674
-987700535
9600000
4400000
P7Y6M
0.0475
23828224
6500000
9026712
P1Y
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Real Estate Owned and Held-For-Sale </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Real estate owned, shown net of accumulated depreciation and impairment charges, is comprised of real property acquired by foreclosure or through partial or full settlement of mortgage debt. Real estate acquired is recorded at its estimated fair value at the time of acquisition. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Costs incurred in connection with the foreclosure of the properties collateralizing the real estate loans are expensed as incurred and costs subsequently incurred to extend the life or improve the assets subsequent to foreclosure are capitalized. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We allocate the purchase price of our operating properties to land, building, tenant improvements, deferred lease costs for the origination of the in-place leases, intangibles for the value of the above or below market leases at fair value and to any other identified intangible assets or liabilities. We finalize our purchase price allocation on these assets within one year of the acquisition date. We amortize the value allocated to the in-place leases over the remaining lease term. The value allocated to the above or below market leases are amortized over the remaining lease term as an adjustment to rental income. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Real estate assets are depreciated using the straight-line method over their estimated useful lives. Ordinary repairs and maintenance which are not reimbursed by the tenants are expensed as incurred. Major replacements and betterments which improve or extend the life of the asset are capitalized and depreciated over their estimated useful life. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Our properties are individually reviewed for impairment each quarter, if events or circumstances change indicating that the carrying amount of the assets may not be recoverable. We recognize impairment if the undiscounted estimated cash flows to be generated by the assets are less than the carrying amount of those assets. Measurement of impairment is based upon the estimated fair value of the asset. In the evaluation of a property for impairment, many factors are considered, including estimated current and expected operating cash flows from the property during the projected holding period, costs necessary to extend the life or improve the asset, expected capitalization rates, projected stabilized net operating income, selling costs, and the ability to hold and dispose of such real estate owned in the ordinary course of business. Impairment charges may be necessary in the event discount rates, capitalization rates, lease-up periods, future economic conditions, and other relevant factors vary significantly from those assumed in valuing the property. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Real estate is classified as held-for-sale when management commits to a plan of sale, the asset is available for immediate sale, there is an active program to locate a buyer, and it is probable the sale will be completed within one year. Real estate assets that are expected to be disposed of are valued, on an individual asset basis, at the lower of their carrying amount or their fair value less costs to sell. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We recognize sales of real estate properties upon closing. Payments received from purchasers prior to closing are recorded as deposits. Gain on real estate sold is recognized using the full accrual method when the collectability of the sale price is reasonably assured and we are not obligated to perform significant activities after the sale. Gain may be deferred in whole or in part until collectability of the sales price is reasonably assured and the earnings process is complete. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
6
5
3
4
86
79
76
0.85
0.48
0.85
0.48
0.90
0.51
41
38
39
-80645124
-175181262
-66027912
6000000
2418528
85100000
33438472
42300000
0.066
0.19
0.24
0.95
0.95
5100000
7500000
53000000
6400000
2000000
15000000
3000000
5100000
14600000
22400000
30400000
5000000
30000000
1100000
6
2
2
0.50
0.11
5300000
41440000
-87500000
34000000
1175120
33438472
34000000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:36.56%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:61.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, </font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:36.56%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Management Fees: </font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:18.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:20.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:20.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2012 </font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:36.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Base(1)</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,900,000
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:18.42%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,900,000
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:18.42%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,000,000
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:36.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Incentive(2)</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:16.38%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:18.42%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:18.42%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">— </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:36.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:36.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total management fee</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,900,000
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:18.42%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,900,000
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:18.42%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,000,000
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:36.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:36.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Included in base management fees at December 31, 2014, 2013 and 2012 was $2.7 million, $2.8 million and $3.1 million, respectively, which was included in due to related party. These amounts are paid in the quarters subsequent to each respective year end. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">During the third quarter of 2014, we recognized a $19.0 million prepaid incentive management fee related to the recognition of deferred revenue. See below for further details. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:00.64%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:47.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended </font></p>
</td>
<td valign="bottom" style="width:03.00%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.64%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:02.14%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:14.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:03.00%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:14.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2012 </font></p>
</td>
<td valign="bottom" style="width:03.00%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Charge-offs:</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,501,079
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(4,789,815
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(10,773,141
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Office</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,252,129
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(5,812,659
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Land</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(19,000,000
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Hotel</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3,671,515
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(30,000,000
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Condo</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(10,000,000
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">— </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,501,079
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(43,713,459
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(46,585,800
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Recoveries:</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(7,815,724
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,510,949
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(121,898
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Office</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,500,000
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(704,494
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(796,068
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(9,315,724
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,215,443
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(917,966
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net Recoveries (Charge-offs)</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,814,645
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(41,498,016
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(45,667,834
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Ratio of net charge-offs during the period to average loans and investments outstanding during the period</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.2
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2.6
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)%</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3.0
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:25.16%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Determination Date </font></p>
</td>
<td valign="bottom" style="width:00.96%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">CDO I </font></p>
</td>
<td valign="bottom" style="width:03.22%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">CDO II </font></p>
</td>
<td valign="bottom" style="width:03.22%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">CDO III </font></p>
</td>
<td valign="bottom" style="width:03.22%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">CLO II </font></p>
</td>
<td valign="bottom" style="width:03.22%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">CLO III </font></p>
</td>
<td valign="bottom" style="width:03.22%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:25.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">January 2015(1)</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>111.34
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>146.89
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>133.33
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:25.16%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">October 2014</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>173.33
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>161.20
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>110.65
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>146.89
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>133.33
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:25.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">July 2014</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>171.01
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>153.44
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>109.20
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>146.89
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>133.33
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:25.16%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">April 2014</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>184.35
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>138.15
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>108.74
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>146.89
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:25.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">January 2014</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>167.15
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>137.87
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>107.80
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>146.89
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">CLO I was redeemed in December 2014 and CDO I and CDO II were redeemed in January 2015. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The condensed combined balance sheets for our unconsolidated investments in equity affiliates accounted for under the equity method at December 31, 2014 and 2013 are as follows (in thousands): </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:01.22%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:38.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, </font></p>
</td>
<td valign="bottom" style="width:01.64%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Condensed Combined Balance Sheets </font></p>
</td>
<td valign="bottom" style="width:01.22%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:18.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:01.64%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:18.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:01.64%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Assets:</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Cash and cash equivalents</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>22,552
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,101
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Real estate assets</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>639,813
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>697,484
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Other assets</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19,169
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19,618
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Total assets</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>681,534
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>730,203
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Liabilities:</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Notes payable</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>691,488
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>734,693
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Other liabilities</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>22,653
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19,607
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total liabilities</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>714,141
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>754,300
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Stockholders' equity Arbor(1)</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,291
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,102
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Stockholders' deficit</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(36,898
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(28,199
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total stockholders' deficit</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(32,607
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(24,097
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Total liabilities and deficit</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>681,534
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>730,203
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Combined with $0.6 million of equity relating to the issuance of junior subordinated notes, equals $4.9 million of investments in equity affiliates, at December 31, 2014. Combined with $0.6 million of equity relating to the issuance of junior subordinated notes, equals $4.7 million of investments in equity affiliates, at December 31, 2013. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The condensed combined statements of operations for our unconsolidated investments in equity affiliates accounted for under the equity method for the years ended December 31, 2014, 2013 and 2012, are as follows (in thousands): </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:00.98%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:46.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended </font></p>
</td>
<td valign="bottom" style="width:01.32%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Statements of Operations: </font></p>
</td>
<td valign="bottom" style="width:00.98%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:14.74%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:01.32%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:14.74%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:01.32%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:14.74%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2012 </font></p>
</td>
<td valign="bottom" style="width:01.32%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Revenue:</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Rental income</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>89,192
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>85,551
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>80,472
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Interest income</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>259
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>478
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>813
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Operating income</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,168
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,709
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,619
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Reimbursement income</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,501
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,653
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,427
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Other income</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,993
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,686
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,436
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total revenues</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>108,113
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>105,077
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>101,767
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Expenses:</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Operating expenses</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>59,266
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>58,265
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>60,257
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Interest expense</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>33,033
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,061
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,315
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Depreciation and amortization</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>26,793
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>23,345
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>22,283
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Other expenses</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>621
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>493
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total expenses</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>119,713
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>118,164
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>118,882
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Net loss</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(11,600
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(13,087
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(17,115
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Arbor's Share of income (loss)</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>249
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(204
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(698
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The chart below is a summary of our CDO and CLO compliance tests as of the most recent determination dates in January 2015: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:46.52%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cash Flow Triggers </font></p>
</td>
<td valign="bottom" style="width:01.14%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">CDO III </font></p>
</td>
<td valign="bottom" style="width:03.80%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">CLO II </font></p>
</td>
<td valign="bottom" style="width:03.80%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">CLO III </font></p>
</td>
<td valign="bottom" style="width:03.80%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:46.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Overcollateralization(1)</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:46.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Current</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>111.34
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>146.89
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>133.33
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:46.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Limit</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>105.60
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>144.25
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>132.33
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:46.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Pass / Fail</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">Pass</font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">Pass</font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">Pass</font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:46.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Interest Coverage(2)</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:46.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Current</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>349.38
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>313.35
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>274.85
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:46.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Limit</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>105.60
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>120.00
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>120.00
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:46.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Pass / Fail</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">Pass</font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">Pass</font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">Pass</font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">The overcollateralization ratio divides the total principal balance of all collateral in the CDO and CLO by the total principal balance of the bonds associated with the applicable ratio. To the extent an asset is considered a defaulted security, the asset's principal balance for purposes of the overcollateralization test is the lesser of the asset's market value or the principal balance of the defaulted asset multiplied by the asset's recovery rate which is determined by the rating agencies. Rating downgrades of CDO and CLO collateral will generally not have a direct impact on the principal balance of a CDO and CLO asset for purposes of calculating the CDO and CLO overcollateralization test unless the rating downgrade is below a significantly low threshold (e.g. CCC-) as defined in each CDO and CLO vehicle. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">The interest coverage ratio divides interest income by interest expense for the classes senior to those retained by us. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;"></font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:31.20%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:00.52%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:33.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:00.68%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:33.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:00.68%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:31.20%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.52%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Multifamily</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Portfolio </font></p>
</td>
<td valign="bottom" style="width:00.68%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.98%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Hotel</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Portfolio </font></p>
</td>
<td valign="bottom" style="width:00.68%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.98%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Total </font></p>
</td>
<td valign="bottom" style="width:00.68%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Multifamily</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Portfolio </font></p>
</td>
<td valign="bottom" style="width:00.68%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Hotel</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Portfolio </font></p>
</td>
<td valign="bottom" style="width:00.68%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Total </font></p>
</td>
<td valign="bottom" style="width:00.68%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:31.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Land</font></p>
</td>
<td valign="bottom" style="width:00.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:09.26%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,538,844
</td>
<td valign="bottom" style="width:00.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:09.94%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,393,651
</td>
<td valign="bottom" style="width:00.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:09.94%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,932,495
</td>
<td valign="bottom" style="width:00.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:09.26%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>11,382,579
</td>
<td valign="bottom" style="width:00.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:09.26%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,893,651
</td>
<td valign="bottom" style="width:00.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.30%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>22,276,230
</td>
<td valign="bottom" style="width:00.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:31.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Building and intangible assets</font></p>
</td>
<td valign="bottom" style="width:00.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.26%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>31,249,869
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.94%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>58,818,891
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.94%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>90,068,760
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.26%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,115,430
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.26%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>61,632,645
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.30%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>107,748,075
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:31.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Less:</font></p>
</td>
<td valign="bottom" style="width:00.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:31.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Accumulated depreciation and amortization</font></p>
</td>
<td valign="bottom" style="width:00.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.26%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(7,414,267
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.94%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(12,661,347
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.94%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(20,075,614
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.26%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(8,598,915
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.26%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(9,707,213
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.30%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(18,306,128
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:31.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:31.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Real estate owned, net</font></p>
</td>
<td valign="bottom" style="width:00.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:09.26%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,374,446
</td>
<td valign="bottom" style="width:00.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:09.94%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>55,551,195
</td>
<td valign="bottom" style="width:00.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:09.94%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>84,925,641
</td>
<td valign="bottom" style="width:00.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:09.26%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>48,899,094
</td>
<td valign="bottom" style="width:00.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:09.26%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>62,819,083
</td>
<td valign="bottom" style="width:00.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.30%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>111,718,177
</td>
<td valign="bottom" style="width:00.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:31.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:31.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.26%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="20" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">For Tax Purposes </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td rowspan="3" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" rowspan="3" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividend</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Classified</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">as Return of</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Capital </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" rowspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividend Classified as</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Ordinary Income </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" rowspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Capital Gain</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Distribution </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" rowspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Total</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividends</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Paid(1)</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">(in thousands) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividend</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Paid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Per Share </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Percent </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividend</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Paid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Per Share </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Qualified</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividend</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Income(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Percent </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividend</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Paid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Per Share </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Percent </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividend</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Paid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Per Share </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td colspan="16" valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Common Stock:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>26,030
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.520
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.520
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">2013</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,327
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.500
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.500
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">2012</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,031
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.285
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.285
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td colspan="16" valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;font-size:10pt;"></font><font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">8.25% Series A Preferred Stock:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,200
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.063
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.063
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">2013</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,667
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.719
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.719
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td colspan="16" valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;font-size:10pt;"></font><font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">7.75% Series B Preferred Stock:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,441
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.938
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.938
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">2013</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,370
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.087
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.087
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td colspan="16" valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;font-size:10pt;"></font><font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">8.50% Series C Preferred Stock:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,456
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.617
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.617
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">2013 is the initial year for the Series A and B preferred stock dividends. 2014 is the initial year for the Series C preferred stock dividend. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Qualified dividend income is eligible for reduced dividend rates. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
159125023
12497000
14425553
159125023
33300540
30838180
15063750
33000000
159125023
158735570
20000000
180386200
180386200
15000000
92520637
42975000
29890563
180386200
180386200
179964341
179964341
179964341
37600000
83000000
93800000
400000
700000
1500000
100000
800000
1000000
2000000
500000000
330400000
151500
60000
3700000
1500000
0.5000
150000000
150000000
150000000
2000000
400000
0.03
2000000000
2000000000
41440000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Note 9—Variable Interest Entities </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We have evaluated our loans and investments, mortgage related securities, investments in equity affiliates, senior unsecured notes, junior subordinated notes, CDOs and CLOs, in order to determine if they qualify as VIEs or as variable interests in VIEs. This evaluation resulted in determining that our bridge loans, junior participation loans, mezzanine loans, preferred equity investments, investments in equity affiliates, junior subordinated notes, CDOs, CLOs and investments in mortgage related securities are potential VIEs. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Our involvement with VIEs primarily affects our financial performance and cash flows through amounts recorded in interest income, interest expense, provision for loan losses and through activity associated with our derivative instruments. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Consolidated VIEs </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We consolidate our CDO and CLO subsidiaries, which qualify as VIEs, of which we are the primary beneficiary. These CDOs and CLOs invest in real estate and real estate-related securities and are financed by the issuance of CDO and CLO debt securities. We, or one of our affiliates, is named collateral manager, servicer, and special servicer for all CDO and CLO collateral assets which we believe gives us the power to direct the most significant economic activities of the entity. We also have exposure to CDO and CLO losses to the extent of our equity interests and also have rights to waterfall payments in excess of required payments to CDO and CLO bond investors. As a result of consolidation, equity interests in these CDOs and CLOs have been eliminated, and the consolidated balance sheets reflect both the assets held and debt issued by the CDOs and CLOs to third parties. Our operating results and cash flows include the gross amounts related to CDO and CLO assets and liabilities as opposed to our net economic interests in the CDO and CLO entities. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Assets held by the CDOs and CLOs are restricted and can be used only to settle obligations of the CDOs and CLOs. The liabilities of the CDOs and CLOs are non-recourse to us and can only be satisfied from each CDOs and CLOs respective asset pool. Assets and liabilities related to the CDOs and CLOs are disclosed parenthetically, in the aggregate, in our consolidated balance sheets. See Note 7—"Debt Obligations" for further details. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We are not obligated to provide, have not provided, and do not intend to provide financial support to any of the consolidated CDOs and CLOs. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Unconsolidated VIEs </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We have determined that we are not the primary beneficiary of 20 VIEs in which we have a variable interest as of December 31, 2014 because we do not have the ability to direct the activities of the VIEs that most significantly impact each entity's economic performance. VIEs, of which we are not the primary beneficiary, have an aggregate carrying amount of $520.4 million and exposure to real estate debt of approximately $2.3 billion at December 31, 2014. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following is a summary of our variable interests in identified VIEs, of which we are not the primary beneficiary, as of December 31, 2014: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:40.76%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Type </font></p>
</td>
<td valign="bottom" style="width:00.86%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:22.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying Amount(1) </font></p>
</td>
<td valign="bottom" style="width:00.86%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:33.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Maximum Exposure to Loss(2) </font></p>
</td>
<td valign="bottom" style="width:00.86%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:40.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Loans</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:20.70%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>410,698,756
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:30.80%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>410,698,756
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:40.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Loans and equity investments</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:20.70%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>107,071,875
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:30.80%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>107,071,875
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:40.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CMBS</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:20.70%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:30.80%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:40.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Junior subordinated notes</font><font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">(3)</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:20.70%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>578,000
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:30.80%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>578,000
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:40.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:20.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:03.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:30.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:40.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:20.70%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>520,448,631
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:30.80%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>520,448,631
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:40.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:20.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:03.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:30.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:40.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:20.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:03.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:30.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Represents the carrying amount of loans and investments before reserves. At December 31, 2014, $186.7 million of loans to VIEs had corresponding loan loss reserves of approximately $111.1 million and $40.3 million of loans to VIEs were related to loans classified as non-performing. See Note 3—"Loans and Investments" for further details. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Our maximum exposure to loss as of December 31, 2014 would not exceed the carrying amount of our investment. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(3)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">It is not appropriate to consolidate these entities as equity interests are variable interests only to the extent that the investment is considered to be at risk. Since our investments were funded by the entities that issued the junior subordinated notes, it is not considered to be at risk. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
2100000
578000
107071875
410698756
520448631
20
2300000000
0.05
false
--12-31
FY
2014
2014-12-31
10-K
0001253986
50477308
Yes
Accelerated Filer
298000000
ARBOR REALTY TRUST INC
No
No
137600000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31,</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Percent of</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Total </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Loan</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Count </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Wtd. Avg.</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Pay Rate(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Wtd. Avg.</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Remaining</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Months to</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Maturity </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">First</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dollar</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">LTV</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Ratio(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Last</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dollar</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">LTV</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Ratio(3) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Bridge loans</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,273,439,238
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>80
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>101
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.19
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19.8
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>74
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Mezzanine loans</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>76,392,650
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9.78
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>37.1
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>47
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>81
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Junior participation loans</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>104,091,952
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.62
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12.3
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>86
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>88
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Preferred equity investments</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>133,505,658
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6.11
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45.5
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>62
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>84
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,587,429,498
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>139
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.45
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>22.3
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>76
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Unearned revenue</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(12,466,528
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Allowance for loan losses</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(115,487,320
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
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<font style="display: inline;font-family:Times;"> </font></p>
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<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
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<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
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<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
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<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Loans and investments, net</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,459,475,650
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
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<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31,</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Percent of</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Total </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Loan</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Count </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Wtd. Avg.</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Pay Rate(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Wtd. Avg.</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Remaining</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Months to</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Maturity </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">First</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dollar</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">LTV</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Ratio(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Last</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dollar</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">LTV</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Ratio(3) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Bridge loans</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,171,783,914
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>71
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>95
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.11
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18.5
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>76
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Mezzanine loans</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>118,550,172
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7.02
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>58.2
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>56
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>83
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Junior participation loans</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>248,337,542
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.21
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19.6
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>60
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>81
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Preferred equity investments</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>121,523,673
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7.20
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45.5
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>58
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>79
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,660,195,301
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>144
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.26
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>23.5
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>77
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
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<tr style="CellSpacing:0;">
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<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Unearned revenue</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(14,218,237
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</td>
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</td>
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<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
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<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
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<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
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<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Allowance for loan losses</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
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<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(122,277,411
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<font style="display: inline;font-family:Times;">)</font></p>
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</td>
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<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
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<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
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<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Loans and investments, net</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,523,699,653
</td>
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<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
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<font style="display: inline;font-family:Times;"> </font></p>
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<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
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<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
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<font style="display: inline;font-family:Times;"> </font></p>
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<font style="display: inline;font-family:Times;"> </font></p>
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<font style="display: inline;font-family:Times;"> </font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">"Weighted Average Pay Rate" is a weighted average, based on the unpaid principal balances of each loan in our portfolio, of the interest rate that is required to be paid monthly as stated in the individual loan agreements. Certain loans and investments that require an additional rate of interest "Accrual Rate" to be paid at the maturity are not included in the weighted average pay rate as shown in the table. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">The "First Dollar LTV Ratio" is calculated by comparing the total of our senior most dollar and all senior lien positions within the capital stack to the fair value of the underlying collateral to determine the point at which we will absorb a total loss of our position. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(3)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">The "Last Dollar LTV Ratio" is calculated by comparing the total of the carrying value of our loan and all senior lien positions within the capital stack to the fair value of the underlying collateral to determine the point at which we will initially absorb a loss. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
1100000
300000
-26300000
-15000000
-25237253
-14668250
623993245
629880774
200000
400000
200000
300000
500000
500000
400000
400000
300000
300000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:00.66%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:50.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended </font></p>
</td>
<td valign="bottom" style="width:00.90%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.66%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:00.90%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:00.90%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2012 </font></p>
</td>
<td valign="bottom" style="width:00.90%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Allowance at beginning of the period</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>122,277,411
</td>
<td valign="bottom" style="width:00.90%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>161,706,313
</td>
<td valign="bottom" style="width:00.90%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>185,381,855
</td>
<td valign="bottom" style="width:00.90%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Provision for loan losses</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,026,712
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,500,000
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>23,828,224
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Charge-offs</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,501,079
</td>
<td valign="bottom" style="width:00.90%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(24,713,459
</td>
<td valign="bottom" style="width:00.90%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(46,585,800
</td>
<td valign="bottom" style="width:00.90%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Charge-off on loan converted to other assets</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(19,000,000
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Recoveries of reserves</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(9,315,724
</td>
<td valign="bottom" style="width:00.90%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,215,443
</td>
<td valign="bottom" style="width:00.90%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(917,966
</td>
<td valign="bottom" style="width:00.90%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Allowance at end of the period</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>115,487,320
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>122,277,411
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>161,706,313
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
-917966
-121898
-796068
-2215443
-1510949
-704494
-9315724
-7815724
-1500000
900000
900000
700000
1000000
100000
0
0
0
1877472482
1880422590
2100000
37315652
37315652
2100000
734866
37315652
34480786
700000
2100000
34400000
33400000
2499709
2499709
2000000
499709
2499709
500000
2000000
2499709
2499709
499709
2000000
-1113851
-676077
-437774
-400000
400000
-340920
100000
-440920
-6298
-6298
36208099
2100000
58789
36149310
34049310
15538193
34000000
93715
2100000
18417402
2158789
2100000
58789
2100000
2100000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Basis of Presentation and Principles of Consolidation </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The accompanying consolidated financial statements include our financial statements, our wholly owned subsidiaries, and partnerships or other joint ventures in which we own a voting interest of greater than 50 percent, and variable interest entities ("VIEs") of which we are the primary beneficiary. VIEs are defined as entities in which equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties. A VIE is required to be consolidated by its primary beneficiary, which is the party that (i) has the power to control the activities that most significantly impact the VIE's economic performance and (ii) has the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. Current accounting guidance requires us to present a) assets of a consolidated VIE that can be used only to settle obligations of the consolidated VIE, and b) liabilities of a consolidated VIE for which creditors (or beneficial interest holders) do not have recourse to the general credit of the primary beneficiary. As a result of this guidance, we have separately disclosed parenthetically the assets and liabilities of our three collateralized debt obligation ("CDO") and three collateralized loan obligation ("CLO") subsidiaries on our consolidated balance sheets. Entities in which we have a significant influence are accounted for primarily under the equity method. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. All significant inter-company transactions and balances have been eliminated in consolidation. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The preparation of consolidated financial statements in conformity with accounting principles generally acceptable in the U.S. ("GAAP"), requires management to make estimates and assumptions that could materially affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Further, in connection with preparation of the consolidated financial statements, we evaluated events subsequent to the balance sheet date of December 31, 2014 through the issuance of the consolidated financial statements. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Certain prior year amounts have been reclassified to conform to current period presentation. In the second quarter of 2014, we reclassified a property from real estate held-for-sale to real estate owned when it was determined that a sale of the property would not take place, resulting in reclassifications of the property's operating activity and related depreciation for all prior periods presented from discontinued operations to property operating income and property operating expenses. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
55236479
29188889
60389552
50417745
-26047590
31200663
-9971807
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Restricted Cash </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Restricted cash primarily represents proceeds from loan repayments on deposit with the trustees for our CDOs and CLOs which will be used for principal repayments, unfunded loan commitments and interest payments received from loans. See Note 7—"Debt Obligations." Restricted cash is also held by our real estate owned assets due to escrow requirements. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Cash and Cash Equivalents </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> All highly liquid investments with original maturities of three months or less are considered to be cash equivalents. We place our cash and cash equivalents in high quality financial institutions. The consolidated account balances at each institution periodically exceed Federal Deposit Insurance Corporation (FDIC) insurance coverage and we believe that this risk is not significant. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
25800000
4.00
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Note 11—Commitments and Contingencies </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Contractual Commitments </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Our debt facilities which include credit facilities, CDOs, CLOs, senior unsecured notes, junior subordinated notes, notes payable and mortgage notes payable have approximate maturities of $347.3 million in 2015, $253.9 million in 2016, $310.9 million in 2017, $26.6 million in 2018, $17.4 million in 2019 and $319.9 million thereafter. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In accordance with certain loans and investments, we have outstanding unfunded commitments of $14.5 million as of December 31, 2014 that we are obligated to fund as the borrowers meet certain requirements. Specific requirements include, but are not limited to, property renovations, building construction, and building conversions based on criteria met by the borrower in accordance with the loan agreements. Our restricted cash balance at December 31, 2014 contained approximately $5.3 million which was available to fund all of the unfunded commitments for loans financed by our CDO and CLO vehicles. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Litigation </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We currently are neither subject to any material litigation nor, to management's knowledge, is any material litigation currently threatened against us other than the following: </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> On June 15, 2011, three related lawsuits were filed by the Extended Stay Litigation Trust (the "Trust"), a post-bankruptcy litigation trust alleged to have standing to pursue claims that previously had been held by Extended Stay, Inc. and the Homestead Village L.L.C. family of companies (together "ESI") (formerly Chapter 11 debtors, together the "Debtors") that have emerged from bankruptcy. Two of the lawsuits were filed in the U.S. Bankruptcy Court for the Southern District of New York, and the third in the Supreme Court of the State of New York, New York County. There were 73 defendants in the three lawsuits, including 55 corporate and partnership entities and 18 individuals. A subsidiary of ours and certain other entities that are affiliates of ours are included as defendants. The New York State Court action has been removed to the Bankruptcy Court. Our affiliates filed a motion to dismiss the three lawsuits. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The lawsuits all allege, as a factual basis and background certain facts surrounding the June 2007 leveraged buyout of ESI from affiliates of Blackstone Capital. Our subsidiary, Arbor ESH II, LLC, had a $115.0 million investment in the Series A1 Preferred Units of a holding company of Extended Stay, Inc. The New York State Court action and one of the two federal court actions name as defendants, Arbor ESH II, LLC, Arbor Commercial Mortgage, LLC and ABT-ESI LLC, an entity in which we have a membership interest, among the broad group of defendants. These two actions were commenced by substantially identical complaints. The defendants are alleged in these complaints, among other things, to have breached fiduciary and contractual duties by causing or allowing the Debtors to pay illegal dividends or other improper distributions of value at a time when the Debtors were insolvent. These two complaints also allege that the defendants aided and abetted, induced, or participated in breaches of fiduciary duty, waste, and unjust enrichment ("Fiduciary Duty Claims") and name a director of ours, and a former general counsel of Arbor Commercial Mortgage, LLC, each of whom had served on the Board of Directors of ESI for a period of time. We are defending these two defendants and paying the costs of such defense. On the basis of the foregoing allegations, the Trust has asserted claims under a number of common law theories, seeking the return of assets transferred by the Debtors prior to the Debtors' bankruptcy filing. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In the third action, filed in Bankruptcy Court, the same plaintiff, the Trust, has named Arbor Commercial Mortgage, LLC and ABT-ESI LLC, together with a number of other defendants and asserts claims, including constructive and fraudulent conveyance claims under state and federal statutes, as well as a claim under the Federal Debt Collection Procedure Act. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> On June 28, 2013, the Trust filed a motion to amend the lawsuits, to, among other things, (i) consolidate the lawsuits into one lawsuit, (ii) remove 47 defendants, none of whom are related to us, from the lawsuits so that there are 26 remaining defendants, including 16 corporate and partnership entities and 10 individuals, and (iii) reduce the counts within the lawsuits from over 100 down to 17. The remaining counts in the amended complaint against our affiliates are principally state law claims for breach of fiduciary duties, waste, unlawful dividends and unjust enrichment, and claims under the Bankruptcy Code for avoidance and recovery actions, among others. The bankruptcy court granted the motion and the amended complaint has been filed. The amended complaint seeks $139.0 million in the aggregate from director designees and our affiliates. We have moved to dismiss the referenced actions and intend to vigorously defend against the claims asserted therein. During a status conference held on March 18, 2014, the Court heard oral argument on the motion to dismiss and adjourned the case pending a ruling. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We have not made a loss accrual for this litigation because we believe that it is not probable that a loss has been incurred and an amount cannot be reasonably estimated. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
0.285
0.500
0.500
0.520
0.520
0.13
0.13
0.13
0.13
0.13
0.01
0.01
500000000
500000000
51787075
53128075
49136308
50477308
517870
531280
29643233
30992402
96361238
215567
124199
29858800
35623184
103617493
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Other Comprehensive Income </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We divide comprehensive income or loss into net income and other comprehensive income (loss), which includes unrealized gains and losses on available-for-sale securities. In addition, to the extent our derivative instruments qualify as hedges, net unrealized gains or losses are reported as a component of accumulated other comprehensive income (loss). </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
