QUALIFICATIONS AND EXPERIENCE

James T. (Tommy) Truett, GAA

State Certified General Appraiser / Arkansas Certification #CG-0311

Fee Appraiser since 1978

Basic Education:

Graduated from the North Little Rock, Arkansas School System

Majored in accounting and economics, University of Arkansas at Little Rock (LRU)

Special Education Courses (all successfully completed):

Principles of Real Estate, University of Arkansas, 1969

Capitalization Techniques, NAR, 1979

Graduate of Realtors Institute, (GRI) 10/31/80

Income Property/Financial Calculator Applications, NAR, 1981

Commercial Real Estate Appraisal, IREA, 1982

NAIFA course 1.1 - Principles of Residential Real Estate Appraising, 1991

NAIFA course 2.0 - Financial Analysis of Income Properties, 1991

NAIFA course 2.1 - Introduction to Income Property Appraising, 1991

NAIFA course 2.3 - Condemnation Appraising, 1991

NAIFA course 2.4 - Income Property Appraising: Investment Analysis, 1991

NAIFA course 5.0 - Professional Standards Practice, 1991

NAIFA course 9.0 - Concepts, Terminology & Techniques, 1991

Arkansas State General Certification Exam passed November 16, 1991

National Association of Environmental Risk Auditors: Course 101, 1992

National Association of Environmental Risk Auditors: Course 102, 1992

Numerous seminars and continued education:

"Testifying in Court"

"Manufactured Housing Appraisal"

"Uniform Residential Appraisal Report"

"R41C Guidelines"

FIRREA, Overview & Practical Application, 2/94

Arkansas Appraiser Licensing & Certification Board - Work Products Seminar, 9/94

Contracts & Agency Law, University of Arkansas, 9/94

Lender Selection of the Appraiser, HUD, 12/94

HUD Annual Appraiser/Underwriter Seminar, 95, 96, 97

USPAP Update/Appraisal Section of the Arkansas Realtors Association, 3/97

Efficiency & Automation through Technology in the Modern Appraisal Office, 6/98

Limited Residential Appraisals Course #012, Columbia Institute, May, 1999

Arkansas Appraiser Licensing & Certification Board - Seminar, April 18, 2000

USPAP Update, David Reinold, June 9, 2000

Rethinking the Income Approach Course #116, Columbia Institute, June 11, 2001

Appraisal Reporting Technology, Alamode, Inc., July 13 & 14, 2001

Uniform Standards of Professional Appraisal Practive USPAP, 15 Hour W/Exam, Reinold, March 17-18, 2003

Multifamily Appraiser Seminar by U.S. Dept. of HUD, Little Rock, May 20, 2004

USPAP Update, David Reinold, January 31, 2005

Developing a Scope of Work in a New or Unusual Assignment, David Reinold, February 1, 2005

Associations and Memberships:

GAA designation from the Real Estate Appraial Section of the National Board of Realtors

Member of Hot Springs, Arkansas & National Board of Realtors since 1977

Member of the Appraisal Section of National Board of Realtors

Former Senior Member (ICA), International Organization of Real Estate Appraisers, 1982

Former Senior Member (CREA), National Association of Real Estate Appraisers, 1987

Clients:

Arvest Bank, Hot Springs, AR

Arvest Mortgage Company, Lowell, AR

Arkansas National Bank, Springdale, AR

Bank of America, Hot Springs, AR, St. Louis, MO & Houston, TX

Bank of America Mortgage Company, Hot Springs, AR

Bank of Amity, Amity, AR

Bank of Hot Springs Village, Hot Springs Village, AR

Bank of the Ozarks, Little Rock & Conway, AR

Chambers Bank, Hot Springs Village, AR

Cendant Mortgage Services, Mount Laurel, NJ

City National Bank, Fort Smith, AR

Cooper Communities, Inc., Hot Springs Village, AR

CUNA Mortgage Corp., Madison, WI

Elkhorn Bank & Trust Co., Arkadelphia, AR

Farmers Bank of Hamburg, AR

First Bank of Arkansas, Jonesboro, AR

First Commercial Mortgage, Little Rock, AR

First National Bank, Hot Springs, AR

First National Bank, Mena, AR

First Trust Mortgage Company, Little Rock, AR

Heartland Community Bank, Bryant, AR

Jordan-Woosley-Crone & Keaton, Ltd, Accounting Firm

Malvern National Bank, Hot Springs, AR

Pulaski Mortgage Company, Little Rock, AR

Regions Bank, Hot Springs, AR

Security Finance, Hot Springs Village, AR

Security Mortgage Services, Hot Springs, AR

Senior Income Reverse Mortgage Corp., Chicago, IL

Simmons First National Bank, Hot Springs & Fort Smith, AR

Southern Mortgage, Little Rock, AR

Summit Bank, Hot Springs, AR

Temple-Inland Mortgage Corporation, Hot Springs, AR

Twin City Bank, No. Little Rock, AR

Union Bank of Benton, Benton, AR

US Bank, Hot Springs, AR

U.S. Department of Housing & Urban Development, Property Disposition, Little Rock, AR

Union Planters Bank, Hattiesburg, MS

US Bank, Hot Springs, AR

Village Peoples' Federal Credit Union, Hot Springs Village, AR

Community Service and Involvement:

Member of Oaklawn Rotary Club, 2003-2004 President

Secretary of the Garland County Residential Housing Facilities Board

Past Board Chairman of Belvedere Country Club

Past President of the Fountain Lake Lions Club

Past Director of Hot Springs Board of Realtors

Served on and chaired several Realtor committees