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QUALIFICATIONS OF GERALD A. TEEL, MAI, CRE, SGA

Professional Affiliations:
Member - MAI, Member Appraisal Institute
Member - CRE, American Society of Real Estate Counselors
Member - National Golf Foundation
Member - SGA, Society of Golf Appraisers
Real Estate Broker - State of Texas, License #173066
State Certified General Appraiser in the State of Texas, TX-1320749-G
State Certified General Appraiser in the State of Louisiana, LA-0547
State Certified General Appraiser in the State of Oklahoma, OK-12349-G

Professional Officer Positions:
Ethics Administration Chair - Appraisal Institute Region VIII
Chair of the Appraisal Institute Government Relations Committee - 1996
Member of the Appraisal Institute Executive Committee - 1996
Board of Directors - Houston Association of Realtors HAR 1995
Chairman of the Commercial Investment Division - HAR 1995
Executive Committee - HAR 1995
Past President - The Counselors of Real Estate - Gulf Coast Chapter
National Board of Directors Appraisal Institute - 1991-1994, 1996
Region VIII Member to the General Appraiser Board - 1991-1994
Past Member - International Professional Practice Committee for the Society of Real Estate Appraisers
Past President - Appraisal Institute - Houston Chapter No. 33
Past President - Society of Real Estate Appraisers - Houston Chapter No. 83

Present Employment:
Owner - The Gerald A. Teel Company, Inc. a Real Estate Consultants and Appraisal group with offices at 974 Campbell Road, Houston, Texas, from 1983 to present. Formerly a partner in the firm of Dominy, Ford, McPherson & Teel, Real Estate Appraisers and Consultants from 1974 - 1983.

Clients and Types of Property Appraised:
In connection with above employment, clients include pension funds, advisors, corporations, condemnation authorities, financial institutions, attorneys, individuals, and courts. In this capacity, appraisals and consultation services have been provided on assisted living facilities, convalescent centers, retirement communities, commercial properties, subdivisions, farms, ranches, residences, apartments, industrial properties, all types of easements and a wide variety of special purpose properties including golf courses, chemical plants and oil refineries.

Education:
Electrical Engineering Degree - Texas A & M University

Instructor:
Member - Faculty for the Appraisal Institute
Courses: "Capitalization Theory & Techniques"; Course 310 and 510
"Real Estate Appraisal Principles" and The Uniform Standards of Professional Appraisal Practice Course; 400, 410 and 420
Instructor for Appraisal Institute sponsored courses for:
The Czech Chamber of Appraisers Prague, Czech Republic - 1993 The Korean Appraisal Board Seoul, South Korea - 2001 and 2002 Previous Instructor of Real Estate Appraisal Courses at Lee College, Baytown, Texas Understanding Limited Appraisals and Appraisal Reporting Options - General

Court Qualification:
Qualified as an expert witness in courts of Brazos, Brazoria, Dallas, Fort Bend, Galveston, Grimes, Harris, Jefferson, Nueces and Robertson Counties; Federal Bankruptcy Court in Texas, California, Illinois, Tennessee, New York, Florida and Utah; and Hearings for the Texas Health Facilities Commission.

Seminars:
Panel participant for the University of Texas Law School: "Valuation of Assets in Bankruptcy Conference" 1988, 1989, and 1991.

Biographical Background:
Born in Baytown, Texas, 1944, two children; Pilot in the U.S. Air Force, Vietnam; involved primarily in real estate oriented activities since 1972; i.e., brokerage, investments, development and property management.

Representative List of Clients:
Allstate Insurance Co.
American Capital Resources
Baker and Botts
Bank of America
Bank One
Bracewell and Patterson
City of Houston
Coastal Banc
Comerica Bank
C&W Manhattan Construction
Exxon/Mobil
FDIC
FHA/HUD Multi-Family Section
Fidelity Investments
Halliburton
Harris County Right of Way
Harris County Appraisal District
Hibernia Bank
John Alden Life Co.
JMB Realty Advisors
JP Morgan Chase Bank
Lee College
Locke, Liddell, Sapp
L. J. Melody Mortgage
M. D. Anderson
Metropolitan Life Insurance
Muni-Mae Midland Mortgage Co.
New York Life
Olin Corporation
Olson & Olson
Phillips Petroleum
Resolution Trust Corporation
Texas State Bank
Texas State Teachers Retirement System
Texas Department of Transportation
University of Texas - Real Estate Systems
Washington Mutual
Wells Fargo Bank