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      <repPdEnd>2026-12-31</repPdEnd>
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        <name>DTN Waters House LLC</name>
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        <name>Plantation Crossing Apart LLC</name>
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        <name>JGK Garden Grove LP</name>
        <lei>N/A</lei>
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        <name>CROSSINGS COMPANY LP SHIRE II ASSOCIATES LP</name>
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          <maturityDt>2031-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>CATON HOUSE APARTMENTS LLC CATON HOUSE APARTMENTS LLC</name>
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          <other otherDesc="Custodian Identifier" value="942YPAII0"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2036-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>MONTROSE MANOR APRT APARTMENTS LLC</name>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>FREDWOOD LLLP FREDWOOD LLLP</name>
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        <name>NEWTON EXECUTIVE PARK LP NEWTON EXECUTIVE PARK LP</name>
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          <other otherDesc="Custodian Identifier" value="943ARM001"/>
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        <name>Tanecap 1 L.P.</name>
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        <invCountry>US</invCountry>
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          <maturityDt>2031-09-01</maturityDt>
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        <name>CROSS KEYS DEVELOPMENTCOMPANY CROSS KEYS DEVELOPMENTCOMPANY</name>
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        <title>CROSS KEYS DEVELOPMENTCOMPANY CROSS KEYS DEVELOPMENTCOMPANY</title>
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          <other otherDesc="Custodian Identifier" value="943CFD901"/>
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        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2033-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>NIEDERST PORTAGE TOWERS LLC</name>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
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          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.670000000000</annualizedRt>
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        <name>THE TRAILS ATTHE CROSSINGSAPRT A LIMITED PARTNERSHIP</name>
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        <title>THE TRAILS ATTHE CROSSINGSAPRT A LIMITED PARTNERSHIP</title>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2042-01-01</maturityDt>
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        <name>HARBOR BREEZE L.P. HARBOR BREEZE L.P.</name>
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        <issuerCat>CORP</issuerCat>
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        <name>MIDWAY MANOR APARTMENTS L.P.</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>MEADOW AND CENTRAL LIMITED PARTNERSHIP</name>
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        <title>MEADOW AND CENTRAL LIMITED PARTNERSHIP</title>
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        <invCountry>US</invCountry>
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        <name>RLIF INTERNATIONAL PARKWAY SPE LLC</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>Prime/SCRC SPE LLC</name>
        <lei>N/A</lei>
        <title>Prime/SCRC SPE, LLC</title>
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          <other otherDesc="Custodian Identifier" value="943GYYII6"/>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
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          <maturityDt>2031-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.650000000000</annualizedRt>
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        <name>BAYSIDE SQUARE INVESTMT S LLC BAYSIDE SQUARE INVESTMT S LLC</name>
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        <name>THE LINKS AT RAINBOW CURVE A LIMITED PARTNERSHIP</name>
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          <couponKind>Fixed</couponKind>
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        <name>NCHC 3 LLC  Tbd</name>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
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        <name>TOPAZ HOUSE LTD PARTNERSHIP TOPAZ HOUSE LTD PARTNERSHIP</name>
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          <other otherDesc="Custodian Identifier" value="944DMH901"/>
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        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>257 RIDGEWOOD AVE LLC 257 RIDGEWOOD AVE LLC</name>
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        <title>257 RIDGEWOOD AVE LLC 257 RIDGEWOOD AVE LLC</title>
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          <other otherDesc="Custodian Identifier" value="944FLQ907"/>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>Platt Partners L.P.</name>
        <lei>N/A</lei>
        <title>Platt Partners, L.P.</title>
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          <other otherDesc="Custodian Identifier" value="944FRG903"/>
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        <curCd>USD</curCd>
        <valUSD>11693640</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>3.442000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>BIGOS CEDARS LAKESIDE LLC BIGOS CEDARS LAKESIDE LLC</name>
        <lei>N/A</lei>
        <title>BIGOS CEDARS LAKESIDE LLC BIGOS CEDARS LAKESIDE LLC</title>
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        <identifiers>
          <other otherDesc="Custodian Identifier" value="935LQWII8"/>
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        <curCd>USD</curCd>
        <valUSD>5597337.85</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.530000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>1419 POTRERO LLC MORTGAGE BOND</name>
        <lei>N/A</lei>
