BHP II Limited Partnership

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BHP II Limited Partnership

Schedule B: Cash Flow By Participant

Annual

( BTY )( ATY )	Total	1987	1988	1989	1990	1991	1992	1993	1994	1995	1996	1997	1998	1999	2000	2001	2002	2003	2004
Developer ( ****)( )
Start-up Oper. Losses (exp.) ( 1 167 )	-257514	-106641	-150862	-2					-1	-1	-1	-1	-1	-1			-2		-1
Funded Expenses ( 1 169 )	-386465			-386465
Investment Adj. ( 1 320 )	4939588	-4203895	150862	8992621
Subtotal: Developer ( ****)( )	4295609	-4310536		8606154					-1	-1	-1	-1	-1	-1			-2		-1

Lender ( 7.7%)( )
Orig.Mtge(s) ( 2 240 )	-54384378			-54384378
Mtge Interest ( 2 660 )	58890673			1765006	4209760	4170288	4127626	4081514	4031674	3977805	3919580	3856647	3788627	3715107	3635643	3549755	3456922	3356584	3248134
Interest (Mtge) Variance ( 2 669 )	-1614775			-380579	-369925	-362211	-353873	-344861	-335120	-324592	-313213	-35596	16744	18813	21050	23467	26080	558592	540449
Mtge Amortization ( 2 670 )	13536289			192479	488205	527677	570339	616451	666291	720161	778385	841318	909338	982858	1062322	1148210	1241043	1341381	1449831
Mtge Amortization ( 2 670 )	42947912																		42947912
Amortization (Mtge) Variance ( 2 679 )	-2099823											-265317	-304364	-292065	-278771	-264403	-248872	-232087	-213944
Subtotal: Lender ( 7.7%)( )	57275898			-52807472	4328040	4335754	4344092	4353104	4362845	4373373	4384752	4397052	4410345	4424713	4440244	4457029	4475173	5024470	47972382

Corporate Limited Partner( )( ****)
Investment ( 3 310 )	-16000000	-9077000		-6923000
Return of Investment ( 3 370 )	12534960																		12534960
Income Taxes (Annual) ( 3 850 )	13713073			510708	916999	879528	839454	817992	842434	825955	822863	820912	853660	853414	853715	854685	890846	894582	1235327
Inc.Taxes:Equity Residual ( 3 880 )	-12534960																		-12534960
Tax Credit ( 3 890 )				316336										-316336
Tax Credit ( 3 890 )	25571301			1065471	2557130	2557130	2557130	2557130	2557130	2557130	2557130	2557130	2557130	1491659
Subtotal: Corporate Limited Partner( )( ****)	23284374	-9077000		-5030485	3474129	3436658	3396584	3375122	3399564	3383085	3379993	3378042	3410790	2028737	853715	854685	890846	894582	1235327

Other ( **)( **)
Const.Interest ( 4 155 )	4697001	4697001
Const.Loan ( 4 220 )		-26863304	-27198503	54061807
Credit Enhancement ( 4 641 )	8524750			293153	696430	688716	680378	671366	661625	651097	639718	627419	614125	599757	584227	567441	549298
Tax Credit ( 4 890 )				-316336										316336
Subtotal: Other ( **)( **)	13221751	-22166303	-27198503	54038624	696430	688716	680378	671366	661625	651097	639718	627419	614125	916093	584227	567441	549298

IRS ( )( )
Income Taxes (Annual) ( 5 850 )	-13713073			-510708	-916999	-879528	-839454	-817992	-842434	-825955	-822863	-820912	-853660	-853414	-853715	-854685	-890846	-894582	-1235327
Inc.Taxes:Equity Residual ( 5 880 )	12534960																		12534960
Tax Credit ( 5 890 )	-25571301			-1065471	-2557130	-2557130	-2557130	-2557130	-2557130	-2557130	-2557130	-2557130	-2557130	-1491659
Subtotal: IRS ( )( )	-26749415			-1576179	-3474129	-3436658	-3396584	-3375122	-3399564	-3383085	-3379993	-3378042	-3410790	-2345073	-853715	-854685	-890846	-894582	11299633

SHARP-MHFA ( 6.0%)( )
Orig.Mtge(s) ( 6 240 )	-3055085			-3055085
Mtge Interest ( 6 660 )	1967128			73502	172964	167873	162478	156762	150705	144288	137488	130284	122650	114561	105991	96910	87288	77093	66291
Mtge Amortization ( 6 670 )	2017133			34180	85475	90566	95961	101677	107733	114151	120950	128155	135789	143877	152448	161529	171150	181345	192147
Mtge Amortization ( 6 670 )	1037952																		1037952
Subtotal: SHARP-MHFA ( 6.0%)( )	1967128			-2947402	258439	258439	258439	258439	258439	258439	258439	258439	258439	258439	258439	258439	258439	258439	1296390

Underwriter/Syndctr ( )( )
Synd. Fees :Broker/Dealer ( 7 158.11)	94500			94500

Boston Hsg.Prtnrshp,Inc. ( )( )
Acquisition Fee ( 8 142.9 )	200000	200000
Dev.Fee:Residential ( 8 144.72)	1600000			1600000
Regulatory Compliance Fees ( 8 148.73)	320000	320000
Synd. Costs:Investors Svc. ( 8 158.17)	80000	80000
Subtotal: Boston Hsg.Prtnrshp,Inc. ( )( )	2200000	600000		1600000

Greater Boston Dev.Corp. ( )( )
Acquisition Fee ( 9 142.9 )	438000	438000
Legal/Organizational/Audit ( 9 148.3 )	50000	50000
Tax Counsel ( 9 148.72)	10000	10000
Subtotal: Greater Boston Dev.Corp. ( )( )	498000	498000

Local Sponsors ( )( )
Dev.Fee:Residential ( 10 144.72)	1608309	1608309
Dev.Fee:Residential ( 10 144.72)	6224791			6224791
Consulting Fees ( 10 148.7 )	1848746	1848746
Orig.Mtge(s) ( 10 240 )	-6224791			-6224791
Mtge Interest ( 10 660 )	11515863			311240	746975	746975	746975	746975	746975	746975	746975	746975	746975	746975	746975	746975	746975	746975	746975
Mtge Amortization ( 10 670 )	-11515863			-311240	-746975	-746975	-746975	-746975	-746975	-746975	-746975	-746975	-746975	-746975	-746975	-746975	-746975	-746975	-746975
Mtge Amortization ( 10 670 )	17740654																		17740654
Subtotal: Local Sponsors ( )( )	21197709	3457055																	17740654

Prof.Svcs.Firms ( )( )
Acquisition Fee ( 11 142.9 )	40000	40000
Legal/Organizational/Audit ( 11 148.3 )	50000	50000
Tax Counsel ( 11 148.72)	40000	40000
Subtotal: Prof.Svcs.Firms ( )( )	130000	130000

Total	97415555	-30868784	-27198503	1977740	5282909	5282909	5282908	5282908	5282909	5282908	5282908	5282909	5282908	5282908	5282909	5282908	5282908	5282909	79544385

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