Demo Mixed Use Facility

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Demo Mixed Use Facility

Schedule B: Cash Flow By Participant

Annual

( BTY )( ATY )	Total	1988	1989	1990	1991	1992	1993	1994	1995	1996
Developer( **)( **)
Start-up Oper. Losses (exp.) ( 1 167)	-422177		-32617	-389560
Equity Residual ( 1 196)	1051638									1051638
Investment Adj. ( 1 320)
Equity Required (Add'l) (EQ) ( 1 390)	-203967				-34546				-105812	-63609
Equity Required (Add'l) (EQ) ( 1 390)	37611									37611
Participation Variance ( 1 683)								19756	14297	-34053
Participation Variance ( 1 683)	140903									140903
Participation Variance ( 1 683)	-95581									-95581
Special Return of Equity ( 1 686)	274050				45675	45675	45675	45675	45675	45675
Special Return of Equity ( 1 686)	-10406									-10406
Net Cash Flow (NCF) ( 1 699)	36565									36565
Income Taxes (from Disb.) ( 1 840)								-6717	-4861	11578
Income Taxes (from Disb.) ( 1 840)	-47907									-47907
Income Taxes (from Disb.) ( 1 840)	32498									32498
Income Taxes (Annual) ( 1 850)	-99420		5626	19493	-16450	-20581	-24392	-25599	-18108	-19409
Inc.Taxes:Equity Residual ( 1 880)	-94416									-94416
Subtotal: Developer( **)( **)	599391		-26990	-370066	-5321	25094	21283	33115	-68809	991086

Lender ( ****)( )
Financing Fees ( 2 158)	569174		569174
Orig.Mtge(s) ( 2 240)	-1238919		-1238919
Mtge Interest ( 2 660)	876280		30959	123408	122669	121852	120950	119953	118852	117636
Mtge Amortization ( 2 670)	69619		1658	7060	7800	8617	9519	10516	11617	12833
Mtge Amortization ( 2 670)	1169300									1169300
Subtotal: Lender ( ****)( )	1445454		-637128	130469	130469	130469	130469	130469	130469	1299769

Investor ( **)( **)
Equity Residual ( 3 196)	827223									827223
Investment ( 3 310)	-500000	-500000
Participation Variance ( 3 683)								-19756	-14297	34053
Participation Variance ( 3 683)	-82945									-82945
Special Return of Equity ( 3 686)	500000				64655	96125	101606	107367	64297	65949
Net Cash Flow (NCF) ( 3 699)	36565									36565
Income Taxes (from Disb.) ( 3 840)								6717	4861	-11578
Income Taxes (from Disb.) ( 3 840)	28201									28201
Income Taxes (Annual) ( 3 850)	-89976		5092	17642	-14888	-18626	-22075	-23167	-16388	-17565
Inc.Taxes:Equity Residual ( 3 880)	-120130									-120130
Subtotal: Investor ( **)( **)	598938	-500000	5092	17642	49767	77499	79531	71161	38473	759772

Other ( )( )
Const.Interest ( 4 155)	100509	30798	69711
Const.Loan ( 4 220)		-627108	627108
Investment ( 4 310)	-569174		-569174
Equity Required (Add'l) (EQ) ( 4 390)	-37611									-37611
Participation Variance ( 4 683)	-140903									-140903
Participation Variance ( 4 683)	95581									95581
Participation Variance ( 4 683)	82945									82945
Subtotal: Other ( )( )	-468653	-596311	127645							12

Public ( )( ****)
Income Taxes (from Disb.) ( 5 840)								-6717	-4861	11578
Income Taxes (from Disb.) ( 5 840)								6717	4861	-11578
Income Taxes (from Disb.) ( 5 840)	47907									47907
Income Taxes (from Disb.) ( 5 840)	-32498									-32498
Income Taxes (from Disb.) ( 5 840)	-28201									-28201
Income Taxes (Annual) ( 5 850)	189396		-10718	-37135	31338	39208	46467	48765	34496	36974
Inc.Taxes:Equity Residual ( 5 880)	214546									214546
Subtotal: Public ( )( ****)	391150		-10718	-37135	31338	39208	46467	48765	34496	238729

Total	2566279	-1096311	-542099	-259091	206253	272269	277750	283511	134629	3289368

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