        <title>1419 POTRERO, LLC MORTGAGE BOND</title>
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        <identifiers>
          <other otherDesc="Custodian Identifier" value="935NRZII6"/>
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        <balance>5119541.93</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4684641.96</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.660000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PLUM GROVE ROLLING MEADOWS LLC</name>
        <lei>N/A</lei>
        <title>PLUM GROVE ROLLING MEADOWS LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="935SYGII9"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>2792121.5</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-03-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.920000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GWL 11 CONSTITUTION LLC GWL 11 CONSTITUTION LLC</name>
        <lei>N/A</lei>
        <title>GWL 11 CONSTITUTION LLC GWL 11 CONSTITUTION LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="956AKB006"/>
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        <balance>8300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8344903</valUSD>
        <pctVal>0.3168841542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.650000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HARBOR CENTER PARTNERS LP GALTG PARTNERS LP</name>
        <lei>N/A</lei>
        <title>HARBOR CENTER PARTNERS LP GALTG PARTNERS LP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="956HGL004"/>
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        <balance>1863235.29</balance>
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        <curCd>USD</curCd>
        <valUSD>1885146.94</valUSD>
        <pctVal>0.0715853969</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2032-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.630000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WEEKS PIERCE HOLDINGS LLC WEEKS PIERCE HOLDINGS LLC</name>
        <lei>N/A</lei>
        <title>WEEKS PIERCE HOLDINGS, LLC WEEKS PIERCE HOLDINGS, LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="956KAG004"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7915033.51</valUSD>
        <pctVal>0.3005605577</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2035-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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      <invstOrSec>
        <name>PEP 1329 SOUTH CONGRESS AVENUE CONGRESS AVENUE LP</name>
        <lei>N/A</lei>
        <title>PEP 1329 SOUTH CONGRESS AVENUE CONGRESS AVENUE, LP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="956KCT004"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5138826.3</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.460000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>MONRO   PONDEROSA LLC MONRO   PONDEROSA LLC</name>
        <lei>N/A</lei>
        <title>MONRO   PONDEROSA, LLC MONRO   PONDEROSA, LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="956MHF005"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9931180</valUSD>
        <pctVal>0.3771204500</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.430000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CONTINENTAL SKYPARK LLC CONTINENTAL SKYPARK LLC</name>
        <lei>N/A</lei>
        <title>CONTINENTAL SKYPARK LLC CONTINENTAL SKYPARK LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="956WBE002"/>
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        <balance>24800000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>25385949.6</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.870000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>SM 101 THREE LLC</name>
        <lei>N/A</lei>
        <title>SM 101 THREE, LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="957IHMII0"/>
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        <curCd>USD</curCd>
        <valUSD>1974498</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.780000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>ROWLAND L.L.C. ROWLAND L.L.C.</name>
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        <title>ROWLAND, L.L.C. ROWLAND, L.L.C.</title>
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        <identifiers>
          <other otherDesc="Custodian Identifier" value="957QFFII9"/>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.540000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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        <name>PRICE LONDON PARK L.P.</name>
        <lei>N/A</lei>
        <title>PRICE LONDON PARK, L.P.</title>
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        <identifiers>
          <other otherDesc="Custodian Identifier" value="958LVBII0"/>
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        <balance>4600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4550333.8</valUSD>
        <pctVal>0.1727915444</pctVal>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>LASSEN SELF STORAGE LP LASSEN SELF STORAGE LP</name>
        <lei>N/A</lei>
        <title>LASSEN SELF STORAGE, LP LASSEN SELF STORAGE, LP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="958XIAII1"/>
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        <units>PA</units>
        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2035-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.030000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>VOYAGER RV RESORT MHC</name>
        <lei>N/A</lei>
        <title>VOYAGER RV RESORT MHC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="964KAQ903"/>
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        <balance>36227805.78</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>35361345.35</valUSD>
        <pctVal>1.3427897260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.100000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>State Street Bank and Trust Company</name>
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        <name>SANDSTONE TUCSON LLC SANDSTONE TUCSON LLC</name>
