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Covenant Village: 9% Tax Credit: $1.2M PBC: Semi-Annual

Schedule E: Taxable Income

Semi-annual

  Total I'87 II'87 I'88 II'88 I'89 II'89 I'90 II'90 I'91 II'91 I'92 II'92 I'93 II'93 I'94 II'94 I'95 II'95 I'96 II'96 I'97 II'97 I'98 II'98 I'99 II'99 I' 0 II' 0 I' 1 II' 1 I' 2
Net Avail.for Debt Svc. 4,655,509 -979 27734 146033 146303 146573 147920 149263 150601 151934 153260 154579 155890 157192 158485 159768 161039 162298 163544 164776 165993 163980 161949 163114 164260 165385 166488 167568 168623 169653 170655 171628
Ground Rent -309966   -5466 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500 -10500
Participation                                                                
1st Mortgage Interest -2599726       -104283 -103748 -103187 -102599 -101982 -101336 -100658 -99947 -99202 -98421 -97601 -96743 -95842 -94898 -93908 -92870 -91782 -90641 -89445 -88191 -86877 -85498 -84053 -82538 -80949 -79283 -77537 -75706
2cd Mortgage Interest -84000       -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000 -3000
3rd Mortgage Interest -312698       -9056 -9193 -9332 -9473 -9616 -9761 -9908 -10058 -10210 -10364 -10520 -10679 -10840 -11004 -11170 -11338 -11510 -11683 -11860 -12039 -12220 -12405 -12592 -12782 -12975 -13171 -13370 -13571
Credit Enhancement -168000   -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000 -6000    
Bridge Loan Interest -265210     -10818 -66995 -65504 -44254 -41656 -19246 -16738                                            
Debt Service Acctg.Adj. -210595   -44675 -165921                                                        
Schedule #Dep.4067151 1 27.5yrs -2181472   -36974 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948 -73948
Schedule #Dep. 280800 1 5 yrs -280800   -14040 -28080 -28080 -28080 -28080 -28080 -28080 -28080 -28080 -28080 -14040                                      
Schedule #Dep. 66000 1 30 yrs -32450   -550 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100 -1100
Schedule #Dep. 0 2 7 yrs -229018                                         -38296 -32825 -28136 -24116 -20671 -17718 -15187 -13017 -13017 -13017 -13017
Total -2018427 -979 -79970 -150333 -156660 -154500 -131481 -127093 -102871 -98530 -79935 -78054 -62110 -46140 -44185 -42202 -40191 -38152 -36082 -33980 -31847 -71189 -66729 -59800 -53501 -47737 -42423 -37487 -32866 -30367 -21817 -19215


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