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Softwara : ARGUS Ver. 7.0.03
<br />File : marion
<br />Property Type : Otfice 6 Retail
<br />Portfolio .
<br />Courthouse Square
<br />Court 8 High Slreels
<br />Salem, Oregon
<br />SCHEDULE OF PROSPECTIVE CASH FLOW t
<br />In Inflated Dollars (or the Fiscal Year beginning 1I7/1998 '
<br />(conlinued (rom prevfous pege)
<br /> Year 1 Yeat 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year10
<br />Forthe Years Ending Dec-1998 Dec-1999 Dec-2000 Dec-2001 Dec-2002 Dec-2003 Dec-2004 Dec-2005 Dec-2006 Dec-2007
<br />HARD/CONSTRUCTION COSTS
<br />EXPENDEO TO DATE 3,430,294
<br />CONTRACTOR BID 10,245,530 5,122,765
<br />CONTRACTOR BOND 102,600 51,300
<br />TENANT IMPROVEMENTS 2,268,480 1,134,240
<br />FEES 3 INSURANCE 320,670 160,335
<br />TOTAL HARD/CONSTRUCTION COSTS 16 367,574 6,468,640
<br />SOFTIDEVELOPMENT COSTS
<br />INDIRECT COSTS 1,202,630 601,265
<br />CONTINOENCY 500,000 250,000
<br />DEVELOPMENT FEE 516,670 258,335
<br />FINANCING COSTS 1,588,475
<br />MENT COSTS
<br />O 875
<br />3
<br />807 109
<br />600
<br />1
<br />P
<br />TOTAL SOFTIDEVEL ,
<br />, ,
<br />_
<br />,
<br />T 883
<br />135
<br />21 240
<br />578
<br />7
<br />S
<br />TOTAL DEVELOPMENT COS ,
<br />, ,
<br />,
<br /> 5 883 194)
<br />6
<br />722 795
<br />548
<br />1 317
<br />1
<br />552 555
<br />990
<br />1 807
<br />1 559 1,563 779 1,567,908 1,572,199 1,576 660
<br />CASH FLOW BEFORE DEBT SERVICE )
<br />{21,13 ,
<br />,
<br />( ,
<br />, ,
<br />, ,
<br />, , _
<br />DEB7 SERVICE
<br />Interest Payments
<br />501,278
<br />1,188,745
<br />1,167,450
<br />1,144,744
<br />1,120,534
<br />1,094,721
<br />1,067,198
<br />1,037,853
<br />1,006,564
<br />t
<br />l P
<br />P
<br />i
<br />i 128 008 321,542 342,838 365,544 389,753 415,566 443,089 __ 472,435 _ 503~724
<br />eymen
<br />s
<br />nc
<br />pa
<br />r
<br />TOTAL DEBT SERVICE 629,286 1,510,287 1,510~288 1,510,288 1,510,287 1,510,287 1,510,287 1,510 288 1,570,288
<br />CASH FLOW AFTER DEBT SERVICE ($21,135,883) (;7,351,480) $38,508 542,029 545,702 $49,520 $53,492 $57,621 $61,911 $66,372
<br />==__=_
<br />BUT BEFOREINCOME TAX ezanxsax~:: saxa:za=asa s=a=sa:s=:z = :aasas=s~a a asca=oa=z= a=a=s==mca~ ==~x3a=a=== m=°________ _______~=__ ~x===
<br />Dale : t0122197
<br />Tlme : 71:14 arn
<br />Refl! : AXE
<br />Page :2
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