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        <name>Americana Lakewood V LLC</name>
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        <title>PRTC, L.P.</title>
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        <name>ELSINORE DEVELOPERS LLC ELSINORE DEVELOPERS LLC</name>
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        <name>FOUR SEASONS APTMNTSLLC FOUR SEASONS APTMNTSLLC</name>
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        <name>HOWARD LEHIGH HOLDINGSLLC HOWARD LEHIGH HOLDINGSLLC</name>
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        <name>United States Treasury Bills</name>
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          <ticker value="B"/>
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        <issuerCat>UST</issuerCat>
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        <fairValLevel>2</fairValLevel>
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        <name>REGENCY APARTMENTS VANCOUVER LLC</name>
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        <name>THE LINKS AT COLUMBIA A LIMITED PARTNERSHIP</name>
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        <name>MERAMEC STATION BIG BEND INVESTORS LLC</name>
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        <name>COPPERSTONE APTS LP COPPERSTONE APTS PHASE II LP</name>
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        <name>VOLUNTEER PARKRIDGE LLC</name>
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        <name>AMERICANA ON THE RIVER LLC</name>
        <lei>N/A</lei>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
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          <maturityDt>2036-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.970000000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>THE ENCLAVE LLC</name>
        <lei>N/A</lei>
        <title>THE ENCLAVE LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="942KMS903"/>
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        <balance>5000000</balance>
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        <curCd>USD</curCd>
        <valUSD>4493215</valUSD>
        <pctVal>0.1706225507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.940000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ELIZABETH LAKE ESTATES LLC</name>
        <lei>N/A</lei>
        <title>ELIZABETH LAKE ESTATES LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="942KRN909"/>
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        <balance>4605891.05</balance>
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        <curCd>USD</curCd>
        <valUSD>4059213.24</valUSD>
        <pctVal>0.1541420379</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.920000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>1131 WILSHIRE BLVD LLC</name>
        <lei>N/A</lei>
        <title>1131 WILSHIRE BLVD LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="942KRP904"/>
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        <balance>4208422.2</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3793433.9</valUSD>
        <pctVal>0.1440494986</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.520000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NOSTALGIA PROPERTIES LLC</name>
        <lei>N/A</lei>
        <title>NOSTALGIA PROPERTIES LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="942KYR001"/>
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        <balance>16600000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>15010815.6</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.040000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Gateway Village Plaza LP</name>
        <lei>N/A</lei>
        <title>Gateway Village Plaza, LP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="942MTZ005"/>
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        <balance>5459830.73</balance>
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        <curCd>USD</curCd>
        <valUSD>5016164.88</valUSD>
        <pctVal>0.1904807240</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.420000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SWITCH BUILDING INVESTORS II LP</name>
        <lei>N/A</lei>
        <title>SWITCH BUILDING INVESTORS II LP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="942MTZ906"/>
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        <balance>3551586.81</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3162386.17</valUSD>
        <pctVal>0.1200864847</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.690000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NORTHRIDGE GARDEN ASSOCIATES LLC</name>
        <lei>N/A</lei>
        <title>NORTHRIDGE GARDEN ASSOCIATES LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="942MUAII0"/>
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        <balance>5300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4853506.8</valUSD>
        <pctVal>0.1843040473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.020000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>LASSEN ASSOCIATES LLC</name>
        <lei>N/A</lei>
        <title>LASSEN ASSOCIATES LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="942MWFII7"/>
        </identifiers>
        <balance>5300000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4853506.8</valUSD>
        <pctVal>0.1843040473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.020000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NORTHBRIDGE PARK CO OP INC</name>
        <lei>N/A</lei>
        <title>NORTHBRIDGE PARK CO OP INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="942NFY001"/>
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        <balance>8721391.16</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6799205.27</valUSD>
        <pctVal>0.2581887904</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2051-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.640000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>1600 DOVE LP + GS 1600 DOVE LLC</name>
        <lei>N/A</lei>
