Ben Farahi

BEN FARAHI has been Co-Chairman of the Board, Chief Financial
Officer, Secretary, and Treasurer of Monarch since its inception,
and of Golden Road since June 1993. From 1973 until June 1993,
Mr. Farahi was Secretary, Treasurer, and a Director of Golden
Road in charge of financial planning and construction for the
company. Mr. Farahi is a partner in Farahi Investment Company,
which is engaged in real estate investment and development. Mr.
Farahi is also the managing partner of Maxum, LLC, a Nevada
limited liability company which, as of January 1, 2002, acquired
all general partnership interests of Resources Accrued Mortgage
Investors 2, L.P., a Delaware limited partnership that invests in
first and junior mortgage loans. Mr. Farahi holds a Mechanical
Engineering degree from the University of California at Berkeley
and an MBA degree in Accounting from the California State
University, Hayward.