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Covenant Village: 9% Tax Credit (S)

Schedule E: Taxable Income

Annual

  Total 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002
Net Avail.for Debt Svc. 4,046,424 -5760 252950 256689 260327 263847 267238 270482 273563 276465 279167 281651 276507 271100 272795 274179 275223
Ground Rent -315000   -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000 -21000
Participation                                  
1st Mortgage Interest -2246143   -170208 -168371 -166351 -164131 -161691 -159009 -156060 -152819 -149256 -145339 -141034 -136301 -131099 -125380 -119094
2cd Mortgage Interest -90000   -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000
3rd Mortgage Interest -340459   -18250 -18805 -19377 -19966 -20573 -21199 -21844 -22508 -23193 -23898 -24625 -25374 -26146 -26941 -27761
Credit Enhancement -156000   -12000 -12000 -12000 -12000 -12000 -12000 -12000 -12000 -12000 -12000 -12000 -12000 -12000    
Bridge Loan Interest -603536 -100014 -193659 -155856 -110913 -43095                      
Debt Service Acctg.Adj.                                  
Schedule #Dep.4089836 1 27.5yrs -2230820   -148721 -148721 -148721 -148721 -148721 -148721 -148721 -148721 -148721 -148721 -148721 -148721 -148721 -148721 -148721
Schedule #Dep. 274800 1 5 yrs -274800   -54960 -54960 -54960 -54960 -54960                    
Schedule #Dep. 54000 1 15 yrs -54000   -3600 -3600 -3600 -3600 -3600 -3600 -3600 -3600 -3600 -3600 -3600 -3600 -3600 -3600 -3600
Schedule #Dep. 0 2 7 yrs -229604                       -42221 -72379 -51699 -36928 -26377
Total -2493938 -105774 -375447 -332623 -282595 -209627 -161308 -101047 -95662 -90184 -84602 -78907 -122694 -154275 -127470 -94392 -77330


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