        <title>1600 DOVE LP + GS 1600 DOVE LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="942NKN009"/>
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        <balance>4048053.16</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3155267.18</valUSD>
        <pctVal>0.1198161526</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.670000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EDINA CROSSTOWN MEDICAL LLC</name>
        <lei>N/A</lei>
        <title>EDINA CROSSTOWN MEDICAL LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="942NVK904"/>
        </identifiers>
        <balance>11054185.61</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>9561970.04</valUSD>
        <pctVal>0.3631003007</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2041-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.230000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>PRICE GREENBRIAR PLANO LLC PRICE GREENBRIAR PLANO LLC</name>
        <lei>N/A</lei>
        <title>PRICE GREENBRIAR PLANO LLC PRICE GREENBRIAR PLANO LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="942PKEII6"/>
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        <balance>8000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7266008</valUSD>
        <pctVal>0.2759148668</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.240000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>WARWICK DEVCO L.P.</name>
        <lei>N/A</lei>
        <title>WARWICK DEVCO, L.P.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="942PWZII6"/>
        </identifiers>
        <balance>6160895.06</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5406536.59</valUSD>
        <pctVal>0.2053044564</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2033-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.880000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>BAYSHORE VILLAGE LTD. BAYSHORE VILLAGE LTD.</name>
        <lei>N/A</lei>
        <title>BAYSHORE VILLAGE, LTD. BAYSHORE VILLAGE, LTD.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="955LWRII7"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5043515</valUSD>
        <pctVal>0.1915193005</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2035-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.650000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>DS SANTA ROSA LP DS SANTA ROSA LP</name>
        <lei>N/A</lei>
        <title>DS SANTA ROSA LP DS SANTA ROSA LP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="955MAHII1"/>
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        <balance>10000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>10196090</valUSD>
        <pctVal>0.3871799775</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2035-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.730000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>UNIVERSITY FESTIVALL.C. UNIVERSITY FESTIVALL.C.</name>
        <lei>N/A</lei>
        <title>UNIVERSITY FESTIVAL,L.C. UNIVERSITY FESTIVAL,L.C.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="955SOPII5"/>
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        <balance>8330974.59</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8413834.46</valUSD>
        <pctVal>0.3195017146</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2035-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.810000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>MESA TOWN CENTER LLC MESA TOWN CENTER LLC</name>
        <lei>N/A</lei>
        <title>MESA TOWN CENTER, LLC MESA TOWN CENTER, LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="955UDLII1"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5131650</valUSD>
        <pctVal>0.1948660841</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
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        <name>WRD LINCOLN SHORES LLC WRD LINCOLN SHORES LLC</name>
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        <name>GATEWAY MHP LTD.</name>
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        <name>DOWNTOWN WOODINVILLE LLC</name>
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        <name>NATIONAL CITY PLAZA</name>
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        <name>FPACP3 GREENVILLE LLC</name>
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        <name>1360 SUMMITRIDGE RS LLC</name>
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        <name>THE FAIRWAYS AT DERBY A LIMITED PARTNERSHIP</name>
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      <invstOrSec>
        <name>KIMBERLY PARTNERS OF ALBANY LP</name>
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        <cusip>N/A</cusip>
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          <other otherDesc="Custodian Identifier" value="967DHK902"/>
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        <assetCat>LON</assetCat>
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      <invstOrSec>
        <name>GEORGETOWN MEWS OWNERS CORP. MORTGAGE BOND</name>
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          <other otherDesc="Custodian Identifier" value="967FHQ003"/>
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        <assetCat>LON</assetCat>
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        <invCountry>US</invCountry>
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        <name>FAIRGROUNDS APARTMENTS A LIMITED PARTNERSHIP</name>
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          <other otherDesc="Custodian Identifier" value="967FVP900"/>
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        <name>EASTWOOD APTS OF SPRINGDALE A LIMITED PARTNERSHIP</name>
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          <other otherDesc="Custodian Identifier" value="967FXQ005"/>
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        <name>BURROUGHS LPM LIMITED PARTERSHIP</name>
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          <other otherDesc="Custodian Identifier" value="967HCDII5"/>
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        <name>AVENTURA AT RICHMOND LLC</name>
