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Exhibit 10.2
[CAPSOURCE, INC. LETTERHEAD]
July 10, 2000
DM Mortgage Investors, LLC
2901 El Camino Avenue, Ste. 206
Las Vegas, NV 89102
Ladies and Gentlemen:
Reference is hereby made to the draft registration statement on Form S-11 (the
"Form S-11") reviewed on the date hereof by the undersigned, particularly but
without limitation the use of proceeds section thereof.
The undersigned hereby acknowledges and agrees that the Form S-11 correctly
describes our undertaking in your favor to subordinate our interest in any loan
in which DM Mortgage Investors, LLC acquires a participatory interest. The
undersigned will hold on behalf of DM Mortgage Investors, LLC any proceeds of
foreclosures or other suits, actions or proceedings until such time as all funds
owing to DM Mortgage Investors, LLC by the respective borrower under a defaulted
loan have been received by DM Mortgage Investors, LLC.
The undersigned acknowledges that DM Mortgage Investors, LLC will be relying on
our undertaking and this letter of understanding in connection with the public
offering and the disclosure contained in the Form S-11.
CAPSOURCE, INC.
By: /s/ Stephen J. Byrne
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Stephen J. Byrne, President
