| |
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|
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
| |
Yr. 1 |
Yr. 2 |
Yr. 3 |
Yr. 4 |
Yr. 5 |
Yr. 6 |
Yr. 7 |
Yr. 8 |
Yr. 9 |
Yr. 10 |
| |
2003 |
2004 |
2005 |
2006 |
2007 |
2008 |
2009 |
2010 |
2011 |
2012 |
|
|
|
| OPERATING CASH FLOWS |
|
|
|
|
|
| Net Operating Income |
143,916 |
189,550 |
199,027 |
208,980 |
219,427 |
230,400 |
241,920 |
254,016 |
266,716 |
280,051 |
|
|
|
|
Loan #1, Retired Date |
12 / 05 |
12
/ 05 |
12
/ 05 |
12
/ 05 |
12
/ 05 |
12
/ 05 |
12
/ 05 |
12
/ 05 |
12
/ 05 |
12
/ 05 |
|
Loan #1, Active Periods |
11 |
12 |
11 |
- |
- |
- |
- |
- |
- |
- |
|
Loan #1, Monthly Pmt |
11,601 |
11,601 |
11,601 |
11,601 |
11,601 |
11,601 |
11,601 |
11,601 |
11,601 |
11,601 |
|
Loan #1, Debt Service |
127,611 |
139,212 |
127,611 |
- |
- |
- |
- |
- |
- |
- |
|
|
|
|
Loan #2, Retired Date |
12 / 05 |
12
/ 05 |
12
/ 05 |
12
/ 05 |
12
/ 05 |
12
/ 05 |
12
/ 05 |
12
/ 05 |
12
/ 05 |
12
/ 05 |
|
Loan #2, Active Periods |
11 |
12 |
11 |
- |
- |
- |
- |
- |
- |
- |
|
Loan #2, Monthly Pmt |
1,875 |
1,875 |
1,875 |
1,875 |
1,875 |
1,875 |
1,875 |
1,875 |
1,875 |
1,875 |
|
Loan #2, Debt Service |
20,625 |
22,500 |
20,625 |
- |
- |
- |
- |
- |
- |
- |
|
|
|
|
Loan #3, Retired Date |
12 / 35 |
12
/ 35 |
12
/ 35 |
12
/ 35 |
12
/ 35 |
12
/ 35 |
12
/ 35 |
12
/ 35 |
12
/ 35 |
12
/ 35 |
|
Loan #3, Active Periods |
- |
- |
1 |
12 |
12 |
12 |
12 |
12 |
12 |
12 |
|
Loan #3, Monthly Pmt |
14,675 |
14,675 |
14,675 |
14,675 |
14,675 |
14,675 |
14,675 |
14,675 |
14,675 |
14,675 |
|
Loan #3, Debt Service |
- |
- |
14,675 |
176,100 |
176,100 |
176,100 |
176,100 |
176,100 |
176,100 |
176,100 |
|
|
|
|
Loan #4, Retired Date |
00 / 00 |
00
/ 00 |
00
/ 00 |
00
/ 00 |
00
/ 00 |
00
/ 00 |
00
/ 00 |
00
/ 00 |
00
/ 00 |
00
/ 00 |
|
Loan #4, Active Periods |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Loan #4, Monthly Pmt |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Loan #4, Debt Service |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|
|
Loan #5, Retired Date |
00 / 00 |
00
/ 00 |
00
/ 00 |
00
/ 00 |
00
/ 00 |
00
/ 00 |
00
/ 00 |
00
/ 00 |
00
/ 00 |
00
/ 00 |
|
Loan #5, Active Periods |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Loan #5, Monthly Pmt |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Loan #5, Debt Service |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
|
|
| - |
Total
Debt Service |
148,236 |
161,712 |
162,911 |
176,100 |
176,100 |
176,100 |
176,100 |
176,100 |
176,100 |
176,100 |
|
|
|
| - |
Capital
/ Tenant Improvements |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| + |
Proceeds
from Loan #2 (less Points) |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| + |
Proceeds
from Loan #3 (less Points) |
- |
- |
1,960,000 |
- |
- |
- |
- |
- |
- |
- |
| + |
Proceeds
from Loan #4 (less Points) |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| + |
Proceeds
from Loan #5 (less Points) |
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
| - |
Payoff
of Loans included in Refinance |
- |
- |
(1,591,808) |
- |
- |
- |
- |
- |
- |
- |
| + |
Interest
Earned on Cash Reserves (5%) |
3,438 |
3,706 |
3,891 |
4,086 |
4,290 |
4,505 |
4,730 |
4,966 |
5,215 |
5,475 |
|
|
|
| Cash Flow before Taxes & Reserves |
(882) |
31,544 |
408,199 |
36,966 |
47,617 |
58,805 |
70,550 |
82,882 |
95,831 |
109,426 |
| + |
Reserves
Used to Fund Shortfall |
882 |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Balance, Cash Reserves Remaining |
74,118 |
77,824 |
81,715 |
85,801 |
90,091 |
94,596 |
99,326 |
104,292 |
109,507 |
114,982 |
|
|
|
| Net Cash Flow after using Reserves |
- |
31,544 |
408,199 |
36,966 |
47,617 |
58,805 |
70,550 |
82,882 |
95,831 |
109,426 |
| - |
Tax on
Income Generated by Property |
- |
- |
- |
- |
- |
2,084 |
4,894 |
7,856 |
10,978 |
14,270 |
| |
|
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|
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|
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| Net Cash Flow after Reserves and Taxes |
- |
31,544 |
408,199 |
36,966 |
47,617 |
56,721 |
65,656 |
75,026 |
84,853 |
95,156 |
| Cumulative after Tax/Reserve Cash Flow |
- |
31,544 |
439,743 |
476,709 |
524,326 |
581,047 |
646,703 |
721,729 |
806,582 |
901,738 |
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