3. Acquisition Cost: $5MM Project Development Cost: ( $ 22.2 mathrm{MM} ) Project Duration: 44 Months Bank @ 100% of Acquisition ( ( / / Y=8.25 % ) ) Bank @ ( 30 % ) of Development Costs for ( 90 % ) of the project duration Mezz @ 40% of Development Costs ( (I / Y=14.25 %) ) for ( 60 % ) of the project duration Preferred Equity @ 20% of Development Costs ( (I / Y=19.25 %) ) for ( 40 % ) of the project duration Common Equity @ The rest of Development Costs (I/ ( Y=23.0 %) ) for ( 15 % ) of the project duration Exit Strategy: Build and Holg. Refinance terms: ( 100 % ) of Total Project Cost @9.25% for 25 years. 25 year term Find: Amount borrowed from each lender/partner. Capitalized Interest for each loan/investment Total Project Cost (including Capitalized Interest) Monthly Debt Service after completion/Refinance Bonus Points: Find Effective Interest, NOI assuming ( 6 % ) Cap Rate.

3. Acquisition Cost: $5MM Project Development Cost: \$22.2MM Project Duration: 44 Months Bank @ 100\% of Acquisition ( //Y=8.25% ) Bank @ 30% of Development Costs for 90% of the project duration Mezz @ 40% of Development Costs (//Y=14.25%) for 60% of the project duration Preferred Equity @ 20% of Development Costs (I/Y=19.25%) for 40% of the project duration Common Equity @ The rest of Development Costs (//Y=23.0%) for 15% of the project duration Exit Strategy: Build and Hold Refinance terms: 100% of Total Project Cost @9.25\% for 25 years. 25 year term Find: Amount borrowed from each lender/partner. Capitalized Interest for each loan/investment Total Project Cost (including Capitalized Interest) Monthly Debt Service after completion/Refinance Bonus Points: Find Effective Interest, NOI assuming 6% Cap Rate