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        <name>CLAGB LLC CML</name>
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          <maturityDt>2036-02-01</maturityDt>
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        <name>AVENTURA AT MID RIVERS LLC</name>
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          <maturityDt>2031-02-01</maturityDt>
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        <name>HARBORGATE LLC</name>
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          <maturityDt>2031-01-01</maturityDt>
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        <name>AMERICAN FORK OW LLC</name>
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        <name>WOODS MILL PARK APARTMENTS LLC</name>
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        <name>WAREHOUSE ASSOCIATES CORP CENTRE SHEPHERD LTD</name>
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        <name>REP 2035 LLC</name>
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        <name>TSCA 232 LIMITED PARTNERSHIP LIMTIED PARTERSHIP</name>
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        <name>FSH BOYLSTON INC. FSH BOYLSTON INC.</name>
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        <name>MAVERICK CREEK APTS LLC</name>
        <lei>N/A</lei>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <name>CHIMNEYS OF OAK CREEK LLC</name>
        <lei>N/A</lei>
        <title>CHIMNEYS OF OAK CREEK, LLC</title>
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          <other otherDesc="Custodian Identifier" value="990AAPBC6"/>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2035-10-01</maturityDt>
          <couponKind>Fixed</couponKind>
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          <isLoanByFund>N</isLoanByFund>
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        <name>LA VERNE VILLAGE LLC</name>
        <lei>N/A</lei>
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          <other otherDesc="Custodian Identifier" value="990AARKD0"/>
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        <name>27 VICTORIA OWNERS CORP.</name>
        <lei>N/A</lei>
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          <other otherDesc="Custodian Identifier" value="990AAZTB7"/>
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        <name>SM 101 SEVEN LLC</name>
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          <other otherDesc="Custodian Identifier" value="990ABDEM7"/>
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        <name>SM 101 TWO LLC</name>
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          <other otherDesc="Custodian Identifier" value="990ABDER6"/>
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        <name>GOLETA HOLLISTER LLC</name>
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          <other otherDesc="Custodian Identifier" value="990ABDEX3"/>
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        <name>RESNICK GRACIE MEWS LLC</name>
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          <other otherDesc="Custodian Identifier" value="990ABELB1"/>
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          <maturityDt>2035-12-01</maturityDt>
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        <name>1008 MASSACHUSETTS AVE.LLC LLC</name>
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        <name>CLIPPERTON PARTNERS L.P.</name>
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        <name>THE RESIDENCES OF AUSTIN RANCH NO. 3 M LLC</name>
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        <name>5757 LLC 5757 LLC</name>
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        <name>THE GREENS ON BLOSSOM WAY PHASE II</name>
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        <name>TEMPE SQUARE CONSOLIDATED LLC</name>
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        <name>FARLEY WHITE CHP LLC</name>
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        <name>ALISO EQUITIES LTD.</name>
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        <name>ROLLINS PARK SECTION III LIMITED PARTNERSHIP</name>
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        <name>11 WEST PARTNERS 95 LLC 11 WEST PARTNERS 95 LLC</name>
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      <invstOrSec>
        <name>Creekwood Centre Denton LLC</name>
        <lei>N/A</lei>
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        <name>RMV TERRACE SHOPS LLC</name>
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        <issuerCat>CORP</issuerCat>
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        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>LB PCH ASSOCIATES LLC LB PCH ASSOCIATES LLC</name>
        <lei>N/A</lei>
        <title>LB PCH ASSOCIATES LLC LB PCH ASSOCIATES LLC</title>
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          <other otherDesc="Custodian Identifier" value="944HQA903"/>
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        <curCd>USD</curCd>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2032-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.870000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>Willow Creek Court LLC</name>
        <lei>N/A</lei>
        <title>Willow Creek Court, LLC</title>
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          <other otherDesc="Custodian Identifier" value="944JUB001"/>
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        <curCd>USD</curCd>
        <valUSD>5810757.4</valUSD>
        <pctVal>0.2206540860</pctVal>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2052-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.530000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      <invstOrSec>
        <name>OCEAN POINTE VENTURE FUND I L OCEAN POINTE VENTURE FUND I</name>
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        <title>OCEAN POINTE VENTURE FUND I, L OCEAN POINTE VENTURE FUND I,</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="944LCQ003"/>
