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Brandon Villas of Tampa

Schedule T: Detail Of Present Value

by participant

( bty )( aty ) 0% 10% 12% 15% 18% 20% 25%
Developer( )( )              
Acquisition Fee ( 1 142.9) 68000 61818 60714 59130 57627 56667 54400
Partnership Managmt Fee (exp) ( 1 166.2) 75000 68182 66964 65217 63559 62500 60000
Start-up Oper. Losses (exp.) ( 1 167 ) -15028 -13662 -13418 -13068 -12735 -12523 -12022
Funded Expenses ( 1 169 ) -155700 -110104 -103184 -93845 -85597 -80628 -69782
Operating Reserve ( 1 173 ) -104500 -71375 -66412 -59748 -53900 -50395 -42803
Equity Residual ( 1 196 ) 1,413,363 544913 455065 349362 270043 228266 151759
Investment ( 1 310 ) -200 -182 -179 -174 -169 -167 -160
Investment Adj. ( 1 320 ) 411400 282298 262782 236490 213319 199385 169058
Investment Adj. ( 1 320 ) 104500 40289 33646 25831 19966 16877 11221
Management Fee ( 1 551 ) 585048 336615 305570 266304 234070 215729 178426
Supervisory Mgmt Fee ( 1 553 ) 50312 29759 27174 23894 21193 19651 16502
Net Cash Flow(var:taxexempt) ( 1 698 ) 8059 6505 6250 5897 5575 5375 4923
Net Cash Flow (NCF) ( 1 699 ) 34816 18103 16083 13563 11530 10390 8118
Subtotal: Developer( )( ) 2,475,069 1,193,160 1,051,057 878855 744481 671127 529640
               
Lender ( ****)( )              
Orig.Mtge(s) ( 2 240 ) -5300000 -4818182 -4732143 -4608696 -4491525 -4416667 -4240000
Mtge Interest ( 2 660 ) 6,009,613 3,605,413 3,298,222 2,906,475 2,581,684 2,395,354 2,012,263
Interest (Mtge) Variance ( 2 669 ) -544385 -400734 -379085 -349888 -324089 -308527 -274453
Mtge Amortization ( 2 670 ) 159326 69668 59653 47540 38138 33044 23359
Mtge Amortization ( 2 670 ) 5,140,685 1,981,956 1,655,163 1,270,699 982202 830249 551977
Amortization (Mtge) Variance ( 2 679 ) -11 -6 -5 -4 -3 -3 -2
Subtotal: Lender ( ****)( ) 5,465,228 438115 -98195 -733874 -1213594 -1466550 -1926857
               
Investor ( ****)( ****)              
Equity Residual ( 3 196 ) 3,297,847 1,271,463 1,061,818 815177 630101 532621 354104
Investment ( 3 310 ) -2100000 -1664179 -1594608 -1498864 -1412282 -1359086 -1239840
Return of Investment ( 3 370 ) 2,100,000 809641 676144 519088 401235 339162 225486
Net Cash Flow(var:taxexempt) ( 3 698 ) 395774 319383 306884 289533 273686 263873 241653
Net Cash Flow (NCF) ( 3 699 ) 1,705,963 887029 788077 664608 564963 509101 397805
Income Taxes (Annual) ( 3 850 ) 348707 274899 262754 245957 230718 221345 200350
Inc.Taxes:Equity Residual ( 3 880 ) -1860590 -717338 -599060 -459909 -355493 -300496 -199779
Subtotal: Investor ( ****)( ****) 3,887,700 1,180,897 902009 575591 332929 206520 -20222
               
Other ( )( )              
Const.Interest ( 4 155 ) 243288 201179 194205 184476 175540 169980 157310
Const.Loan ( 4 220 )   -167335 -192095 -225048 -253596 -270477 -306243
Net Cash Flow(var:taxexempt) ( 4 698 ) -403833 -325887 -313135 -295431 -279261 -269248 -246576
Subtotal: Other ( )( ) -160545 -292044 -311024 -336003 -357317 -369745 -395509
               
Public ( )( ****)              
Income Taxes (Annual) ( 5 850 ) -348707 -274899 -262754 -245957 -230718 -221345 -200350
Inc.Taxes:Equity Residual ( 5 880 ) 1,860,590 717338 599060 459909 355493 300496 199779
Subtotal: Public ( )( ****) 1,511,883 442439 336306 213952 124775 79151 -570
               
Total 13,179,336 2,962,567 1,880,153 598521 -368726 -879497 -1813518


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