Φ RCP · Lux et Ordo
Φ Φ Φ

153 Winfall Boulevard

Conditional Loan Term Sheet · Hertford, NC 27944 · 06/16/2026

$622,000. 12 months. Ground-up. Clean structure.

Standalone ground-up construction loan.
$683,000 construction budget. Fully financed.

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I

Executive Summary

Ground-up construction. Borrower brings cash to close. Full construction budget financed.

Loan Amount
$622,000
Standalone construction facility
Interest Rate
13.49%
360-day year · fully drawn basis
Loan Term
12 Months
+ 3-month extension option
Desk 01

The Asset

153 Winfall Blvd, Hertford, NC 27944

  • Ground-up new construction — duplex, two units
  • Loan amount: $622,000
  • Borrower: Robert Leonardo
  • Lender: RCP Capital Partners SPV Corp or Affiliated Entity
Signal

Borrower equity position established at close. Lender capital deployed against funded gap only.

Desk 02

The Request

Capital Structure — Single Draw Facility

  • Loan amount: $622,000
  • Borrower funds equity balance and closing costs at close
  • Monthly payment (fully drawn): $6,992.31
  • Yield maintenance: 4 months minimum interest
  • Prepayment: permitted at any time — 4-month floor applies
  • Exit fee: 0%
  • All terms subject to final underwriting and credit approval
Signal

Borrower equity in at close. Clean exit. No fee at payoff.

II

Loan Structure

Twelve months. Full recourse. Borrower-controlled exit.

Desk 03

Term & Extension

Duration and Optionality

  • Initial term: 12 months from funding date
  • Extension: 3 months available at 1% per month
  • Extension requires loan in good standing and completion of mutually agreed milestones
  • Loan is not assumable
Signal

12-month primary window. Extension available to qualified borrowers in good standing.

Desk 04

Recourse & Security

Lender Protection Stack

  • Full recourse to Borrower and Guarantor — all principal, interest, and indebtedness
  • Title-insured first lien Deed of Trust / Mortgage
  • Assignment of all property and fixtures
  • 100% pledge of membership interest in Borrower entity
  • Collateral assignment of all leases, rents, contracts, licenses, and management agreements
Signal

First position. Full personal recourse. Complete lien stack.

Desk 05

Interest & Prepayment

Carry Mechanics

  • Interest rate: 13.49% per annum
  • Calculated on a 360-day year basis
  • Interest accrues on full loan proceeds from day of funding
  • Loan may be prepaid at any time
  • Minimum interest earned by Lender: 4 months
Signal

Open prepay. Four-month yield floor protects lender position.

Desk 06

Valuation & Draw

Appraisal + Fund Control

  • USPAP & FIRREA compliant appraisal — approved vendor required
  • Fund control required by Lender — cost borne by Borrower
  • Draw schedule required with materials description and bids
  • Plot plan, permits, and blueprints required prior to first draw
  • Septic and well permit required if applicable
  • GC name, contract, license, and resume required
Signal

Institutional draw cadence. Lender controls disbursement. No gap risk.

III

Fees & Closing Costs

All-in origination of 2.55%. No exit fee.

Origination Fee
2.55%
$15,861 total on $622,000
Commitment Fee
$1,500
Up-front · credited at settlement
Underwriting Fee
$1,995
Due at closing
Exit Fee
0%
No exit fee at payoff
Processing Fee
$1,295
Due at closing
Feasibility Study
$400
Internal · due at closing
Contractor Review
$200
Third-party GC review

Borrower is liable for all customary underwriting and closing costs — including but not limited to title insurance, legal fees, filing fees, and all expenses associated with the loan, whether or not the loan is ultimately consummated. Loan documents prepared by external counsel.

IV

Conditions & Requirements

Exhibit A — full diligence checklist. File complete before capital moves.

A-01

USPAP & FIRREA compliant appraisal — ordered through approved vendor

A-02

Tri-merged credit report — minimum FICO score of 679

A-03

Satisfactory title report

A-04

Government-issued identification — Driver's License and Social Security Card

A-05

Entity documents if entity is designated as borrower

A-06

Bank statements — 2 most recent months

A-07

Satisfactory insurance policy meeting all program guidelines

A-08

Verifiable track record — minimum 7 completed projects of similar scope within the past 36 months. Settlement statements required.

A-09

Written exit strategy — acceptable explanation of how borrower will exit before loan maturity

A-10

Rent roll and lease agreements if property is or will be rented

A-11

Completed FCI ACH form

A-12

Certificate of Occupancy — required upon completion as new construction

A-13

Letter of explanation for use of cash at closing

A-14

Letter of explanation for any derogatory credit in the past 24 months

A-15

AML — Certification of Beneficial Owners of Legal Entity (if entity borrower)

A-16

Detailed construction budget with proposed draw schedule, materials description, and bids if available

A-17

Plot plan and permits — if available at time of submission

A-18

Septic and well permit — required if applicable to subject property

A-19

Blueprints and architectural plans

A-20

General Contractor information — name, contract, license, and resume

A-21

Zoning classification and architectural requirements

A-22

Utility services availability verification

Notice 01

Exclusivity

Right of First Engagement

  • Lender holds exclusive right to the loan for twenty (20) business days following executed term sheet
Signal

Execute to lock the window. Capital does not hold open positions.

Notice 02

Expiration

Term Sheet Validity

  • This Conditional Term Sheet expires 5 days from June 16, 2026
  • Expiration: June 21, 2026
  • Terms subject to change if economics of the transaction materially change
Signal

Five days. Signed acceptance required to proceed.

Φ

The Signal

One asset. Clean file.
Capital ready to move.

Lux et Ordo — Light and Order in every transaction.

Strip the friction. Stack the truth. Move the capital.
Φ Φ Φ

This term sheet is conditional and does not constitute a commitment to lend.
Subject to formal credit approval, satisfactory due diligence, and documentation review.
RCP Capital Partners SPV Corp · 30 N Gould Street Ste R · Sheridan, WY 82801