Project Name Location Construction Type Code Reference Number of Units

Project Name Address

S Developments Project Name

General Information Construction Type Code Reference Site Area Number of Residentail Units Gross rentable area of Units Number of Parking Spaces Parking per unit Development Cost per Unit Loan Cost per Unit Cost Information Total Development Cost Bank Loan Balance (Capital Requried) Fees Credited at Close Developer Cash at Close Cost/sf/net rentable area Value of Building at _% cap rate Fees lelf in deal Margin Developeers Fees to be paid out over 18 months Development Breakdown Acquisition Site acquisition Tittle Cost Misc. Cost/Apraisal Escrow Cost Total Site Acquisition Consultants Archtiect Interiors Structural Landscape Electrical Mechanical Civil Soils Engineering Acoustical Total Consultants Permits & Fees Plan Examination Fee - Building Plan Examination Fee - Site Building Permit Fees Electrical Permit Fees Mechanichal Permit Fees Plumbing & Gas Site Permit Fees Miscellaneous Fees (contingency + Surcharges) Total Permits & Fees Construction (Gross Area) Residence 1 Residence 2 Residence 3 Residence 4 Landscaping Subtotal Contingency Total Construction Cost Development Expenses Legal/Historical Real-Estate Taxes Developer Fee Entitlement Fee Builders Risck Insurance Insurance E & O Insurance General Liability Insurance Bluelines/Model Leaseup Fund Control / Accounting Total Development/Marketing Expenses Interest & Loan Interest for Construction Loan 1/2 Points for construction Loan Soft Cost contingency/laon brokeer fee Total Cost Interest Residential FL Residential Code 3 3200 4

80.00%

$1,037,526.60 $830,021.28 $207,505.32

5.50%

$870,915.27

$400,000.00 $30,000.00 $2,000.00 $1,000.00 $433,000.00 41.73%

base on const. cost per sf of int. area

9.00% $2.95

$41,391.00 $9,440.00 $10,000.00 $2,000.00 $5,000.00 $5,000.00 $5,000.00 $1,000.00 $1,000.00 $79,831.00 7.69%

$432.31 $60.50 $1,316.28 $1,316.28 $1,316.28 $80.00 $210.00 $1,645.16 $6,376.80 0.61%

1600 800 800 800 300 5.00%

$120.00 $100.00 $100.00 $100.00 $20.00

$192,000.00 $80,000.00 $80,000.00 $80,000.00 $6,000.00 $438,000.00 $21,900.00 $459,900.00 44.33%

2 year dirt value $/unit $/unit

1.10% $1,000.00 $800.00 1.20%

$1,000.00 $5,000.00 $3,000.00 $2,400.00 $5,518.80 $3,500.00 $2,000.00 $5,000.00 $3,000.00 $15,000.00 $45,418.80 4.38%

prime minus 1/2 plus consultant fee

$5,000.00 $7,000.00 $1,000.00 $13,000.00 $1,037,526.60 1.25% 100.00% 4/17/2012

Total Construction & Development Cost

Project Name
General Information Construction Type Site Area Number of Residentail Units Gross rentable area of Units Number of Parking Spaces Parking per unit Rental Income Residential Unit 1 2 3 4

Description 3br/2.5 loft 2br/2bath loft 2br/2bath loft 2br/2bath loft Storage

Gross SF Area Monthly Income Annual Income 1600 $1,800.00 $21,600.00 800 $1,200.00 $14,400.00 800 $1,200.00 $21,600.00 800 $1,200.00 $14,400.00 2 @ $45 10% $90.00 $5,490.00 $549.00 $4,941.00 $1,080.00 $73,080.00 $7,308.00 $65,772.00

Total Income Vacancy Balance Annual Operating Expenses Management Manager Utilities Water & Sewer Repair & Maintenance Insurance Real Estates Taxes Total Annual Expenses Net Operating Income Value at _ cap 5.50%

3% of gross rev $/month by tenant by tenant $/unit/yr $/unit/yr % of appraised value

$200.00 $0.00 $0.00 $400.00 $150.00 1.50%

$1,973.16 $2,400.00 $0.00 $0.00 $4,800.00 $1,800.00 $6,898.50 $17,871.66 $47,900.34 $870,915.27

Project Name
General Information Construction Type Site Area Number of Residentail Units Gross rentable area of Units Number of Parking Spaces Parking per unit Funds Received From Project Archtiect Interiors Landscape Electrical Mechanical Acoustical Developer Fee Entitlement Fee E & O Insurance Construction profit 10% of const. General Liability Insurance Bluelines/Model Leaseup Fund Control / Accounting Total Income Capital Required Difference

$41,391.00 $9,440.00 $2,000.00 $5,000.00 $5,000.00 $1,000.00 $3,000.00 $2,400.00 $3,500.00 $45,990.00 $2,000.00 $5,000.00 $3,000.00 $15,000.00 $143,721.00 $207,505.32 -$63,784.32