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NDC Covenant Village in Belle Glade - 144 Units

Schedule C: Residual Values & IROR's

(column heading(s) indicate method for calculating residual value)

  Original cost
PROJECT  
165 Capitalized Cost (TCC) 5,535,178
190 Residual Value 5,535,178
195 Land Residual 1,107,036
670 Mtge Amortization 2,324,143
710 Depreciation 2,600,490
   
NOAH Dev.Corp.(sub)  
1 196 Equity Residual 3,211,035
1 916 Pre-Tax Present Value 1,716,443
1 926 Pre-Tax Net Cash 4,024,245
   
Bond Trustee/Lender  
2 670 Mtge Amortization 2,324,143
2 916 Pre-Tax Present Value 78824
2 926 Pre-Tax Net Cash 2,360,843
   
Southeast Bank  
4 670 Mtge Amortization  
4 916 Pre-Tax Present Value 51015
4 926 Pre-Tax Net Cash 588995
   
Palm Beach County  
5 916 Pre-Tax Present Value -2196482
5 926 Pre-Tax Net Cash -1534565
   
All Participants  
99 916 Pre-Tax Present Value -350199
99 926 Pre-Tax Net Cash 5,439,517
   
NOAH Dev.Corp.(sub)  
1 936 IROR Pre-Tax  
1 938 FMRR Pre-Tax  
   
Bond Trustee/Lender  
2 936 IROR Pre-Tax 10.74
2 938 FMRR Pre-Tax 11.72
   
Southeast Bank  
4 936 IROR Pre-Tax 11.23
4 938 FMRR Pre-Tax 13.03
   
Palm Beach County  
5 936 IROR Pre-Tax  
5 938 FMRR Pre-Tax -3.72
   
All Participants  
99 936 IROR Pre-Tax 8.92
99 938 FMRR Pre-Tax 11.1


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