Demonstrate how you get the total cost and NPV value.

Present Location ?

Premises: 13,393 usable square feet with a 12% add-on factor

Term: 10 years

Base Rent: $24.00 per rentable square foot for years 1-3; $25.00 per rentable square foot for years 4-7; $27.00 per rentable square foot for years 8-10

Electricity: Included in Base Rent

Additional Rent: Tenant will reimburse Landlord for increases in Taxes and Operating Expenses over the first lease year. First Year Taxes are $2.25 per rentable square foot and initial Operating Expenses are $4.14 per rentable square foot for the first lease year.

Rent Abatement: Base Rent is abated for the first eight (8) months

Work Allowance: The Landlord?s contribution is calculated at $52.00 per usable square foot. The Tenant?s total cost of construction, architects and engineer?s fees, communications, furniture and equipment investment will be $920,200

NPV Comparison Analysis Table:

Demonstrate how you get the total cost and NPV value.

YEAR Construction Base Rent Tax. Oper. Exp. Electric RSF Cost Total Cost NPV 0 223,764 -0- -0--0- -0- 223,764 223,764 1 8.00 -0--0- 8.00 120,000 109,090 2 24.00 24.51 367,650 303,844 3 24.00 25.06 375,900 282,417 4 25.00 26.66 399,900 273,197 5 25.00 27.30 409,500 254,267 6 25.00 28.00 420,000 237,077 7 25.00 28.75 431,250 221,300 8 27.00 31.57 473,550 220,916 9 27.00 32.33 484,950 205,667 10 27.00 33.39 500,800 193,098 -0- -0- -0- -0- -0- -0- -0- -0- -0- -0- 0.18 0.33 0.37 0.69 0.58 1.08 0.81 1.49 1.06 1.94 1.32 2.43 1.61 2.96 1.91 3.42 2.25 4.14 -0- -0- -0- -0- -0- -0- -0- -0- -0- -0- -0-