0.08
0.36
0.10
0.30
0.14
0.28
0.10
0.23
0.11
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Variable Interest Entities </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We have evaluated our loans and investments, mortgage related securities, investments in equity affiliates, junior subordinated notes, CDOs and CLOs, in order to determine if they qualify as VIEs or as variable interests in VIEs. This evaluation resulted in our determining that our bridge loans, junior participation loans, mezzanine loans, preferred equity investments, investments in equity affiliates, junior subordinated notes, CDOs, CLOs, and investments in debt securities were potential VIEs or variable interests in VIEs. See Note 9—"Variable Interest Entities" for our evaluation. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
319900000
17400000
26600000
347300000
253900000
310900000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Note 5—Investments in Equity Affiliates </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following is a summary of our investments in equity affiliates at December 31, 2014 and 2013: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:00.84%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:30.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Investments in Equity</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Affiliates at </font></p>
</td>
<td valign="bottom" style="width:00.82%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:18.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid Principal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Balance of Loans</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">to Equity</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Affiliates at </font></p>
</td>
<td valign="bottom" style="width:00.82%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Equity Affiliates </font></p>
</td>
<td valign="bottom" style="width:00.84%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:14.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31,</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:00.82%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31,</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:00.82%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:18.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31,</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:00.82%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Lightstone Value Plus REIT L.P</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,894,727
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,894,727
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">West Shore Café</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,872,661
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,690,280
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,687,500
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Issuers of Junior Subordinated Notes</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>578,000
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>578,000
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">JT Prime</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>425,000
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>425,000
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">East River Portfolio</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>98,578
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,994,166
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Lexford Portfolio</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>112,740,000
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">930 Flushing & 80 Evergreen</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>92,199
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">450 West 33</font><font style="display: inline;font-family:Times;font-size:10pt;font-size:5pt;top:-4pt;position:relative;line-height:100%">rd</font><font style="display: inline;font-family:Times;font-size:10pt;"> Street</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Ritz-Carlton Club</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">— </font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:16.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,869,066
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,680,306
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>119,421,666
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
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<font style="display: inline;font-family:Times;font-size:10pt;"> We account for the 450 West 33</font><font style="display: inline;font-family:Times;font-size:10pt;font-size:5pt;top:-4pt;position:relative;line-height:100%">rd</font><font style="display: inline;font-family:Times;font-size:10pt;"> Street investment under the cost method of accounting and the remaining investments under the equity method. </font>
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<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;"> </font><font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;text-decoration:underline;">Lightstone Value Plus REIT L.P. / JT Prime</font><font style="display: inline;font-family:Times;font-size:10pt;">—We owned approximately $56.0 million of preferred and common operating partnership units of Lightstone through a consolidated entity in which we have a two thirds interest. In addition, the consolidated entity had debt of approximately $50.2 million, which was secured by these operating partnership units. In September 2013, our portion of the preferred operating partnership units were redeemed by Lightstone for cash, at par, and the note related to our portion was repaid in full. As a result, we received cash of $2.0 million, reflecting our equity in the preferred operating partnership units redeemed. In the fourth quarter of 2013, the entity's operating agreement was amended to provide joint control to the members of the entity, and therefore, the entity was deconsolidated. The investment balance of approximately $1.9 million reflects the carrying value of the remaining common operating partnership units of Lightstone. At the time of deconsolidation, the $1.9 million carrying value of our remaining interest approximated its fair value. The fair value was determined by the latest issued tender offer by Lightstone for its common stock. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> We own a 50% non-controlling interest in an unconsolidated joint venture, JT Prime, which holds preferred and common operating partnership units of Lightstone as well as a promissory note secured by these operating partnership units. In September 2013, our portion of the preferred operating partnership units were redeemed by Lightstone for cash, at par, and the note related to our portion was repaid in full. As a result, we received cash of $0.4 million and the carrying value of our investment in JT Prime was reduced to $0.4 million, reflecting our remaining interest in the common operating partnership units. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> The preferred operating partnership units yielded 4.63% and the loan bore interest at a rate of 4.00%. During the years ended December 31, 2013 and 2012, we recorded $1.8 million and $2.7 million, respectively, of dividends from the preferred and common operating partnership units which were reflected in interest income, and $1.3 million and $2.0 million, respectively, of interest expense in our consolidated statements of income. </font>
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<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;"> </font><font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;text-decoration:underline;">West Shore Café</font><font style="display: inline;font-family:Times;font-size:10pt;">—We own a 50% noncontrolling interest in the West Shore Lake Café, a restaurant/inn lakefront property in Lake Tahoe, California. During the second quarter of 2014, we provided a $1.7 million first mortgage loan to acquire property adjacent to the original property, which matures in May 2017 and bears interest at a yield of LIBOR plus 4.00%. </font>
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<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;"> </font><font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;text-decoration:underline;">Issuers of Junior Subordinated Notes</font><font style="display: inline;font-family:Times;font-size:10pt;">—We have invested a total of $0.6 million for 100% of the common shares of two affiliated entities of ours. These entities pay dividends on both the common shares and preferred securities on a quarterly basis at variable rates based on three-month LIBOR. See Note 7—"Debt Obligations" for further details. </font>
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<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;"> </font><font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;text-decoration:underline;">East River Portfolio</font><font style="display: inline;font-family:Times;font-size:10pt;">—In August 2014, we invested $0.1 million for a 5% interest in a joint venture that owns two multifamily properties. The joint venture consists of a consortium of investors consisting of certain of our officers, including Mr. Ivan Kaufman, and other related parties, who together own an interest of 95%. In August 2014, we originated two bridge loans totaling $5.0 million with an interest rate of 5.5% over one-month LIBOR and a maturity date of August 2015. See Note 14—"Agreements and Transactions with Related Parties" for further details. </font>
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<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;"> </font><font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;text-decoration:underline;">Lexford Portfolio</font><font style="display: inline;font-family:Times;font-size:10pt;">—We, along with third party investors, made a $0.1 million equity investment into Lexford, a portfolio of multifamily assets. Our portion of this investment is a $44,000 noncontrolling interest. We also had a $10.5 million interest in a $25.0 million preferred equity investment in Lexford with the same third party investors that was repaid during 2013. See Note 14—"Agreements and Transactions with Related Parties" for further details. </font>
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<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;"> </font><font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;text-decoration:underline;">930 Flushing & 80 Evergreen</font><font style="display: inline;font-family:Times;font-size:10pt;">—We had a 12.5% preferred interest in a joint venture that owns and operates two commercial properties. We also had a $22.4 million bridge loan and a $0.5 million mezzanine loan outstanding to affiliated entities of the joint venture. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> In May 2014, our interest in the properties was sold for $7.9 million. As a result, we recorded a gain on sale of equity interest in our consolidated statements of income of approximately $7.9 million and reduced our investment to $0. We no longer have an interest in this investment. In July 2014, our outstanding loans totaling $22.9 million to this joint venture were repaid in full. </font>
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<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;"> </font><font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;text-decoration:underline;">450 West 33rd Street</font><font style="display: inline;font-family:Times;font-size:10pt;">—We were a participant in an investor group that owns a non-controlling interest in an office building at 450 West 33rd Street in Manhattan, New York. The investor group as a whole has a 1.44% retained ownership interest in the property and 50% of the property's air rights. We had a 29% interest in the 1.44% retained ownership interest and 50% air rights. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> In 2007, we, as part of the investor group, transferred control of the property and recorded deferred revenue of approximately $77.1 million. The gain was deferred as a result of the agreement of the joint venture members to guarantee a portion of the debt outstanding on the property. The guarantee was allocated to the members in accordance with their ownership percentages. Our portion of the guarantee was $76.3 million. In July 2014, the existing debt on the property was refinanced and our portion of the guarantee was terminated, resulting in the recognition of the $77.1 million deferred gain as well as a $19.0 million prepaid incentive management fee for a non-cash net gain of $58.1 million. See Note 14—"Agreements and Transactions with Related Parties" for details of the prepaid incentive fee recorded in 2007 related to this investment. In the third quarter of 2014, we made an additional investment of $0.3 million. In the fourth quarter of 2014, we sold our remaining interest in this property for $1.1 million and recorded a gain on sale of $0.8 million. We no longer have an interest in this investment. </font>
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<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;"> </font><font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;text-decoration:underline;">Ritz-Carlton Club</font><font style="display: inline;font-family:Times;font-size:10pt;">—We own a 19.09% non-controlling interest with a 10% return subject to certain conditions in the Ritz-Carlton Club, a condominium project in Lake Tahoe, California. During 2012, we recorded $0.8 million of losses from the entity against the equity investment reducing the balance of our investment to $0. </font>
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<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Summarized Financial Information </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> The condensed combined balance sheets for our unconsolidated investments in equity affiliates accounted for under the equity method at December 31, 2014 and 2013 are as follows (in thousands): </font>
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<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Condensed Combined Balance Sheets </font></p>
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<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
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<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Cash and cash equivalents</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>22,552
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,101
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Real estate assets</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>639,813
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>697,484
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Other assets</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19,169
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19,618
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Total assets</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>681,534
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>730,203
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Liabilities:</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Notes payable</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>691,488
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>734,693
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Other liabilities</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>22,653
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19,607
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total liabilities</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>714,141
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>754,300
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Stockholders' equity Arbor(1)</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,291
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,102
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Stockholders' deficit</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(36,898
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(28,199
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total stockholders' deficit</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(32,607
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(24,097
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Total liabilities and deficit</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>681,534
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.90%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>730,203
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:58.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.90%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Combined with $0.6 million of equity relating to the issuance of junior subordinated notes, equals $4.9 million of investments in equity affiliates, at December 31, 2014. Combined with $0.6 million of equity relating to the issuance of junior subordinated notes, equals $4.7 million of investments in equity affiliates, at December 31, 2013. </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The condensed combined statements of operations for our unconsolidated investments in equity affiliates accounted for under the equity method for the years ended December 31, 2014, 2013 and 2012, are as follows (in thousands): </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:00.98%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:46.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended </font></p>
</td>
<td valign="bottom" style="width:01.32%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Statements of Operations: </font></p>
</td>
<td valign="bottom" style="width:00.98%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:14.74%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:01.32%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:14.74%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:01.32%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:14.74%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2012 </font></p>
</td>
<td valign="bottom" style="width:01.32%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Revenue:</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Rental income</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>89,192
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>85,551
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>80,472
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Interest income</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>259
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>478
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>813
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Operating income</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,168
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,709
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,619
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Reimbursement income</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,501
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,653
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,427
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Other income</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,993
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,686
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,436
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total revenues</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>108,113
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>105,077
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>101,767
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Expenses:</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Operating expenses</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>59,266
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>58,265
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>60,257
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Interest expense</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>33,033
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,061
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,315
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Depreciation and amortization</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>26,793
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>23,345
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>22,283
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Other expenses</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>621
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>493
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total expenses</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>119,713
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>118,164
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>118,882
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Net loss</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(11,600
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(13,087
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(17,115
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Arbor's Share of income (loss)</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>249
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(204
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(698
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.98%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
27963386
26728174
27857460
-1025508
-779991
245517
1000000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Note 7—Debt Obligations </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We utilize various forms of short-term and long-term financing agreements to finance certain of our loans and investments. Borrowings underlying these arrangements are primarily secured by a significant amount of our loans and investments. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Credit Facilities and Repurchase Agreements </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following table outlines borrowings under our credit facilities and repurchase agreements as of December 31, 2014 and 2013: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Debt</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Weighted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Average</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Note Rate </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Debt</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Weighted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Average</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Note Rate </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">$100 million warehousing credit facility</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>92,520,637
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>128,593,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.45
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>33,300,540
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,705,813
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.46
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">$75 million warehousing credit facility</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,975,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>58,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.45
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30,838,180
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,774,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.70
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">$60 million warehousing credit facility</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,890,563
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,422,236
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.20
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,063,750
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,800,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.20
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">$33 million warehousing credit facility</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>33,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>55,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.45
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">$20 million revolving credit facility</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>20,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8.50
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">$15 million term credit facility</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7.50
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Repurchase agreement</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,497,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,536,049
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.75
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Repurchase agreement</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,425,553
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,944,735
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.00
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total credit facilities and repurchase agreements</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>180,386,200
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>232,015,236
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.84
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>159,125,023
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>203,760,597
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.16
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
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<font style="display: inline;font-family:Times;font-size:10pt;"> At December 31, 2014 and 2013, the weighted average interest rate for our credit facilities and repurchase agreements was 2.84% and 3.16%, respectively. Including certain fees and costs, the weighted average interest rate was 3.06% and 3.57% at December 31, 2014 and 2013, respectively. There were no interest rate swaps on these facilities at December 31, 2014 and 2013. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> In July 2011, we entered into a two year, $50.0 million warehouse facility with a financial institution to finance first mortgage loans on multifamily properties. In 2013, we amended the facility, increasing the committed amount to $75.0 million, decreased the rate of interest from 275 basis points over LIBOR to 225 basis points over LIBOR, decreased certain commitment, warehousing and non-use fees and extended the maturity to April 2015. In March 2014, the facility's committed amount was increased to $110.0 million, which included a temporary increase of $10.0 million that was repaid in April 2014 as part of the issuance of our third CLO, and required a 0.13% commitment fee, which was increased to 0.35% upon an amendment in August 2014 that included the elimination of advance fees. The facility has a maximum advance rate of 75% and contains several restrictions including full repayment of an advance if a loan becomes 60 days past due, is in default or is written down by us. The facility has various financial covenants including a minimum liquidity requirement of $20.0 million, minimum tangible net worth which includes junior subordinated notes as equity of $150.0 million, maximum total liabilities less subordinate debt of $2.0 billion, as well as certain other debt service coverage ratios and debt to equity ratios. The facility has a compensating balance requirement of $50.0 million to be maintained by us and our affiliates. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> In February 2013, we entered into a one year, $50.0 million warehouse facility with a financial institution to finance first mortgage loans on multifamily properties. In April 2014, we amended the facility, increasing the committed amount to $75.0 million. The facility bears interest at a rate of 225 basis points over LIBOR which was originally 250 basis points over LIBOR, upon closing, requires a 35 basis point commitment fee, which was originally 12.5 basis points, upon closing, matures in March 2015, has warehousing and non-use fees and allows for an original warehousing period of up to 24 months from the initial advance on an asset. The facility has a maximum advance rate of 75% and contains certain restrictions including partial prepayment of an advance if a loan becomes 90 days past due or in the process of foreclosure, subject to certain conditions. The facility has various financial covenants including a minimum liquidity requirement of $20.0 million, minimum tangible net worth which includes junior subordinated notes as equity of $150.0 million, maximum total liabilities less subordinate debt of $2.0 billion, as well as certain other debt service coverage ratios and debt to equity ratios. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> In June 2013, we entered into a one year, $40.0 million warehouse facility with a financial institution to finance first mortgage loans on multifamily properties, including a $10.0 million sublimit to finance retail and office properties. In February 2014, we amended the facility, increasing the committed amount to $45.0 million, and in April 2014 the committed amount was increased to $60.0 million. The facility bears interest at a rate of 200 basis points over LIBOR, matures in April 2015, has warehousing fees and allows for an original warehousing period of up to 24 months from the initial advance on an asset. The facility also has a maximum advance rate of 70% or 75%, depending on the property type, and contains certain restrictions including prepayment of an advance if a loan becomes 60 days past due or is in the process of foreclosure, subject to certain conditions. The facility also includes various financial covenants including a minimum liquidity requirement of $20.0 million, minimum tangible net worth of $150.0 million, as well as a minimum debt service coverage ratio. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> In December 2013, we entered into a $33.0 million warehouse facility with a financial institution to finance the first mortgage loan on a multifamily property. The facility bore interest at a rate of 225 basis points over LIBOR which increased to 250 basis points over LIBOR in February 2014, required up to a 45 basis point commitment fee and was to mature in November 2015 with a one year extension option. In April 2014, the facility was repaid in full as part of the issuance of our third CLO. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> In May 2012, we entered into a $15.0 million committed revolving line of credit with a one year term, which was secured by a portion of the bonds originally issued by our CDO entities that have been repurchased by us. This facility had a 1% commitment fee, a 1% non-use fee and paid interest at a fixed rate of 8% on any drawn portion of the line. In January 2013, we amended the facility, increasing the committed amount to $20.0 million and a fixed rate of interest of 8.5% on any drawn portion of the $20.0 million commitment. The amendment also required a 1% commitment fee and a 1% non-use fee. In May 2013, we extended the facility to a maturity in May 2014 with a one year extension option and a 1% extension fee, as well as amended the facility to have an 8.5% non-use fee on the first $5.0 million not borrowed and a 1% non-use fee on the remaining funds not borrowed. In May 2014, the facility was repaid in full from proceeds received from the issuance of senior unsecured notes. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> In August 2014, we entered into a $15.0 million term facility with a maturity in August 2015, a fixed interest rate of 7.5% and no commitment or non-use fees. The facility is secured by a portion of the bonds originally issued by our CDO III entity that have been repurchased by us. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> In July 2011, we entered into a repurchase agreement with a financial institution to finance the purchase of RMBS investments. During the first quarter of 2014, we paid off the remaining balance of $12.5 million due to the sale of our RMBS investments as well as principal paydowns received. See Note 4—"Securities" for further details. The facility bore interest at a rate of 125 to 200 basis points over LIBOR. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> In June 2012, we entered into a repurchase agreement with a financial institution to finance the purchase of RMBS investments. During the first quarter of 2014, we paid off the remaining balance of $14.4 million due to the sale of our RMBS investments as well as principal paydowns received. The facility bore interest at a rate of 180 to 185 basis points over LIBOR. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> In January 2015, we entered into a $150.0 million warehouse repurchase facility with a financial institution to finance a significant portion of the unwind of our CDO I and CDO II vehicles. The facility bears interest at a rate of 212.5 basis points over LIBOR on senior mortgage loans, 350.0 basis points over LIBOR on junior mortgage loans and has a two year term with a one year extension option. The facility also has a structuring fee of 50 basis points and contains certain financial covenants and restrictions. See "Collateralized Debt Obligations" below. </font>
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<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Collateralized Debt Obligations </font><font style="display: inline;font-family:Times;font-size:10pt;">(CDOs) </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> The following table outlines borrowings and the corresponding collateral under our CDOs as of December 31, 2014: </font>
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<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Debt </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Loans </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cash </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Restricted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cash(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">At-Risk(3) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CDO I</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>69,972,159
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>75,402,789
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>222,903,486
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>174,460,160
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,232,226
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>180,691,292
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CDO II</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>97,906,092
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>103,484,624
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>192,522,685
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>143,824,571
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>69,412,808
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>106,139,494
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CDO III</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>144,192,804
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>152,507,713
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>202,758,120
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>171,457,394
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>64,771,797
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>147,049,346
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total CDOs</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>312,071,055
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>331,395,126
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>618,184,291
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>489,742,125
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>139,416,831
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>433,880,132
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following table outlines borrowings and the corresponding collateral under our CDOs as of December 31, 2013: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Debt </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Loans </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cash </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Restricted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cash(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">At-Risk(3) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CDO I</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>126,753,077
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>132,399,560
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>284,758,473
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>237,194,618
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>79,986
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>179,466,954
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CDO II</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>196,046,587
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>201,847,417
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>362,150,693
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>312,859,875
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,719,760
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>187,213,841
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CDO III</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>296,754,194
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>305,376,004
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>395,783,494
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>365,236,505
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>23,607,813
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>240,503,823
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total CDOs</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>619,553,858
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>639,622,981
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,042,692,660
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>915,290,998
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,407,559
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>607,184,618
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
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<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> CDO I—Issued four investment grade tranches in January 2005 with a reinvestment period through April 2009 and a stated maturity date of February 2040. Interest is variable based on three-month LIBOR; the weighted average note rate was 3.23% and 3.12% at December 31, 2014 and 2013, respectively. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> CDO II—Issued nine investment grade tranches in January 2006 with a reinvestment period through April 2011 and a stated maturity date of April 2038. Interest is variable based on three-month LIBOR; the weighted average note rate was 6.22% and 3.74% at December 31, 2014 and 2013, respectively. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> CDO III—Issued ten investment grade tranches in December 2006 with a reinvestment period through January 2012 and a stated maturity date of January 2042. Interest is variable based on three-month LIBOR; the weighted average note rate was 0.98% and 0.75% at December 31, 2014 and 2013, respectively. </font>
</p>
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<font style="display: inline;font-family:Times;">(1)</font></p>
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<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Amounts include loans to real estate assets consolidated by us that were reclassified to real estate owned and held-for-sale, net on the consolidated financial statements. </font></p>
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<font style="display: inline;font-family:Times;">(2)</font></p>
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<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Represents restricted cash held for principal repayments in the CDOs. Does not include restricted cash related to interest payments, delayed fundings and expenses. </font></p>
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<font style="display: inline;font-family:Times;">(3)</font></p>
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<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Amounts represent the face value of collateral in default, as defined by the CDO indenture, as well as assets deemed to be "credit risk." Credit risk assets are reported by each of the CDOs and are generally defined as one that, in the CDO collateral manager's reasonable business judgment, has a significant risk of declining in credit quality or, with a passage of time, becoming a defaulted asset. </font></p>
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<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> At December 31, 2014 and 2013, the aggregate weighted average note rate for our CDOs, including the cost of interest rate swaps on assets financed in these facilities, was 3.13% and 2.18%, respectively. Excluding the effect of swaps, the weighted average note rate at December 31, 2014 and 2013 was 1.07% and 0.83%, respectively. Including certain fees and costs, the weighted average note rate was 5.26% and 3.26% at December 31, 2014 and 2013, respectively. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In January 2005, we completed our first CDO vehicle, issuing to third party investors four tranches of investment grade collateralized debt obligations ("CDO I") through a newly-formed wholly-owned subsidiary, Arbor Realty Mortgage Securities Series 2004-1, Ltd. ("the Issuer"). At inception, the Issuer held assets, consisting primarily of bridge loans, mezzanine loans and cash totaling approximately $469.0 million, which serve as collateral for CDO I. The Issuer issued investment grade notes with an initial principal amount of approximately $305.0 million and a wholly-owned subsidiary of ours purchased the preferred equity interests of the Issuer. The four investment grade tranches were issued with floating rate coupons with an initial combined weighted average rate of three-month LIBOR plus 0.77%. The outstanding debt balance is reduced as loans are repaid. We incurred approximately $7.2 million of issuance costs which is amortized on a level yield basis over the average estimated life of CDO I. Investor capital is repaid quarterly from proceeds received from loan repayments held as collateral in accordance with the terms of the CDO. Proceeds distributed are recorded as a reduction of the CDO liability. Proceeds of $56.8 million and $7.2 million were distributed in 2014 and 2013, respectively. The CDO liability is also reduced as the notes are purchased by us—see below. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In January 2006, we completed our second CDO vehicle, issuing to third party investors nine tranches of investment grade collateralized debt obligations ("CDO II") through a newly-formed wholly-owned subsidiary, Arbor Realty Mortgage Securities Series 2005-1, Ltd. ("the Issuer II"). At inception, the Issuer II held assets, consisting primarily of bridge loans, mezzanine loans and cash totaling approximately $475.0 million, which serve as collateral for CDO II. The Issuer II issued investment grade notes with an initial principal amount of approximately $356.0 million and a wholly-owned subsidiary of ours purchased the preferred equity interests of the Issuer II. The nine investment grade tranches were issued with floating rate coupons with an initial combined weighted average rate of three-month LIBOR plus 0.74%. The outstanding debt balance is reduced as loans are repaid. We incurred approximately $6.2 million of issuance costs which is being amortized on a level yield basis over the average estimated life of CDO II. Investor capital is repaid quarterly from proceeds received from loan repayments held as collateral in accordance with the terms of the CDO. Proceeds distributed are recorded as a reduction of the CDO liability. Proceeds of $98.1 million and $34.1 million were distributed and recorded as a reduction of the CDO II liability during 2014 and 2013, respectively. The CDO liability is also reduced as the notes are purchased by us—see below. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In December 2006, we completed our third CDO vehicle, issuing to third party investors ten tranches of investment grade collateralized debt obligations ("CDO III") through a newly-formed wholly-owned subsidiary, Arbor Realty Mortgage Securities Series 2006-1, Ltd. ("the Issuer III"). At inception, the Issuer III held assets, consisting primarily of bridge loans, mezzanine loans, junior participation loans, preferred equity investments and cash totaling approximately $500.0 million, which serve as collateral for CDO III. The Issuer III issued investment grade notes with an initial principal amount of approximately $547.5 million, including a $100.0 million revolving note class that provides a revolving note facility and a wholly-owned subsidiary of ours purchased the preferred equity interests of the Issuer III. The ten investment grade tranches were issued with floating rate coupons with an initial combined weighted average rate of three-month LIBOR plus 0.44% and the revolving note facility has a commitment fee of 0.22% per annum on the undrawn portion of the facility. The outstanding debt balance will be reduced as loans are repaid. Investor capital will be repaid quarterly from proceeds received from loan repayments held as collateral in accordance with the terms of the CDO. Proceeds distributed are recorded as a reduction of the CDO liability. Proceeds of $152.6 million and $120.8 million were distributed and recorded as a reduction of the CDO III liability during both 2014 and 2013, respectively. The CDO liability is also reduced as the investment grade notes are purchased by us—see below. We incurred approximately $9.7 million of issuance costs which is being amortized on a level yield basis over the average estimated life of CDO III. The outstanding note balance for CDO III was $152.5 million and $257.4 million at December 31, 2014 and 2013, respectively. CDO III has $100.0 million revolving note class that provides a revolving note facility. The outstanding revolving note facility for CDO III was $1.8 million and $48.0 million at December 31, 2014 and 2013, respectively. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Proceeds from the sale of the 23 investment grade tranches issued in CDO I, CDO II and CDO III were used to repay outstanding debt under our repurchase agreements and notes payable. The assets pledged as collateral were contributed from our existing portfolio of assets. Each CDO has reached the end of its replenishment period. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We account for these transactions on our consolidated balance sheet as financing facilities. Our CDOs are VIEs for which we are the primary beneficiary and are consolidated in our financial statements accordingly. The investment grade tranches are treated as secured financings, and are non-recourse to us. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In January 2015, we completed the unwinding of CDO I and CDO II, redeeming $167.9 million of our outstanding notes. The notes were repaid primarily from proceeds received from the refinancing of CDO I and II's remaining assets within a new $150.0 million warehouse repurchase facility and our existing financing facilities, as well as with cash held by each CDO. As a result of this transaction, we generated approximately $30.0 million in cash equity and expect to expense $0.1 million of deferred fees in the first quarter of 2015. We also terminated the related basis and interest rate swaps and expect to incur a loss of $4.3 million in the first quarter of 2015. See Note 8—"Derivative Financial Instruments" for additional details. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In 2010, we re-issued our own CDO bonds we had acquired throughout 2009 with an aggregate face amount of approximately $42.8 million as part of an exchange for the retirement of $114.1 million of our junior subordinated notes. This transaction resulted in the recording of $65.2 million of additional CDO debt, of which $42.3 million represents the portion of our CDO bonds that were exchanged and $22.9 million represents the estimated interest due on the reissued bonds through their maturity, of which $19.3 million remains at December 31, 2014. In the first quarter of 2015, we unwound our CDO I and CDO II vehicles and reduced the balance of estimated interest by $11.0 million, recording a gain. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following table sets forth the face amount and gain on extinguishment of our CDO bonds repurchased in the following periods by bond class: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
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<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
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<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
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<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, </font></p>
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<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
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<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
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<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
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<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
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<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2012 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Class: </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amount </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Gain </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amount </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Gain </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amount </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Gain </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">B</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,615,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">C</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,329,509
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,200,182
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">D</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,350,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,819,066
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">E</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,765,276
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,445,033
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">F</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,708,556
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,048,417
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">G</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,672,039
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,777,138
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">H</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,935,088
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,930,772
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,403,771
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,554,187
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,935,088
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,930,772
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>66,229,151
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30,459,023
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Collateralized Loan Obligations (CLOs) </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following table outlines borrowings and the corresponding collateral under our CLOs as of December 31, 2014: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Debt </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Loans </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cash </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Restricted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cash(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">At-Risk(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CLO II</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>177,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>177,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>252,353,210
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>251,658,406
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,284,919
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CLO III</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>281,250,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>281,250,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>315,390,280
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>313,932,084
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>59,245,183
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total CLOs</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>458,250,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>458,250,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>567,743,490
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>565,590,490
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>66,530,102
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CLO II—Issued two investment grade tranches in January 2013 with a replacement period through February 2015 and a stated maturity date of February 2023. Interest is variable based on three-month LIBOR; the weighted average note rate was 2.56%. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CLO III—Issued three investment grade tranches in April 2014 with a replacement period through October 2016 and a stated maturity date of May 2024. Interest is variable based on three-month LIBOR; the weighted average note rate was 2.60%. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following table outlines borrowings and the corresponding collateral under our CLOs as of December 31, 2013: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Debt </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Loans </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cash </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Restricted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cash(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">At-Risk(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CLO I</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>87,500,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>87,500,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>114,414,154
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>113,940,857
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,672,496
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CLO II</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>177,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>177,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>255,016,564
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>253,989,391
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,621,675
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total CLOs</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>264,500,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>264,500,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>369,430,718
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>367,930,248
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,294,171
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Represents restricted cash held for principal repayments in the CLOs. Does not include restricted cash related to interest payments, delayed fundings and expenses. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Amounts represent the face value of collateral in default, as defined by the CLO indenture, as well as assets deemed to be "credit risk." Credit risk assets are reported by each of the CLOs and are generally defined as one that, in the CLO collateral manager's reasonable business judgment, has a significant risk of declining in credit quality or, with a passage of time, becoming a defaulted asset. </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In September 2012, we completed our first CLO ("CLO I"), issuing to third party investors two tranches of investment grade CLOs through two newly-formed wholly-owned subsidiaries. Initially, the notes are secured by a portfolio of loan obligations with a face value of approximately $125.1 million, consisting primarily of bridge loans and a senior participation interest in a first mortgage loan that were contributed from our existing loan portfolio. The financing had a two-year replacement period that allowed the principal proceeds and sale proceeds (if any) of the loan obligations to be reinvested in qualifying replacement loan obligations, subject to the satisfaction of certain conditions set forth in the indenture. Thereafter, the outstanding debt balance will be reduced as loans are repaid. As of October 9, 2014, CLO I has past the reinvestment period and investor capital will be repaid quarterly from proceeds received from loan repayments held as collateral in accordance with the terms of the CLO. The aggregate principal amounts of the two classes of notes are $75.0 million of Class A senior secured floating rate notes and $12.5 million of Class B secured floating rate notes. We retained a residual interest in the portfolio with a notional amount of $37.6 million. The notes have an initial weighted average interest rate of approximately 3.39% plus one-month LIBOR and interest payments on the notes are payable monthly. We incurred approximately $2.4 million of issuance costs which is being amortized on a level yield basis over the average estimated life of the CLO. Including certain fees and costs, the initial weighted average note rate was 4.35%. In the fourth quarter of 2014, we completed the unwind of CLO I redeeming $87.5 million of outstanding notes which were repaid with proceeds received from the refinancing of the remaining assets within our existing financing facilities and cash held by CLO I and expensed approximately $1.0 million of deferred fees in the fourth quarter of 2014 into interest expense on the consolidated statement of income. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In January 2013, we completed our second CLO ("CLO II"), issuing to third party investors two tranches of investment grade CLOs through two newly-formed wholly-owned subsidiaries. As of the CLO closing date, the notes are secured by a portfolio of loan obligations with a face value of approximately $210.0 million, consisting primarily of bridge loans and a senior participation interest in a first mortgage loan that were contributed from our existing loan portfolio. The financing has a two-year replacement period that allows the principal proceeds and sale proceeds (if any) of the loan obligations to be reinvested in qualifying replacement loan obligations, subject to the satisfaction of certain conditions set forth in the indenture. Thereafter, the outstanding debt balance will be reduced as loans are repaid. As of February 10, 2015, CLO II has past the reinvestment period and investor capital will be repaid quarterly from proceeds received from loan repayments held as collateral in accordance with the terms of the CLO. Initially, the proceeds of the issuance of the securities also included $50.0 million for the purpose of acquiring additional loan obligations for a period of up to 90 days from the closing date of the CLO. Subsequently, the issuer owns loan obligations with a face value of approximately $260.0 million. The aggregate principal amounts of the two classes of notes were $156.0 million of Class A senior secured floating rate notes and $21.0 million of Class B secured floating rate notes. We retained a residual interest in the portfolio with a notional amount of approximately $83.0 million. The notes have an initial weighted average interest rate of approximately 2.36% plus one-month LIBOR and interest payments on the notes are payable monthly, beginning on March 15, 2013, to and including February 15, 2023, the stated maturity date of the notes. We incurred approximately $3.2 million of issuance costs which is being amortized on a level yield basis over the average estimated life of the CLO. Including certain fees and costs, the initial weighted average note rate was 3.00%. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In April 2014, we completed our third CLO ("CLO III"), issuing to third party investors three tranches of investment grade CLOs through two newly-formed wholly-owned subsidiaries. As of the CLO closing date, the notes are secured by a portfolio of loan obligations with a face value of approximately $307.3 million, consisting primarily of bridge loans that were contributed from our existing loan portfolio. The financing has an approximate 2.5 year replacement period that allows the principal proceeds and sale proceeds (if any) of the loan obligations to be reinvested in qualifying replacement loan obligations, subject to the satisfaction of certain conditions set forth in the indenture. Thereafter, the outstanding debt balance will be reduced as loans are repaid. Initially, the proceeds of the issuance of the securities also included $67.7 million for the purpose of acquiring additional loan obligations for a period of up to 120 days from the closing date of the CLO, which was fully utilized in July 2014. Subsequently, the issuer owns loan obligations with a face value of approximately $375.0 million. The aggregate principal amounts of the three classes of notes are $221.3 million of Class A senior secured floating rate notes, $24.3 million of Class B secured floating rate notes and $35.8 million of Class C secured floating rate notes. We retained a residual interest in the portfolio with a notional amount of approximately $93.8 million. The notes have an initial weighted average interest rate of approximately 2.39% plus one-month LIBOR and interest payments on the notes are payable monthly. Including certain fees and costs, the initial weighted average note rate was 3.07%. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We account for these transactions on our consolidated balance sheet as financing facilities. Our CLOs are VIEs for which we are the primary beneficiary and are consolidated in our financial statements. The investment grade tranches are treated as secured financings, and are non-recourse to us. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> At December 31, 2014 and 2013, the aggregate weighted average note rate for our CLOs was 2.59% and 2.91%, respectively. Including certain fees and costs, the weighted average note rate was 3.14% and 3.49% at December 31, 2014 and 2013, respectively. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Senior Unsecured Notes </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In May 2014, we issued $55.0 million aggregate principal amount of 7.375% senior unsecured notes due in 2021 in an underwritten public offering, generating net proceeds of approximately $52.9 million after deducting the underwriting discount and offering expenses. Also in May 2014, the underwriters exercised a portion of their over-allotment option for a $3.6 million aggregate principal amount providing additional net proceeds of $3.5 million. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In August 2014, we issued an additional $35.0 million of the senior unsecured notes for net proceeds of approximately $32.5 million after deducting the issuance and underwriting discounts and offering expenses. Additionally, the underwriters exercised a portion of their over-allotment option for a $4.2 million aggregate principal amount providing additional net proceeds of $3.9 million. The notes can be redeemed by us after May 15, 2017. The interest is paid quarterly in February, May, August, and November starting in August 2014. Including certain fees and costs, the weighted average note rate was 8.06% at December 31, 2014. We used the net proceeds to make investments, to repurchase or pay liabilities and for general corporate purposes. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Junior Subordinated Notes </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The carrying value of borrowings under our junior subordinated notes was $159.8 million and $159.3 million at December 31, 2014 and 2013, respectively, which is net of a deferred amount of $16.0 million and $16.6 million, respectively. These notes have maturities ranging from March 2034 through April 2037, pay interest quarterly at a fixed or floating rate of interest based on three-month LIBOR and were not redeemable for the first two years. The current weighted average note rate was 3.01% at December 31, 2014 and 2013, however, based upon the accounting treatment for the restructuring mentioned below, the effective rate was 3.07% and 3.06%, at December 31, 2014 and 2013, respectively. Including certain fees and costs, the weighted average note rate was 3.18% for both periods. The entities that issued the junior subordinated notes have been deemed VIEs. The impact of these VIEs with respect to consolidation is discussed in Note 9—"Variable Interest Entities." </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In 2009, we retired $265.8 million of our then outstanding trust preferred securities, primarily consisting of $258.4 million of junior subordinated notes issued to third party investors and $7.4 million of common equity issued to us in exchange for $289.4 million of newly issued unsecured junior subordinated notes, representing 112% of the original face amount. The notes bear interest equal to three month LIBOR plus a weighted average spread of 2.77%. The 12% increase to the face amount due upon maturity, which had a balance of $16.0 million at December 31, 2014, is being amortized into interest expense over the life of the notes. We also paid transaction fees of approximately $1.3 million to the issuers of the junior subordinated notes related to this restructuring which is being amortized into interest expense over the life of the notes. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Notes Payable </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following table outlines borrowings under our notes payable as of December 31, 2014 and 2013: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.84%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:17.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:17.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.84%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:08.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Debt</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:08.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:08.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Debt</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:08.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 8pt;text-indent: -8pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Junior loan participation, secured by our interest in a first mortgage loan with a principal balance of $1.3 million, participation interest was based on a portion of the interest received from the loan which has a fixed rate of 9.57%</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,300,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,300,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,300,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,300,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 8pt;text-indent: -8pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Junior loan participation, maturity of October 2018, secured by our interest in a mezzanine loan with a principal balance of $3.0 million, participation interest is a fixed rate of 13.00%</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>750,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>750,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 8pt;text-indent: -8pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Junior loan participation, maturity of September 2014, secured by our interest in a mezzanine loan with a principal balance of $3.0 million, participation interest is a fixed rate of 15.00%</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>450,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>450,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 8pt;text-indent: -8pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Total notes payable</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,300,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,300,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,500,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,500,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> At December 31, 2014 and 2013, the aggregate weighted average note rate for our notes payable was 0% and 4.26%, respectively. There were no interest rate swaps on the notes payable at December 31, 2014 and 2013. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Our obligation to pay interest on the junior loan participations is based on the performance of the related loan. Interest expense is based on the portion of the interest received from the loan that is paid to the junior participant. In the third quarter of 2014, we paid off our $0.8 million and $0.5 million junior loan participations. In March 2014, we entered into non-recourse junior loan participations with our Manager totaling $15.0 million on a $70.1 million bridge loan, with a weighted average variable interest rate of 7.20%. In May 2014, the junior loan participations with our Manager were paid off. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Mortgage Note Payable—Real Estate Owned and Held-For-Sale </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We have a first lien mortgage in connection with the acquisition of real property pursuant to bankruptcy proceedings for an entity in which we had a loan secured by the Multifamily Portfolio. At December 31, 2014 and 2013, the outstanding balance of this loan was $31.0 million and $53.8 million, respectively. The mortgage bears interest at a variable rate of one-month LIBOR plus 1.23% and in July 2014, the maturity date was extended to July 2015. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In 2013, a property in the Multifamily Portfolio was classified as held-for-sale and accordingly, $11.0 million of the first lien mortgage related to this property was classified as held-for-sale. In the second quarter of 2014, it was determined that a sale of this property would not take place and the entire first lien mortgage was reclassified as real estate owned. In the third quarter of 2014, a property in the Multifamily Portfolio was sold and accordingly, we repaid the $3.4 million first mortgage related to this property. Additionally, in the third quarter of 2014, three properties in the Multifamily Portfolio were classified as held-for-sale and accordingly, $23.8 million of the first lien mortgage was classified as held-for-sale. In the fourth quarter of 2014, two of the properties classified as held-for-sale were sold and the first lien mortgage was paid down $15.4 million. In the first quarter of 2015, we repaid the existing mortgage of $20.7 million and replaced it with a new $27.2 million mortgage. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We made required paydowns of $4.0 million related to the Multifamily Portfolio first lien mortgage during 2014. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Debt Covenants </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Our debt facilities contain various financial covenants and restrictions, including minimum net worth, minimum liquidity and maximum debt balance requirements, as well as certain other debt service coverage ratios and debt to equity ratios. We were in compliance with all financial covenants and restrictions at December 31, 2014. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Our CDO and CLO vehicles contain interest coverage and asset overcollateralization covenants that must be met as of the waterfall distribution date in order for us to receive such payments. If we fail these covenants in any of our CDOs or CLOs, all cash flows from the applicable CDO or CLO would be diverted to repay principal and interest on the outstanding CDO or CLO bonds and we would not receive any residual payments until that CDO or CLO regained compliance with such tests. Our CDOs and CLOs were in compliance with all such covenants as of December 31, 2014, as well as on the most recent determination dates in January 2015. In the event of a breach of the CDO or CLO covenants that could not be cured in the near-term, we would be required to fund our non-CDO or non-CLO expenses, including management fees and employee costs, distributions required to maintain REIT status, debt costs, and other expenses with (i) cash on hand, (ii) income from any CDO or CLO not in breach of a covenant test, (iii) income from real property and loan assets, (iv) sale of assets, or (v) or accessing the equity or debt capital markets, if available. We have the right to cure covenant breaches which would resume normal residual payments to us by purchasing non-performing loans out of the CDOs or CLOs. However, we may not have sufficient liquidity available to do so at such time. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The chart below is a summary of our CDO and CLO compliance tests as of the most recent determination dates in January 2015: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:46.52%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cash Flow Triggers </font></p>