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        <curCd>USD</curCd>
        <valUSD>6155016.34</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2047-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.840000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <name>L+B DEPP/UCEPP 5500 PRESTON RD. INC</name>
        <lei>N/A</lei>
        <title>L+B DEPP/UCEPP 5500 PRESTON RD., INC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="944LVSII0"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>18166334</valUSD>
        <pctVal>0.6898370640</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.490000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>WILSHIRE VICTORIA II L.P.</name>
        <lei>N/A</lei>
        <title>WILSHIRE VICTORIA II, L.P.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="990ACFVG5"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>7429140.09</valUSD>
        <pctVal>0.2821095433</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.370000000000</annualizedRt>
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      <invstOrSec>
        <name>SPRUCE PARKING ASSOCIATES LP</name>
        <lei>N/A</lei>
        <title>SPRUCE PARKING ASSOCIATES LP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="990ACKVW9"/>
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        <balance>8781193.65</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8746560.62</valUSD>
        <pctVal>0.3321364507</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.640000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>CE ENTERPRISE PARTNERS ILLC CE ENTERPRISE PARTNERS ILLC</name>
        <lei>N/A</lei>
        <title>CE ENTERPRISE PARTNERS I,LLC CE ENTERPRISE PARTNERS I,LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="944MGS904"/>
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        <balance>3820269.67</balance>
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        <curCd>USD</curCd>
        <valUSD>3719651.41</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2032-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.700000000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HARBOR CENTER PARTNERS LP GALTG PARTNERS LP</name>
        <lei>N/A</lei>
        <title>HARBOR CENTER PARTNERS LP GALTG PARTNERS LP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="944RHRII5"/>
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        <balance>18100000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>17696641.5</valUSD>
        <pctVal>0.6720012532</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2032-09-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.720000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>SBCO NYC OWNER LLC</name>
        <lei>N/A</lei>
        <title>SBCO NYC OWNER, LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="990ACNDC7"/>
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        <balance>8500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>8409186</valUSD>
        <pctVal>0.3193251968</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2031-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.010000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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        <name>LINCOLN TOWERS APARTMENTS LIMITED PARTNERSHIP</name>
        <lei>N/A</lei>
        <title>LINCOLN TOWERS APARTMENTS LIMITED PARTNERSHIP</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="990ACNDD5"/>
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        <curCd>USD</curCd>
        <valUSD>4531057.24</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.610000000000</annualizedRt>
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        <name>SPECTRUM 6 LLC</name>
        <lei>N/A</lei>
        <title>SPECTRUM 6 LLC</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Custodian Identifier" value="990ACNZZ2"/>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34036734</valUSD>
        <pctVal>1.2924897588</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>MEADOWS PLAZA ASSOCIATES LLC</name>
        <lei>N/A</lei>
        <title>MEADOWS PLAZA ASSOCIATES, LLC</title>
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          <other otherDesc="Custodian Identifier" value="990ACRZB6"/>
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        <curCd>USD</curCd>
        <valUSD>3932683.34</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
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          <maturityDt>2036-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.720000000000</annualizedRt>
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        <name>PLAZA INV. A CALIFORNIA LIMITED PARTNERSHIP</name>
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        <title>PLAZA INV., A CALIFORNIA LIMITED PARTNERSHIP</title>
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          <other otherDesc="Custodian Identifier" value="990ACRZD2"/>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2033-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.200000000000</annualizedRt>
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        <name>HARBOR PACIFIC PROPERTIES LLC</name>
        <lei>N/A</lei>
        <title>HARBOR PACIFIC PROPERTIES, LLC</title>
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        <identifiers>
          <other otherDesc="Custodian Identifier" value="990ACXRE6"/>
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        <curCd>USD</curCd>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>3</fairValLevel>
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          <maturityDt>2036-05-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.390000000000</annualizedRt>
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        <name>CRH CAPITAL PROPERTIES LLC</name>
        <lei>N/A</lei>
        <title>CRH CAPITAL PROPERTIES, LLC</title>
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          <other otherDesc="Custodian Identifier" value="990ACYNG3"/>
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        <curCd>USD</curCd>
