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Real Estate Appraisal If you meet the minimum allowable score under the credit scoring system, and Pecten Funding has received collateral site verification by your Motiva or SOPUS Marketing Representative you will be notified by Pecten Funding and the real estate appraisal process will be initiated. The appraisal will be conducted in accordance with the Pecten Funding Real Estate Appraisal Policy which conforms to Financial Institution Reform, Recovery and Enforcement Act of 1989 (“FIRREA”) and Uniform Standards of Professional Appraisal Practice (“USPAP”) practices. JP Morgan Chase Bank (as the Loan Processor for Pecten Funding) initiate the appraisal process by overnighting a completed Appraisal Request Worksheet as part of your loan application package to a Pecten Funding approved appraisal firm. Once received, a representative from the appraisal firm will review the package for completeness and contact the applicant for any additional information if necessary, and schedule a trip to appraise the site. You will be notified once Pecten Funding receives the appraised value. Pecten Funding will lend up to 85% of the appraised value. The advance rate is also a function of the outcome of the environmental assessment which is the final step of the non-financial process for obtaining a Pecten Funding loan. Floating Rate: 7.17 % The floating rate was posted on December 12, 2008 and is subject to change on a monthly basis. Please contact Pecten Funding to obtain interest rate pricing for loans to Wholesaler Supplied Dealers.