</td>
<td valign="bottom" style="width:01.14%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">CDO III </font></p>
</td>
<td valign="bottom" style="width:03.80%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">CLO II </font></p>
</td>
<td valign="bottom" style="width:03.80%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">CLO III </font></p>
</td>
<td valign="bottom" style="width:03.80%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:46.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Overcollateralization(1)</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:46.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Current</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>111.34
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>146.89
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>133.33
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:46.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Limit</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>105.60
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>144.25
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>132.33
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:46.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Pass / Fail</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">Pass</font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">Pass</font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">Pass</font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:46.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Interest Coverage(2)</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:46.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Current</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>349.38
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>313.35
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>274.85
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:46.52%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Limit</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>105.60
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>120.00
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>120.00
</td>
<td valign="bottom" style="width:03.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:46.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Pass / Fail</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">Pass</font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">Pass</font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.52%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">Pass</font></p>
</td>
<td valign="bottom" style="width:03.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">The overcollateralization ratio divides the total principal balance of all collateral in the CDO and CLO by the total principal balance of the bonds associated with the applicable ratio. To the extent an asset is considered a defaulted security, the asset's principal balance for purposes of the overcollateralization test is the lesser of the asset's market value or the principal balance of the defaulted asset multiplied by the asset's recovery rate which is determined by the rating agencies. Rating downgrades of CDO and CLO collateral will generally not have a direct impact on the principal balance of a CDO and CLO asset for purposes of calculating the CDO and CLO overcollateralization test unless the rating downgrade is below a significantly low threshold (e.g. CCC-) as defined in each CDO and CLO vehicle. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">The interest coverage ratio divides interest income by interest expense for the classes senior to those retained by us. </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The chart below is a summary of our CDO and CLO overcollateralization ratios as of the following determination dates: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:25.16%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Determination Date </font></p>
</td>
<td valign="bottom" style="width:00.96%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">CDO I </font></p>
</td>
<td valign="bottom" style="width:03.22%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">CDO II </font></p>
</td>
<td valign="bottom" style="width:03.22%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">CDO III </font></p>
</td>
<td valign="bottom" style="width:03.22%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">CLO II </font></p>
</td>
<td valign="bottom" style="width:03.22%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">CLO III </font></p>
</td>
<td valign="bottom" style="width:03.22%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:25.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">January 2015(1)</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>111.34
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>146.89
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>133.33
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:25.16%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">October 2014</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>173.33
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>161.20
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>110.65
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>146.89
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>133.33
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:25.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">July 2014</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>171.01
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>153.44
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>109.20
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>146.89
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>133.33
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:25.16%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">April 2014</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>184.35
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>138.15
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>108.74
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>146.89
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:03.22%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:25.16%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">January 2014</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>167.15
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>137.87
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>107.80
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>146.89
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.60%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">CLO I was redeemed in December 2014 and CDO I and CDO II were redeemed in January 2015. </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The ratio will fluctuate based on the performance of the underlying assets, transfers of assets into the CDOs and CLOs prior to the expiration of their respective replenishment dates, purchase or disposal of other investments, and loan payoffs. No payment due under the junior subordinated indentures may be paid if there is a default under any senior debt and the senior lender has sent notice to the trustee. The junior subordinated indentures are also cross-defaulted with each other. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
0.0077
0.0074
0.0044
0.0277
0.0275
0.0225
0.0175
0.0125
0.0250
0.0225
0.0200
0.0125
0.0185
0.0180
0.0123
0.0400
0.0250
0.0225
0.0200
0.055
0.03500
0.02125
three-month LIBOR
three-month LIBOR
three-month LIBOR
three month LIBOR
LIBOR
one-month LIBOR
one-month LIBOR
LIBOR
LIBOR
LIBOR
LIBOR
LIBOR
LIBOR
three-month LIBOR
three-month LIBOR
three-month LIBOR
three-month LIBOR
one-month LIBOR
LIBOR
LIBOR
one-month LIBOR
LIBOR
LIBOR
one-month LIBOR
LIBOR
LIBOR
305000000
356000000
547500000
289400000
42800000
75000000
12500000
125100000
156000000
21000000
260000000
126753077
296754194
196046587
87500000
177000000
619553858
264500000
15000000
221300000
24300000
35800000
375000000
55000000
3600000
35000000
4200000
69972159
144192804
97906092
281250000
177000000
312071055
458250000
1700000
0.0306
0.0307
0.0957
0.13
0.15
0.04
0.07375
0.0957
0.13
0.15
P2Y
P1Y
P90D
P1Y
P1Y
P120D
P2Y
7200000
6200000
9700000
2400000
3200000
0.0339
0.0236
0.0312
0.0075
0.0374
0.0175
0.0200
0.0426
0.0316
0.0246
0.0270
0.0220
0.0245
0.0218
0.0291
0.0301
0.0850
0.0720
0.0239
0.0323
0.0098
0.0622
0.0260
0.0256
0.0000
0.0284
0.0750
0.0245
0.0245
0.0220
0.0313
0.0259
0.0301
0.0806
14218237
12466528
-13695
-1100000
-21567
77100000
77100000
77123133
-7872
7100000
8800000
21567
5608905
7742286
1489269
1079375
300000
5904089
7250601
7371737
5794013
1418355
7250601
1683253
7371737
1604030
59600000
11600000
3000000
71701000
6402336
6402336
1995
1995
1995
1995
1995
0.06
5000
6397000
66000000
2000
24794000
13908000
4300000
-22000
-1400000
167000
-12000
-100000
-1676000
-1700000
-1000
-100000
-45000
-100000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Note 8—Derivative Financial Instruments </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following is a summary of the derivative financial instruments held by us as of December 31, 2014 and 2013 (dollars in thousands): </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="11" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Notional Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Designation\Cash Flow </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Derivative </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Count </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31,</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Count </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31,</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Expiration</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Date </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Balance</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Sheet</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Location </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31,</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31,</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Non-Qualifying</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Basis Swaps</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>11,600
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">2015</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Other Assets</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Non-Qualifying</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">LIBOR Cap</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>71,701
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">2015</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Other Assets</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Qualifying</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Interest Rate Swaps</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>250,321
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>297,532
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">2015 - 2017</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Other Liabilities</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(13,908
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(24,794
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Non-Qualifying</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Forward Contracts</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Other Assets</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,397
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
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<font style="display: inline;font-family:Times;font-size:10pt;"> The non-qualifying basis swaps hedges are used to manage our exposure to interest rate movements and other identified risks but do not meet hedge accounting requirements. We are exposed to changes in the fair value of certain of our fixed rate obligations due to changes in benchmark interest rates and uses interest rate swaps to manage our exposure to changes in fair value on these instruments attributable to changes in the benchmark interest rate. These interest rate swaps designated as fair value hedges involve the receipt of variable-rate amounts from a counterparty in exchange for us making fixed-rate payments over the life of the agreements without the exchange of the underlying notional amount. During the year ended December 31, 2014, the notional value on a basis swap decreased by approximately $8.6 million pursuant to the contractual terms of the respective swap agreement. During the year ended December 31, 2013, seven basis swaps matured with a combined notional value of approximately $499.4 million and the notional value of one basis swap decreased by approximately $92.6 million pursuant to the contractual terms of the respective swap agreement. We entered into a non-qualifying LIBOR cap hedge in the first quarter of 2014 due to a loan agreement requiring a LIBOR cap of 6%. A non-qualifying LIBOR cap hedge with a notional value of approximately $6.0 million also matured during 2013. For the years ended December 31, 2014, 2013 and 2012, the change in fair value of the non-qualifying swaps was less than $(0.1) million, $(0.1) million and $(1.4) million, respectively, and was recorded in interest expense on the consolidated statements of income. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> The change in the fair value of qualifying interest rate swap cash flow hedges was recorded in accumulated other comprehensive loss on the consolidated balance sheets. These interest rate swaps are used to hedge the variable cash flows associated with existing variable-rate debt, and amounts reported in accumulated other comprehensive loss related to derivatives will be reclassified to interest expense as interest payments are made on our variable-rate debt. During the year ended December 31, 2014, two interest rate swaps matured with a combined notional value of approximately $32.0 million and the notional value on an interest rate swap decreased by approximately $15.0 million pursuant to the contractual terms of the respective swap agreement. During the year ended December 31, 2013, the notional value on an interest rate swap decreased by approximately $14.5 million pursuant to the contractual terms of the respective swap agreement. A qualifying LIBOR cap Hedge with a notional value of approximately $73.3 million also matured during 2013. As of December 31, 2014, we expect to reclassify approximately $(9.4) million of other comprehensive loss from qualifying cash flow hedges to interest expense over the next twelve months assuming interest rates on that date are held constant. These swap agreements must be effective in reducing the variability of cash flows of the hedged items in order to qualify for the aforementioned hedge accounting treatment. Gains and losses on terminated swaps are being deferred and recognized in earnings over the original life of the hedged item. As of December 31, 2014 and 2013, we had a net deferred loss of $1.1 million and $1.6 million, respectively, in accumulated other comprehensive loss related to these terminated swap agreements. We recorded $0.7 million, $0.9 million and $0.9 million as additional interest expense related to the amortization of the loss for the years ended December 31, 2014, 2013 and 2012, respectively, and $0.2 million as a reduction to interest expense related to the accretion of the net gains for each of the years ended December 31, 2014, 2013 and 2012. We expect to record approximately $0.5 million of net deferred loss to interest expense over the next twelve months. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> The fair value of non-qualifying forward contracts was $6.4 million as of December 31, 2013 and was recorded in other assets on the consolidated balance sheets and consisted of $66.0 million of RMBS investments, which is net of $1.5 million of net unrealized losses in fair value, and $59.6 million of repurchase financing. The RMBS investments were financed with repurchase agreements and were accounted for as linked transactions which are considered forward contracts. The repurchase agreements generally financed 80% - 90% of the purchase and bore interest at a rate of 125 to 175 basis points over LIBOR. During the year ended December 31, 2014, we sold the eight remaining RMBS investments, which were accounted for as linked transactions, with an aggregate carrying value of $65.7 million for approximately $65.8 million and recorded a net gain of $0.1 million related to the settlement of these linked transactions. During 2014, we received total principal paydowns on the RMBS of $2.7 million and paid down the associated repurchase agreements by $4.2 million, which includes a decrease in the amount financed on the repurchase agreements of $1.7 million. The eight RMBS investments were financed with repurchase agreements totaling $55.4 million which were repaid with the proceeds. For the years ended December 31, 2014 and 2013, we recorded $0.3 million and $1.9 million of net interest income, respectively, and a less than $0.1 million and $1.7 million decrease in fair value, respectively, to other income in the consolidated statements of income. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> In January 2015, CDO I and CDO II were unwound and the related basis and interest rate swaps with an aggregate notional value of $137.6 million and an aggregate fair value of $(4.3) million were terminated and recorded as a loss in the first quarter of 2015. See Note 7—"Debt Obligations—Collateralized Debt Obligations" for further details. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> The following table presents the effect of our derivative financial instruments on the statements of income as of December 31, 2014, 2013 and 2012 (in thousands): </font>
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<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amount of Loss</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Recognized</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">in Other</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Comprehensive Loss</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">(Effective Portion)</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">For the Year Ended</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, </font></p>
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<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amount of Loss</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Reclassified from</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Accumulated Other</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Comprehensive Loss into</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Interest Expense</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">(Effective Portion)</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">For the Year Ended</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, </font></p>
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<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amount of Loss</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Recognized</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">in Interest Expense</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">(Ineffective Portion)</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">For the Year Ended</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, </font></p>
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<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amount of (Loss)</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Gain Recognized</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">in Other Income</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">For the Year Ended</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, </font></p>
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<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Derivative </font></p>
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<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
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<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2012 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2012 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Non-Qualifying</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Basis Swaps / Caps</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(12
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(22
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Qualifying</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Interest Rate Swaps / Cap</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,318
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>520
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,699
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(12,654
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(14,131
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(16,565
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Non-Qualifying</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Forward Contracts</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(45
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,676
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;">
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</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The cumulative amount of other comprehensive loss related to net unrealized losses on derivatives designated as qualifying hedges as of December 31, 2014 and 2013 of approximately $(15.0) million and $(26.3) million, respectively, is a combination of the fair value of qualifying cash flow hedges of $(13.9) million and $(24.8) million, respectively, deferred losses on terminated interest swaps of $(1.2) million and $(1.9) million, respectively, and deferred net gains on termination of interest swaps of $0.1 million and $0.3 million, respectively. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We have agreements with certain of our derivative counterparties that contain a provision where if we default on any of our indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then we could also be declared in default on our derivative obligations. As of December 31, 2014 and 2013, the fair value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk related to these agreements, was $(9.2) million and $(13.8) million, respectively. As of December 31, 2014 and 2013, we had minimum collateral posting thresholds with certain of our derivative counterparties and had posted collateral of $9.6 million and $14.2 million, respectively, which is recorded in other assets in our consolidated balance sheets. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
7699000
520000
1318000
-16565000
-14131000
-12654000
-1334189
-1798161
41022
24794051
24794051
13908163
13908163
13908163
13908163
13908163
297532000
250321000
1500000
4300000
-13800000
-9200000
0
1
8
14
0
0
1
1
12
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Hedging Activities and Derivatives </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We recognize all derivatives as either assets or liabilities at fair value and these amounts are recorded in other assets or other liabilities on the consolidated balance sheets. Additionally, the fair value adjustments will affect either accumulated other comprehensive income (loss) until the hedged item is recognized in earnings, or net income (loss) depending on whether the derivative instrument qualifies as a hedge for accounting purposes and, if so, the nature of the hedging activity. We use derivatives for hedging purposes rather than speculation. Fair values are approximated based on current market data received from financial sources that trade such instruments and are based on prevailing market data and derived from third party proprietary models based on well recognized financial principles and reasonable estimates about relevant future market conditions. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. We may enter into derivative contracts that are intended to economically hedge certain of our risks, even though hedge accounting does not apply or we elect not to apply hedge accounting. The ineffective portion of a derivative's change in fair value is recognized immediately in earnings. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In connection with our interest rate risk management, we periodically hedge a portion of our interest rate risk by entering into derivative financial instrument contracts. Specifically, our derivative financial instruments are used to manage differences in the amount, timing, and duration of our expected cash receipts and our expected cash payments principally related to our investments and borrowings. Our objectives in using interest rate derivatives are to add stability to interest income and to manage our exposure to interest rate movements. To accomplish this objective, we primarily use interest rate swaps as part of our interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for us making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. We have entered into various interest rate swap agreements to hedge our exposure to interest rate risk on (i) variable rate borrowings as it relates to fixed rate loans; (ii) the difference between the CDO investor return being based on the three-month LIBOR index while the supporting assets of the CDO are based on the one-month LIBOR index; and (iii) use of LIBOR rate caps in loan agreements. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In the normal course of business, we may use a variety of derivative financial instruments to manage, or hedge, interest rate risk. We do not use derivatives for trading or speculative purposes. These derivative financial instruments must be effective in reducing our interest rate risk exposure in order to qualify for hedge accounting. When the terms of an underlying transaction are modified, or when the underlying hedged item ceases to exist, all changes in the fair value of the instrument are marked-to-market with changes in value included in net income for each period until the derivative instrument matures or is settled. Any derivative instrument used for risk management that does not meet the hedging criteria is marked-to-market with the changes in value included in net income. In cases where a derivative financial instrument is terminated early, any gain or loss is generally amortized over the remaining life of the hedged item. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In certain circumstances, we have financed the purchase of Residential Mortgage Backed Securities ("RMBS") investments through a repurchase agreement with the same counterparty, which qualified as a linked transaction. If both transactions were entered into contemporaneously or in contemplation of each other, the transactions were presumed to be linked transactions unless certain criteria were met, and we accounted for the purchase of such securities and the repurchase agreement on a combined basis as a forward contract derivative at fair value which was reported in other assets on the consolidated balance sheets with changes in the fair value of the assets and liabilities underlying linked transactions and associated interest income and expense reported in other income on the consolidated statements of income. The analysis of transactions under these rules required management's judgment and experience. The fair value of linked transactions reflected the value of the underlying RMBS, linked repurchase agreement borrowings and accrued interest receivable/payable on such instruments. Linked transactions are not designated as hedging instruments and, as a result, the change in the fair value and net interest income from linked transactions was reported in other income on the consolidated statements of income. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We have no master netting or similar arrangements and do not offset derivatives. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
3953455
500000
1603763
1374583
8031029
8031029
8031029
21326517
21326517
21326517
26029540
26029540
26029540
8031000
21327000
26030000
12236
12236
12236
12236
4506583
14500
4506583
4506583
14500
14500
14500
7256255
14698
7256255
7256255
14698
14698
14698
2667000
1370000
3200000
2441000
1456000
98058
100000
91988
36515
100000
0
2794087
2800000
2653333
2700000
0.80
0.20
0.39
0.07
0.08
0.07
0.12
1.71
0.23
1.26
0.10
0.79
0.19
0.39
0.07
0.08
0.07
0.12
1.70
0.23
1.26
0.10
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Earnings Per Share </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We present both basic and diluted earnings per share ("EPS"). Basic EPS excludes dilution and is computed by dividing net income available to common stockholders by the weighted average number of shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, where such exercise or conversion would result in a lower EPS amount. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Note 13—Earnings Per Share </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Basic EPS is calculated by dividing net income attributable to Arbor Realty Trust, Inc. by the weighted average number of shares of common stock outstanding during each period inclusive of unvested restricted stock with full dividend participation rights. Diluted EPS is calculated by dividing net income by the weighted average number of shares of common stock outstanding plus the additional dilutive effect of common stock equivalents during each period using the treasury stock method. Our common stock equivalents include the weighted average dilutive effect of warrants for the period of time that they were outstanding. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following is a reconciliation of the numerator and denominator of the basic and diluted EPS computations for the years ended December 31, 2014, 2013, and 2012, respectively. </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="17" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2012 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Basic </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Diluted </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Basic </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Diluted </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Basic </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Diluted </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Income from continuing operations, net of noncontrolling interest and preferred stock dividends</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>85,792,235
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>85,792,235
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,667,955
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,667,955
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,172,850
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,172,850
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Income from discontinued operations</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,328,038
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,328,038
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net income attributable to Arbor Realty Trust, Inc. common stockholders(1)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>85,792,235
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>85,792,235
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,667,955
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,667,955
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,500,888
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,500,888
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Weighted average number of common shares outstanding</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>50,143,648
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>50,143,648
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,399,872
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,399,872
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>26,956,938
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>26,956,938
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Dilutive effect of warrants(2)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>224,696
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>435,272
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>254,349
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Weighted average number of common shares outstanding</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>50,143,648
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>50,368,344
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,399,872
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,835,144
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>26,956,938
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27,211,287
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Income from continuing operations, net of noncontrolling interest and preferred stock dividends, per common share</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.71
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.70
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.39
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.39
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.60
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.59
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Income from discontinued operations per common share</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.20
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.20
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net income attributable to Arbor Realty Trust, Inc. per common share(1)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.71
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.70
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.39
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.39
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.80
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.79
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Net of noncontrolling interest and preferred stock dividends. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">On July 1, 2014, we acquired and canceled all of the warrants. See Note 12—"Equity" for further details. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
-0.038
0.350
0.350
0.350
0.098
0.018
0.023
-0.065
-0.011
-0.011
-0.005
0.410
0.357
0.368
2700000
1800000
400000
2000000
0.235
0.667
0.125
0.05
0.05
0.539
1.00
0.29
0
0
56000000
600000
600000
400000
1900000
49700000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Investments in Equity Affiliates </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We invest in joint ventures that are formed to acquire, develop and/or sell real estate assets. These joint ventures are not majority owned or controlled by us, or are VIEs for which we are not the primary beneficiary, and are not consolidated in our financial statements. These investments are recorded under either the equity or cost method of accounting as deemed appropriate. We record our share of the net income and losses from the underlying properties of our equity method investments and any other-than-temporary impairment on these investments on a single line item in the consolidated statements of income as income or losses from equity affiliates. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
730203000
681534000
-24097000
-32607000
4102000
4291000
754300000
714141000
730203000
681534000
-28199000
-36898000
-17115000
-13087000
-11600000
101767000
105077000
108113000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">The fair value of these assets and liabilities was determined using the following inputs as of December 31, 2014: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value Measurements</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Using Fair Value Hierarchy </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Level 1 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Level 2 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Level 3 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Financial assets:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Loans and investments, net</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,459,475,650
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,478,778,674
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,478,778,674
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:11pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Financial liabilities:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Credit facilities</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>180,386,200
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>179,964,341
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>179,964,341
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Collateralized debt obligations</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>331,395,126
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>240,541,397
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>240,541,397
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Collateralized loan obligation</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>458,250,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>459,673,750
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>459,673,750
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Senior unsecured notes</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>97,860,025
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>95,902,825
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>95,902,825
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Junior subordinated notes</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>159,833,260
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>102,600,561
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>102,600,561
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Notes payable</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,300,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,292,461
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,292,461
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Mortgage note payable—real estate owned and held-for-sale</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30,984,357
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,962,066
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,962,066
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">The fair value of these financial assets was determined using the following inputs as of December 31, 2014: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" rowspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value Measurements</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Using Fair Value Hierarchy </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" rowspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Net Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Level 1 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Level 2 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Level 3 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Financial assets:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Impaired loans, net(1)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>106,115,079
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>106,115,079
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>106,115,079
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">We had an allowance for loan losses of $115.5 million relating to 10 loans with an aggregate carrying value, before loan loss reserves, of approximately $221.6 million at December 31, 2014. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:00.94%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:21.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Available-for-sale</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Securities </font></p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:24.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Derivative Financial</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Instruments </font></p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Balance as of December 31, 2013</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:19.42%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,580,786
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.54%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:21.94%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,396,853
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Adjustments to fair value:</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.42%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.54%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:21.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Paydowns, net(1)</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.42%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(663,684
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:02.54%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:21.94%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,483,387
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net changes in fair value(2)</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.42%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(100,000
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:02.54%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:21.94%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>511,012
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Sales and settlements(3)</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.42%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(33,817,102
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:02.54%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:21.94%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(8,391,252
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:19.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:21.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Balance as of December 31, 2014</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:19.42%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,000,000
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.54%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:21.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">— </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:19.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:21.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:19.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:21.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Includes an addition of $1.7 million to the derivative financial instruments as a result of a decrease in the amount financed under the respective repurchase agreement. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Represents the net change in fair value recorded to other income during the year ended December 31, 2014. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(3)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Represents the sale of RMBS investments and the settlement of forward contract derivatives for which we recorded a gain of $0.5 million and $0.1 million, respectively, to other income during the year ended December 31, 2014. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Estimated</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Estimated</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Financial assets:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Loans and investments, net</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,459,475,650
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,478,778,674
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,523,699,653
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,550,248,793
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Available-for-sale securities</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,499,709
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,499,709
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>37,315,652
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>37,315,652
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Derivative financial instruments</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,995
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,995
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,402,336
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,402,336
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Financial liabilities:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Credit facilities and repurchase agreements</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>180,386,200
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>179,964,341
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>159,125,023
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>158,735,570
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Collateralized debt obligations</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>331,395,126
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>240,541,397
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>639,622,981
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>521,938,885
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Collateralized loan obligations</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>458,250,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>459,673,750
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>264,500,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>266,436,250
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Senior unsecured notes</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>97,860,025
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>95,902,825
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Junior subordinated notes</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>159,833,260
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>102,600,561
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>159,291,427
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>101,240,185
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Notes payable</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,300,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,292,461
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,500,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,487,287
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Mortgage note payable—real estate owned and held-for-sale</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30,984,357
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,962,066
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>53,751,004
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>52,943,305
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Derivative financial instruments</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,908,163
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,908,163
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>24,794,051
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>24,794,051
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Note 10—Fair Value </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Fair Value of Financial Instruments </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Fair value estimates are dependent upon subjective assumptions and involve significant uncertainties resulting in variability in estimates with changes in assumptions. The following table summarizes the carrying values and the estimated fair values of our financial instruments as of December 31, 2014 and 2013: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Estimated</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Estimated</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Financial assets:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Loans and investments, net</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,459,475,650
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,478,778,674
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,523,699,653
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,550,248,793
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Available-for-sale securities</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,499,709
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,499,709
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>37,315,652
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>37,315,652
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Derivative financial instruments</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,995
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,995
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,402,336
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,402,336
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Financial liabilities:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Credit facilities and repurchase agreements</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>180,386,200
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>179,964,341
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>159,125,023
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>158,735,570
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Collateralized debt obligations</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>331,395,126
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>240,541,397
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>639,622,981
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>521,938,885
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Collateralized loan obligations</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>458,250,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>459,673,750
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>264,500,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>266,436,250
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Senior unsecured notes</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>97,860,025
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>95,902,825
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Junior subordinated notes</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>159,833,260
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>102,600,561
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>159,291,427
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>101,240,185
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Notes payable</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,300,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,292,461
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,500,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,487,287
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Mortgage note payable—real estate owned and held-for-sale</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30,984,357
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,962,066
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>53,751,004
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>52,943,305
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Derivative financial instruments</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,908,163
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,908,163
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>24,794,051
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>24,794,051
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Fair Value Measurement </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Fair value is defined as the price at which an asset could be exchanged in a current transaction between knowledgeable, willing parties. A liability's fair value is defined as the amount that would be paid to transfer the liability to a new obligor, not the amount that would be paid to settle the liability with the creditor. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models are applied. These valuation techniques involve some level of management estimation and judgment, the degree of which is dependent on the price transparency for the instruments or market and the instruments' complexity. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Assets and liabilities disclosed at fair value are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities are as follows:</font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">•</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Level 1—Inputs are unadjusted and quoted prices exist in active markets for identical assets or liabilities at the measurement date. The types of assets and liabilities carried at Level 1 fair value generally are government and agency securities, equities listed in active markets, investments in publicly traded mutual funds with quoted market prices and listed derivatives. </font></p>
</td>
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<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">•</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Level 2—Inputs (other than quoted prices included in Level 1) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument's anticipated life. Level 2 inputs include quoted market prices in markets that are not active for an identical or similar asset or liability, and quoted market prices in active markets for a similar asset or liability. Fair valued assets and liabilities that are generally included in this category are non-government securities, municipal bonds, certain hybrid financial instruments, certain mortgage and asset-backed securities, certain corporate debt, certain commitments and guarantees, certain private equity investments and certain derivatives. </font></p>
</td>
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<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">•</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Level 3—Inputs reflect management's best estimate of what market participants would use in pricing the asset or liability at the measurement date. These valuations are based on significant unobservable inputs that require a considerable amount of judgment and assumptions. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. Generally, assets and liabilities carried at fair value and included in this category are certain mortgage and asset-backed securities, certain corporate debt, certain private equity investments, certain municipal bonds, certain commitments and guarantees and certain derivatives. </font></p>
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</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Determining which category an asset or liability falls within the hierarchy requires significant judgment and we evaluate our hierarchy disclosures each quarter. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following is a description of the valuation techniques used to measure fair value and the general classification of these instruments pursuant to the fair value hierarchy. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;"> Loans and investments, net:</font><font style="display: inline;font-family:Times;font-size:10pt;"> Fair values of loans and investments that are not impaired are estimated using Level 3 inputs based on discounted cash flow methodology, using discount rates, which, in the opinion of management, best reflect current market interest rates that would be offered for loans with similar characteristics and credit quality. Fair values of loans and investments that are impaired are estimated using Level 3 inputs by us that require significant judgments, which include assumptions regarding discount rates, capitalization rates, leasing, creditworthiness of major tenants, occupancy rates, availability of financing, exit plan, loan sponsorship, actions of other lenders and other factors deemed necessary by management. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;"> Available-for-sale securities:</font><font style="display: inline;font-family:Times;font-size:10pt;"> Fair values are approximated based on current market quotes received from active markets or financial sources that trade such securities. The fair values of available-for-sale equity securities traded in active markets are approximated using Level 1 inputs, while the fair values of available-for-sale debt securities that are approximated using current, non-binding market quotes received from financial sources that trade such investments are valued using Level 3 inputs. The fair values of RMBS investments at December 31, 2013 were approximated using Level 3 inputs that required significant judgments, and were used in internally developed valuation models, which were compared to current non-binding market quotes received from financial sources that trade such securities. The fair value of a CMBS security is estimated by us using Level 3 inputs that require significant judgments, which include assumptions regarding capitalization rates, leasing, creditworthiness of major tenants, occupancy rates, availability of financing, exit plan, loan sponsorship, actions of other lenders and other factors deemed necessary by management. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;"> Derivative financial instruments:</font><font style="display: inline;font-family:Times;font-size:10pt;"> Fair values of interest rate swap derivatives are approximated using Level 2 inputs based on current market data received from financial sources that trade such instruments and are based on prevailing market data and derived from third party proprietary models based on well recognized financial principles including counterparty risks, credit spreads and interest rate projections, as well as reasonable estimates about relevant future market conditions. These items are included in other assets and other liabilities on the consolidated balance sheets. We incorporate credit valuation adjustments in the fair values of our derivative financial instruments to reflect counterparty nonperformance risk. The fair values of RMBS underlying linked transactions at December 31, 2013 were estimated using Level 3 inputs based on internally developed valuation models, which are compared to broker quotations. The value of the underlying RMBS was then netted against the carrying amount (which approximates fair value) of the repurchase agreement borrowing at the valuation date. The fair value of linked transactions also included accrued interest receivable on the RMBS and accrued interest payable on the underlying repurchase agreement borrowings. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;"> Credit facilities, repurchase agreements, notes payable and mortgage notes payable:</font><font style="display: inline;font-family:Times;font-size:10pt;"> Fair values are estimated at Level 3 using discounted cash flow methodology, using discount rates, which, in the opinion of management, best reflect current market interest rates for financing with similar characteristics and credit quality. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;"> Collateralized debt obligations and collateralized loan obligations:</font><font style="display: inline;font-family:Times;font-size:10pt;"> Fair values are estimated at Level 3 based on broker quotations, representing the discounted expected future cash flows at a yield that reflects current market interest rates and credit spreads. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;"> Senior unsecured notes:</font><font style="display: inline;font-family:Times;font-size:10pt;"> Fair values are estimated at Level 1 based on current market quotes received from active markets. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;"> Junior subordinated notes:</font><font style="display: inline;font-family:Times;font-size:10pt;"> Fair values are estimated at Level 3 based on broker quotations, representing the discounted expected future cash flows at a yield that reflects current market interest rates and credit spreads. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We measure certain financial assets and financial liabilities at fair value on a recurring basis. The fair value of these financial assets and liabilities was determined using the following inputs as of December 31, 2014: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
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<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" rowspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value Measurements</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Using Fair Value Hierarchy </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" rowspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Level 1 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Level 2 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Level 3 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Financial assets:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Available-for-sale securities(1)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,499,709
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,499,709
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>499,709
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Derivative financial instruments</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,995
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,995
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,995
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Financial liabilities:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Derivative financial instruments</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,908,163
