MICHAEL V. CODY 5762 First Landing Way Burke, Va. 22015 (703) 625 - 6504 mc117024c@westpost.

net _____________________________________________________________________________ PROFILE: Real estate professional with more than thirty years of experience. Ex ceptional negotiator with thorough knowledge of real estate market analyses, acq uisitions, financial analyses and development management. PROFESSIONAL EXPERIENCE: MVC PROPERTIES, INC., Fairfax, VA 2006 - Present President For a wide range of clients, MVC Properties conducts regional land acquisitions for the development of commercial, retail, residential and mixed-use properties. Since its founding, MVC Properties has brokered the purchase and sale of over $ 40 Million of property including over 400 residential lots. Services include, th e identification, negotiation and purchase of land including, all feasibility an alyses, market studies, financial projections, land planning and entitlements. CENTEX HOMES, D.C. METRO DIVISION 2003 - 2006 Land Acquisitions Manager Identified, negotiated and purchased land for residential development in the Washington Metropolitan Area. Responsible for all feasibility analyses, market s tudies, financial projections, land planning and entitlements. SERVICESTAR DEVELOPMENT COMPANY, Denver, CO 2001 - 2003 Real Estate Manager Managed regional land acquisitions for national firm for the development of reta il and mixed-use facilities in coordination with joint venture partners. Conduct ed acquisitions, development planning, governmental approval processes, financia l analysis and marketing in the Washington Metropolitan Area. INDEPENDENT BROKERAGE AND INVESTMENT 1997 - 2001 Independent consultant to real estate industry clients regarding property acquis itions, sales, leasing and development. Active investor in land for residential and commercial development. CHEVY CHASE BANK, Chevy Chase, MD 1991 - 1997 Vice President - Real Estate Owned Directed all aspects of the bank's take over of a large PUD known as Kentlands. Developed a strategy for continuing the project under bank management and then managed the $115M development of the project. Kentlands included 1,200 residenti al Michael Cody Page 2 units, 500,000 sf of retail space and significant community amenities. The proj ect was successfully completed and was featured on the cover of Time Magazine as the nation's premier neo-traditional community. Management included bank repor ting to OTS, land planning, city government approvals, construction coordination , marketing and, land sales. I also participated in strategic planning and devel opment management of numerous other REO properties for the Bank. THE SIGAL / ZUCKERMAN COMPANY, Washington, D.C. 1985 - 1991

Director of Acquisitions / Project Manager Managed relationships with joint venture partners and identified, negotiated and purchased residential and commercial properties including apartments, office bu ildings, retail facilities, hotels and land for development. Conducted a number of successful land assemblies in downtown D.C. Managed development and leasing o f a $90 MM, mixed-use project on Pennsylvania Avenue, Washington, D.C. consistin g of a 14- story luxury apartment building, 165,000 SF of Class A office space, retail stores and, a three-level underground parking garage. Also served as Prop erty Manager for three other office buildings in Washington, D.C. CHEVY CHASE BANK, Chevy Chase, MD 1980 - 1985 Director of Real Estate Identified, negotiated and purchased residential and commercial properties for d evelopment including, single family communities, apartments, office buildings, h otels, industrial properties and retail facilities throughout the Mid-Atlantic a nd Southeastern states. Responsible for the production of all feasibility analys es, market studies, development cost estimates and financial projections. I also served as the Bank's representative and real estate expert for the evaluation a nd disposition of real estate loans and assets held by Old Court Savings and Loa n during its take over by the Maryland Deposit Insurance Corp. OTHER EXPERIENCE: REAL ESTATE APPRAISAL Substantial experience in real estate appraisal including testifying as an exper t witness for the U.S. Government. REAL ESTATE SALES Licensed in Maryland and Virginia. I have traveled to every state in the USA. EDUCATION: Graduate Studies, Real Estate / Finance, American University, Wash. D .C. B.S., Business and Management, University of Maryland, College Park, MD