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Income Esc. 3.00% `YR`1 YR 2 'YR 3 - :;I'R 4 ' YR;S ` YR 6 YR~~ YR 8 ' T-'R 9 ' ` YR`10
<br />E ense Esc. 4:'00%
<br />Gross rent 508,080 523,322 539,022 555,193 571,849 589,004 606,674 624,874 643,621 662,929
<br />+ Other Income 9,000 9,270 9,548 9,835 10,130 10,433 10,746 11,069 11,401 11,743
<br />=Gross Income or Rent 517,080 532,592 548,570 565,027 581,978 599,437 617,421 635,943 655,021 674,672
<br />- Vacant Allowance '1% 36,196 37,281 38 400 39,552 40,738 41,961 43,219 44,516 45,852 47,227
<br />=EFFECTIVE NET RENT 480,884 495,311 510,170 525,475 541,240 557,477 574,201 591,427 609,170 627,445
<br />- Operating Ezpenses 312,216 324,705 337,693 351,201 365,249 379,859 395,053 410,855 427,289 444,381
<br />-Replacement Reserves 19,000 19,760 20,550 21,372 22,227 23,116 24,041 25;003 26,003 27,043
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<br />=NET OPERATING INCOME 149,668 150,846 151,927 152,902 153,764 154,502 155,107 155,569 155,878 156,021
<br />- CICCAR loan 125,606 125,606 125,606 125,606 125,606 125,606 125,606 125,606 125,606 125,606
<br />- RPP loan 4,540 5,564 6,504 7,352 8,101 8,743 9,270 9,672 9,944 10,064
<br />- Orange County loan 0 0 0 0 0 0 0 0 0 0
<br />Total Debt Service 130,146 131,171 132,110 132,959 133,708 134,349 134,876 135,278 135,546 135,671
<br />=CASK FLOW AVAILABLE 19,522 19,676 19,817 19,944 20,056 20,152 20,231 24,292 20,332 20,351
<br />Debt Coverage Ratio -CICCAR loan 1.19 1.20 1.21 1.22 1.22 1.23 1.23 1.24 1.24 1.24
<br />Debt Coverage Ratio- All loans 1.150 1.150 1.150 1.150 1.150 1.150 1.150 1.150 LIS(1 1.150
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<br />7/28!2008 6:10 PM
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