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,908,163
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,908,163
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Our equity securities were measured using Level 1 inputs and our CMBS investment was measured using Level 3 inputs. </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following roll forward table reconciles the beginning and ending balances of financial assets measured at fair value on a recurring basis using Level 3 inputs: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:00.94%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:21.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Available-for-sale</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Securities </font></p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:24.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Derivative Financial</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Instruments </font></p>
</td>
<td valign="bottom" style="width:01.26%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Balance as of December 31, 2013</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:19.42%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,580,786
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.54%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:21.94%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,396,853
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Adjustments to fair value:</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.42%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.54%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:21.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Paydowns, net(1)</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.42%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(663,684
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:02.54%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:21.94%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,483,387
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net changes in fair value(2)</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.42%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(100,000
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:02.54%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:21.94%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>511,012
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Sales and settlements(3)</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.42%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(33,817,102
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:02.54%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:21.94%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(8,391,252
</td>
<td valign="bottom" style="width:01.26%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:19.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:21.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Balance as of December 31, 2014</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:19.42%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,000,000
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.54%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:21.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">— </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:19.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:21.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:19.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:21.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Includes an addition of $1.7 million to the derivative financial instruments as a result of a decrease in the amount financed under the respective repurchase agreement. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Represents the net change in fair value recorded to other income during the year ended December 31, 2014. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(3)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Represents the sale of RMBS investments and the settlement of forward contract derivatives for which we recorded a gain of $0.5 million and $0.1 million, respectively, to other income during the year ended December 31, 2014. </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We measure certain financial and non-financial assets at fair value on a nonrecurring basis. The fair value of these financial assets was determined using the following inputs as of December 31, 2014: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" rowspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value Measurements</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Using Fair Value Hierarchy </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" rowspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Net Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Level 1 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Level 2 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Level 3 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Financial assets:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Impaired loans, net(1)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>106,115,079
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>106,115,079
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>106,115,079
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">We had an allowance for loan losses of $115.5 million relating to 10 loans with an aggregate carrying value, before loan loss reserves, of approximately $221.6 million at December 31, 2014. </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;"> Loan impairment assessments:</font><font style="display: inline;font-family:Times;font-size:10pt;"> Loans held for investment are intended to be held to maturity and, accordingly, are carried at cost, net of unamortized loan origination costs and fees, loan purchase discounts, and net of the allowance for loan losses when such loan or investment is deemed to be impaired. We consider a loan impaired when, based upon current information and events, it is probable that we will be unable to collect all amounts due for both principal and interest according to the contractual terms of the loan agreement. We perform evaluations of our loans to determine if the value of the underlying collateral securing the impaired loan is less than the net carrying value of the loan, which may result in an allowance and corresponding charge to the provision for loan losses. These valuations require significant judgments, which include assumptions regarding capitalization and discount rates, revenue growth rates, leasing, creditworthiness of major tenants, occupancy rates, availability of financing, exit plan, loan sponsorship, actions of other lenders and other factors deemed necessary by management. The table above includes all impaired loans, regardless of the period in which an impairment was recognized. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Quantitative information about Level 3 Fair Value Measurements on a recurring and non-recurring basis: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;">December 31, 2014 </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;">Fair Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;">Valuation</font><br /><font style="display: inline;font-family:Times;font-weight:bold;">Technique(s) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;">Significant</font><br /><font style="display: inline;font-family:Times;font-weight:bold;">Unobservable</font><br /><font style="display: inline;font-family:Times;font-weight:bold;">Inputs </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;">Rate/Range</font><br /><font style="display: inline;font-family:Times;font-weight:bold;">(Weighted Average) </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Financial assets:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Impaired loans(1):</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 18pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,762,816
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Direct capitalization analysis</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Discount rate</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">8.00%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">and discounted cash flows</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Capitalization rate</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">6.50% to 7.75% (7.06%)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Revenue growth rate</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">2.00%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt 18pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Office</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,525,829
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Discounted cash flows</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Discount rate</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">9.25% to 10.75% (9.72%)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Capitalization rate</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">8.00% to 9.00% (8.29%)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Revenue growth rate</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">2.50% to 3.00% (2.96%)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 18pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Land</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>66,276,475
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Discounted cash flows</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Discount rate</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">15.00%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Capitalization rate</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">7.25%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Revenue growth rate</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">3.00%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt 18pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Hotel</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30,549,959
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Discounted cash flows</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Discount rate</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">9.25%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Capitalization rate</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">7.25%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Revenue growth rate</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">3.00%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CMBS</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Discounted cash flows</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Discount rate</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">14.16%</font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Includes all impaired loans regardless of the period in which a loan loss provision was recorded. </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We measure certain assets and liabilities for which fair value is only disclosed. The fair value of these assets and liabilities was determined using the following inputs as of December 31, 2014: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value Measurements</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Using Fair Value Hierarchy </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Level 1 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Level 2 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Level 3 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Financial assets:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Loans and investments, net</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,459,475,650
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,478,778,674
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,478,778,674
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:11pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Financial liabilities:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Credit facilities</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>180,386,200
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>179,964,341
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>179,964,341
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Collateralized debt obligations</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>331,395,126
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>240,541,397
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>240,541,397
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Collateralized loan obligation</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>458,250,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>459,673,750
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>459,673,750
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Senior unsecured notes</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>97,860,025
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>95,902,825
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>95,902,825
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Junior subordinated notes</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>159,833,260
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>102,600,561
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>102,600,561
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Notes payable</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,300,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,292,461
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,292,461
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Mortgage note payable—real estate owned and held-for-sale</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30,984,357
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,962,066
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,962,066
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;">December 31, 2014 </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;">Fair Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;">Valuation</font><br /><font style="display: inline;font-family:Times;font-weight:bold;">Technique(s) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;">Significant</font><br /><font style="display: inline;font-family:Times;font-weight:bold;">Unobservable</font><br /><font style="display: inline;font-family:Times;font-weight:bold;">Inputs </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;">Rate/Range</font><br /><font style="display: inline;font-family:Times;font-weight:bold;">(Weighted Average) </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Financial assets:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Impaired loans(1):</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 18pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,762,816
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Direct capitalization analysis</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Discount rate</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">8.00%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">and discounted cash flows</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Capitalization rate</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">6.50% to 7.75% (7.06%)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Revenue growth rate</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">2.00%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt 18pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Office</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,525,829
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Discounted cash flows</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Discount rate</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">9.25% to 10.75% (9.72%)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Capitalization rate</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">8.00% to 9.00% (8.29%)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Revenue growth rate</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">2.50% to 3.00% (2.96%)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 18pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Land</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>66,276,475
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Discounted cash flows</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Discount rate</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">15.00%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Capitalization rate</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">7.25%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Revenue growth rate</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">3.00%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt 18pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Hotel</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30,549,959
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Discounted cash flows</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Discount rate</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">9.25%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Capitalization rate</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">7.25%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Revenue growth rate</font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">3.00%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CMBS</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Discounted cash flows</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Discount rate</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">14.16%</font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Includes all impaired loans regardless of the period in which a loan loss provision was recorded. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
0.0725
0.0725
0.0775
0.0650
0.0706
0.0900
0.0800
0.0829
0.0800
0.1416
0.0925
0.1500
0.1075
0.0925
0.0972
0.0200
0.0300
0.0300
0.0300
0.0250
0.0296
500000
100000
-100000
511012
33817102
8391252
663684
-1483387
36580786
6396853
2000000
1280289
2290714
1645465
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Loans, Investments and Securities </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Loans held for investment are intended to be held to maturity and, accordingly, are carried at cost, net of unamortized loan origination costs and fees, loan purchase discounts, and net of the allowance for loan losses when such loan or investment is deemed to be impaired. We invest in preferred equity interests that, in some cases, allow us to participate in a percentage of the underlying property's cash flows from operations and proceeds from a sale or refinancing. At the inception of each such investment, management must determine whether such investment should be accounted for as a loan, equity interest or as real estate. To date, management has determined that all such investments are properly accounted for and reported as loans. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> From time to time, we may enter into an agreement to sell a loan. These loans are considered held-for-sale and are valued at the lower of the loan's carrying amount or fair value less costs to sell. For the sale of loans, recognition occurs when ownership passes to the buyer. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> At the time of purchase, we designate a security as available-for-sale, held-to-maturity, or trading depending on our ability and intent to hold it to maturity. We do not have any securities designated as held-to-maturity or trading as of December 31, 2014. Securities available-for-sale are reported at fair value with the net unrealized gains or losses reported as a component of accumulated other comprehensive loss. Unrealized losses that are determined to be other-than-temporary are recognized in earnings up to their credit component. The determination of other-than-temporary impairment is a subjective process requiring judgments and assumptions and is not necessarily intended to indicate a permanent decline in value. The process may include, but is not limited to, assessment of recent market events and prospects for near-term recovery, assessment of cash flows, internal review of the underlying assets securing the investments, credit of the issuer and the rating of the security, as well as our ability and intent to hold the investment to maturity. Management closely monitors market conditions on which it bases such decisions. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We also assess certain of our securities, other than those of high credit quality, to determine whether significant changes in estimated cash flows or unrealized losses on these securities, if any, reflect a decline in value that is other-than-temporary and, accordingly, should be written down to their fair value against earnings. On a quarterly basis, we review these changes in estimated cash flows, which could occur due to actual prepayment and credit loss experience, to determine if an other-than-temporary impairment is deemed to have occurred. We calculate a revised yield based on the current amortized cost of the investment, including any other-than-temporary impairments recognized to date, and the revised yield is then applied prospectively to recognize interest income. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Securities that are purchased at a discount and that are not of high credit quality at the time of purchase are accounted for as debt securities acquired with deteriorated credit quality. Interest income on these securities is recognized using the effective interest method based on our estimates of expected cash flows to be received, which include assumptions related to fluctuations in prepayment speeds and the timing and amount of credit losses, which are reviewed on an ongoing basis. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="14" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Asset Class </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Balance </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Percentage</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">of Portfolio </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Wtd. Avg.</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Internal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Risk Rating </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">First Dollar</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">LTV Ratio </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Last Dollar</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">LTV Ratio </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,157,462,400
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>72.9
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.9
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>73
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Office</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>230,491,164
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14.5
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.3
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>79
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Land</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>128,367,601
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8.1
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.9
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>88
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Hotel</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>66,250,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.2
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.5
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>32
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>83
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Retail</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,158,333
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.2
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.5
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>72
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>80
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Commercial</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,700,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.1
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.5
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>63
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>67
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,587,429,498
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100.0
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.1
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>76
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="14" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Asset Class </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Balance </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Percentage</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">of Portfolio </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Wtd. Avg.</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Internal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Risk Rating </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">First Dollar</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">LTV Ratio </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Last Dollar</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">LTV Ratio </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,068,529,815
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>64.4
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.3
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>75
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Office</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>358,832,526
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21.6
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.2
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>32
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>82
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Land</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>116,751,563
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7.0
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.0
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>88
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Hotel</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>69,181,252
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.2
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.8
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>26
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>84
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Commercial</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>24,900,145
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.5
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.0
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>49
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Condo</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,250,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.9
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.7
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>41
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>65
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Retail</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,750,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.4
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.5
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>63
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,660,195,301
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100.0
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.3
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>77
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
18332383
10054539
8277844
40277757
32000000
8277757
50332383
42054539
8277844
41043556
32765799
8277757
85793466
7851266
77123133
819067
-200000
1800000
4100000
1100000
500000
518640
30459023
4615000
5819066
6445033
4777138
2554187
1200182
5048417
30459023
3763000
4930772
4930772
4930772
1167772
11000000
1603763
-199749
1803512
65700000
100000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Impaired Loans, Allowance for Loan Losses, Loss on Sale and Restructuring of Loans and Charge-offs </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We consider a loan impaired when, based upon current information and events, it is probable that we will be unable to collect all amounts due for both principal and interest according to the contractual terms of the loan agreement. We evaluate each loan in our portfolio on a quarterly basis. Our loans are individually specific and unique as it relates to product type, geographic location, and collateral type, as well as to the rights and remedies and the position in the capital structure our loans and investments have in relation to the underlying collateral. We evaluate all of this information as well as general market trends related to specific classes of assets, collateral type and geographic locations, when determining the appropriate assumptions such as capitalization and market discount rates, as well as the borrower's operating income and cash flows, in estimating the value of the underlying collateral when determining if a loan is impaired. We utilize internally developed valuation models and techniques primarily consisting of discounted cash flow and direct capitalization models in determining the fair value of the underlying collateral on an individual loan. We may also obtain a third party appraisal, which may value the collateral through an "as-is" or "stabilized value" methodology. Such appraisals may be used as an additional source of valuation information only and no adjustments are made to appraisals. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> If upon completion of the valuation, the fair value of the underlying collateral securing the impaired loan is less than the net carrying value of the loan, an allowance is created with a corresponding charge to the provision for loan losses. The allowance for each loan is maintained at a level that we believe to be adequate to absorb probable losses. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Loan terms may be modified if we determine that based on the individual circumstances of a loan and the underlying collateral, a modification would more likely increase the total recovery of the combined principal and interest from the loan. Any loan modification is predicated upon a goal of maximizing the collection of the loan. Typical triggers for a modification would include situations where the projected cash flow is insufficient to cover required debt service, when asset performance is lagging the initial projections, where there is a requirement for rebalancing, where there is an impending maturity of the loan, and where there is an actual loan default. Loan terms that have been modified have included, but are not limited to interest rate, maturity date and in certain cases, principal amount. Length and amounts of each modification have varied based on individual circumstances and are determined on a case by case basis. If the loan modification constitutes a concession whereas we do not receive ample consideration in return for the modification, and the borrower is experiencing financial difficulties and cannot repay the loan under the current terms, then the modification is considered by us to be a troubled debt restructuring. If we receive a benefit, either monetary or strategic, and the above criteria are not met, the modification is not considered to be a troubled debt restructuring. We record interest on modified loans on an accrual basis to the extent that the modified loan is contractually current. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Loss on restructured loans is recorded when we have granted a concession to the borrower in the form of principal forgiveness related to the payoff or the substitution or addition of a new debtor for the original borrower or when we incur costs on behalf of the borrower related to the modification, payoff or the substitution or addition of a new debtor for the original borrower. When a loan is restructured, we record our investment at net realizable value, taking into account the cost of all concessions at the date of restructuring. The reduction in the recorded investment is recorded as a separate line on the consolidated statements of income in the period in which the loan is restructured. In addition, a gain or loss may be recorded upon the sale of a loan to a third party in the consolidated statements of income in the period in which the loan was sold. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Charge-offs to the allowance for loan losses occur when losses are confirmed through the receipt of cash or other consideration from the completion of a sale; when a modification or restructuring takes place in which we grant a concession to a borrower or agree to a discount in full or partial satisfaction of the loan; when we take ownership and control of the underlying collateral in full satisfaction of the loan; when loans are reclassified as other investments; or when significant collection efforts have ceased and it is highly likely that a loss has been realized. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
106115079
106115079
106115079
2762816
30549959
66276475
6525829
122277411
50786697
47518270
23972444
115487320
36469894
3700000
51344982
23972444
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="14" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Asset Class </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Balance </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Allowance</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">for Loan</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Losses </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Average</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Recorded</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Investment(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Interest</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Income</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Recognized </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>39,239,894
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>39,232,710
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,469,894
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>52,487,834
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>763,208
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Office</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,086,582
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30,498,273
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>23,972,444
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,086,582
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,788,152
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Land</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>121,810,400
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>117,621,457
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>51,344,982
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>118,948,175
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Hotel</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>34,750,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>34,249,959
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,700,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,375,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>664,678
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>231,886,876
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>221,602,399
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>115,487,320
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>224,897,591
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,216,038
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="14" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Asset Class </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Balance </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Allowance</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">for Loan</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Losses </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Average</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Recorded</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Investment(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Interest</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Income</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Recognized </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>65,735,773
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>65,186,623
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>50,786,697
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>62,602,118
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,566,914
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Office</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,086,582
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,474,065
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>23,972,444
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>37,224,695
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,585,520
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Land</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>116,085,950
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>112,810,558
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>47,518,270
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>127,561,228
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>217,908,305
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>207,471,246
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>122,277,411
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>227,388,042
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,152,434
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Represents the unpaid principal balance of impaired loans less unearned revenue and other holdbacks and adjustments by asset class. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Represents an average of the beginning and ending unpaid principal balance of each asset class. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
101900000
117000000
227388042
62602118
127561228
37224695
224897591
52487834
17375000
118948175
36086582
4152434
2566914
1585520
3216038
763208
664678
1788152
217908305
65735773
116085950
36086582
231886876
39239894
34750000
121810400
36086582
19047949
-19047949
200000
100000
16172850
16667955
85792235
15586859
21298737
93048490
16388417
21298737
93048490
0.60
0.39
1.71
0.59
0.39
1.70
5328038
0.20
0.20
-697856
-800000
-81885
-204475
-81804
-81723
40937
40048
248658
40493
7900000
-51170
219287
800000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Note 15—Income Taxes </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We are organized and conduct our operations to qualify as a REIT and to comply with the provisions of the Internal Revenue Code with respect thereto. A REIT is generally not subject to federal income tax on taxable income which is distributed to its stockholders, provided that at least 90% of taxable income is distributed and provided that certain other requirements are met. We did not have REIT—federal taxable income net of dividends paid and net operating loss deductions for the years ended December 31, 2014, 2013 and 2012, and therefore, have not provided for federal income tax expense, except for $0.4 million of federal alternative minimum tax recorded in 2012. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> For the years ended December 31, 2014 and 2013, we did not incur any state tax expenses. For the 2009 and 2010 tax years, the income and the tax on certain debt extinguishment transactions was, at our election, deferred to be recognized ratably over five years from 2014 to 2018. We expect that our current and anticipated net operating losses will fully offset the income to be recognized over the five year period. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Certain of our assets or operations that would not otherwise comply with the REIT requirements, are owned or conducted by our taxable REIT subsidiaries, the income of which is subject to federal and state income taxes. We did not record a provision for current income taxes related to the assets that are held in taxable REIT subsidiaries for the years ended December 31, 2014, 2013 and 2012. For the year ended December 31, 2012, we recorded a $1.4 million income tax benefit for the receipt of a refund of federal income taxes paid by a taxable REIT subsidiary in a prior year. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> (Benefit) provision for income taxes was comprised as follows: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:01.06%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:35.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, </font></p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.06%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:06.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:01.04%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:06.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:01.04%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:20.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2012 </font></p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Current tax (benefit) provision:</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:18.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Federal</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:18.32%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,025,508
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">State</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:18.32%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>245,517
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total current tax (benefit) provision</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:18.32%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(779,991
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Deferred tax (benefit) provision:</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:18.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Federal—net of valuation allowance</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:18.32%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(13,695
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">State—net of valuation allowance</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:18.32%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(7,872
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total deferred tax (benefit) provision</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:18.32%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(21,567
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total (benefit) provision</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:18.32%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(801,558
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> A reconciliation of our effective income tax rate as a percentage of pretax income or loss to the U.S. federal statutory rate is as follows: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:27.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, </font></p>
</td>
<td valign="bottom" style="width:03.68%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:07.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:02.62%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:07.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:02.62%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:07.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2012 </font></p>
</td>
<td valign="bottom" style="width:03.68%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">U.S. federal statutory rate</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35.0
</td>
<td valign="bottom" style="width:02.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35.0
</td>
<td valign="bottom" style="width:02.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35.0
</td>
<td valign="bottom" style="width:03.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">REIT non-taxable income</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(36.8
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(35.7
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(41.0
</td>
<td valign="bottom" style="width:03.68%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">State and local income taxes, net of federal tax benefit</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.5
</td>
<td valign="bottom" style="width:02.62%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1.1
</td>
<td valign="bottom" style="width:02.62%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1.1
</td>
<td valign="bottom" style="width:03.68%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Change in valuation allowance</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.3
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.8
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9.8
</td>
<td valign="bottom" style="width:03.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Refund</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6.5
</td>
<td valign="bottom" style="width:03.68%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:06.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:06.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:06.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Effective income tax rate</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3.8
</td>
<td valign="bottom" style="width:03.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:06.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:06.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:06.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:06.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:06.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:06.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The significant components of deferred tax assets (liabilities) were as follows: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:00.88%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:35.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, </font></p>
</td>
<td valign="bottom" style="width:01.18%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.88%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:01.18%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:01.18%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Deferred tax assets (liabilities):</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Expenses not currently deductible</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,541,807
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,585,723
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net operating and capital loss carryforwards</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,279,854
</td>
<td valign="bottom" style="width:01.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,534,018
</td>
<td valign="bottom" style="width:01.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Interest in equity affiliates—net</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,079,375
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,489,269
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Deferred tax assets</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,742,286
</td>
<td valign="bottom" style="width:01.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,630,472
</td>
<td valign="bottom" style="width:01.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Valuation allowance</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(7,742,286
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(5,608,905
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net deferred tax asset</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,567
</td>
<td valign="bottom" style="width:01.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> At December 31, 2014, our taxable REIT subsidiaries, on a consolidated basis (the "TRS Group"), had approximately $8.8 million of deferred tax assets consisting of expenses not currently deductible and net operating and capital loss carryforwards. Our TRS Group's deferred tax assets are offset by approximately $1.1 million in deferred tax liabilities consisting of timing differences from investments in equity affiliates, and a valuation allowance of approximately $7.7 million. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> At December 31, 2013, our TRS Group had approximately $7.1 million of deferred tax assets consisting of expenses not currently deductible, net operating loss and capital loss carryforwards. Our TRS Group's deferred tax assets are offset by approximately $1.5 million in deferred tax liabilities consisting of timing differences from investments in equity affiliates, and a valuation allowance of approximately $5.6 million. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> As of December 31, 2014, we (excluding the TRS Group) will have approximately $174.0 million of federal and state net operating loss carryforwards and approximately $4.4 million of capital loss carryforwards. The net operating losses will expire through 2033 and the capital losses will expire through 2017. In 2014, we recorded $85.1 million in capital gain primarily from the redemption of our membership interest in the 450 West 33</font><font style="display: inline;font-family:Times;font-size:10pt;font-size:5pt;top:-4pt;position:relative;line-height:100%">rd</font><font style="display: inline;font-family:Times;font-size:10pt;"> Street investment. The capital gain was wholly offset by available capital loss carryforwards. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The TRS Group has federal and state net operating loss carryforwards as of December 31, 2014 and 2013 of approximately $11.9 million and $13.0 million, respectively, which will expire through 2034 and 2033, respectively. This amount includes federal and state capital loss carryovers as of December 31, 2014 of approximately $2.4 million, of which $2.0 million will expire in 2017 and $0.4 million will expire in 2018. We have concluded that it is more likely than not that the net operating and capital loss carryforwards will not be utilized during the carryforward period, and as such, net of deferred tax liabilities, we have established a valuation allowance against all of the net deferred tax assets. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We have assessed our tax positions for all open tax years, which includes 2011 to 2014, and concluded there were no material uncertainties to be recognized. Our accounting policy with respect to interest and penalties related to tax uncertainties is to classify these amounts as provision for income taxes. We have not recognized any interest and penalties related to tax uncertainties for the years ended December 31, 2014, 2013 and 2012. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
1159076
462356
80101
-801558
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Income Taxes </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We organize and conduct our operations to qualify as a REIT and to comply with the provisions of the Internal Revenue Code with respect thereto. A REIT is generally not subject to federal income tax on taxable income that is distributed to its stockholders, provided that it distributes at least 90% of its REIT taxable income and meets certain other requirements. Certain REIT income may be subject to state and local income taxes. Our assets or operations that would not otherwise comply with the REIT requirements are owned or conducted by our taxable REIT subsidiaries, the income of which is subject to federal and state income tax. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Current accounting guidance clarifies the accounting for uncertainty in income taxes recognized in a company's financial statements. This guidance prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. This guidance also provides clarity on derecognition, classification, interest and penalties, accounting in interim periods and disclosure. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
1400000
3062425
5305848
5687545
-942064
5759559
2212738
254349
435272
224696
40866832
42065151
47903458
39131930
12346578
56966472
13996043
15097248
15526603
14320477
58812886
14269832
17323926
12898651
79998762
99031623
106716344
2200000
1500000
1300000
100000
200000
300000
1500000
1100000
500000
300000
1600000
100000
3100000
200000
300000
900000
3800000
200000
1200000
300000
900000
300000
100000
100000
200000
38566933
46717669
42756229
-9400000
11477676
14381733
1900000
300000
2939465
4680306
92199
578000
425000
100
1894727
1690280
0
100000
4869066
98578
578000
425000
100
1894727
1872661
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:00.84%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:30.52%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Investments in Equity</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Affiliates at </font></p>
</td>
<td valign="bottom" style="width:00.82%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:18.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid Principal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Balance of Loans</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">to Equity</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Affiliates at </font></p>
</td>
<td valign="bottom" style="width:00.82%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Equity Affiliates </font></p>
</td>
<td valign="bottom" style="width:00.84%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:14.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31,</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:00.82%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31,</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:00.82%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:18.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31,</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:00.82%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Lightstone Value Plus REIT L.P</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,894,727
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,894,727
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">West Shore Café</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,872,661
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,690,280
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,687,500
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Issuers of Junior Subordinated Notes</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>578,000
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>578,000
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">JT Prime</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>425,000
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>425,000
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">East River Portfolio</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>98,578
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,994,166
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Lexford Portfolio</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>112,740,000
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">930 Flushing & 80 Evergreen</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>92,199
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">450 West 33</font><font style="display: inline;font-family:Times;font-size:10pt;font-size:5pt;top:-4pt;position:relative;line-height:100%">rd</font><font style="display: inline;font-family:Times;font-size:10pt;"> Street</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Ritz-Carlton Club</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">— </font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:16.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,869,066
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,680,306
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:16.58%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>119,421,666
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:16.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.64%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:16.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.82%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Note 4—Securities </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following is a summary of our securities classified as available-for-sale at December 31, 2014: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.34%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:00.66%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:00.66%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amortized</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cost </font></p>
</td>
<td valign="bottom" style="width:00.66%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cumulative</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unrealized</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">(Loss) / Gain </font></p>
</td>
<td valign="bottom" style="width:00.88%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value /</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Estimated</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value </font></p>
</td>
<td valign="bottom" style="width:00.66%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.34%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Commercial mortgage-backed security (CMBS)</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.46%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.46%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:09.50%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(100,000
</td>
<td valign="bottom" style="width:00.88%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.46%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,000,000
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Common equity securities</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.46%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.46%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>58,789
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.50%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>440,920
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.46%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>499,709
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.34%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total available-for-sale securities</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.46%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.46%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,158,789
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:09.50%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>340,920
</td>
<td valign="bottom" style="width:00.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.46%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,499,709
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following is a summary of our securities classified as available-for-sale at December 31, 2013: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amortized</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cost </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cumulative</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unrealized</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Gain </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cumulative</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unrealized</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Loss </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value /</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Estimated</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Residential mortgage-backed security (RMBS)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>39,013,690
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>34,049,310
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>437,774
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,298
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>34,480,786
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Commercial mortgage-backed security (CMBS)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Common equity securities</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>58,789
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>676,077
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>734,866
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total available-for-sale securities</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>41,113,690
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,208,099
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,113,851
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,298
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>37,315,652
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following is a summary of the underlying credit rating of our available-for-sale debt securities at December 31, 2014 and 2013: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:38.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:03.62%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:40.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:03.62%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Rating(1) </font></p>
</td>
<td valign="bottom" style="width:01.10%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:05.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"># </font></p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:19.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amortized</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cost </font></p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Percent</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">of Total </font></p>
</td>
<td valign="bottom" style="width:03.62%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:05.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"># </font></p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:21.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amortized</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cost </font></p>
</td>
<td valign="bottom" style="width:01.08%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Percent</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">of Total </font></p>
</td>
<td valign="bottom" style="width:03.62%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">AA+</font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:17.38%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.34%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:19.54%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>93,715
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CCC</font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:17.38%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.34%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.54%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,417,402
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>51
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CCC–</font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.36%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:17.38%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:03.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.34%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.54%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6
</td>
<td valign="bottom" style="width:03.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">NR</font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:17.38%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.34%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.54%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,538,193
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>43
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:17.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:19.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.36%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:17.38%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:03.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.34%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>11
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:19.54%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,149,310
</td>
<td valign="bottom" style="width:01.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.40%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:03.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:17.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:19.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:13.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:17.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:19.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Based on the rating published by Standard & Poor's for each security. NR stands for "not rated." </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In the first quarter of 2014, we sold all of our RMBS investments, which had an aggregate carrying value of $33.4 million, for approximately $33.9 million and recorded a net gain of $0.5 million to other income, net on our consolidated statement of income, which includes the reclassification of a net unrealized gain of $0.4 million from accumulated other comprehensive loss on our consolidated balance sheet. Included in these sales were two RMBS investments with deteriorated credit quality that had an aggregate carrying value of $25.8 million and that were sold for $25.9 million. The RMBS investments were financed with two repurchase agreements totaling $25.3 million which were repaid with the proceeds. See Note 7—"Debt Obligations" for further details. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> During the fourth quarter of 2013, our RMBS investments were reclassified as available-for-sale from held-to-maturity as a result of a change in intent to hold the securities to maturity due to management's decision to redeploy capital into the core lending business. Accordingly, we reclassified RMBS investments with a carrying amount of $34.0 million, to available-for-sale at their estimated fair value of $34.4 million, with a net unrealized gain of $0.4 million recorded in accumulated other comprehensive loss on our consolidated balance sheet. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We own a CMBS investment, purchased at a premium in 2010 for $2.1 million, which is collateralized by a portfolio of hotel properties. The CMBS investment bears interest at a spread of 89 basis points over LIBOR, has a stated maturity of six years, but has an estimated life of approximately one year based on the extended maturity of the underlying asset and a fair value of $2.0 million and $2.1 million at December 31, 2014 and 2013, respectively. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We own 2,939,465 shares of common stock of CV Holdings, Inc., formerly Realty Finance Corporation, a commercial real estate specialty finance company, which had a fair value of approximately $0.5 million and $0.7 million at December 31, 2014 and 2013, respectively. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Available-for-sale securities are carried at their estimated fair value with unrealized gains and losses reported in accumulated other comprehensive loss. We evaluate these securities periodically to determine whether a decline in their value is other-than-temporary, though such a determination is not intended to indicate a permanent decline in value. Our evaluation is based on our assessment of cash flows, which is supplemented by third-party research reports, internal review of the underlying assets securing the investments, levels of subordination and the ratings of the securities and the underlying collateral. No other-than-temporary impairment was recorded on our available-for-sale securities for the years ended December 31, 2014, 2013 and 2012. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The weighted average yield on our CMBS and RMBS investments based on their face values was 1.80% and 4. 29%, including the amortization of premium and the accretion of discount, for the years ended December 31, 2014 and 2013, respectively. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
