ACKNOWLEDGED AND AGREED:Acknowledgement and Agreement • December 21st, 2000 • California Investment Fund LLC • Real estate investment trusts
EXHIBIT B December 19, 2000 Mr. Thomas H. Potts President Dynex Capital, Inc. 4551 Cox Road Third Floor Glen Allen, VA 23060 Re: Letter of Intent for Loan to California Investment Fund, LLC ------------------------------------------------------------...California Investment Fund LLC • December 21st, 2000 • Real estate investment trusts
FREMONT INVESTMENT & LOAN ("Lender") and CALIFORNIA INVESTMENT FUND, LLC ("Borrower") are in the process of negotiating documents relating to a loan (the "Loan") in the approximate amount of $90,000,000 (the "Loan Amount") to Borrower in connection with Borrower's proposed acquisition of Dynex Capital, Inc. ("Dynex"). The Loan would be secured by, among other things, a pledge of all of Dynex's assets.
