Ridge provides Recovery services as an alternative to customary workout methods for large-scale projects where the traditional workout loss is not acceptable. Several areas of expertise employed in a Recovery are also useful to support the same clients in preventing a recovery situation. These sub-services are also provided to our clients on an “as needed” basis and include:

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ASSESSMENT SERVICES

Ridge provides an opinion of value including identification of risk areas and methods to mitigation this risk in a preliminary report. This report will identify various approaches to realize the full value of the project.

Recovery/monitoring services

• Level 1 - non-interactive monitoring
  collecting various information on the project from operators, lenders, legal documents; evaluate the operating program, marketing approach, evaluation of sales, expense controls, draw protocol and capital projects; creation of a value enhancement program and strategic marketing program.
   

• Level 2 - interactive monitoring/advisory
  all of level 1 plus monitoring and reporting on all collateral supporting obligations of the project; establish strategies concerning cost and sale/income plans during the hold period; assess risks and exposure; establish plans to mitigate risks.
   

• Level 3 - active monitoring/recovery
  all of level 1 and 2 plus providing advice and programs to address income control, sales/marketing controls, expense controls, capital/investment controls, restructuring advice, leasing/marketing controls and program, land/title/zoning/marketing and permit procedures/controls, risk management (insurance/violations/legal/accident issues), banking and accounting controls, forensic accounting, reporting and audit controls, tax management (real estate/personal/income/transfer), refinancing and disposition management and liaison operations with buyers, lenders and investors.
   

• Level 4 - preparation of takeover activities
  levels 1 through 3 plus implementation of level 3 plans; advise concerning foreclosure proceedings and support negotiations including the setup of start up operations.

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