159291427
159291427
101240185
159300000
159833260
159833260
159833260
102600561
102600561
102600561
159800000
10173572
12042332
13978223
1439876200
1344967119
1877472482
1880422590
0.01
0.01
0.00125
0.0045
0.0013
0.0035
0.00
0.0035
0.08
0.085
0.075
50000000
15000000
20000000
50000000
40000000
48000000
75000000
33000000
45000000
110000000
75000000
60000000
15000000
1800000
100000000
150000000
0.0022
0.01
0.01
0.01
0.085
0.00
185381855
161706313
122277411
115487320
111100000
46500000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;">Note 3—Loans and Investments </font>
</p>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following table sets forth the composition of our loan and investment portfolio at December 31, 2014 and 2013: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31,</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Percent of</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Total </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Loan</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Count </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Wtd. Avg.</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Pay Rate(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Wtd. Avg.</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Remaining</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Months to</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Maturity </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">First</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dollar</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">LTV</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Ratio(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Last</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dollar</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">LTV</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Ratio(3) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Bridge loans</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,273,439,238
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>80
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>101
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.19
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19.8
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>74
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Mezzanine loans</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>76,392,650
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9.78
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>37.1
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>47
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>81
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Junior participation loans</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>104,091,952
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.62
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12.3
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>86
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>88
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Preferred equity investments</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>133,505,658
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6.11
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45.5
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>62
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>84
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,587,429,498
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>139
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.45
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>22.3
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>76
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Unearned revenue</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(12,466,528
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Allowance for loan losses</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(115,487,320
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Loans and investments, net</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,459,475,650
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31,</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Percent of</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Total </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Loan</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Count </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Wtd. Avg.</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Pay Rate(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Wtd. Avg.</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Remaining</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Months to</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Maturity </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">First</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dollar</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">LTV</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Ratio(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Last</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dollar</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">LTV</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Ratio(3) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Bridge loans</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,171,783,914
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>71
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>95
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.11
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18.5
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>76
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Mezzanine loans</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>118,550,172
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7.02
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>58.2
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>56
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>83
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Junior participation loans</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>248,337,542
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.21
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19.6
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>60
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>81
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Preferred equity investments</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>121,523,673
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7.20
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45.5
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>58
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>79
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,660,195,301
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>144
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.26
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>23.5
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>77
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
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<tr style="CellSpacing:0;">
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<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Unearned revenue</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(14,218,237
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<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Allowance for loan losses</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
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<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(122,277,411
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</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Loans and investments, net</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
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</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,523,699,653
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<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
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<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
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</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
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<font style="display: inline;font-family:Times;">(1)</font></p>
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<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">"Weighted Average Pay Rate" is a weighted average, based on the unpaid principal balances of each loan in our portfolio, of the interest rate that is required to be paid monthly as stated in the individual loan agreements. Certain loans and investments that require an additional rate of interest "Accrual Rate" to be paid at the maturity are not included in the weighted average pay rate as shown in the table. </font></p>
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<font style="display: inline;font-family:Times;">(2)</font></p>
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<font style="display: inline;font-family:Times;">The "First Dollar LTV Ratio" is calculated by comparing the total of our senior most dollar and all senior lien positions within the capital stack to the fair value of the underlying collateral to determine the point at which we will absorb a total loss of our position. </font></p>
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<font style="display: inline;font-family:Times;">(3)</font></p>
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<font style="display: inline;font-family:Times;">The "Last Dollar LTV Ratio" is calculated by comparing the total of the carrying value of our loan and all senior lien positions within the capital stack to the fair value of the underlying collateral to determine the point at which we will initially absorb a loss. </font></p>
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<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Bridge loans are loans to borrowers who are typically seeking short-term capital to be used in an acquisition of a property and are predominantly secured by first mortgage liens on the property. </font>
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<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Mezzanine loans and junior participating interests in senior debt are loans that are subordinate to a conventional first mortgage loan and senior to the borrower's equity in a transaction. Mezzanine financing may take the form of loans secured by pledges of ownership interests in entities that directly or indirectly control the real property or subordinated loans secured by second mortgage liens on the property. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> A preferred equity investment is another method of financing in which preferred equity investments in entities that directly or indirectly own real property are formed. In cases where the terms of a first mortgage prohibit additional liens on the ownership entity, investments structured as preferred equity in the entity owning the property serve as viable financing substitutes. With preferred equity investments, we typically become a member in the ownership entity. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Concentration of Credit Risk </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We operate in one portfolio segment, commercial mortgage loans and investments. Commercial mortgage loans and investments can potentially subject us to concentrations of credit risk. We are subject to concentration risk in that, as of December 31, 2014, the unpaid principal balance related to 31 loans with five different borrowers represented approximately 23% of total assets. At December 31, 2013, the unpaid principal balance related to 28 loans with five different borrowers represented approximately 30% of total assets. In addition, in 2014 and 2013, no single loan or investment represented 10% of our total assets. In 2013, we generated approximately 11% of revenue from the Chetrit Group L.L.C. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We measure our relative loss position for our mezzanine loans, junior participation loans, and preferred equity investments by determining the point where we will be exposed to losses based on our position in the capital stack as compared to the fair value of the underlying collateral. We determine our loss position on both a first dollar loan-to-value ("LTV") and a last dollar LTV basis. First dollar LTV is calculated by comparing the total of our senior most dollar and all senior lien positions within the capital stack to the fair value of the underlying collateral to determine the point at which we will absorb a total loss of our position. Last dollar LTV is calculated by comparing the total of the carrying value of our loan and all senior lien positions within the capital stack to the fair value of the underlying collateral to determine the point at which we will initially absorb a loss. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We assign a credit risk rating to each loan and investment. Individual ratings range from one to five, with one being the lowest risk and five being the highest. Each credit risk rating has benchmark guidelines that pertain to debt-service coverage ratios, LTV ratios, borrower strength, asset quality, and funded cash reserves. Other factors such as guarantees, market strength, remaining loan term, and borrower equity are also reviewed and factored into determining the credit risk rating assigned to each loan. This metric provides a helpful snapshot of portfolio quality and credit risk. Given our asset management approach, however, the risk rating process does not result in differing levels of diligence contingent upon credit rating. That is because all portfolio assets are subject to the level of scrutiny and ongoing analysis consistent with that of a "high-risk" loan. All assets are subject to, at minimum, a thorough quarterly financial evaluation in which historical operating performance is reviewed, and forward-looking projections are created. Generally speaking, given our typical loan and investment profile, a risk rating of three suggests that we expect the loan to make both principal and interest payments according to the contractual terms of the loan agreement, and is not considered impaired. A risk rating of four indicates we anticipate that the loan will require a modification of some kind. A risk rating of five indicates we expect the loan to underperform over its term, and there could be loss of interest and/or principal. Ratings of 3.5 and 4.5 generally indicate loans that have characteristics of both the immediately higher and lower classifications. Further, while the above are the primary guidelines used in determining a certain risk rating, subjective items such as borrower strength, condition of the market of the underlying collateral, additional collateral or other credit enhancements, or loan terms, may result in a rating that is higher or lower than might be indicated by any risk rating matrix. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> As a result of the loan review process at December 31, 2014 and 2013, we identified loans and investments that we consider higher-risk loans that had a carrying value, before loan loss reserves, of approximately $189.4 million and $187.5 million, respectively, and a weighted average last dollar LTV ratio of 94% and 93%, respectively. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> A summary of the loan portfolio's weighted average internal risk ratings and LTV ratios by asset class as of December 31, 2014 and 2013 is as follows: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="14" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Asset Class </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Balance </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Percentage</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">of Portfolio </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Wtd. Avg.</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Internal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Risk Rating </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">First Dollar</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">LTV Ratio </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Last Dollar</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">LTV Ratio </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,157,462,400
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>72.9
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.9
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>73
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Office</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>230,491,164
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14.5
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.3
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>79
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Land</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>128,367,601
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8.1
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.9
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>88
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Hotel</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>66,250,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.2
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.5
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>32
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>83
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Retail</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,158,333
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.2
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.5
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>72
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>80
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Commercial</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,700,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.1
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.5
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>63
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>67
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,587,429,498
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100.0
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.1
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>76
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="14" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Asset Class </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Balance </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Percentage</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">of Portfolio </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Wtd. Avg.</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Internal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Risk Rating </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">First Dollar</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">LTV Ratio </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Last Dollar</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">LTV Ratio </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,068,529,815
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>64.4
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.3
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>75
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Office</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>358,832,526
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21.6
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.2
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>32
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>82
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Land</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>116,751,563
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7.0
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.0
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>88
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Hotel</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>69,181,252
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4.2
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.8
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>26
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>84
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Commercial</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>24,900,145
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.5
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.0
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>49
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Condo</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,250,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.9
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.7
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>41
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>65
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Retail</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,750,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.4
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.5
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>63
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,660,195,301
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100.0
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.3
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>77
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Geographic Concentration Risk </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> As of December 31, 2014, 28%, 14% and 10% of the outstanding balance of our loans and investments portfolio had underlying properties in New York, Florida and Texas, respectively. As of December 31, 2013, 36%, 10% and 8% of the outstanding balance of our loans and investments portfolio had underlying properties in New York, Texas and Florida, respectively. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Impaired Loans and Allowance for Loan Losses </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We perform an evaluation of the loan portfolio quarterly to assess the performance of our loans and whether a reserve for impairment should be recorded. We consider a loan impaired when, based upon current information and events, it is probable that we will be unable to collect all amounts due for both principal and interest according to the contractual terms of the loan agreement. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> During the year ended December 31, 2014, we determined that the fair value of the underlying collateral securing four impaired loans with an aggregate carrying value of $151.9 million was less than the net carrying value of the loans, resulting in a $9.0 million provision for loan losses. In addition, during 2014, we recorded $9.3 million of net recoveries of previously recorded loan loss reserves resulting in a $(0.3) million net recovery provision. These recoveries were recorded in provision for loan losses on the consolidated statements of income. Of the $9.0 million of loan loss reserves recorded during 2014, $3.8 million was attributable to loans on which we had previously recorded reserves, while $5.2 million of reserves related to other loans in our portfolio. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> During the year ended December 31, 2013, we determined that the fair value of the underlying collateral securing five impaired loans with an aggregate carrying value of $31.5 million was less than the net carrying value of the loans, resulting in a $6.5 million provision for loan losses. In addition, during 2013, we recorded $2.2 million of net recoveries of previously recorded loan loss reserves resulting in a net $4.3 million provision for loan losses. Of the $6.5 million of loan loss reserves recorded during 2013, $1.0 million was attributable to loans on which we had previously recorded reserves, while $5.5 million of reserves related to other loans in our portfolio. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> During the year ended December 31, 2012 we determined that the fair value of the underlying collateral securing eight impaired loans with an aggregate carrying value of $94.6 million was less than the net carrying value of the loans, resulting in a $23.8 million provision for loan losses. In addition, during 2012, we recorded $0.9 million of net recoveries of previously recorded loan loss reserves resulting in a net provision for loan losses of $22.9 million. Of the $23.8 million of loan loss reserves recorded during 2012, $18.9 million was attributable to loans on which we had previously recorded reserves, while $4.9 million of reserves related to other loans in our portfolio. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> At December 31, 2014, we had a total of ten loans with an aggregate carrying value, before loan loss reserves, of $221.6 million for which impairment reserves have been recorded. At December 31, 2013, we had a total of 15 loans with an aggregate carrying value, before loan loss reserves, of $207.5 million for which impairment reserves have been recorded. At December 31, 2012, we had a total of 20 loans with an aggregate carrying value, before loan loss reserves, of $240.2 million for which impairment reserves have been recorded. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> A summary of the changes in the allowance for loan losses is as follows: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:00.66%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:50.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended </font></p>
</td>
<td valign="bottom" style="width:00.90%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.66%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:00.90%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:00.90%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2012 </font></p>
</td>
<td valign="bottom" style="width:00.90%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Allowance at beginning of the period</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>122,277,411
</td>
<td valign="bottom" style="width:00.90%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>161,706,313
</td>
<td valign="bottom" style="width:00.90%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>185,381,855
</td>
<td valign="bottom" style="width:00.90%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Provision for loan losses</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,026,712
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,500,000
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>23,828,224
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Charge-offs</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,501,079
</td>
<td valign="bottom" style="width:00.90%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(24,713,459
</td>
<td valign="bottom" style="width:00.90%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(46,585,800
</td>
<td valign="bottom" style="width:00.90%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Charge-off on loan converted to other assets</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(19,000,000
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Recoveries of reserves</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(9,315,724
</td>
<td valign="bottom" style="width:00.90%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,215,443
</td>
<td valign="bottom" style="width:00.90%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(917,966
</td>
<td valign="bottom" style="width:00.90%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Allowance at end of the period</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>115,487,320
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>122,277,411
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:14.84%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>161,706,313
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:47.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.90%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Fiscal 2014 charge-off activity was comprised of a $6.5 million charge-off to previously recorded reserves from the write-off of a mezzanine loan and a bridge loan that had an aggregate carrying value of $11.9 million. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Fiscal 2013 charge-off activity was comprised of a $23.2 million charge-off to previously recorded reserves from the write-off of several loans that had an aggregate carrying value of $23.2 million; a $19.0 million charge-off in connection with the transfer of land that was held as collateral for a $25.0 million loan to other assets at a fair value of $6.0 million; and a $1.5 million charge-off in connection with receiving proceeds of $4.4 million from the sale of a $5.9 million bridge loan. The land transferred to other assets is 20.5 acres of usable land and 2.3 acres of submerged land located on the banks of the St. John's River in downtown Jacksonville, Florida and is currently zoned for the development of up to 60 dwellings per acre. This land was held as collateral by a joint venture that we assumed full ownership of and the related loan was consolidated. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Fiscal 2012 charge-off activity was comprised of a $42.8 million charge-off to previously recorded reserves from the write-off of several loans that had an aggregate carrying value of $43.4 million; and a $3.8 million charge-off to previously recorded reserves as a result of us receiving principal payoffs of $1.6 million on two loans with a total carrying value of $5.5 million. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> A summary of charge-offs and recoveries is as follows: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:00.64%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:47.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended </font></p>
</td>
<td valign="bottom" style="width:03.00%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.64%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.58%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:02.14%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:14.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:03.00%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:14.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2012 </font></p>
</td>
<td valign="bottom" style="width:03.00%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Charge-offs:</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,501,079
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(4,789,815
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(10,773,141
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Office</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,252,129
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(5,812,659
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Land</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(19,000,000
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Hotel</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3,671,515
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(30,000,000
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Condo</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(10,000,000
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">— </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,501,079
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(43,713,459
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(46,585,800
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Recoveries:</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(7,815,724
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,510,949
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(121,898
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Office</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,500,000
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(704,494
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(796,068
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(9,315,724
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,215,443
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(917,966
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net Recoveries (Charge-offs)</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,814,645
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(41,498,016
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(45,667,834
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Ratio of net charge-offs during the period to average loans and investments outstanding during the period</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.18%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.2
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2.6
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)%</font></p>
</td>
<td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3.0
</td>
<td valign="bottom" style="width:03.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.80%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> There were no loans for which the collateral securing the loan was less than the carrying value of the loan for which we had not recorded a provision for loan loss as of December 31, 2014, 2013 and 2012. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We have six loans with an unpaid principal balance totaling approximately $117.0 million at December 31, 2014, which mature in September 2017, that are collateralized by a land development project. The loans do not carry a pay rate of interest, but four of the loans with an unpaid principal balance totaling approximately $101.9 million entitle us to a weighted average accrual rate of interest of approximately 9.60%. We suspended the recording of the accrual rate of interest on these loans, as these loans were impaired and management deemed the collection of this interest to be doubtful. We have recorded cumulative allowances for loan losses of $46.5 million related to these loans as of December 31, 2014. The loans are subject to certain risks associated with a development project including, but not limited to, availability of construction financing, increases in projected construction costs, demand for the development's outputs upon completion of the project, and litigation risk. Additionally, these loans were not classified as non-performing as the borrower is in compliance with all of the terms and conditions of the loans. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> A summary of our impaired loans by asset class is as follows: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="14" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Asset Class </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Balance </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Allowance</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">for Loan</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Losses </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Average</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Recorded</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Investment(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Interest</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Income</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Recognized </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>39,239,894
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>39,232,710
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,469,894
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>52,487,834
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>763,208
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Office</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,086,582
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30,498,273
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>23,972,444
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,086,582
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,788,152
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Land</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>121,810,400
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>117,621,457
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>51,344,982
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>118,948,175
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Hotel</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>34,750,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>34,249,959
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,700,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,375,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>664,678
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>231,886,876
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>221,602,399
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>115,487,320
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>224,897,591
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,216,038
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="14" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Asset Class </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Balance </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Allowance</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">for Loan</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Losses </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Average</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Recorded</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Investment(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Interest</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Income</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Recognized </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>65,735,773
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>65,186,623
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>50,786,697
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>62,602,118
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,566,914
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Office</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,086,582
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,474,065
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>23,972,444
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>37,224,695
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,585,520
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Land</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>116,085,950
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>112,810,558
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>47,518,270
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>127,561,228
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>217,908,305
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>207,471,246
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>122,277,411
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>227,388,042
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,152,434
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Represents the unpaid principal balance of impaired loans less unearned revenue and other holdbacks and adjustments by asset class. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Represents an average of the beginning and ending unpaid principal balance of each asset class. </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> As of December 31, 2014, three loans with an aggregate net carrying value of approximately $7.0 million, net of related loan loss reserves on two of the loans of $34.0 million, were classified as non-performing. Income from non-performing loans is generally recognized on a cash basis only to the extent it is received. Full income recognition will resume when the loan becomes contractually current and performance has recommenced. As of December 31, 2013, five loans with an aggregate net carrying value of approximately $10.7 million, net of related loan loss reserves of $39.6 million, were classified as non-performing, of which one loan with a carrying value of $0.6 million did not have a loan loss reserve. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> A summary of our non-performing loans by asset class as of December 31, 2014 and 2013 is as follows: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Asset Class </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Less Than</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">90 Days</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Past Due </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Greater Than</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">90 Days</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Past Due </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Less Than</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">90 Days</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Past Due </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Greater Than</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">90 Days</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Past Due </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>32,765,799
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>765,799
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>32,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,054,539
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>32,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,054,539
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Office</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,277,757
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,277,757
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,277,844
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,277,844
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>41,043,556
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>765,799
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>40,277,757
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>50,332,383
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>32,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,332,383
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> At December 31, 2014, we did not have any loans contractually past due 90 days or more that are still accruing interest. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> During the year ended December 31, 2014, we refinanced and/or modified one loan with an aggregate unpaid principal balance of $35.0 million which was considered by us to be a troubled debt restructuring. During the year ended December 31, 2013, we refinanced and/or modified four loans with an aggregate unpaid principal balance of $52.5 million, which were not considered by us to be troubled debt restructurings; however, two loans with a combined unpaid principal balance of $14.6 million that were extended during 2013 were considered to be trouble debt restructurings. We had no unfunded commitments on the modified and extended loans which were considered troubled debt restructurings as of December 31, 2014 and 2013. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> A summary of loan modifications and extensions by asset class that we considered to be troubled debt restructurings during the year ended December 31, 2014 and 2013 were as follows: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="14" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Asset Class </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Number</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">of Loans </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Original</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Balance </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Original</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Weighted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Average</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Rate of</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Interest </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Modified</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Balance </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Modified</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Weighted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Average</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Rate of</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Interest </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Hotel</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.95
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>34,750,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.95
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="14" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Asset Class </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Number</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">of Loans </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Original</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Balance </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Original</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Weighted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Average</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Rate of</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Interest </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Modified</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Balance </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Modified</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Weighted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Average</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Rate of</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Interest </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,192,666
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.96
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,192,666
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.96
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Office</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,400,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8.24
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,400,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8.24
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,592,666
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7.27
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,592,666
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7.27
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> There were no loans in which we considered the modifications to be troubled debt restructurings that were subsequently considered non-performing as of December 31, 2014 and 2013 and no additional loans were considered to be impaired due to our troubled debt restructuring analysis for the years ended December 31, 2014 and 2013. These loans were modified to increase the total recovery of the combined principal and interest from the loan. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> As of December 31, 2014, we had total interest reserves of $14.1 million on 55 loans with an aggregate unpaid principal balance of $734.0 million. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
0.0550
0.0500
0.0600
0.0725
0.0500
0.0600
0.0550
0.0480
0.0480
0.0790
0.055
0.0279
0.0725
0.0125
0.1181
0.0323
0.1200
0.0500
0.1185
0.0300
0.0450
0.0400
0.0790
0.0310
one-month LIBOR
one-month LIBOR
one-month LIBOR
one-month LIBOR
one-month LIBOR
one-month LIBOR
one-month LIBOR
LIBOR
LIBOR
LIBOR
LIBOR
LIBOR
Libor
LIBOR
LIBOR
LIBOR
LIBOR
LIBOR
one-month LIBOR
6000000
716100000
3
2
73
2
217922
217922
2055972
2055972
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;text-align:center;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;font-family:Times;"> </font>
</p>
<p style="margin:5pt 0pt;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">SCHEDULE IV—LOANS AND OTHER LENDING INVESTMENTS </font>
</p>
<p style="margin:5pt 0pt;text-align:center;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">DECEMBER 31, 2014 </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Type </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Location </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Periodic</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Payment</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Terms(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Maturity</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Date(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Interest Pay</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Rate</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Index(3) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Prior Liens </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amount(4) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amount(5) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amount</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Subject to</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Delinquent</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Interest </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:7.5pt;">Bridge Loans:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td colspan="18" valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:9pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Bridge loans in excess of 3% of carrying amount of total loans:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<br /><font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Various</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">IO</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">2016 - 2017</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">LIBOR + 3.23% - 11.81%</font><br /><font style="display: inline;font-family:Times;font-size:7.5pt;">Floor 0.25%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>178,346,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>174,120,560
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td colspan="18" valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:9pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Bridge loans less than 3% of carrying amount of total loans(6):</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<br /><font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Various</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">IO</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">2015 - 2020</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">LIBOR + 3.00% - 11.85%</font><br /><font style="display: inline;font-family:Times;font-size:7.5pt;">Floor 0.15% - 0.26%</font><br /><font style="display: inline;font-family:Times;font-size:7.5pt;">Fixed 10.00% - 13.00%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>802,582,333
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>798,144,788
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>765,799
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Office</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Various</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">IO</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">2015 - 2020</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">LIBOR + 3.10% - 7.90%</font><br /><font style="display: inline;font-family:Times;font-size:7.5pt;">Floor 0.24% - 1.50%</font><br /><font style="display: inline;font-family:Times;font-size:7.5pt;">Fixed 6.30%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>146,976,273
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>143,025,778
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,277,757
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Land</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Various</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">IO</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">2016 - 2017</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">LIBOR + 4.00% - 4.50%</font><br /><font style="display: inline;font-family:Times;font-size:7.5pt;">Floor 0.15%</font><br /><font style="display: inline;font-family:Times;font-size:7.5pt;">Fixed 8.75% - 11.64%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,855,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>114,034,632
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>72,022,619
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Hotel</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Various</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">IO / PI</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">2016</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">LIBOR + 7.25%</font><br /><font style="display: inline;font-family:Times;font-size:7.5pt;">Floor 0.25%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>31,500,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>31,353,725
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,855,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,095,093,238
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,044,546,910
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,043,556
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td colspan="5" valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Total Bridge Loans</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,855,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,273,439,238
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,218,667,470
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,043,556
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:9pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:7.5pt;">Mezzanine Loans:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:9pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:9pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:9pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:9pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<br /><font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<br /><font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<br /><font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<br /><font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td colspan="18" valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:9pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Mezzanine loans less than 3% of carrying amount of total loans(6):</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<br /><font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Various</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">IO / PI</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">2015 - 2027</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">LIBOR + 5.00% - 12.00%</font><br /><font style="display: inline;font-family:Times;font-size:7.5pt;">Floor 0.21% - 2.50%</font><br /><font style="display: inline;font-family:Times;font-size:7.5pt;">Fixed 4.00% - 18.00%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>211,019,323
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>54,482,409
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>51,746,925
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Office</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Various</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">IO / PI</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">2015</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Fixed 9.39%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>90,515,596
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,418,939
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,418,268
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Land</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">CA</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">IO</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">2017</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,332,969
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Retail</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">FL</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">PI</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">2024</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Fixed 12.00%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>32,600,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,158,333
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,158,333
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td colspan="5" valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Total Mezzanine Loans</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>334,134,919
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>76,392,650
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>64,323,526
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:9pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:7.5pt;">Junior Participations:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:9pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:9pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:9pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:9pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<br /><font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<br /><font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<br /><font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<br /><font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td colspan="18" valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:9pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Junior participation loans less than 3% of carrying amount of total loans(6):</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<br /><font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Office</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Various</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">IO / PI</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">2015 - 2017</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Fixed 4.00% - 10.07%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,313,297,516
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>72,091,952
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,820,790
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Various</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">IO</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">2015</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">LIBOR + 1.25%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>185,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>32,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td colspan="5" valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Total Junior Participations</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,498,297,516
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>104,091,952
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,820,790
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Type </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Location </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Periodic</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Payment</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Terms(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Maturity</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Date(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Interest Pay</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Rate</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Index(3) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Prior Liens </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amount(4) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amount(5) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amount</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Subject to</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Delinquent</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Interest </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td colspan="5" valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:7.5pt;">Preferred Equity Loans:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td colspan="18" valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:9pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Preferred equity loans less than 3% of carrying amount of total loans(6):</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<br /><font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Various</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">IO</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">2015 - 2024</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Fixed 2.36% - 15.00%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>654,532,914
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>90,051,658
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>89,957,756
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Hotel</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">NY</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">IO</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">2019</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Libor + 2.79%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,500,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>34,750,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>31,050,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Land</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">NY</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">IO</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">2015</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Fixed 11.00%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,950,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,972,417
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Office</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">SC</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">IO</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">2024</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Fixed 15.00%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,300,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,004,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,983,691
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Commercial</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">NY</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">IO</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">2017</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Fixed 6.00%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,792,384
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,700,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,700,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td colspan="5" valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Total Preferred Equity Loans</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>756,075,298
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>133,505,658
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>129,663,864
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Total Loans</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,591,362,733
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,587,429,498
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,459,475,650
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,043,556
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">IO = Interest Only, PI = Principal and Interest. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Maturity date does not include possible extensions. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">(3)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">References to LIBOR are to one-month LIBOR unless specifically stated otherwise. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">(4)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">During 2014, a $35.0 million loan was modified to $34.8 million and $596.5 million of loans were extended. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">(5)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">The federal income tax basis is approximately $1.5 billion. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">(6)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Individual loans each have a carrying value less than 3% of total loans. </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following table reconciles our loans and investments carrying amounts for the periods indicated: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:00.64%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:49.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, </font></p>
</td>
<td valign="bottom" style="width:00.86%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.64%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:00.86%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:00.86%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:16.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2012 </font></p>
</td>
<td valign="bottom" style="width:00.86%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Balance at beginning of year</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,523,699,653
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,325,667,053
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,302,440,660
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Additions during period:</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">New loan originations</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>900,666,405
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>591,537,200
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>275,633,168
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Funding of unfunded loan commitments(1) </font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>907,052
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>322,926
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,271,166
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Accretion of unearned revenue</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,976,577
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,385,999
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,794,627
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Loan charge-offs</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,501,079
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>24,713,459
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,585,800
