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BHP II Limited Partnership

Schedule T: Detail Of Present Value

by participant

( bty )( aty ) 0% 10% 12% 15% 18% 20% 25%
Developer ( ****)( )              
Start-up Oper. Losses (exp.) ( 1 167 ) -257514 -221630 -215485 -206808 -198723 -193635 -181866
Funded Expenses ( 1 169 ) -386465 -290357 -275078 -254107 -235215 -223649 -197870
Investment Adj. ( 1 320 ) 4939588 3059246 2767559 2371307 2018911 1805583 1337658
Subtotal: Developer ( ****)( ) 4295609 2547259 2276995 1910392 1584973 1388299 957921
               
Lender ( 7.7%)( )              
Orig.Mtge(s) ( 2 240 ) -54384378 -40859788 -38709726 -35758611 -33100011 -31472441 -27844802
Mtge Interest ( 2 660 ) 58890673 23736984 20360374 16412034 13439250 11855583 8875735
Interest (Mtge) Variance ( 2 669 ) -1614775 -1332111 -1237178 -1100942 -976710 -901496 -739649
Mtge Amortization ( 2 670 ) 13536289 4580508 3807903 2937502 2310619 1988568 1409406
Mtge Amortization ( 2 670 ) 42947912 7724559 5584929 3470411 2183061 1613168 773681
Amortization (Mtge) Variance ( 2 679 ) -2099823 -549836 -428896 -298727 -210652 -167974 -97411
Subtotal: Lender ( 7.7%)( ) 57275898 -6699684 -10622594 -14338333 -16354443 -17084592 -17623040
               
Corporate Limited Partner( )( ****)              
Investment ( 3 310 ) -16000000 -13453171 -13032119 -12445028 -11905924 -11570532 -10806176
Return of Investment ( 3 370 ) 12534960 2254523 1630041 1012889 637158 470826 225810
Income Taxes (Annual) ( 3 850 ) 13713073 5339680 4561463 3659939 2987879 2632415 1968628
Inc.Taxes:Equity Residual ( 3 880 ) -12534960 -2254523 -1630041 -1012889 -637158 -470826 -225810
Tax Credit ( 3 890 )   146037 152666 156583 155746 153499 144573
Tax Credit ( 3 890 ) 25571301 12296877 10798257 8965725 7518941 6721116 5161630
Subtotal: Corporate Limited Partner( )( ****) 23284374 4329423 2480266 337218 -1243359 -2063503 -3531345
               
Other ( ****)( ****)              
Const.Interest ( 4 155 ) 4697001 4270001 4193751 4084349 3980509 3914168 3757601
Const.Loan ( 4 220 )   -6281851 -7187447 -8378855 -9395368 -9988168 -11218040
Credit Enhancement ( 4 641 ) 8524750 3682096 3186690 2597512 2145956 1902305 1437454
Tax Credit ( 4 890 )   -146037 -152666 -156583 -155746 -153499 -144573
Subtotal: Other ( ****)( ****) 13221751 1524209 40328 -1853576 -3424649 -4325194 -6167559
               
IRS ( )( )              
Income Taxes (Annual) ( 5 850 ) -13713073 -5339680 -4561463 -3659939 -2987879 -2632415 -1968628
Inc.Taxes:Equity Residual ( 5 880 ) 12534960 2254523 1630041 1012889 637158 470826 225810
Tax Credit ( 5 890 ) -25571301 -12296877 -10798257 -8965725 -7518941 -6721116 -5161630
Subtotal: IRS ( )( ) -26749415 -15382035 -13729678 -11612775 -9869662 -8882705 -6904448
               
SHARP-MHFA ( 6.0%)( )              
Orig.Mtge(s) ( 6 240 ) -3055085 -2295331 -2174549 -2008768 -1859419 -1767989 -1564204
Mtge Interest ( 6 660 ) 1967128 849469 736558 602412 499577 444023 337745
Mtge Amortization ( 6 670 ) 2017133 708297 592957 462021 366835 317554 228049
Mtge Amortization ( 6 670 ) 1037952 186685 134975 83872 52760 38987 18698
Subtotal: SHARP-MHFA ( 6.0%)( ) 1967128 -550880 -710059 -860464 -940247 -967425 -979712
               
Underwriter/Syndctr ( )( )              
Synd. Fees :Broker/Dealer ( 7 158.11) 94500 70999 67263 62135 57516 54688 48384
               
Boston Hsg.Prtnrshp,Inc. ( )( )              
Acquisition Fee ( 8 142.9 ) 200000 181818 178571 173913 169492 166667 160000
Dev.Fee:Residential ( 8 144.72) 1600000 1202104 1138848 1052026 973809 925926 819200
Regulatory Compliance Fees ( 8 148.73) 320000 290909 285714 278261 271186 266667 256000
Synd. Costs:Investors Svc. ( 8 158.17) 80000 72727 71429 69565 67797 66667 64000
Subtotal: Boston Hsg.Prtnrshp,Inc. ( )( ) 2200000 1747558 1674563 1573765 1482284 1425926 1299200
               
Greater Boston Dev.Corp. ( )( )              
Acquisition Fee ( 9 142.9 ) 438000 398182 391071 380870 371186 365000 350400
Legal/Organizational/Audit ( 9 148.3 ) 50000 45455 44643 43478 42373 41667 40000
Tax Counsel ( 9 148.72) 10000 9091 8929 8696 8475 8333 8000
Subtotal: Greater Boston Dev.Corp. ( )( ) 498000 452727 444643 433043 422034 415000 398400
               
Local Sponsors ( )( )              
Dev.Fee:Residential ( 10 144.72) 1608309 1462099 1435990 1398530 1362974 1340258 1286647
Dev.Fee:Residential ( 10 144.72) 6224791 4676778 4430683 4092901 3788600 3602310 3187093
Consulting Fees ( 10 148.7 ) 1848746 1680678 1650666 1607605 1566734 1540622 1478997
Orig.Mtge(s) ( 10 240 ) -6224791 -4676778 -4430683 -4092901 -3788600 -3602310 -3187093
Mtge Interest ( 10 660 ) 11515863 4502472 3842748 3076570 2504224 2201215 1635334
Mtge Amortization ( 10 670 ) -11515863 -4502472 -3842748 -3076570 -2504224 -2201215 -1635334
Mtge Amortization ( 10 670 ) 17740654 3190813 2306987 1433536 901765 666357 319587
Subtotal: Local Sponsors ( )( ) 21197709 6333590 5393644 4439670 3831473 3547237 3085231
               
Prof.Svcs.Firms ( )( )              
Acquisition Fee ( 11 142.9 ) 40000 36364 35714 34783 33898 33333 32000
Legal/Organizational/Audit ( 11 148.3 ) 50000 45455 44643 43478 42373 41667 40000
Tax Counsel ( 11 148.72) 40000 36364 35714 34783 33898 33333 32000
Subtotal: Prof.Svcs.Firms ( )( ) 130000 118182 116071 113043 110169 108333 104000
               
Total 97415555 -5508650 -12568558 -19795880 -24343912 -26383937 -29312968



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