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601 Liberty, 1.1M sf Office, Conventional Mortgage

Schedule A: Project Cash Flow

Annual

  Total 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997
DEVELOPMENT/CAPITAL ACCTS                          
Field Expense                          
Land Development                          
Building Cost -132000 -10560 -114840 -6600                  
Tenant Improvements                          
Architecture & Engineering                          
Elevator/Escalator                          
Furniture & Equipment                          
Misc. Administration                          
Dev. Costs Expensed                          
Grants & Reimbursements                          
Contingency                          
Land -12920 -12920                      
Financing Fees -2028 -676   -1352                  
Construction Interest -20426 -368 -8236 -11822                  
Internal Interest -946     -946                  
Accounting Transfers 4151     4151                  
Capitalized Cost -164170 -24524 -123076 -16569                  
Capital Replacement -3911     -156 -303 -325 -350 -379 -409 -441 -477 -515 -556
Ending Value . 308972                       308972
Capital Before Fin 140892 -24524 -123076 -16725 -303 -325 -350 -379 -409 -441 -477 -515 308416
Principal Flows . 17561 24524 123076 531                 -130571
Developers Capital 158453     -16194 -303 -325 -350 -379 -409 -441 -477 -515 177845
                           
OPERATIONS                          
Income 355768     17903 27749 29156 31488 34007 36728 39666 42839 46266 49967
Expenses . -93116     -5590 -7522 -7522 -8123 -8773 -9475 -10233 -11052 -11936 -12891
Net Avail. for D.S. 262652     12313 20227 21634 23365 25234 27252 29433 31787 34330 37077
Debt Service -196266     -11621 -20516 -20516 -20516 -20516 -20516 -20516 -20516 -20516 -20516
Ground Rent -11219     -754 -1163 -1163 -1163 -1163 -1163 -1163 -1163 -1163 -1163
Participation .                          
Cash Flow 55167     -61 -1452 -45 1686 3555 5574 7754 10108 12651 15398
Amortization . 4641     59 261 303 351 408 473 549 638 740 859
Earnings B.N.C.C. 59808     -2 -1191 258 2037 3963 6047 8303 10746 13391 16257
Non-Cash Charges . -106599     -10581 -10593 -10609 -10625 -10644 -10663 -10685 -10708 -10732 -10759
Taxable Income -46791     -10584 -11784 -10351 -8589 -6681 -4617 -2382 38 2659 5498
                           
FINANCING SUMMARY                          
Project Cash Flow. 418833 -24156 -114840 2273 19924 21309 23014 24855 26844 28991 31310 33815 345493
Developer 110753     -10171 4137 4806 5296 5723 6182 6675 7204 7773 73129
Lender 185133     -130083 20516 20516 20516 20516 20516 20516 20516 20516 151087
Investor 73902 -12920   1163 1163 1163 1497 1957 2454 2991 3571 4197 66668
Other Entities 20426 -11236 -114840 146502                  
Public 28619     -5138 -5892 -5176 -4294 -3341 -2308 -1191 19 1330 54610


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