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Recoveries of reserves</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,315,724
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,215,443
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>917,966
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Charge-off on loan converted to other assets</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19,000,000
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Deductions during period:</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Loan payoffs</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(941,279,252
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(324,358,463
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(171,822,185
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Proceeds and receivables from sale of loans</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(4,424,097
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(17,945,000
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Proceeds used against junior loan participations</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(34,000,000
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Loan paydowns</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(26,558,929
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(54,261,753
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(13,889,148
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Use of loan charge-offs</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,501,079
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(24,713,459
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(46,585,800
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Loan converted to other assets</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(25,000,000
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Provision for loan losses</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(9,026,712
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,500,000
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(23,828,224
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Unearned revenue and costs</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3,224,868
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(5,884,655
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,905,977
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Balance at end of year</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,459,475,650
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,523,699,653
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:14.78%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,325,667,053
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:48.54%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:14.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">In accordance with certain loans and investments, we have outstanding unfunded commitments that we are obligated to fund as the borrowers meet certain requirements. Specific requirements include but are not limited to property renovations, building construction, and building conversions based on criteria met by the borrower in accordance with the loan agreements. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
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<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Recently Issued Accounting Pronouncements </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In January 2015, the Financial Accounting Standards Board ("FASB") eliminated the concept of extraordinary items and thus the requirement to assess whether an event or transaction require extraordinary classification on the financial statements. The guidance is effective for the first quarter of 2016. We expect to early adopt this new guidance in the first quarter of 2015 and we do not expect it to have a material effect on our consolidated financial statements. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In June 2014, the FASB issued updated guidance that changes how repurchase agreements determined to be linked transactions are recorded. Under the new guidance, the repurchase agreement is to be accounted for separately from the initial transfer of the financial asset and not as a forward contract derivative. The guidance is effective for transactions outstanding as of the first quarter of 2015. We do not expect this guidance to have a material effect on our consolidated financial statements. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In May 2014, the FASB issued updated guidance on the recognition of revenue relating to the transfer of goods, services and non-financial assets. This guidance does not pertain to financial instrument contracts and thus does not have a material effect on our consolidated financial statements. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In April 2014, the FASB issued updated guidance that changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. Under the new guidance, a discontinued operation is defined as a disposal of a component or group of components that is disposed of or is classified as held for sale and represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results. As a result of this new guidance, future dispositions of real estate owned assets may no longer meet the criteria to be considered as discontinued operations. The guidance is effective prospectively as of the first quarter of 2015, with early adoption permitted for new disposals or new classifications as held-for-sale. We early adopted this new guidance in the first quarter of 2014 and it did not have a material effect on our consolidated financial statements. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
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2
2
2
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174000000
11900000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Note 1—Description of Business </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Arbor Realty Trust, Inc. is a Maryland corporation that was formed in June 2003 to invest in a diversified portfolio of multifamily and commercial real estate related assets, primarily consisting of bridge and mezzanine loans, including junior participating interests in first mortgage loans, preferred and direct equity. We may also directly acquire real property and invest in real estate-related notes and certain mortgage-related securities. We conduct substantially all of our operations through our operating partnership, Arbor Realty Limited Partnership ("ARLP"), and ARLP's wholly-owned subsidiaries. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We organize and conduct our operations to qualify as a real estate investment trust ("REIT") for federal income tax purposes. A REIT is generally not subject to federal income tax on its REIT-taxable income that it distributes to its stockholders, provided that it distributes at least 90% of its REIT-taxable income and meets certain other requirements. Certain of our assets that produce non-qualifying income are owned by our taxable REIT subsidiaries, the income of which is subject to federal and state income taxes. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> On July 1, 2003, Arbor Commercial Mortgage, LLC (our "Manager") contributed $213.1 million of structured finance assets and $169.2 million of borrowings supported by $43.9 million of equity in exchange for a commensurate equity ownership in ARLP. In addition, certain employees of our Manager were transferred to ARLP. At that time, these assets, liabilities and employees represented a substantial portion of our Manager's structured finance business. We are externally managed and advised by our Manager and pay our Manager a management fee in accordance with a management agreement. Our Manager also sources originations, provides underwriting services, and services all structured finance assets on behalf of ARLP and its wholly owned subsidiaries. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
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431476
431476
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-14131036
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6018515
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6056465
60842515
13944737
49332212
7385474
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Asset Class </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Less Than</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">90 Days</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Past Due </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Greater Than</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">90 Days</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Past Due </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Less Than</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">90 Days</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Past Due </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Greater Than</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">90 Days</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Past Due </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>32,765,799
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>765,799
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>32,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,054,539
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>32,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,054,539
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Office</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,277,757
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,277,757
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,277,844
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,277,844
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>41,043,556
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>765,799
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>40,277,757
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>50,332,383
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>32,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,332,383
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
61541697
75139934
2032106
20700000
684764
2600000
8031029
21326517
26029540
12236
4036481
14500
7096880
14698
2819710
5037806
10573245
2520616
4788877
285919
4206576
8004139
4714838
250000
44000
44000
257505
526499
69041570
29024327
217922
175559
0.125
0.0825
0.0775
0.085
0.0825
0.125
0.0825
0.0775
0.0825
0.0775
0.085
0.125
0.085
0.0825
0.0775
0.085
533328
4506583
1152617
1410333
1410305
1590930
7256255
1888465
1888430
1888430
1.719
1.087
1.719
1.087
2.063
1.938
1.617
2.063
1.938
1.617
0.515625
0.484375
0.515625
0.484375
0.5549
0.515625
0.484375
0.53125
0.515625
0.484375
0.53125
0.515625
0.484375
0.53125
25.00
25.00
25.00
38787500
31500000
22500000
38787500
31500000
22500000
0.01
0.01
100000000
100000000
1551500
1260000
0
1551500
1260000
900000
1551500
1260000
0
1551500
1260000
900000
67654655
89295905
19000000
19047949
7200000
120800000
34100000
56800000
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98100000
330608
62500
9094313
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80653523
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39200000
45600000
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52900000
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32500000
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70287500
33600000
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97860025
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402080235
23820781
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55895146
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663684
2700000
2100000
25900000
33900000
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7900000
3100000
1100000
65800000
17945000
4424097
26443882
21912729
1400000
0
21716455
215567
21500888
21500888
7227218
21298737
124199
21174538
21174538
4202316
5091727
4777476
7465691
93048490
93048490
93048490
13354522
65290551
6937726
22946396
4287652
-308511
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Note 17—Summary Quarterly Consolidated Financial Information—Unaudited </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following tables represent summarized quarterly financial data for the years ended December 31, 2014 and 2013 which, in the opinion of management, reflects all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of our results of operations. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Net income shown agrees with our quarterly reports on Form 10-Q as filed with the SEC. However, individual line items vary from such reports due to the presentation of discontinued operations being retroactively reclassified from property operating activity. </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="11" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Three Months Ended </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">September 30, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">June 30, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">March 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net interest income</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,898,651
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,323,926
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,269,832
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,320,477
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total other revenue</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,056,465
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,962,195
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,151,570
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,116,484
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total other expenses</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,859,256
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,819,835
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,958,639
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,011,318
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Income before gain on sale of equity interests, incentive management fee, gain (loss) on sale of real estate, net and income (loss) from equity affiliates</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,095,860
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,466,286
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,462,763
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,425,643
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Gain on sale of equity interests</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>819,067
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>77,123,133
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,851,266
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Incentive management fee—equity interest—related party</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(19,047,949
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Gain (loss) on sale of real estate, net</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,803,512
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(199,749
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Income (loss) from equity affiliates</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>219,287
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(51,170
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>40,493
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>40,048
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net income</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,937,726
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>65,290,551
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,354,522
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,465,691
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Preferred stock dividends</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,888,430
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,888,430
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,888,465
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,590,930
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net income attributable to Arbor Realty Trust, Inc. common stockholders</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,049,296
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>63,402,121
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>11,466,057
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,874,761
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Basic earnings per common share(1):</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.10
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.26
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.23
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.12
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Diluted earnings per common share(1):</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.10
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.26
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.23
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.12
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="11" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Three Months Ended </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">September 30, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">June 30, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">March 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net interest income</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,526,603
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,097,248
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,996,043
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,346,578
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total other revenue</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,018,515
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,287,428
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,837,139
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,274,892
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total other expenses</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,808,579
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,378,998
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,549,062
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19,075,367
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Income before gain on extinguishment of debt and income (loss) from equity affiliates</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,736,539
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,005,678
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,284,120
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,546,103
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Gain on extinguishment of debt</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,167,772
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,763,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Income (loss) from equity affiliates</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>40,937
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(81,723
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(81,804
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(81,885
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net income</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,777,476
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,091,727
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,202,316
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,227,218
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Preferred stock dividends</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,410,305
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,410,333
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,152,617
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>533,328
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net income attributable to noncontrolling interest</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,715
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>53,833
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>53,651
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net income attributable to Arbor Realty Trust, Inc. common stockholders</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,367,171
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,664,679
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,995,866
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,640,239
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Basic earnings per common share(1):</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.07
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.08
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.07
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.20
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Diluted earnings per common share(1):</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.07
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.08
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.07
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.19
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">The total for the year may differ from the sum of the quarters as a result of weighting. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;">Note 6—Real Estate Owned and Held-For-Sale </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Real Estate Owned </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Multifamily</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Portfolio </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Hotel</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Portfolio </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Total </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Multifamily</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Portfolio </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Hotel</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Portfolio </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Total </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Land</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,538,844
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,393,651
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,932,495
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>11,382,579
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,893,651
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>22,276,230
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Building and intangible assets</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>31,249,869
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>58,818,891
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>90,068,760
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,115,430
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>61,632,645
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>107,748,075
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Less:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Accumulated depreciation and amortization</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(7,414,267
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(12,661,347
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(20,075,614
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(8,598,915
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(9,707,213
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(18,306,128
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Real estate owned, net</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,374,446
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>55,551,195
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>84,925,641
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>48,899,094
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>62,819,083
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>111,718,177
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Our real estate owned assets were comprised of three multifamily properties (the "Multifamily Portfolio") and four hotel properties (the "Hotel Portfolio") at December 31, 2014, and six multifamily properties and five hotel properties at December 31, 2013. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In July 2014, a property in the Multifamily Portfolio was sold to a third party for $3.1 million. In connection with this sale, we recorded a loss on sale of $0.2 million and a reduction of the mortgage note payable of $3.4 million. During the first quarter of 2014, we recorded an impairment loss of $0.3 million related to this property as a result of an impairment analysis based on the indicators of value from the market participants. In the third quarter of 2014, three properties in the Multifamily Portfolio were classified as held-for sale with a total carrying value of $26.4 million and a first lien mortgage of $23.8 million and in the fourth quarter of 2014, a property in the Hotel Portfolio was classified as held-for-sale with a carrying value of $5.0 million. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In the second quarter of 2014, a property in the Multifamily Portfolio with a carrying value of $11.4 million and a first lien mortgage of $11.0 million was reclassified from real estate held-for-sale to real estate owned, net as a proposed sale for this property failed to close and the property no longer met the requirements for classification as discontinued operations or real estate held-for-sale. In connection with this reclassification, we recorded depreciation of $0.3 million in the second quarter of 2014. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> As of December 31, 2014 and 2013, the Multifamily Portfolio had a mortgage note payable of $21.9 million and $42.7 million, respectively. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Real Estate Held-For-Sale </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> As described above, during the third quarter of 2014, three properties in the Multifamily Portfolio were classified as held-for sale with a carrying value of $26.4 million and a first lien mortgage of $23.8 million and during the fourth quarter of 2014, a property in the Hotel Portfolio was classified as held-for sale with a carrying value of $5.0 million. In the fourth quarter of 2014, two Multifamily Portfolio properties classified as held-for-sale with a combined carrying value of $16.5 million were sold for a net gain of approximately $1.8 million. In the first quarter of 2015, we sold the remaining held-for-sale property in our Multifamily Portfolio and the property in the Hotel Portfolio for a total of approximately $18.8 million and expect to recognize a gain of approximately $4.1 million. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The results of operations for properties classified as held-for-sale are summarized as follows: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:55.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, </font></p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2012 </font></p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Revenue:</font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Property operating income</font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,530,400
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,292,340
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,717,530
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Expenses:</font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Property operating expense</font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,053,586
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,256,997
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,014,230
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Depreciation</font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,604,030
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,683,253
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,418,355
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net Loss</font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(127,216
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(647,910
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(715,055
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> During the year ended December 31, 2012, we sold an apartment building in Tucson, Arizona and a hotel in St. Louis, Missouri and recorded a net gain on sale of real estate held-for-sale of $3.5 million in our consolidated statements of income. Additionally, one of the properties in the Hotel Portfolio was sold to a third party and we recorded a gain on sale of $0.5 million, and we surrendered an office building in Indianapolis, Indiana to the first mortgage lender in full satisfaction of the mortgage note payable and recorded income from discontinued operations of $1.2 million related to the reversal of accrued liabilities which were not incurred. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> As of December 31, 2014, 2013 and 2012, our Multifamily Portfolio had a weighted average occupancy rate of approximately 90%, 85% and 85%, respectively. As of December 31, 2014, 2013 and 2012, our Hotel Portfolio had a weighted average occupancy rate of approximately 51%, 48% and 48%, respectively. For the years ended December 31, 2014, 2013 and 2012, our Hotel Portfolio had a weighted average daily rate of approximately $76, $79 and $86, respectively, and a weighted average revenue per available room of approximately $39, $38 and $41, respectively. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Our real estate assets had restricted cash balances totaling $1.7 million and $0.9 million as of December 31, 2014 and 2013, respectively, due to escrow requirements. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
26400000
23800000
16500000
5000000
18800000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;"></font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:55.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, </font></p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.00%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2012 </font></p>
</td>
<td valign="bottom" style="width:01.30%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Revenue:</font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Property operating income</font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,530,400
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,292,340
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,717,530
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Expenses:</font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Property operating expense</font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,053,586
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,256,997
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,014,230
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Depreciation</font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,604,030
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,683,253
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,418,355
</td>
<td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net Loss</font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(127,216
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(647,910
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(715,055
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:42.60%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.00%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.94%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.30%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
18306128
8598915
9707213
20075614
7414267
12661347
107748075
22276230
46115430
61632645
11382579
10893651
90068760
14932495
31249869
58818891
5538844
9393651
111718177
111718177
80787215
48899094
62819083
11400000
84925641
84925641
80732144
29374446
55551195
30173754
30127260
32641249
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Reclassifications out of accumulated other comprehensive loss for the years ended December 31, 2014 and 2013 were as follows: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:00.64%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" rowspan="2" valign="bottom" style="width:28.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, </font></p>
</td>
<td valign="bottom" style="width:00.86%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:19.72%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:00.86%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:19.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Statement of Income Caption </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.64%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:00.86%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net realized losses on derivatives designated as cash flow hedges:</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Interest Rate Swaps</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.44%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(10,706,246
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.44%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(14,131,036
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:19.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Interest expense(1) </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:19.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:19.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net realized gain on sale of available-for-sale investments:</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:9pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">RMBS investments</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.44%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>431,476
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.44%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100,000
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:9pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Other income(2) </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:19.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:19.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">See Note 8—"Derivative Financial Instruments" for additional details. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">See Note 4—"Securities" for additional details. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
10000000
10000000
10900000
10900000
9900000
9900000
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Note 14—Agreements and Transactions with Related Parties </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Management Agreement </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We, ARLP and Arbor Realty SR, Inc. have a management agreement with our Manager, pursuant to which our Manager provides certain services and we pay our Manager a base management fee and under certain circumstances, an annual incentive fee. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Our chief executive officer is also our Manager's chief executive officer and controlling equity owner and our chief financial officer and treasurer is also our Manager's chief financial officer. Our Manager has agreed to provide us with structured finance investment opportunities and loan servicing as well as other services necessary to operate our business. We rely to a significant extent on the facilities and resources of our Manager to conduct our operations. Our Manager's management of us is under the direction or supervision of our Board of Directors. The management agreement requires our Manager to manage our business affairs in conformity with the policies and the general investment guidelines that are approved and monitored by our Board of Directors. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We and our operating partnership have also entered into a services agreement with our Manager pursuant to which our asset management group provides asset management services to our Manager. In the event the services provided by our asset management group pursuant to the agreement exceed by more than 15% per quarter the level of activity anticipated by the Board of Directors, we will negotiate in good faith with our Manager an adjustment to the Manager's base management fee under the management agreement, to reflect the scope of the services, the quantity of serviced assets or the time required to be devoted to the services by our asset management group. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The base management fee is an arrangement whereby we reimburse our Manager for its actual costs incurred in managing our business based on the parties' agreement in advance on an annual budget with subsequent quarterly true-ups to actual costs. We retain all origination fees on investments. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The incentive fee is calculated as (1) 25% of the amount by which (a) our funds from operations per share, adjusted for certain gains and losses including gains from the retirement and restructuring of debt and 60% of any loan loss reserve recoveries (spread over a three year period), exceeds (b) the product of (x) 9.5% per annum or the Ten Year U.S. Treasury Rate plus 3.5%, whichever is greater, and (y) the greater of $10.00 or the weighted average of book value of the net assets contributed by our Manager to ARLP per ARLP partnership unit, the offering price per share of our common equity in the private offering on July 1, 2003 and subsequent offerings and the issue price per ARLP partnership unit for subsequent contributions to ARLP, multiplied by (2) the weighted average of our outstanding shares. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The minimum return, or incentive fee hurdle to be reached before an incentive fee is earned, is a percentage applied on a per share basis to the greater of $10.00 or the average gross proceeds per share. In addition, 60% of any loan loss and other reserve recoveries are eligible to be included in the incentive fee calculation, which recoveries are spread over a three year period. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The management agreement also allows us to consider, from time to time, the payment of additional "success-based" fees to our Manager for accomplishing certain specified corporate objectives; has a termination fee of $10.0 million; and is renewable automatically for successive one-year terms, unless terminated with six months prior written notice. If we terminate or elect not to renew the management agreement without cause, we are required to pay the termination fee of $10.0 million. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Our Manager is responsible for all costs incident to the performance of its duties under the management agreement, including compensation of its employees, rent for facilities and other "overhead" expenses. We are required to pay our Manager management fees as well as reimburse our Manager for all expenses incurred on our behalf in connection with the raising of capital or the incurrence of debt, interest expenses, taxes and license fees, litigation and extraordinary or non-recurring expenses. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Our Manager, pursuant to the management agreement, and Mr. Kaufman, pursuant to his non-competition agreement, have granted us a right of first refusal to pursue all opportunities identified by them or their affiliates to invest in multifamily and commercial mortgage loans and customized financing transactions, including bridge loans, mezzanine loans, preferred equity investments, note acquisitions and participation interests in owners of real properties (collectively, "Structured Finance Investments") as long as such investment opportunities are consistent with our investment objectives and guidelines and such investments would not adversely affect our status as a REIT. These agreements also provide that our Manager or Mr. Kaufman, as the case may be, may pursue any opportunity in Structured Finance Investments if the opportunity is rejected by both our credit committee and a majority of our independent directors. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Pursuant to the management agreement and Mr. Kaufman's non-competition agreement, we have agreed not to pursue, and to allow our Manager and its affiliates, including Mr. Kaufman, to pursue opportunities to invest in multifamily and commercial mortgage loans that meet the underwriting and approval guidelines of Fannie Mae, Freddie Mac, the Federal Housing Administration and conduit commercial lending programs secured by first liens on real property (collectively, the "Manager Target Investments"). In addition to its exclusive right to pursue Manager Target Investments, our Manager and its affiliates may pursue any other type of investment (except Structured Finance Investments) without our consent. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following table sets forth our base management fees and incentive fees for the periods indicated: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:36.56%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:61.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, </font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:36.56%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Management Fees: </font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:18.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:20.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:20.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2012 </font></p>
</td>
<td valign="bottom" style="width:01.02%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:36.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Base(1)</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,900,000
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:18.42%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,900,000
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:18.42%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,000,000
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:36.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Incentive(2)</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:16.38%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:18.42%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:18.42%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">— </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:36.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:36.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total management fee</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,900,000
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:18.42%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,900,000
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:18.42%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,000,000
</td>
<td valign="bottom" style="width:01.02%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:36.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:36.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.02%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
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<font style="display: inline;font-family:Times;">(1)</font></p>
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<font style="display: inline;font-family:Times;">Included in base management fees at December 31, 2014, 2013 and 2012 was $2.7 million, $2.8 million and $3.1 million, respectively, which was included in due to related party. These amounts are paid in the quarters subsequent to each respective year end. </font></p>
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<font style="display: inline;font-family:Times;">During the third quarter of 2014, we recognized a $19.0 million prepaid incentive management fee related to the recognition of deferred revenue. See below for further details. </font></p>
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<font style="display: inline;font-family:Times;font-size:10pt;"> Beginning January 1, 2014, we directly compensate our chief executive officer $1.0 million in annual base compensation as an employee. As such, this compensation is now recorded as employee compensation and benefits, which was previously recorded as part of the base management fee prior to 2014. For the years ended December 31, 2014, 2013 and 2012, no "success-based" payments were made. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> Installments of the annual incentive fee are subject to quarterly recalculation and potential reconciliation at the end of the fiscal year, and any overpayments are required to be repaid in accordance with the management agreement. For the years ended December 31, 2014, 2013 and 2012, our Manager did not earn an incentive management fee. </font>
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<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In 2007, our Manager received an incentive fee installment totaling $19.0 million which was recorded as a prepaid management fee related to the incentive fee on $77.1 million of deferred revenue recognized on the transfer of control of the 450 West 33</font><font style="display: inline;font-family:Times;font-size:10pt;font-size:5pt;top:-4pt;position:relative;line-height:100%">rd</font><font style="display: inline;font-family:Times;font-size:10pt;"> Street property, which is one of our equity affiliates. The incentive fee was not earned and was refundable until the guarantee was terminated and the deferred revenue was recognized. The $77.1 million non-cash gain was deferred as a result of guarantying a portion of the property's indebtedness. In July 2014, the existing debt on the property was refinanced and our portion of the guarantee was terminated, resulting in the recognition of the deferred gain and $19.0 million prepaid incentive management fee. </font>
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<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Other Related Party Transactions </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> Due from related party was approximately $0.1 million at December 31, 2014 and 2013 and consisted primarily of escrows held by our Manager and its affiliates related to real estate transactions. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> Due to related party was $2.7 million and $2.8 million at December 31, 2014 and 2013, respectively, and consisted primarily of base management fees due to our Manager that we remitted in the following quarter. </font>
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<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> During the third quarter of 2014, we invested $0.1 million for a 5% interest in a joint venture that owns two multifamily properties. The joint venture consists of a consortium of investors consisting of certain of our officers, including Mr. Ivan Kaufman, and other related parties, who together own an interest of approximately 95%. In August 2014, we originated two bridge loans totaling $5.0 million to the joint venture with an interest rate of 5.5% over one-month LIBOR and a maturity date of August 2015. Interest income recorded from these loans totaled $0.1 million for the year ended December 31, 2014. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> In July 2014, we originated a $30.4 million bridge loan for an office property owned by a consortium of investors including Mr. Ivan Kaufman and his affiliates, who together own an interest of approximately 24% in the borrowing entity. The loan has an interest rate of LIBOR plus 7.90% and a maturity date of January 2016. Interest income recorded from this loan totaled approximately $1.2 million for the year ended December 31, 2014. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> In March 2014, we originated a bridge loan to a third party borrower for a portfolio of properties with an unpaid principal balance of $70.1 million, of which, $15.0 million was financed with junior loan participations to our Manager. The loan has a weighted average interest rate of 6.38% and a maturity date of March 2016. In May 2014, the junior loan participations to our Manager were paid off. The participations had a weighted average interest rate of 7.20% and a maturity date of March 2016. Interest income recorded from this loan totaled approximately $3.8 million for the year ended December 31, 2014. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> We had two loans totaling $22.4 million, which were secured by a property purchased in 2011 by a third party borrower from our Manager. In the first quarter 2014, our Manager purchased the property from the prior borrower subject to our loans. In connection with this purchase, our Manager paid down the loans by $2.3 million and we restructured our remaining debt outstanding into a first mortgage of $14.6 million with a maturity date of March 2015 and a second mortgage of $5.1 million with a maturity date of April 2015, both with an interest rate of LIBOR plus 4.80%. Interest income recorded from these loans totaled approximately $0.9 million, $1.5 million and $1.5 million for the years ended December 31, 2014, 2013 and 2012, respectively. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In October 2013, we purchased, at par, a $3.0 million mezzanine loan from our Manager who originated the loan in September 2013 to a third party entity. The loan had a fixed interest rate of 13.00% and a maturity date of October 2018 and was paid off in the third quarter of 2014. Interest income recorded from this loan was approximately $0.3 million and $0.1 million for the years ended December 31, 2014 and 2013, respectively. </font>
</p>
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<font style="display: inline;font-family:Times;font-size:10pt;"> In June 2013, our Board of Directors formed a special committee consisting of independent directors in connection with the exploration and evaluation of a potential transaction with our Manager involving the acquisition of our Manager's Fannie Mae, DUS, FHA and CMBS platforms, as well as the internalization of the management of our current business. There were preliminary discussions between the special committee and representatives of our Manager regarding a potential transaction during the second and third quarter of 2013. In connection therewith, the special committee engaged legal, financial and accounting advisors resulting in approximately $1.4 million of advisory fees during 2013. In late June of 2014, preliminary discussions regarding a possible transaction resumed but we cannot provide any assurance whether any transaction between us and our Manager will occur, or if a transaction did occur, any information on the timing, terms or form of any such transaction, including the amount or type of consideration (including the issuance of common stock) or related financing. No advisory fees or other related fees were incurred during 2014. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In April 2013, we originated six bridge loans totaling $53.0 million for a portfolio of multifamily properties owned by a consortium of investors including Mr. Ivan Kaufman and his affiliates and Mr. Fred Weber, our executive vice president of structured finance, who together own an interest of approximately 19% in the borrowing entity. The loans had an interest rate of one-month LIBOR plus 7.25% and a maturity date of April 2015, which were paid off in the fourth quarter of 2013. In November 2013, we originated a new bridge loan for $2.0 million with an interest rate of one-month LIBOR plus 5.50%, which was paid off in the second quarter of 2014. Interest income recorded from these loans totaled approximately $0.1 million and $3.1 million for the years ended December 31, 2014 and 2013. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In April 2013, we also purchased, at par, a $6.4 million bridge loan from our Manager who originated the loan in March 2013 to a third party entity that acquired the property from an entity owned by Mr. Ivan Kaufman and his affiliates and Mr. Fred Weber, who together also provided a $1.1 million preferred equity contribution to the overall transaction. Mr. Ivan Kaufman also provided a $1.0 million personal guaranty on the bridge loan. The bridge loan bore interest at a rate of one-month LIBOR plus 5.00% for the first year then one-month LIBOR plus 6.00% thereafter and had a maturity date of March 2015 with three one year extension options, and was paid off in the second quarter of 2014. Interest income recorded from this loan totaled approximately $0.2 million for both the years ended December 31, 2014 and 2013. </font>
</p>
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<font style="display: inline;font-family:Times;font-size:10pt;"> In January 2013, we originated a $7.5 million bridge loan for a multifamily property. William C. Green, who serves on our Board of Directors, holds a 6.6% partnership interest in the borrowing entity and is the chief financial officer of an affiliated entity that is a partner in, and the management company for, the borrowing entity. Mr. Green also provided a $0.4 million personal guaranty on the bridge loan. The loan bore interest at a rate of one-month LIBOR plus 6.00%, had a maturity date of January 2015, and was paid off in the second quarter of 2014. Interest income recorded from this loan totaled approximately $0.2 million and $0.5 million for the years ended December 31, 2014 and 2013. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In December 2012, our Manager acquired a multifamily property and simultaneously sold the property to a third party, who received a $30.0 million bridge loan from us. Our Manager retained a $6.0 million preferred equity interest in the entity. The loan to us bore interest at a rate of one-month LIBOR plus 5.00% with a LIBOR cap of 1.00% and paid off in the third quarter of 2014. Interest income recorded from this loan totaled approximately $0.9 million, $1.6 million and $0.2 million for the years ended December 31, 2014, 2013 and 2012, respectively. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In September 2012, we purchased, at par, a $5.1 million bridge loan from our Manager. The loan was originated by our Manager in May 2012 to a third party entity that acquired a multifamily property from our Manager. The loan bears interest at a rate of one-month LIBOR plus 5.50% with a LIBOR floor of 0.24% and has a maturity date of May 2015. Interest income recorded from this loan totaled approximately $0.3 million, $0.3 million and $0.1 million for the years ended December 31, 2014, 2013 and 2012, respectively. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In December 2011, we completed a restructuring of a $67.6 million preferred equity investment on the Lexford Portfolio ("Lexford"), which is a portfolio of multifamily assets. We, along with a consortium of independent outside investors, made an additional preferred equity investment of $25.0 million in Lexford of which we held a $10.5 million interest, and Mr. Fred Weber, our executive vice president of structured finance, held a $0.5 million interest, which was paid down to $22.5 million in the third quarter of 2013, and then paid off in the fourth quarter of 2013. The original preferred equity investment now bears a fixed rate of interest of 2.36%, revised from an original rate of LIBOR plus 5.00% (the loan was paying a modified rate of LIBOR plus 1.65% at the time of the new investment). The original preferred equity investment matures in June 2020 and was paid down during 2014 to a balance of $49.7 million at December 31, 2014. Interest income recorded from the additional preferred equity investment totaled approximately $1.1 million and $1.3 million for the years ended December 31, 2013 and 2012, respectively. The additional preferred equity investment had a fixed interest rate of 12% and a maturity date in June 2020. We, along with the same outside investors, also made a $0.1 million equity investment into Lexford, of which we held a $44,000 noncontrolling interest, and do not have the power to control the significant activities of the entity. During the fourth quarter of 2011, we recorded losses from the entity against the equity investment, reducing the balance to zero. In addition, under the terms of the restructuring, Lexford's first mortgage lender required a change of property manager for the underlying assets. The new management company is an affiliate of Mr. Ivan Kaufman, our chairman and chief executive officer, and has a contract with the new entity for 7.5 years and is entitled to 4.75% of gross revenues of the underlying properties, along with the potential to share in the proceeds of a sale or refinancing of the debt should the management company remain engaged by the new entity at the time of such capital event. In the first quarter of 2012, Mr. Fred Weber invested $250,000 in the new management company and currently owns a 23.5% ownership interest. Mr. Ivan Kaufman and his affiliates currently own a 53.9% ownership interest. We have provided limited ("bad boy") guarantees for certain debt controlled by Lexford. The bad boy guarantees may become a liability for us upon standard "bad" acts such as fraud or a material misrepresentation by Lexford or us. At December 31, 2014, this debt had an aggregate outstanding balance of $716.1 million and is scheduled to mature between 2017 and 2023. </font>
</p>
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<font style="display: inline;font-family:Times;font-size:10pt;"> Interest income recorded from additional loans originated in 2011 or prior years with our affiliates totaled $0.3 million, $0.3 million and $2.2 million for the years ended December 31, 2014, 2013 and 2012, respectively. </font>
</p>
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<font style="display: inline;font-family:Times;font-size:10pt;"> In the first quarter of 2015, we acquired 50% of our Manager's indirect interest in a residential mortgage banking company for approximately $9.6 million. As a result of this transaction, we will own a 22.5% indirect interest in this entity and expect to account for our interest under the equity method of accounting. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We are dependent upon our Manager with whom we have a conflict of interest, to provide services to us that are vital to our operations. Our chairman, chief executive officer and president, Mr. Ivan Kaufman, is also the chief executive officer and president of our Manager, and, our chief financial officer and treasurer, Mr. Paul Elenio, is the chief financial officer of our Manager. In addition, Mr. Kaufman and his affiliated entities ("the Kaufman Entities") together beneficially own approximately 92% of the outstanding membership interests of our Manager and certain of our employees and directors also hold an ownership interest in our Manager. Furthermore, one of our former directors is general counsel to our Manager and another of our directors also serves as the trustee of one of the Kaufman Entities that holds a majority of the outstanding membership interests in our Manager and co-trustee of another Kaufman Entity that owns an equity interest in our Manager. Our Manager currently holds approximately 5.3 million of our common shares, representing approximately 11% of the voting power of our outstanding stock as of December 31, 2014. Our Board of Directors approved a resolution under our charter allowing Ivan Kaufman and our Manager, (which Mr. Kaufman has a controlling equity interest in), to own more than the 5% ownership interest limit of our common stock as stated in our charter as amended. </font>
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<p><font size="1"> </font></p>
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<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Revenue Recognition </font>
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<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;"> Interest income</font><font style="display: inline;font-family:Times;font-size:10pt;">—Interest income is recognized on the accrual basis as it is earned from loans, investments and securities. In certain instances, the borrower pays an additional amount of interest at the time the loan is closed, an origination fee, a prepayment fee and/or deferred interest upon maturity. In some cases, interest income may also include the amortization or accretion of premiums and discounts arising from the purchase or origination of the loan or security. This additional income, net of any direct loan origination costs incurred, is deferred and accreted into interest income on an effective yield or "interest" method adjusted for actual prepayment activity over the life of the related loan or security as a yield adjustment. Income recognition is suspended for loans when, in the opinion of management, a full recovery of all contractual principal is not probable. Income recognition is resumed when the loan becomes contractually current and performance is resumed. We record interest income on certain impaired loans to the extent cash is received, as the borrower continues to make interest payments. We record loan loss reserves related to these loans when it is deemed that full recovery of principal and interest is not probable. </font>
</p>
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<font style="display: inline;font-family:Times;font-size:10pt;"> Several of our loans provide for accrual of interest at specified rates, which differ from current payment terms. Interest is recognized on such loans at the accrual rate subject to management's determination that accrued interest and outstanding principal are ultimately collectible, based on the underlying collateral and operations of the asset. If management cannot make this determination, interest income above the current pay rate is recognized only upon actual receipt. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> Given the transitional nature of some of our real estate loans, we may require funds to be placed into an interest reserve, based on contractual requirements, to cover debt service costs. We will analyze these interest reserves on a periodic basis and determine if any additional interest reserves are needed. Recognition of income on loans with funded interest reserves are accounted for in the same manner as loans without funded interest reserves. We will not recognize any interest income on loans in which the borrower has failed to make the contractual interest payment due or has not replenished the interest reserve account. Income from non-performing loans is generally recognized on a cash basis only to the extent it is received. Full income recognition will resume when the loan becomes contractually current and performance has recommenced. </font>
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<font style="display: inline;font-family:Times;font-size:10pt;"> Additionally, interest income is recorded when earned from equity participation interests, referred to as equity kickers. These equity kickers have the potential to generate additional revenues to us as a result of excess cash flow distributions and/or as appreciated properties are sold or refinanced. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;"> Property operating income</font><font style="display: inline;font-family:Times;font-size:10pt;">—Property operating income represents income associated with the operations of commercial real estate properties classified as real estate owned. We recognize revenue for these activities when the fees are fixed or determinable, or are evidenced by an arrangement, collection is reasonably assured and the services under the arrangement have been provided. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;"> Other income, net</font><font style="display: inline;font-family:Times;font-size:10pt;">—Other income, net represents loan structuring, modification, defeasance, and miscellaneous asset management fees associated with our loans and investments portfolio as well as net interest income and gains and losses recorded on our linked transactions. We recognize these forms of income when the fees are fixed or determinable, are evidenced by an arrangement, collection is reasonably assured and the services under the arrangement have been provided. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
8.00
7.08
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following is a summary of our securities classified as available-for-sale at December 31, 2014: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;"></font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.34%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:00.66%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:00.66%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amortized</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cost </font></p>
</td>
<td valign="bottom" style="width:00.66%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cumulative</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unrealized</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">(Loss) / Gain </font></p>
</td>
<td valign="bottom" style="width:00.88%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value /</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Estimated</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value </font></p>
</td>
<td valign="bottom" style="width:00.64%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.34%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Commercial mortgage-backed security (CMBS)</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.46%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.46%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:09.50%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(100,000
</td>
<td valign="bottom" style="width:00.88%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.46%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,000,000
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Common equity securities</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.46%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.46%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>58,789
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.50%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>440,920
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.46%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>499,709
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.34%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total available-for-sale securities</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.46%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.46%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,158,789
</td>
<td valign="bottom" style="width:00.66%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:09.50%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>340,920
</td>
<td valign="bottom" style="width:00.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.46%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,499,709
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.66%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.46%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following is a summary of our securities classified as available-for-sale at December 31, 2013: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;"></font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:43.68%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:00.58%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:00.56%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amortized</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cost </font></p>
</td>
