Question: do the same with the following: EXPENSES - Scenario 3: Property insurance +10% What/where/why: Insurance markets remain tight; a 10% bump on the property &

do the same with the following: EXPENSES - Scenario 3: Property insurance +10% What/where/why: Insurance markets remain tight; a 10% bump on the property & liability line is supportable. How: Opex $762 NOI $762 ADS resets loan resizes down. Capital stack impact: Perm loan: $6,559,299 $6,548,382 (- $10,917) Soft debt: no change LIHTC equity: no change DDF: $239,997 $250,914 ( $10,917) Scoring: Neutral

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