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NDC Covenant Village in Belle Glade - 144 Units

Schedule B: Cash Flow By Participant

Annual

( BTY )( ATY ) Total 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998
NOAH Dev.Corp.(sub)( )( )                          
Equity Residual ( 1 196) 3,211,035                       3,211,035
Investment Adj. ( 1 320) 191822   380822 -189000                  
Refinancing Net Proceeds ( 1 330) -1289036     60964               -1350000  
Net Cash Flow (NCF) ( 1 699) 1,910,424 134332 47871 75543 94149 113686 134199 155738 178354 202100 227034 253215 294204
Subtotal: NOAH Dev.Corp.(sub)( )( ) 4,024,245 134332 428692 -52493 94149 113686 134199 155738 178354 202100 227034 -1096785 3,505,239
                           
Bond Trustee/Lender( ****)( )                          
Financing Fees ( 2 158) 189000     189000                  
Refinancing Proceeds (gross) ( 2 248) -2700000     -2700000                  
Mtge Interest ( 2 660) 2,171,843       255312 252556 249527 246197 242537 238513 234090 229228 223884
Mtge Amortization ( 2 670) 375857       27766 30522 33551 36881 40541 44565 48988 53850 59194
Mtge Amortization ( 2 670) 2,324,143                       2,324,143
Subtotal: Bond Trustee/Lender( ****)( ) 2,360,843     -2511000 283078 283078 283078 283078 283078 283078 283078 283078 2,607,221
                           
Southeast Bank ( ****)( )                          
Const.Interest ( 4 155) 19714 19714                      
Financing Fees ( 4 158) 40500 40500                      
Const.Loan ( 4 220)                          
Orig.Mtge(s) ( 4 240) -2700000 -2700000                      
Mtge Interest ( 4 660) 528781 21375 255092 252314                  
Mtge Amortization ( 4 670) 60964 2215 27986 30763                  
Mtge Amortization ( 4 670)                          
Mortgage Balloon Payment ( 4 678) 2,639,036     2,639,036                  
Subtotal: Southeast Bank ( ****)( ) 588995 -2616196 283078 2,922,114                  
                           
Palm Beach County ( )( )                          
Const.Interest ( 5 155) 6310 6310                      
Orig.Mtge(s) ( 5 240) -1350000 -1350000                      
Investment ( 5 310) -1677000 -1677000                      
Mtge Interest ( 5 660) 136125 1125 13500 13500 13500 13500 13500 13500 13500 13500 13500 13500  
Mortgage Balloon Payment ( 5 678) 1,350,000                     1,350,000  
Subtotal: Palm Beach County ( )( ) -1534565 -3019565 13500 13500 13500 13500 13500 13500 13500 13500 13500 1,363,500  
                           
Total 5,439,517 -5501430 725270 372121 390727 410263 430777 452315 474931 498678 523612 549792 6,112,460


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