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<br /> CASH'FLOW STATEMENT
<br /> Jackson Block - Commercial
<br /> PROJECT REVENUE ASSUMPTIONS "
<br /> RENT PER TOTAL ANNUAL 411
<br /> TYPE SQ. FT. SQ.FT. REVENUE
<br /> Retail 13.00 13,000 169,000
<br /> Total Rental Income 13,000 169,000
<br /> 0 •
<br /> Total Other Income 0
<br /> 13,000 169,000
<br /> PROJECT DEBT ASSUMPTIONS
<br /> Private Debt:
<br /> Amount of Bond-Loan 1,092,525
<br /> Term Of Bond-Loan 20
<br /> Rate of Bond-Loan 6.75%
<br /> Monthly Payment 8,307
<br /> Annual Payment 99,686
<br /> 'INFLATION ASSUMPTIONS
<br /> YEAR 2006 2007 2008 2009 2010
<br /> Rental Revenue 0.00% 0.00% 0.00% 0.00% 0.00%
<br /> Other Income 0.00% 0.00% 0.00% 0.00% 0.00%
<br /> Expenses 0.00% 0.00% 0.00% 0.00% 0.00%
<br /> Vacancy 7.00% 7.00% 7.00% 7.00% 7.00%
<br /> MONTHS OPERATIN 12
<br /> CASH FLOW-;INCOME '_ . 1 411
<br /> . 2006 2007 2008 2009 2010;
<br /> Rental Revenue . ..
<br /> Retail 169,000 169,000 169,000 169,000 169,000
<br /> Total Rental 91,000 91,000 91,000 91,000 91,000
<br /> Gross Revenue 260,000 260,000 260,000 260,000 260,000
<br /> Vacancies 11,830 11,830 11,830 11,830 11,830
<br /> Effective Income 248,170 248,170 248,170 248,170 248,170
<br /> CASH FLOW-EXPENSES AND'DEBT:
<br /> ',OPERATING " 2005 . 2006 . - 2007 2008 .2009'
<br /> CAM 91,000 91,000 91,000 91,000 91,000
<br /> Capital Exp/Reserve 6,500 6,500 6,500 6,500 6,500
<br /> MISC 5,000 5,000 5,000 5,000 5,000
<br /> TOTAL EXPENSES 102,500 102,500 102,500 102,500 102,500
<br /> NET OPERATING INCOME 145,670 145,670 145,670 145,670 145,670
<br /> ABATEMENT PAYMENTS 0 0 0 0 0
<br /> CASH FLOW AVAIL. FOR DEBT SERVICE 145,670 145,670 145,670 145,670 145,670
<br /> DEBT SERVICE(-) Private 99,686 99,686 99,686 99,686 99,686
<br /> DEBT SERVICE (-)-City 0 0 0 0 0
<br /> CASH FLOW AFTER FINANCING 45,984 45,984 45,984 45,984 45,984
<br /> RETURN ON"1NVES.-ANNUAL-Limit 10% 12.63% 12:63% 12.63% 12.63% 12.63%
<br /> RETURN ON INVES.-AVERAGE 12.63% 12.63% 12.63% 12.63% 12.63% •
<br /> Page 3 of 4 Metro Plains Development Agreement Proformas
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