<td valign="bottom" style="width:00.56%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cumulative</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unrealized</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Gain </font></p>
</td>
<td valign="bottom" style="width:00.56%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:08.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cumulative</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unrealized</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Loss </font></p>
</td>
<td valign="bottom" style="width:00.76%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:11.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value /</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Estimated</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value </font></p>
</td>
<td valign="bottom" style="width:00.56%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:43.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Residential mortgage-backed security (RMBS)</font></p>
</td>
<td valign="bottom" style="width:00.58%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.20%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>39,013,690
</td>
<td valign="bottom" style="width:00.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.20%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>34,049,310
</td>
<td valign="bottom" style="width:00.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:09.08%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>437,774
</td>
<td valign="bottom" style="width:00.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.38%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:07.12%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,298
</td>
<td valign="bottom" style="width:00.76%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.20%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>34,480,786
</td>
<td valign="bottom" style="width:00.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:43.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Commercial mortgage-backed security (CMBS)</font></p>
</td>
<td valign="bottom" style="width:00.58%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.38%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:07.12%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:43.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Common equity securities</font></p>
</td>
<td valign="bottom" style="width:00.58%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.20%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>58,789
</td>
<td valign="bottom" style="width:00.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:09.08%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>676,077
</td>
<td valign="bottom" style="width:00.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.38%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:07.12%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:00.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:10.20%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>734,866
</td>
<td valign="bottom" style="width:00.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:43.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.58%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:43.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total available-for-sale securities</font></p>
</td>
<td valign="bottom" style="width:00.58%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>41,113,690
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,208,099
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:09.08%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,113,851
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.38%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:07.12%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6,298
</td>
<td valign="bottom" style="width:00.76%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:10.20%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>37,315,652
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:43.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.58%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:43.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.58%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:09.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:10.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:01.06%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:35.22%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, </font></p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:01.06%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:06.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:01.04%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:06.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:01.04%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:20.42%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2012 </font></p>
</td>
<td valign="bottom" style="width:01.40%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Current tax (benefit) provision:</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:18.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Federal</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:18.32%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,025,508
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">State</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:18.32%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>245,517
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total current tax (benefit) provision</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:18.32%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(779,991
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Deferred tax (benefit) provision:</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:18.32%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Federal—net of valuation allowance</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:18.32%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(13,695
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">State—net of valuation allowance</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:18.32%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(7,872
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total deferred tax (benefit) provision</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:18.32%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(21,567
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total (benefit) provision</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.14%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:04.24%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.10%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:18.32%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(801,558
</td>
<td valign="bottom" style="width:01.40%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.34%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.06%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:04.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:18.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.40%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-weight:bold;"> </font>
</p>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-weight:bold;"> </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.84%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:17.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:17.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.84%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:08.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Debt</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:08.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:08.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Debt</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:08.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 8pt;text-indent: -8pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Junior loan participation, secured by our interest in a first mortgage loan with a principal balance of $1.3 million, participation interest was based on a portion of the interest received from the loan which has a fixed rate of 9.57%</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,300,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,300,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,300,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,300,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 8pt;text-indent: -8pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Junior loan participation, maturity of October 2018, secured by our interest in a mezzanine loan with a principal balance of $3.0 million, participation interest is a fixed rate of 13.00%</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>750,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>750,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.84%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 8pt;text-indent: -8pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Junior loan participation, maturity of September 2014, secured by our interest in a mezzanine loan with a principal balance of $3.0 million, participation interest is a fixed rate of 15.00%</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">—</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>450,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #CCEEFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>450,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 8pt;text-indent: -8pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">Total notes payable</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,300,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,300,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,500,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.96%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;">$</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;;font-family:Times;font-size:7.5pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,500,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.84%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.96%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-weight:bold;"> </font>
</p>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-weight:bold;"> </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Debt</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Weighted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Average</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Note Rate </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Debt</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Weighted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Average</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Note Rate </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">$100 million warehousing credit facility</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>92,520,637
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>128,593,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.45
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>33,300,540
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,705,813
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.46
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">$75 million warehousing credit facility</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,975,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>58,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.45
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30,838,180
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,774,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.70
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">$60 million warehousing credit facility</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,890,563
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>45,422,236
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.20
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,063,750
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,800,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.20
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">$33 million warehousing credit facility</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>33,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>55,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.45
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">$20 million revolving credit facility</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>20,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8.50
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">$15 million term credit facility</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7.50
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Repurchase agreement</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,497,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,536,049
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.75
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Repurchase agreement</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,425,553
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,944,735
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.00
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total credit facilities and repurchase agreements</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>180,386,200
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>232,015,236
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.84
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>159,125,023
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>203,760,597
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3.16
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following table outlines borrowings and the corresponding collateral under our CDOs as of December 31, 2014: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Debt </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Loans </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cash </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Restricted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cash(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">At-Risk(3) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CDO I</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>69,972,159
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>75,402,789
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>222,903,486
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>174,460,160
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,232,226
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>180,691,292
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CDO II</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>97,906,092
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>103,484,624
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>192,522,685
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>143,824,571
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>69,412,808
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>106,139,494
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CDO III</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>144,192,804
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>152,507,713
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>202,758,120
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>171,457,394
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>64,771,797
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>147,049,346
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total CDOs</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>312,071,055
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>331,395,126
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>618,184,291
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>489,742,125
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>139,416,831
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>433,880,132
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following table outlines borrowings and the corresponding collateral under our CDOs as of December 31, 2013: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
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<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
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<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
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<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
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<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
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<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
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<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral </font></p>
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<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
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<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Debt </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Loans </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
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<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cash </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Restricted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cash(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">At-Risk(3) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CDO I</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>126,753,077
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>132,399,560
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>284,758,473
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>237,194,618
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>79,986
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>179,466,954
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CDO II</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>196,046,587
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>201,847,417
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>362,150,693
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>312,859,875
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,719,760
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>187,213,841
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CDO III</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>296,754,194
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>305,376,004
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>395,783,494
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>365,236,505
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>23,607,813
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>240,503,823
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total CDOs</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>619,553,858
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>639,622,981
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,042,692,660
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>915,290,998
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,407,559
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>607,184,618
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;font-family:Times;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Amounts include loans to real estate assets consolidated by us that were reclassified to real estate owned and held-for-sale, net on the consolidated financial statements. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Represents restricted cash held for principal repayments in the CDOs. Does not include restricted cash related to interest payments, delayed fundings and expenses. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(3)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Amounts represent the face value of collateral in default, as defined by the CDO indenture, as well as assets deemed to be "credit risk." Credit risk assets are reported by each of the CDOs and are generally defined as one that, in the CDO collateral manager's reasonable business judgment, has a significant risk of declining in credit quality or, with a passage of time, becoming a defaulted asset. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following table outlines borrowings and the corresponding collateral under our CLOs as of December 31, 2014: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Debt </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Loans </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cash </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Restricted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cash(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">At-Risk(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CLO II</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>177,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>177,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>252,353,210
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>251,658,406
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,284,919
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CLO III</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>281,250,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>281,250,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>315,390,280
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>313,932,084
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>59,245,183
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total CLOs</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>458,250,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>458,250,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>567,743,490
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>565,590,490
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>66,530,102
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;font-size:12pt;"> </font>
</p>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following table outlines borrowings and the corresponding collateral under our CLOs as of December 31, 2013: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Debt </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Loans </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cash </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Restricted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Cash(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Collateral</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">At-Risk(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CLO I</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>87,500,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>87,500,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>114,414,154
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>113,940,857
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,672,496
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CLO II</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>177,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>177,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>255,016,564
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>253,989,391
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,621,675
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total CLOs</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>264,500,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>264,500,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>369,430,718
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>367,930,248
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,294,171
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Represents restricted cash held for principal repayments in the CLOs. Does not include restricted cash related to interest payments, delayed fundings and expenses. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Amounts represent the face value of collateral in default, as defined by the CLO indenture, as well as assets deemed to be "credit risk." Credit risk assets are reported by each of the CLOs and are generally defined as one that, in the CLO collateral manager's reasonable business judgment, has a significant risk of declining in credit quality or, with a passage of time, becoming a defaulted asset. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:00.88%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:35.32%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, </font></p>
</td>
<td valign="bottom" style="width:01.18%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.88%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:01.18%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:17.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:01.18%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Deferred tax assets (liabilities):</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Expenses not currently deductible</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,541,807
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,585,723
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net operating and capital loss carryforwards</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,279,854
</td>
<td valign="bottom" style="width:01.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,534,018
</td>
<td valign="bottom" style="width:01.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Interest in equity affiliates—net</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,079,375
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,489,269
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Deferred tax assets</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,742,286
</td>
<td valign="bottom" style="width:01.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,630,472
</td>
<td valign="bottom" style="width:01.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Valuation allowance</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(7,742,286
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(5,608,905
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net deferred tax asset</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:15.30%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,567
</td>
<td valign="bottom" style="width:01.18%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:62.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.88%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:15.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:01.18%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font><font style="display: inline;font-size:10pt;">The following table presents the effect of our derivative financial instruments on the statements of income as of December 31, 2014, 2013 and 2012 (in thousands): </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 12pt">
<font style="display: inline;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Amount of Loss</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Recognized</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">in Other</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Comprehensive Loss</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">(Effective Portion)</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">For the Year Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">December 31, </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Amount of Loss</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Reclassified from</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Accumulated Other</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Comprehensive Loss into</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Interest Expense</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">(Effective Portion)</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">For the Year Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">December 31, </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Amount of Loss</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Recognized</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">in Interest Expense</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">(Ineffective Portion)</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">For the Year Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">December 31, </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Amount of (Loss)</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Gain Recognized</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">in Other Income</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">For the Year Ended</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">December 31, </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">Designation\Cash Flow </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">Derivative </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">2012 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">2012 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">2012 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">2012 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Non-Qualifying</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">Basis Swaps / Caps</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(12
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(22
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
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<tr style="CellSpacing:0;">
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
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<font style="display: inline;">​</font></p>
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<font style="display: inline;">​</font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
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<font style="display: inline;">​</font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
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<font style="display: inline;">​</font></p>
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<font style="display: inline;">​ </font></p>
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<font style="display: inline;">​</font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Qualifying</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">Interest Rate Swaps / Cap</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,318
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>520
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,699
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(12,654
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(14,131
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(16,565
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">— </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Non-Qualifying</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">Forward Contracts</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(45
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,676
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>167
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
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<font style="display: inline;">​ </font></p>
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<font style="display: inline;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> The following is a summary of the derivative financial instruments held by us as of December 31, 2014 and 2013 (dollars in thousands): </font>
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<font style="display: inline;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:17.94%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:08.04%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td colspan="11" valign="bottom" style="width:32.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Notional Value </font></p>
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<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:09.20%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:22.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Fair Value </font></p>
</td>
<td valign="bottom" style="width:00.64%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:17.94%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Designation\Cash Flow </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:08.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Derivative </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:04.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Count </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">December 31,</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:04.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Count </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">December 31,</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Expiration</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Date </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">Balance</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Sheet</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">Location </font></p>
</td>
<td valign="bottom" style="width:00.48%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">December 31,</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:00.64%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:10.68%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;">December 31,</font><br /><font style="display: inline;font-weight:bold;font-size:8pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:00.64%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 8pt">
<font style="display: inline;font-weight:bold;font-size:8pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:17.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Non-Qualifying</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:08.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">Basis Swaps</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:01.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:09.24%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,000
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:01.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:09.24%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>11,600
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:09.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">2015</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">Other Assets</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:09.20%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:09.20%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:17.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:08.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:09.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:17.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:08.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:09.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:17.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Non-Qualifying</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:08.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">LIBOR Cap</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #FFFFFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:01.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:09.24%;background-color: #FFFFFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>71,701
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:01.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:09.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:09.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">2015</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">Other Assets</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:09.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:09.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">— </font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:17.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:08.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:09.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:17.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:08.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:09.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:17.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Qualifying</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:08.04%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">Interest Rate Swaps</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:01.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:09.24%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>250,321
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:01.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:09.24%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>297,532
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:09.20%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">2015 - 2017</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">Other Liabilities</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:09.20%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(13,908
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">)</font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:09.20%;background-color: #CCEEFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(24,794
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:17.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:08.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:09.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:17.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:08.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:09.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:17.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 7pt;text-indent: -7pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;">Non-Qualifying</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:08.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">Forward Contracts</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:01.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:09.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #FFFFFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:01.44%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:09.24%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:09.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">Other Assets</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:09.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">—</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
<td valign="bottom" style="width:01.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">$</font></p>
</td>
<td valign="bottom" style="width:09.20%;background-color: #FFFFFF;;font-family:Times New Roman;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,397
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:17.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:08.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
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<font style="display: inline;">​</font></p>
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<font style="display: inline;">​</font></p>
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<font style="display: inline;">​</font></p>
</td>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
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<td valign="bottom" style="width:09.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:17.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:08.04%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.94%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:03.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.24%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:09.20%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:07.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:00.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​</font></p>
</td>
<td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:09.20%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following table presents dividends declared (on a per share basis) for the year ended December 31, 2014: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td colspan="4" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Common Stock </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="10" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Preferred Stock </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividend(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Declaration Date </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividend </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Declaration Date </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Series A </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Series B </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Series C </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">February 12, 2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.13
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">February 3, 2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.515625
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.484375
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">N/A</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">April 29, 2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.13
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">April 29, 2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.515625
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.484375
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.5549
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">July 30, 2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.13
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">July 30, 2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.515625
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.484375
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.53125
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">November 5, 2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.13
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">November 3, 2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.515625
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.484375
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.53125
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">The dividend declared on February 3, 2014 for the Series A and B preferred stock was for the period December 1, 2013 through February 28, 2014. The dividend declared on April 29, 2014 for the Series A, B and C preferred stock was for the period March 1, 2014 through May 31, 2014. The dividend declared on July 30, 2014 for the Series A, B and C preferred stock was for the period June 1, 2014 through August 31, 2014. The dividend declared on November 3, 2014 for the Series A, B and C preferred stock was for the period September 1, 2014 through November 30, 2014. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;;font-size: 10pt;font-family:Times New Roman;text-indent:0pt;margin-left:0pt;padding:0pt 36pt 0pt 0pt;"></font><font style="display: inline;font-size:10pt;"></font><font style="display: inline;font-size:10pt;"></font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="17" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2012 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Basic </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Diluted </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Basic </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Diluted </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Basic </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Diluted </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Income from continuing operations, net of noncontrolling interest and preferred stock dividends</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>85,792,235
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>85,792,235
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,667,955
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,667,955
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,172,850
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,172,850
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Income from discontinued operations</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,328,038
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,328,038
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net income attributable to Arbor Realty Trust, Inc. common stockholders(1)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>85,792,235
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>85,792,235
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,667,955
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,667,955
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,500,888
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,500,888
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Weighted average number of common shares outstanding</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>50,143,648
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>50,143,648
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,399,872
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,399,872
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>26,956,938
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>26,956,938
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Dilutive effect of warrants(2)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>224,696
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>435,272
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>254,349
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Weighted average number of common shares outstanding</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>50,143,648
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>50,368,344
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,399,872
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>42,835,144
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>26,956,938
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>27,211,287
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Income from continuing operations, net of noncontrolling interest and preferred stock dividends, per common share</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.71
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.70
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.39
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.39
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.60
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.59
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Income from discontinued operations per common share</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.20
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.20
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 9pt;text-indent: -9pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net income attributable to Arbor Realty Trust, Inc. per common share(1)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.71
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.70
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.39
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.39
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.80
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.79
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
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</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Net of noncontrolling interest and preferred stock dividends. </font></p>
</td>
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<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">On July 1, 2014, we acquired and canceled all of the warrants. See Note 12—"Equity" for further details. </font></p>
</td>
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</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" valign="bottom" style="width:27.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, </font></p>
</td>
<td valign="bottom" style="width:03.68%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:07.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:02.62%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:07.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:02.62%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:07.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2012 </font></p>
</td>
<td valign="bottom" style="width:03.68%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">U.S. federal statutory rate</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35.0
</td>
<td valign="bottom" style="width:02.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35.0
</td>
<td valign="bottom" style="width:02.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35.0
</td>
<td valign="bottom" style="width:03.68%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">REIT non-taxable income</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(36.8
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(35.7
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(41.0
</td>
<td valign="bottom" style="width:03.68%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">State and local income taxes, net of federal tax benefit</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(0.5
</td>
<td valign="bottom" style="width:02.62%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1.1
</td>
<td valign="bottom" style="width:02.62%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1.1
</td>
<td valign="bottom" style="width:03.68%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Change in valuation allowance</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.3
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.8
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9.8
</td>
<td valign="bottom" style="width:03.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Refund</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(6.5
</td>
<td valign="bottom" style="width:03.68%;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:06.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:06.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:06.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Effective income tax rate</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:06.56%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3.8
</td>
<td valign="bottom" style="width:03.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:06.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:06.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:06.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:68.26%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:06.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:06.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:02.62%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.78%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:06.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:03.68%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="17" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2012 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Class: </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amount </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Gain </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amount </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Gain </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Face</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Amount </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Gain </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">B</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,615,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">C</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,329,509
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,200,182
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">D</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,350,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,819,066
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">E</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,765,276
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,445,033
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">F</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,708,556
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,048,417
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">G</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,672,039
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,777,138
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">H</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,935,088
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,930,772
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,403,771
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,554,187
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,935,088
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,930,772
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>66,229,151
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>30,459,023
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;text-indent:36pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">The fair value of these financial assets and liabilities was determined using the following inputs as of December 31, 2014: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" rowspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value Measurements</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Using Fair Value Hierarchy </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" rowspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Fair Value </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Level 1 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Level 2 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Level 3 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Financial assets:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Available-for-sale securities(1)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,499,709
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,499,709
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>499,709
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Derivative financial instruments</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,995
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,995
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,995
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Financial liabilities:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Derivative financial instruments</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,908,163
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,908,163
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,908,163
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Our equity securities were measured using Level 1 inputs and our CMBS investment was measured using Level 3 inputs. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="11" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Three Months Ended </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">September 30, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">June 30, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">March 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net interest income</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,898,651
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,323,926
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,269,832
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,320,477
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total other revenue</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,056,465
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,962,195
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>9,151,570
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,116,484
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total other expenses</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,859,256
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,819,835
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,958,639
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17,011,318
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Income before gain on sale of equity interests, incentive management fee, gain (loss) on sale of real estate, net and income (loss) from equity affiliates</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,095,860
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,466,286
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,462,763
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,425,643
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Gain on sale of equity interests</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>819,067
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>77,123,133
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,851,266
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Incentive management fee—equity interest—related party</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(19,047,949
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Gain (loss) on sale of real estate, net</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,803,512
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(199,749
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Income (loss) from equity affiliates</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>219,287
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(51,170
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>40,493
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>40,048
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net income</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,937,726
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>65,290,551
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,354,522
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,465,691
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Preferred stock dividends</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,888,430
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,888,430
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,888,465
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,590,930
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net income attributable to Arbor Realty Trust, Inc. common stockholders</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,049,296
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>63,402,121
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>11,466,057
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,874,761
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Basic earnings per common share(1):</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.10
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.26
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.23
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.12
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Diluted earnings per common share(1):</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.10
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.26
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.23
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.12
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="11" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Three Months Ended </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">September 30, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">June 30, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">March 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net interest income</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,526,603
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,097,248
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,996,043
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,346,578
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total other revenue</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,018,515
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,287,428
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,837,139
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,274,892
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total other expenses</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,808,579
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,378,998
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>18,549,062
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19,075,367
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Income before gain on extinguishment of debt and income (loss) from equity affiliates</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,736,539
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,005,678
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,284,120
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,546,103
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Gain on extinguishment of debt</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,167,772
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,763,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Income (loss) from equity affiliates</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>40,937
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(81,723
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(81,804
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(81,885
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">)</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net income</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,777,476
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5,091,727
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,202,316
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7,227,218
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Preferred stock dividends</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,410,305
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,410,333
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,152,617
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>533,328
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net income attributable to noncontrolling interest</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>16,715
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>53,833
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>53,651
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net income attributable to Arbor Realty Trust, Inc. common stockholders</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,367,171
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,664,679
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,995,866
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,640,239
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Basic earnings per common share(1):</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.07
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.08
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.07
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.20
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
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<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Diluted earnings per common share(1):</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.07
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.08
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.07
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.19
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">The total for the year may differ from the sum of the quarters as a result of weighting. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following is a summary of our variable interests in identified VIEs, of which we are not the primary beneficiary, as of December 31, 2014: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:40.76%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Type </font></p>
</td>
<td valign="bottom" style="width:00.86%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:22.76%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Carrying Amount(1) </font></p>
</td>
<td valign="bottom" style="width:00.86%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:33.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Maximum Exposure to Loss(2) </font></p>
</td>
<td valign="bottom" style="width:00.86%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:40.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Loans</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:20.70%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>410,698,756
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:30.80%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>410,698,756
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:40.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Loans and equity investments</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:20.70%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>107,071,875
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:30.80%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>107,071,875
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:40.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">CMBS</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:20.70%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:30.80%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,100,000
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:40.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Junior subordinated notes</font><font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">(3)</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:20.70%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>578,000
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.08%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:30.80%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>578,000
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:40.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:20.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:03.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:30.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:40.76%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:02.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:20.70%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>520,448,631
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:03.08%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:30.80%;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>520,448,631
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:40.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:20.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:03.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:30.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:40.76%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:02.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:20.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:03.08%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:30.80%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Represents the carrying amount of loans and investments before reserves. At December 31, 2014, $186.7 million of loans to VIEs had corresponding loan loss reserves of approximately $111.1 million and $40.3 million of loans to VIEs were related to loans classified as non-performing. See Note 3—"Loans and Investments" for further details. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Our maximum exposure to loss as of December 31, 2014 would not exceed the carrying amount of our investment. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(3)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">It is not appropriate to consolidate these entities as equity interests are variable interests only to the extent that the investment is considered to be at risk. Since our investments were funded by the entities that issued the junior subordinated notes, it is not considered to be at risk. </font></p>
