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EXHIBIT B <br /> <br />PROJECT DESCRIPTION <br /> <br />The Evans Park Projects consist of the following: <br /> <br /> 1. The refinancing of existing mortgage indebtedness issued with respect to the <br />acquisition, construction, equipping and furnishing of a 36-unit elderly housing facility <br />owned by Evans Park, Inc. and located at 300 Evans Avenue, Elk River, Minnesota (the <br />"Mortgage Indebtedness Refinancing"), together with the rehabilitation of the facility; and <br /> <br /> 2. The financing of costs of acquisition, construction, equipping and furnishing of <br />an approximately 60-unit assisted living facility to be located at Joplin Street and U.S. <br />Highway 10, in Elk River, Minnesota and to be owned by Evans Park, Inc.(the "1998 <br />Project"). <br /> <br />B-1 <br /> <br /> <br />