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Tower Point Apartments (demo)

Schedule T: Detail Of Present Value

by participant

( bty )( aty ) 0% 10% 12% 15% 18% 20% 25%
Developer( )( )              
Equity Residual ( 1 196) 95387 20759 15560 10193 6751 5159 2685
Investment Adj. ( 1 320) -539250 -490227 -481473 -468913 -456992 -449375 -431400
Net Cash Flow (NCF) ( 1 699) 49861 20752 17912 14585 12076 10739 8223
Subtotal: Developer( )( ) -394003 -448716 -448001 -444135 -438164 -433476 -420493
               
Lender ( 7.3%)( )              
Orig.Mtge(s) ( 2 240) -5567000 -5060909 -4970536 -4840870 -4717797 -4639167 -4453600
Mtge Interest ( 2 660) 5,253,678 2,498,677 2,208,867 1,860,000 1,588,328 1,439,620 1,150,051
Interest (Mtge) Variance ( 2 669) 259635 119685 105258 88011 74687 67440 53440
Mtge Amortization ( 2 670) 1,439,993 586935 504805 409007 337171 299051 227690
Mtge Amortization ( 2 670) 4,127,007 898157 673204 441032 292094 223221 116165
Subtotal: Lender ( 7.3%)( ) 5,513,313 -957455 -1478401 -2042820 -2425516 -2609835 -2906255
               
Investor ( 5.2%)( 3.9%)              
Equity Residual ( 3 196) 9,204,824 2,003,238 1,501,506 983671 651483 497870 259093
Investment ( 3 310) -7430348 -6754862 -6634239 -6461172 -6296905 -6191957 -5944278
Net Cash Flow (NCF) ( 3 699) 4,811,549 2,002,589 1,728,555 1,407,456 1,165,369 1,036,340 793477
Income Taxes (Annual) ( 3 850) -291226 44130 66605 88209 99997 104206 106897
Inc.Taxes:Equity Residual ( 3 880) -1948022 -423946 -317765 -208175 -137874 -105364 -54832
Subtotal: Investor ( 5.2%)( 3.9%) 4,346,776 -3128852 -3655338 -4190011 -4517929 -4658906 -4839644
               
Other ( 8.3%)( )              
Equity Residual ( 4 196) 238467 51897 38899 25484 16878 12898 6712
Orig.Mtge(s) ( 4 240) -349500 -317727 -312054 -303913 -296186 -291250 -279600
Mtge Interest ( 4 660) 130588 63221 56056 47398 40625 36904 29626
Mtge Amortization ( 4 670) 129087 56482 49218 40626 34073 30546 23822
Mtge Amortization ( 4 670) 220413 47968 35954 23554 15600 11922 6204
Net Cash Flow (NCF) ( 4 699) 124652 51881 44781 36463 30191 26848 20556
Subtotal: Other ( 8.3%)( ) 493706 -46278 -87145 -130388 -158820 -172132 -192679
               
Public ( )( ****)              
Income Taxes (Annual) ( 5 850) 291226 -44130 -66605 -88209 -99997 -104206 -106897
Inc.Taxes:Equity Residual ( 5 880) 1,948,022 423946 317765 208175 137874 105364 54832
Subtotal: Public ( )( ****) 2,239,248 379817 251159 119966 37877 1158 -52065
               
Total 12,199,041 -4201484 -5417726 -6687388 -7502552 -7873191 -8411135


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