</td>
</tr>
</table></div>
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;"> </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
50200000
639622981
132399560
257400000
305376004
201847417
87500000
177000000
639622981
639622981
264500000
521938885
639622981
331395126
75402789
152500000
152507713
103484624
281250000
177000000
331395126
331395126
331395126
458250000
240541397
240541397
240541397
331395126
7882914
10603247
9600139
97860025
97860025
97860025
95902825
95902825
95902825
578190
1600142
1989439
0.33
0.33
0.33
0.33
667
45333
82500
192750
110666
138584
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Stock-Based Compensation </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We have granted certain of our employees, directors, and employees of our Manager, stock awards consisting of shares of our common stock that vest immediately or annually over a multi-year period, subject to the recipient's continued service to us. We record stock-based compensation expense at the grant date fair value of the related stock-based award with subsequent remeasurement for any unvested shares granted to non-employees with such amounts expensed against earnings, at the grant date (for the portion that vests immediately) or ratably over the respective vesting periods. Dividends are paid on restricted stock as dividends are paid on shares of our common stock whether or not they are vested. Stock-based compensation is disclosed in our consolidated statements of income under "employee compensation and benefits" for employees and under "selling and administrative" expense for non-employees. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
6.95
26778737
-2480597
33899992
-2650767
51787075
2811500
-2650767
53128075
3711500
-2650767
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Note 2—Summary of Significant Accounting Policies </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Basis of Presentation and Principles of Consolidation </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The accompanying consolidated financial statements include our financial statements, our wholly owned subsidiaries, and partnerships or other joint ventures in which we own a voting interest of greater than 50 percent, and variable interest entities ("VIEs") of which we are the primary beneficiary. VIEs are defined as entities in which equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the entity to finance its activities without additional subordinated financial support from other parties. A VIE is required to be consolidated by its primary beneficiary, which is the party that (i) has the power to control the activities that most significantly impact the VIE's economic performance and (ii) has the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. Current accounting guidance requires us to present a) assets of a consolidated VIE that can be used only to settle obligations of the consolidated VIE, and b) liabilities of a consolidated VIE for which creditors (or beneficial interest holders) do not have recourse to the general credit of the primary beneficiary. As a result of this guidance, we have separately disclosed parenthetically the assets and liabilities of our three collateralized debt obligation ("CDO") and three collateralized loan obligation ("CLO") subsidiaries on our consolidated balance sheets. Entities in which we have a significant influence are accounted for primarily under the equity method. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. All significant inter-company transactions and balances have been eliminated in consolidation. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The preparation of consolidated financial statements in conformity with accounting principles generally acceptable in the U.S. ("GAAP"), requires management to make estimates and assumptions that could materially affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Further, in connection with preparation of the consolidated financial statements, we evaluated events subsequent to the balance sheet date of December 31, 2014 through the issuance of the consolidated financial statements. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Certain prior year amounts have been reclassified to conform to current period presentation. In the second quarter of 2014, we reclassified a property from real estate held-for-sale to real estate owned when it was determined that a sale of the property would not take place, resulting in reclassifications of the property's operating activity and related depreciation for all prior periods presented from discontinued operations to property operating income and property operating expenses. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Cash and Cash Equivalents </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> All highly liquid investments with original maturities of three months or less are considered to be cash equivalents. We place our cash and cash equivalents in high quality financial institutions. The consolidated account balances at each institution periodically exceed Federal Deposit Insurance Corporation (FDIC) insurance coverage and we believe that this risk is not significant. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Restricted Cash </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Restricted cash primarily represents proceeds from loan repayments on deposit with the trustees for our CDOs and CLOs which will be used for principal repayments, unfunded loan commitments and interest payments received from loans. See Note 7—"Debt Obligations." Restricted cash is also held by our real estate owned assets due to escrow requirements. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Loans, Investments and Securities </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Loans held for investment are intended to be held to maturity and, accordingly, are carried at cost, net of unamortized loan origination costs and fees, loan purchase discounts, and net of the allowance for loan losses when such loan or investment is deemed to be impaired. We invest in preferred equity interests that, in some cases, allow us to participate in a percentage of the underlying property's cash flows from operations and proceeds from a sale or refinancing. At the inception of each such investment, management must determine whether such investment should be accounted for as a loan, equity interest or as real estate. To date, management has determined that all such investments are properly accounted for and reported as loans. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> From time to time, we may enter into an agreement to sell a loan. These loans are considered held-for-sale and are valued at the lower of the loan's carrying amount or fair value less costs to sell. For the sale of loans, recognition occurs when ownership passes to the buyer. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> At the time of purchase, we designate a security as available-for-sale, held-to-maturity, or trading depending on our ability and intent to hold it to maturity. We do not have any securities designated as held-to-maturity or trading as of December 31, 2014. Securities available-for-sale are reported at fair value with the net unrealized gains or losses reported as a component of accumulated other comprehensive loss. Unrealized losses that are determined to be other-than-temporary are recognized in earnings up to their credit component. The determination of other-than-temporary impairment is a subjective process requiring judgments and assumptions and is not necessarily intended to indicate a permanent decline in value. The process may include, but is not limited to, assessment of recent market events and prospects for near-term recovery, assessment of cash flows, internal review of the underlying assets securing the investments, credit of the issuer and the rating of the security, as well as our ability and intent to hold the investment to maturity. Management closely monitors market conditions on which it bases such decisions. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We also assess certain of our securities, other than those of high credit quality, to determine whether significant changes in estimated cash flows or unrealized losses on these securities, if any, reflect a decline in value that is other-than-temporary and, accordingly, should be written down to their fair value against earnings. On a quarterly basis, we review these changes in estimated cash flows, which could occur due to actual prepayment and credit loss experience, to determine if an other-than-temporary impairment is deemed to have occurred. We calculate a revised yield based on the current amortized cost of the investment, including any other-than-temporary impairments recognized to date, and the revised yield is then applied prospectively to recognize interest income. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Securities that are purchased at a discount and that are not of high credit quality at the time of purchase are accounted for as debt securities acquired with deteriorated credit quality. Interest income on these securities is recognized using the effective interest method based on our estimates of expected cash flows to be received, which include assumptions related to fluctuations in prepayment speeds and the timing and amount of credit losses, which are reviewed on an ongoing basis. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Impaired Loans, Allowance for Loan Losses, Loss on Sale and Restructuring of Loans and Charge-offs </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We consider a loan impaired when, based upon current information and events, it is probable that we will be unable to collect all amounts due for both principal and interest according to the contractual terms of the loan agreement. We evaluate each loan in our portfolio on a quarterly basis. Our loans are individually specific and unique as it relates to product type, geographic location, and collateral type, as well as to the rights and remedies and the position in the capital structure our loans and investments have in relation to the underlying collateral. We evaluate all of this information as well as general market trends related to specific classes of assets, collateral type and geographic locations, when determining the appropriate assumptions such as capitalization and market discount rates, as well as the borrower's operating income and cash flows, in estimating the value of the underlying collateral when determining if a loan is impaired. We utilize internally developed valuation models and techniques primarily consisting of discounted cash flow and direct capitalization models in determining the fair value of the underlying collateral on an individual loan. We may also obtain a third party appraisal, which may value the collateral through an "as-is" or "stabilized value" methodology. Such appraisals may be used as an additional source of valuation information only and no adjustments are made to appraisals. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> If upon completion of the valuation, the fair value of the underlying collateral securing the impaired loan is less than the net carrying value of the loan, an allowance is created with a corresponding charge to the provision for loan losses. The allowance for each loan is maintained at a level that we believe to be adequate to absorb probable losses. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Loan terms may be modified if we determine that based on the individual circumstances of a loan and the underlying collateral, a modification would more likely increase the total recovery of the combined principal and interest from the loan. Any loan modification is predicated upon a goal of maximizing the collection of the loan. Typical triggers for a modification would include situations where the projected cash flow is insufficient to cover required debt service, when asset performance is lagging the initial projections, where there is a requirement for rebalancing, where there is an impending maturity of the loan, and where there is an actual loan default. Loan terms that have been modified have included, but are not limited to interest rate, maturity date and in certain cases, principal amount. Length and amounts of each modification have varied based on individual circumstances and are determined on a case by case basis. If the loan modification constitutes a concession whereas we do not receive ample consideration in return for the modification, and the borrower is experiencing financial difficulties and cannot repay the loan under the current terms, then the modification is considered by us to be a troubled debt restructuring. If we receive a benefit, either monetary or strategic, and the above criteria are not met, the modification is not considered to be a troubled debt restructuring. We record interest on modified loans on an accrual basis to the extent that the modified loan is contractually current. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Loss on restructured loans is recorded when we have granted a concession to the borrower in the form of principal forgiveness related to the payoff or the substitution or addition of a new debtor for the original borrower or when we incur costs on behalf of the borrower related to the modification, payoff or the substitution or addition of a new debtor for the original borrower. When a loan is restructured, we record our investment at net realizable value, taking into account the cost of all concessions at the date of restructuring. The reduction in the recorded investment is recorded as a separate line on the consolidated statements of income in the period in which the loan is restructured. In addition, a gain or loss may be recorded upon the sale of a loan to a third party in the consolidated statements of income in the period in which the loan was sold. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Charge-offs to the allowance for loan losses occur when losses are confirmed through the receipt of cash or other consideration from the completion of a sale; when a modification or restructuring takes place in which we grant a concession to a borrower or agree to a discount in full or partial satisfaction of the loan; when we take ownership and control of the underlying collateral in full satisfaction of the loan; when loans are reclassified as other investments; or when significant collection efforts have ceased and it is highly likely that a loss has been realized. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Real Estate Owned and Held-For-Sale </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Real estate owned, shown net of accumulated depreciation and impairment charges, is comprised of real property acquired by foreclosure or through partial or full settlement of mortgage debt. Real estate acquired is recorded at its estimated fair value at the time of acquisition. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Costs incurred in connection with the foreclosure of the properties collateralizing the real estate loans are expensed as incurred and costs subsequently incurred to extend the life or improve the assets subsequent to foreclosure are capitalized. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We allocate the purchase price of our operating properties to land, building, tenant improvements, deferred lease costs for the origination of the in-place leases, intangibles for the value of the above or below market leases at fair value and to any other identified intangible assets or liabilities. We finalize our purchase price allocation on these assets within one year of the acquisition date. We amortize the value allocated to the in-place leases over the remaining lease term. The value allocated to the above or below market leases are amortized over the remaining lease term as an adjustment to rental income. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Real estate assets are depreciated using the straight-line method over their estimated useful lives. Ordinary repairs and maintenance which are not reimbursed by the tenants are expensed as incurred. Major replacements and betterments which improve or extend the life of the asset are capitalized and depreciated over their estimated useful life. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Our properties are individually reviewed for impairment each quarter, if events or circumstances change indicating that the carrying amount of the assets may not be recoverable. We recognize impairment if the undiscounted estimated cash flows to be generated by the assets are less than the carrying amount of those assets. Measurement of impairment is based upon the estimated fair value of the asset. In the evaluation of a property for impairment, many factors are considered, including estimated current and expected operating cash flows from the property during the projected holding period, costs necessary to extend the life or improve the asset, expected capitalization rates, projected stabilized net operating income, selling costs, and the ability to hold and dispose of such real estate owned in the ordinary course of business. Impairment charges may be necessary in the event discount rates, capitalization rates, lease-up periods, future economic conditions, and other relevant factors vary significantly from those assumed in valuing the property. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Real estate is classified as held-for-sale when management commits to a plan of sale, the asset is available for immediate sale, there is an active program to locate a buyer, and it is probable the sale will be completed within one year. Real estate assets that are expected to be disposed of are valued, on an individual asset basis, at the lower of their carrying amount or their fair value less costs to sell. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We recognize sales of real estate properties upon closing. Payments received from purchasers prior to closing are recorded as deposits. Gain on real estate sold is recognized using the full accrual method when the collectability of the sale price is reasonably assured and we are not obligated to perform significant activities after the sale. Gain may be deferred in whole or in part until collectability of the sales price is reasonably assured and the earnings process is complete. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Revenue Recognition </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;"> Interest income</font><font style="display: inline;font-family:Times;font-size:10pt;">—Interest income is recognized on the accrual basis as it is earned from loans, investments and securities. In certain instances, the borrower pays an additional amount of interest at the time the loan is closed, an origination fee, a prepayment fee and/or deferred interest upon maturity. In some cases, interest income may also include the amortization or accretion of premiums and discounts arising from the purchase or origination of the loan or security. This additional income, net of any direct loan origination costs incurred, is deferred and accreted into interest income on an effective yield or "interest" method adjusted for actual prepayment activity over the life of the related loan or security as a yield adjustment. Income recognition is suspended for loans when, in the opinion of management, a full recovery of all contractual principal is not probable. Income recognition is resumed when the loan becomes contractually current and performance is resumed. We record interest income on certain impaired loans to the extent cash is received, as the borrower continues to make interest payments. We record loan loss reserves related to these loans when it is deemed that full recovery of principal and interest is not probable. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Several of our loans provide for accrual of interest at specified rates, which differ from current payment terms. Interest is recognized on such loans at the accrual rate subject to management's determination that accrued interest and outstanding principal are ultimately collectible, based on the underlying collateral and operations of the asset. If management cannot make this determination, interest income above the current pay rate is recognized only upon actual receipt. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Given the transitional nature of some of our real estate loans, we may require funds to be placed into an interest reserve, based on contractual requirements, to cover debt service costs. We will analyze these interest reserves on a periodic basis and determine if any additional interest reserves are needed. Recognition of income on loans with funded interest reserves are accounted for in the same manner as loans without funded interest reserves. We will not recognize any interest income on loans in which the borrower has failed to make the contractual interest payment due or has not replenished the interest reserve account. Income from non-performing loans is generally recognized on a cash basis only to the extent it is received. Full income recognition will resume when the loan becomes contractually current and performance has recommenced. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Additionally, interest income is recorded when earned from equity participation interests, referred to as equity kickers. These equity kickers have the potential to generate additional revenues to us as a result of excess cash flow distributions and/or as appreciated properties are sold or refinanced. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;"> Property operating income</font><font style="display: inline;font-family:Times;font-size:10pt;">—Property operating income represents income associated with the operations of commercial real estate properties classified as real estate owned. We recognize revenue for these activities when the fees are fixed or determinable, or are evidenced by an arrangement, collection is reasonably assured and the services under the arrangement have been provided. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;"> Other income, net</font><font style="display: inline;font-family:Times;font-size:10pt;">—Other income, net represents loan structuring, modification, defeasance, and miscellaneous asset management fees associated with our loans and investments portfolio as well as net interest income and gains and losses recorded on our linked transactions. We recognize these forms of income when the fees are fixed or determinable, are evidenced by an arrangement, collection is reasonably assured and the services under the arrangement have been provided. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Investments in Equity Affiliates </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We invest in joint ventures that are formed to acquire, develop and/or sell real estate assets. These joint ventures are not majority owned or controlled by us, or are VIEs for which we are not the primary beneficiary, and are not consolidated in our financial statements. These investments are recorded under either the equity or cost method of accounting as deemed appropriate. We record our share of the net income and losses from the underlying properties of our equity method investments and any other-than-temporary impairment on these investments on a single line item in the consolidated statements of income as income or losses from equity affiliates. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Stock-Based Compensation </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We have granted certain of our employees, directors, and employees of our Manager, stock awards consisting of shares of our common stock that vest immediately or annually over a multi-year period, subject to the recipient's continued service to us. We record stock-based compensation expense at the grant date fair value of the related stock-based award with subsequent remeasurement for any unvested shares granted to non-employees with such amounts expensed against earnings, at the grant date (for the portion that vests immediately) or ratably over the respective vesting periods. Dividends are paid on restricted stock as dividends are paid on shares of our common stock whether or not they are vested. Stock-based compensation is disclosed in our consolidated statements of income under "employee compensation and benefits" for employees and under "selling and administrative" expense for non-employees. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Income Taxes </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We organize and conduct our operations to qualify as a REIT and to comply with the provisions of the Internal Revenue Code with respect thereto. A REIT is generally not subject to federal income tax on taxable income that is distributed to its stockholders, provided that it distributes at least 90% of its REIT taxable income and meets certain other requirements. Certain REIT income may be subject to state and local income taxes. Our assets or operations that would not otherwise comply with the REIT requirements are owned or conducted by our taxable REIT subsidiaries, the income of which is subject to federal and state income tax. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Current accounting guidance clarifies the accounting for uncertainty in income taxes recognized in a company's financial statements. This guidance prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. This guidance also provides clarity on derecognition, classification, interest and penalties, accounting in interim periods and disclosure. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Other Comprehensive Income </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We divide comprehensive income or loss into net income and other comprehensive income (loss), which includes unrealized gains and losses on available-for-sale securities. In addition, to the extent our derivative instruments qualify as hedges, net unrealized gains or losses are reported as a component of accumulated other comprehensive income (loss). </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Earnings Per Share </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We present both basic and diluted earnings per share ("EPS"). Basic EPS excludes dilution and is computed by dividing net income available to common stockholders by the weighted average number of shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock, where such exercise or conversion would result in a lower EPS amount. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Hedging Activities and Derivatives </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We recognize all derivatives as either assets or liabilities at fair value and these amounts are recorded in other assets or other liabilities on the consolidated balance sheets. Additionally, the fair value adjustments will affect either accumulated other comprehensive income (loss) until the hedged item is recognized in earnings, or net income (loss) depending on whether the derivative instrument qualifies as a hedge for accounting purposes and, if so, the nature of the hedging activity. We use derivatives for hedging purposes rather than speculation. Fair values are approximated based on current market data received from financial sources that trade such instruments and are based on prevailing market data and derived from third party proprietary models based on well recognized financial principles and reasonable estimates about relevant future market conditions. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether we have elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. We may enter into derivative contracts that are intended to economically hedge certain of our risks, even though hedge accounting does not apply or we elect not to apply hedge accounting. The ineffective portion of a derivative's change in fair value is recognized immediately in earnings. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In connection with our interest rate risk management, we periodically hedge a portion of our interest rate risk by entering into derivative financial instrument contracts. Specifically, our derivative financial instruments are used to manage differences in the amount, timing, and duration of our expected cash receipts and our expected cash payments principally related to our investments and borrowings. Our objectives in using interest rate derivatives are to add stability to interest income and to manage our exposure to interest rate movements. To accomplish this objective, we primarily use interest rate swaps as part of our interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for us making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. We have entered into various interest rate swap agreements to hedge our exposure to interest rate risk on (i) variable rate borrowings as it relates to fixed rate loans; (ii) the difference between the CDO investor return being based on the three-month LIBOR index while the supporting assets of the CDO are based on the one-month LIBOR index; and (iii) use of LIBOR rate caps in loan agreements. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In the normal course of business, we may use a variety of derivative financial instruments to manage, or hedge, interest rate risk. We do not use derivatives for trading or speculative purposes. These derivative financial instruments must be effective in reducing our interest rate risk exposure in order to qualify for hedge accounting. When the terms of an underlying transaction are modified, or when the underlying hedged item ceases to exist, all changes in the fair value of the instrument are marked-to-market with changes in value included in net income for each period until the derivative instrument matures or is settled. Any derivative instrument used for risk management that does not meet the hedging criteria is marked-to-market with the changes in value included in net income. In cases where a derivative financial instrument is terminated early, any gain or loss is generally amortized over the remaining life of the hedged item. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In certain circumstances, we have financed the purchase of Residential Mortgage Backed Securities ("RMBS") investments through a repurchase agreement with the same counterparty, which qualified as a linked transaction. If both transactions were entered into contemporaneously or in contemplation of each other, the transactions were presumed to be linked transactions unless certain criteria were met, and we accounted for the purchase of such securities and the repurchase agreement on a combined basis as a forward contract derivative at fair value which was reported in other assets on the consolidated balance sheets with changes in the fair value of the assets and liabilities underlying linked transactions and associated interest income and expense reported in other income on the consolidated statements of income. The analysis of transactions under these rules required management's judgment and experience. The fair value of linked transactions reflected the value of the underlying RMBS, linked repurchase agreement borrowings and accrued interest receivable/payable on such instruments. Linked transactions are not designated as hedging instruments and, as a result, the change in the fair value and net interest income from linked transactions was reported in other income on the consolidated statements of income. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We have no master netting or similar arrangements and do not offset derivatives. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Variable Interest Entities </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We have evaluated our loans and investments, mortgage related securities, investments in equity affiliates, junior subordinated notes, CDOs and CLOs, in order to determine if they qualify as VIEs or as variable interests in VIEs. This evaluation resulted in our determining that our bridge loans, junior participation loans, mezzanine loans, preferred equity investments, investments in equity affiliates, junior subordinated notes, CDOs, CLOs, and investments in debt securities were potential VIEs or variable interests in VIEs. See Note 9—"Variable Interest Entities" for our evaluation. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-style:italic;font-size:10pt;">Recently Issued Accounting Pronouncements </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In January 2015, the Financial Accounting Standards Board ("FASB") eliminated the concept of extraordinary items and thus the requirement to assess whether an event or transaction require extraordinary classification on the financial statements. The guidance is effective for the first quarter of 2016. We expect to early adopt this new guidance in the first quarter of 2015 and we do not expect it to have a material effect on our consolidated financial statements. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In June 2014, the FASB issued updated guidance that changes how repurchase agreements determined to be linked transactions are recorded. Under the new guidance, the repurchase agreement is to be accounted for separately from the initial transfer of the financial asset and not as a forward contract derivative. The guidance is effective for transactions outstanding as of the first quarter of 2015. We do not expect this guidance to have a material effect on our consolidated financial statements. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In May 2014, the FASB issued updated guidance on the recognition of revenue relating to the transfer of goods, services and non-financial assets. This guidance does not pertain to financial instrument contracts and thus does not have a material effect on our consolidated financial statements. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In April 2014, the FASB issued updated guidance that changes the criteria for determining which disposals can be presented as discontinued operations and modifies related disclosure requirements. Under the new guidance, a discontinued operation is defined as a disposal of a component or group of components that is disposed of or is classified as held for sale and represents a strategic shift that has (or will have) a major effect on an entity's operations and financial results. As a result of this new guidance, future dispositions of real estate owned assets may no longer meet the criteria to be considered as discontinued operations. The guidance is effective prospectively as of the first quarter of 2015, with early adoption permitted for new disposals or new classifications as held-for-sale. We early adopted this new guidance in the first quarter of 2014 and it did not have a material effect on our consolidated financial statements. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
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<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Note 12—Equity </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Preferred Stock </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In February 2014, we completed an underwritten public offering of 900,000 shares of 8.50% Series C cumulative redeemable preferred stock with a liquidation preference of $25.00 per share, generating net proceeds of approximately $21.6 million after deducting the underwriting discount and other offering expenses. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In May 2013, we completed an underwritten public offering of 1,200,000 shares of 7.75% Series B cumulative redeemable preferred stock with a liquidation preference of $25.00 per share, generating net proceeds of approximately $28.9 million after deducting the underwriting discount and other offering expenses. Also in May 2013, the underwriters exercised a portion of their over-allotment option for 60,000 shares providing additional net proceeds of approximately $1.5 million. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In February 2013, we completed an underwritten public offering of 1,400,000 shares of 8.25% Series A cumulative redeemable preferred stock with a liquidation preference of $25.00 per share, generating net proceeds of approximately $33.6 million after deducting the underwriting discount and other offering expenses. Also in February 2013, the underwriters exercised a portion of their over-allotment option for 151,500 shares providing additional net proceeds of approximately $3.7 million. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Common Stock </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In February 2014, we entered into an "At-The-Market" ("ATM") equity offering sales agreement with JMP Securities LLC ("JMP") whereby, in accordance with the terms of the agreement, from time to time we may issue and sell through JMP up to 7,500,000 shares of our common stock. Sales of the shares are made by means of ordinary brokers' transactions or otherwise at market prices prevailing at the time of sale, or at negotiated prices. As of December 31, 2014, we sold 1,000,000 shares for net proceeds of $6.5 million. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In September 2013, we completed a public offering in which we sold 6,000,000 shares of our common stock for $7.08 per share, and received net proceeds of approximately $40.9 million after deducting the underwriting discount and other offering expenses. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In March 2013, we completed a public offering in which we sold 5,625,000 shares of our common stock for $8.00 per share, and received net proceeds of approximately $43.0 million after deducting the underwriting discount and other offering expenses. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In December 2012, we entered into an ATM equity offering sales agreement with JMP whereby, in accordance with the terms of the agreement, from time to time we could issue and sell through JMP up to 6,000,000 shares of our common stock. Sales of the shares were made by means of ordinary brokers' transactions or otherwise at market prices prevailing at the time of sale, or at negotiated prices. As of the first quarter of 2013, we sold all of the 6,000,000 shares for net proceeds of $45.6 million. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We used the net proceeds from our preferred and common offerings to make investments, to repurchase or pay liabilities and for general corporate purposes. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> As of February 13, 2015, we have $330.4 million available under our $500.0 million shelf registration statement that was declared effective by the SEC in August 2013. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Distributions </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following table presents dividends declared (on a per share basis) for the year ended December 31, 2014: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td colspan="4" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Common Stock </font></p>
</td>
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<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="10" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Preferred Stock </font></p>
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<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
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<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
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<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
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<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
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<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
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<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
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<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividend(1) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Declaration Date </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividend </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Declaration Date </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Series A </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Series B </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Series C </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">February 12, 2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.13
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">February 3, 2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.515625
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.484375
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">N/A</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">April 29, 2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.13
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">April 29, 2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.515625
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.484375
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.5549
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">July 30, 2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.13
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">July 30, 2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.515625
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.484375
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.53125
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">November 5, 2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.13
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">November 3, 2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.515625
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.484375
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.53125
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">The dividend declared on February 3, 2014 for the Series A and B preferred stock was for the period December 1, 2013 through February 28, 2014. The dividend declared on April 29, 2014 for the Series A, B and C preferred stock was for the period March 1, 2014 through May 31, 2014. The dividend declared on July 30, 2014 for the Series A, B and C preferred stock was for the period June 1, 2014 through August 31, 2014. The dividend declared on November 3, 2014 for the Series A, B and C preferred stock was for the period September 1, 2014 through November 30, 2014. </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;"> Common Stock</font><font style="display: inline;font-family:Times;font-size:10pt;">—On February 11, 2015, the Board of Directors declared a cash dividend of $0.13 per share of common stock. The dividend is payable on March 2, 2015 to common stockholders of record as the close of business on February 25, 2015. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;"> Preferred Stock</font><font style="display: inline;font-family:Times;font-size:10pt;">—On February 2, 2015, the Board of Directors declared a cash dividend of $0.515625 per share of 8.25% Series A preferred stock; a cash dividend of $0.484375 per share of 7.75% Series B preferred stock; and a cash dividend of $0.53125 per share of 8.50% Series C preferred stock. These amounts reflect dividends from December 1, 2014 through February 28, 2015 and are payable on March 2, 2015 to preferred stockholders of record on February 15, 2015. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We declared and paid distributions of $14,698, $14,500 and $12,236 for the years ended December 31, 2014, 2013 and 2012, respectively, representing the 12.5% return on the preferred shares issued to third parties by our subsidiary REIT. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We must currently distribute at least 90% of our taxable income in order to qualify as a REIT and must distribute 100% of our taxable income in order not to be subject to corporate federal income taxes on retained income. We anticipate we will distribute all of our taxable income to our stockholders. Because taxable income differs from cash flow from operations due to non-cash revenues or expenses (such as depreciation or provision for loan losses), in certain circumstances, we may generate operating cash flow in excess of our distributions or, alternatively, may be required to borrow to make sufficient distribution payments. We were in compliance with all REIT requirements as of December 31, 2014, 2013 and 2012. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> The following table presents the tax treatment for dividends paid by us on our common and preferred stock for the years ended December 31, 2014, 2013 and 2012: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="20" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">For Tax Purposes </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td rowspan="3" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" rowspan="3" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividend</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Classified</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">as Return of</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Capital </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="8" rowspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividend Classified as</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Ordinary Income </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" rowspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Capital Gain</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Distribution </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" rowspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Total</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividends</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Paid(1)</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">(in thousands) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividend</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Paid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Per Share </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Percent </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividend</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Paid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Per Share </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Qualified</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividend</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Income(2) </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Percent </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividend</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Paid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Per Share </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Percent </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Dividend</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Paid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Per Share </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td colspan="16" valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">Common Stock:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>26,030
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.520
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.520
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">2013</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,327
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.500
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.500
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">2012</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,031
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.285
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.285
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td colspan="16" valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;font-size:10pt;"></font><font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">8.25% Series A Preferred Stock:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,200
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.063
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.063
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">2013</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,667
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.719
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.719
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td colspan="16" valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;font-size:10pt;"></font><font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">7.75% Series B Preferred Stock:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,441
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.938
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.938
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">2013</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,370
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.087
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.087
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td colspan="16" valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;font-size:10pt;"></font><font style="display: inline;font-family:Times;font-weight:bold;font-size:10pt;">8.50% Series C Preferred Stock:</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"></font><font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">2014</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,456
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.617
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.617
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">—</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">2013 is the initial year for the Series A and B preferred stock dividends. 2014 is the initial year for the Series C preferred stock dividend. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">Qualified dividend income is eligible for reduced dividend rates. </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Deferred Compensation </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We have a stock incentive plan under which the Board of Directors has the authority to issue shares of stock to certain directors, officers and employees of ours and our Manager. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In May 2014, we issued 278,000 shares of restricted common stock under the 2014 Plan to certain employees of ours and our Manager with a total grant date fair value of $2.0 million and recorded $0.3 million to employee compensation and benefits and $0.3 million to selling and administrative expense in our consolidated statements of income. One third of the shares vested as of the date of grant, one third will vest in May 2015, and the remaining third will vest in May 2016. In May 2014, we also issued 63,000 shares of fully vested common stock to the independent members of the Board of Directors under the 2014 Plan and recorded $0.4 million to selling and administrative expense in our consolidated statements of income. As of December 31, 2014, unvested restricted stock consisted of 138,584 shares granted to employees of our Manager with a grant date fair value of $1.0 million, which is subject to remeasurement each reporting period, and 110,666 shares granted to our employees with a grant date fair value of $0.8 million. Expense is recognized ratably over the vesting period in our consolidated statements of income in selling and administrative expense and employee compensation and benefits expense, respectively. During the year ended December 31, 2014 we recorded the ratable portion of the unvested restricted stock to employees as employee compensation and benefits for $0.4 million and for non-employees to selling and administrative expense for $0.5 million in our consolidated statements of income. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In May 2013, we issued 70,000 shares of fully vested common stock to the independent members of the Board of Directors under the 2003 Stock Incentive Plan, as amended and restated in 2009 (the "2003 Plan"), and recorded $0.5 million to selling and administrative expense in our consolidated statements of income. In February 2013, we issued 192,750 shares of restricted common stock under the 2003 Plan to certain employees of ours and our Manager with a total grant date fair value of $1.5 million and recorded $0.2 million to employee compensation and benefits and $0.4 million to selling and administrative expense in our consolidated statements of income. One third of the shares vested as of the date of grant, one third vested in February 2014, and the remaining third will vest in February 2015. During the third quarter of 2013, a total of 667 shares of unvested restricted stock with a grant date fair value of less than $0.1 million were forfeited. As of December 31, 2013, unvested restricted stock consisted of 82,500 shares granted to non-employees with a grant date fair value of $0.7 million, which is subject to remeasurement each reporting period, and 45,333 shares granted to our employees with a grant date fair value of $0.4 million. Expense is recognized ratably over the vesting period in our consolidated statements of income in selling and administrative expense and employee compensation and benefits expense, respectively. During the year ended December 31, 2013, we recorded the ratable portion of the unvested restricted stock to employee compensation and benefits for $0.2 million and to selling and administrative expense for $0.3 million in our consolidated statements of income. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In 2012, we issued an aggregate of 90,000 shares of fully vested common stock to the non-management members of the Board of Directors, 15,000 shares of fully vested common stock to a director who was re-appointed to the Board of Directors in December 2011, 10,000 shares of fully vested common stock to a director who is also an officer of the managing member of our Manager, and 6,255 shares of fully vested common stock to a former director who was also the corporate secretary. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Vesting is dependent on a service requirement. Dividends paid on restricted shares are recorded as dividends on shares of our common stock whether or not they are vested. For accounting purposes, we measure the compensation costs for these shares as of the date of the grant, with subsequent remeasurement for any unvested shares granted to non-employees of ours with such amounts expensed against earnings, at the grant date (for the portion that vest immediately) or ratably over the respective vesting periods. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Warrants </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> In connection with a debt restructuring with Wachovia Bank in 2009, we issued Wachovia 1,000,000 warrants at an average strike price of $4.00 and an expiration date in July 2015. On July 1, 2014, we acquired and canceled all of the warrants in return for the payment of $2.6 million, recorded to additional paid in capital, which reflects a 5% discount to the prior day closing price of our common stock of $6.95. </font>
</p>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Accumulated Other Comprehensive Loss </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> At December 31, 2014, accumulated other comprehensive loss was $14.7 million and consisted of $13.9 million of net unrealized losses on derivatives designated as cash flow hedges, net deferred losses on terminated interest swaps of $1.1 million, less a $0.3 million unrealized gain related to available-for-sale securities. At December 31, 2013, accumulated other comprehensive loss was $25.2 million and consisted of $26.3 million of net unrealized losses on derivatives designated as cash flow hedges and a $1.1 million unrealized gain related to available-for-sale securities. </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> Reclassifications out of accumulated other comprehensive loss for the years ended December 31, 2014 and 2013 were as follows: </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:00.64%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="5" rowspan="2" valign="bottom" style="width:28.30%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, </font></p>
</td>
<td valign="bottom" style="width:00.86%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:19.72%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:00.86%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td rowspan="2" valign="bottom" style="width:19.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Statement of Income Caption </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td valign="bottom" style="width:00.64%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2014 </font></p>
</td>
<td valign="bottom" style="width:00.86%;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:13.72%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">2013 </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net realized losses on derivatives designated as cash flow hedges:</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Interest Rate Swaps</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.44%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(10,706,246
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.44%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(14,131,036
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">)</font></p>
</td>
<td valign="bottom" style="width:19.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:12pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Interest expense(1) </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:19.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:19.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Net realized gain on sale of available-for-sale investments:</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:12.44%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:right;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.72%;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:9pt 0pt 0pt 20pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">RMBS investments</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.44%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>431,476
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:01.28%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<br /><font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:12.44%;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>100,000
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:19.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:9pt 0pt 0pt;text-align:center;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Other income(2) </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:19.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:50.48%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:00.64%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:01.28%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:12.44%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:00.86%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:19.72%;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:center;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div><hr style="border-bottom-style:solid;width:26%;height:1.5pt; ;color:#000000" align="left"></hr>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:15;margin-left:0pt;">
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(1)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt 0pt 12pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">See Note 8—"Derivative Financial Instruments" for additional details. </font></p>
</td>
</tr>
<tr style="CellSpacing:15;">
<td valign="top" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">(2)</font></p>
</td>
<td valign="middle" style="width:auto;padding:0.9pt 0.9pt 0.9pt 0.9pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">See Note 4—"Securities" for additional details. </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt 5pt 10pt;text-indent: -10pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-style:italic;font-size:10pt;">Noncontrolling Interest </font>
</p>
<p style="margin:5pt 0pt;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> We had a noncontrolling interest representing a third party's one third interest in the equity of a consolidated subsidiary that owns an investment that carried a note payable related to the exchange of a profits interest transaction. In the fourth quarter of 2013, the entity's operating agreement was amended to provide joint control to the members of the entity, and therefore, the entity was deconsolidated. Upon completion of this transaction, we deconsolidated the entity and noncontrolling interest was reduced to zero. For the years ended December 31, 2013 and 2012, we recorded income of $0.1 million and $0.2 million, respectively, as well as distributions of $2.1 million and $0.2 million, respectively, attributable to the noncontrolling interest. </font>
</p>
<p><font size="1"> </font></p>
</div> </div>
7000000
6000000
17625000
5625000
6000000
1000000
1000000
667
121255
262750
341000
10000
6255
90000
15000
70000
63000
278000
36645500
36575500
70000
36645500
129360751
129184501
176250
129360751
6514000
6504000
10000
6514000
-7
7
642240
641027
1213
642240
1600142
1597515
2627
1600142
1989439
1986029
3410
1989439
7400000
170170
684764
684764
684764
4400000
2400000
34049310
2650767
2650767
17100916
17100916
<div> <div style="margin-left:0pt;margin-right:0pt;">
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="14" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, 2014 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Asset Class </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Number</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">of Loans </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Original</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Balance </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Original</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Weighted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Average</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Rate of</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Interest </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Modified</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Balance </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Modified</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Weighted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Average</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Rate of</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Interest </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Hotel</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35,000,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.95
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>34,750,000
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2.95
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
</tr>
</table></div>
<p style="margin:5pt 0pt;border-bottom:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;"> </font>
</p>
<p style="margin:0pt;line-height:normal;text-align:justify;text-justify:inter-ideograph;border-top:1pt none #D9D9D9 ;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-size:10pt;"> </font>
</p>
<div style="width:100%"><table cellpadding="0" cellspacing="0" align="center" style="border-collapse:collapse;width: 100.00%;CellSpacing:0;margin-left:0pt;">
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-weight:bold;"> </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="14" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Year Ended December 31, 2013 </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Asset Class </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Number</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">of Loans </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Original</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Balance </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Original</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Weighted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Average</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Rate of</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Interest </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Modified</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Unpaid</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Principal</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Balance </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
<td colspan="2" valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Modified</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Weighted</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Average</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Rate of</font><br /><font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;">Interest </font></p>
</td>
<td valign="bottom" style="width:auto;padding:0pt;">
<p style="margin:0pt;text-align:center;font-family:Times New Roman;font-size: 7pt">
<font style="display: inline;font-family:Times;font-weight:bold;font-size:7.5pt;"> </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Multifamily</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,192,666
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.96
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>6,192,666
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5.96
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Office</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,400,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8.24
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,400,000
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8.24
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt 0pt 0pt 10pt;text-indent: -10pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;font-size:10pt;">Total</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,592,666
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7.27
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">%</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">$</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,592,666
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;"> </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;;font-family:Times;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>7.27
</td>
<td valign="bottom" style="width:auto;background-color: #CCEEFF;padding:0pt;">
<p style="margin:0pt;font-family:Times New Roman;font-size: 10pt">
<font style="display: inline;font-family:Times;">% </font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
</tr>
<tr style="CellSpacing:0;">
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;text-align:right;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​ </font></p>
</td>
<td valign="bottom" style="width:auto;background-color: #FFFFFF;padding:0pt;">
<p style="margin:0pt;line-height:normal;font-family:Times New Roman;font-size: 1pt">
<font style="display: inline;font-family:Times;font-size:1.5pt;">​</font></p>
</td>
<td valign="bottom" style="width:auto;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #FFFFFF;padding:0pt;">
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