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Daryl J. Carter has served as a trustee since June 30, 2003. Mr. Carter is Chief Executive Officer of CharterMac Mortgage Capital, a subsidiary of CharterMac (NYSE: CHC), where he oversees a $10 billion servicing portfolio and is responsible for the overall strategic direction of the company including its national origination platform, investment strategy, credit policy, and new business development. He is also President of American Mortgage Acceptance Company (“AMAC”) (AMEX: AMC), a publicly traded real estate investment trust that CharterMac advises. Mr. Carter co-founded in 1992 Capri Capital Advisors, Irvine, California, a diversified real estate financial services firm, which included investments in commercial mortgages, mezzanine capital, and equity investments in Fannie Mae, Freddie Mac and HUD/FHA programs, along with equity and mezzanine capital investments on behalf of various public, private and labor funds. Mr. Carter is a member of the Pension Real Estate Association (PREA), a Trustee of the Urban Land Institute (ULI), Chair of the Finance Committee of the National Multifamily Housing Association (NMHA) and Vice Chairman of the Commercial Board of Governors of the Mortgage Bankers Association. Mr. Carter also served as a Director of Catellus Development Corporation (NYSE; merged with ProLogis in 2005), San Francisco, California, a publicly held real estate investment trust. | 