        <valUSD>3447052</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
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          <maturityDt>2036-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.540000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>PLAZA CO OP CITY LLC</name>
        <lei>N/A</lei>
        <title>PLAZA CO OP CITY LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="990ADBEA5"/>
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        <curCd>USD</curCd>
        <valUSD>10531182.56</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.800000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AMERICARE HEALTH + RETIREMENT LLC</name>
        <lei>N/A</lei>
        <title>AMERICARE HEALTH + RETIREMENT, LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="990ADFEV0"/>
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        <balance>6500000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6596817.5</valUSD>
        <pctVal>0.2505034431</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
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          <maturityDt>2036-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>MONTECITO MKT PL ASSOCIATES MONTECITO THIRD ST PARTNERS</name>
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          <other otherDesc="Custodian Identifier" value="990ADNZY4"/>
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        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
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          <other otherDesc="Custodian Identifier" value="990ADPER7"/>
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        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>2101 PSB LLC</name>
        <lei>N/A</lei>
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          <other otherDesc="Custodian Identifier" value="990ADXWP4"/>
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        <curCd>USD</curCd>
        <valUSD>5016995</valUSD>
        <pctVal>0.1905122465</pctVal>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-08-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.840000000000</annualizedRt>
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        <name>ELIZABETH LAKE ESTATES L.L.C.</name>
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          <other otherDesc="Custodian Identifier" value="990AEFKQ3"/>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
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          <maturityDt>2031-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
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        <name>AMAN INC. AMAN INC.</name>
        <lei>N/A</lei>
        <title>AMAN INC. AMAN INC.</title>
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          <other otherDesc="Custodian Identifier" value="944RJMII4"/>
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        <balance>21521675.8</balance>
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        <curCd>USD</curCd>
        <valUSD>20775411.69</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2029-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.170000000000</annualizedRt>
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        <name>PEACERANCHPEACE ANCH MADISON PEACERANCHSBLLC</name>
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        <title>PEACERANCH,PEACE ANCH MADISON PEACERANCHSBLLC</title>
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          <other otherDesc="Custodian Identifier" value="944RXQ908"/>
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        <curCd>USD</curCd>
        <valUSD>5000240</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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        <name>AROW FREMONT BLVD LLC AROWLITTLEFIELD AROWVOLPEY</name>
        <lei>N/A</lei>
        <title>AROW FREMONT BLVD LLC AROWLITTLEFIELD AROWVOLPEY</title>
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          <other otherDesc="Custodian Identifier" value="944SQGII7"/>
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        <curCd>USD</curCd>
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        <pctVal>0.1888632526</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
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          <maturityDt>2027-11-05</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.420000000000</annualizedRt>
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      <invstOrSec>
        <name>JB IV V LLC JB IV V LLC</name>
        <lei>N/A</lei>
        <title>JB IV V LLC JB IV V LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="944UBZ004"/>
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        <balance>5000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4832340</valUSD>
        <pctVal>0.1835002724</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>4.580000000000</annualizedRt>
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        <name>CONTINENTAL PLAZA LLC CONTINENTAL PLAZA LLC</name>
        <lei>N/A</lei>
        <title>CONTINENTAL PLAZA, LLC CONTINENTAL PLAZA, LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="944XZA007"/>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.490000000000</annualizedRt>
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        <name>LN BEAR CREEK LLC LN BEAR CREEK LLC</name>
        <lei>N/A</lei>
        <title>LN BEAR CREEK, LLC LN BEAR CREEK, LLC</title>
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          <other otherDesc="Custodian Identifier" value="944XZA908"/>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.490000000000</annualizedRt>
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        <name>MCCUE VENTURES LLC MCCUE VENTURES LLC</name>
        <lei>N/A</lei>
        <title>MCCUE VENTURES LLC MCCUE VENTURES LLC</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Custodian Identifier" value="952EEJII4"/>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
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        <name>CRAWFORD LONG CPI LLC CRAWFORD LONG CPI LLC</name>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <couponKind>Fixed</couponKind>
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        <name>INTERPARK HOLDINGS LLC INTERPARK HOLDINGS LLC</name>
        <lei>N/A</lei>
        <title>INTERPARK HOLDINGS, LLC INTERPARK HOLDINGS, LLC</title>
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          <other otherDesc="Custodian Identifier" value="952QSGII8"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <couponKind>Fixed</couponKind>
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        <name>SRB1 LLC SRB1 LLC</name>
        <lei>N/A</lei>
        <title>SRB1, LLC SRB1, LLC</title>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>5.670000000000</annualizedRt>
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        <name>HCFD ROUND ROCK LTD. HCFD ROUND ROCK LTD.</name>
        <lei>N/A</lei>
        <title>HCFD ROUND ROCK, LTD. HCFD ROUND ROCK, LTD.</title>
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        <curCd>USD</curCd>
        <valUSD>10762044.67</valUSD>
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        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
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          <couponKind>Fixed</couponKind>
          <annualizedRt>6.070000000000</annualizedRt>
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          <isNonCashCollateral>N</isNonCashCollateral>
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        <name>LAHABRAWESTRIDGE PARTNERS L.P.</name>
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        <title>LAHABRAWESTRIDGE PARTNERS, L.P.</title>
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          <other otherDesc="Custodian Identifier" value="954HBPII4"/>
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        <curCd>USD</curCd>
        <valUSD>20589320</valUSD>
        <pctVal>0.7818460267</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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        <name>BGN PROPERTIES COVINA PALMS LP BGN PROPERTIES COVINA PALMS L</name>
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        <name>RANCHO SAN MARINO PARTNERS A CALI GENERAL PARTNERSHIP</name>
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        <name>183RD LA PALMA INVESTORS 183RD LA PALMA INVESTORS</name>
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        <name>CAVALIERAPATMNTSPARTNERSHIP CAVALIERAPATMNTSPARTNERSHIP</name>
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        <name>CORE POWER BRIDGEPOINTE LLC CORE POWER BRIDGEPOINTE LLC</name>
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        <name>440 WEST END APARTMENTS CORP. 440 WEST END APARTMENTS CORP.</name>
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        <curCd>USD</curCd>
        <valUSD>3609242.74</valUSD>
        <pctVal>0.1370551381</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>7.500000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>1635 DIVISADERO MEDICAL BUILDI</name>
        <lei>N/A</lei>
        <title>1635 DIVISADERO MEDICAL BUILDI</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="964LJSII9"/>
        </identifiers>
        <balance>5796114.14</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5962636.5</valUSD>
        <pctVal>0.2264214484</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2030-06-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>REHCO LOAN LLC REHCO LOAN LLC</name>
        <lei>N/A</lei>
        <title>REHCO LOAN LLC REHCO LOAN LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="943ECF905"/>
        </identifiers>
        <balance>4674572.33</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>3473015.58</valUSD>
        <pctVal>0.1318821327</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2051-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.000000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>West Valley Properties Inc.</name>
        <lei>N/A</lei>
        <title>West Valley Properties, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="943EPY009"/>
        </identifiers>
        <balance>7000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>5530441</valUSD>
        <pctVal>0.2100095254</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2036-12-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.780000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BWP CROWN VALLEY 1 LLC BWP CROWN VALLEY 2 LLC</name>
        <lei>N/A</lei>
        <title>BWP CROWN VALLEY 1 LLC BWP CROWN VALLEY 2 LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="943FTH009"/>
        </identifiers>
        <balance>15000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>11847510</valUSD>
        <pctVal>0.4498899731</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2037-04-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.020000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>8421 LYNDALE AVENUE SOUTH LLC 8421 LYNDALE AVENUE SOUTH LLC</name>
        <lei>N/A</lei>
        <title>8421 LYNDALE AVENUE SOUTH LLC 8421 LYNDALE AVENUE SOUTH LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Custodian Identifier" value="943GBFII2"/>
        </identifiers>
        <balance>4705354.77</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>4432260.68</valUSD>
        <pctVal>0.1683079092</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>LON</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>3</fairValLevel>
        <debtSec>
          <maturityDt>2028-11-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>2.580000000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Returns are reported without deduction of sales loads and redemption fees, if applicable." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-07-27</ncom:dateSigned>
      <ncom:nameOfApplicant>John Hancock GA Mortgage Trust</ncom:nameOfApplicant>
      <ncom:signature>/s/Heidi Knapp</ncom:signature>
      <ncom:signerName>Heidi Knapp</ncom:signerName>
      <ncom:title>Treasurer and Chief Financial Officer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
