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SoMwro : ARQUS Ver. 8.0.00
<br />Fils : 12-10-98 Financing Ftnal
<br />Property Type : Oftice d Retail
<br />Portfolio .
<br />For the Years Ending
<br />POTENTIAL (3ROSS REVENUE
<br />Base Rental Revenue
<br />Scheduled Base Rental Revenue
<br />Courthouae 3qusro
<br />CouA 6 High Streets
<br />Salem, Orepon
<br />SCHEDULE OF PROSPECTNE CASH FLOW
<br />In I~lated Doliara for the Fiscal Year beginning 7H/1997
<br />Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
<br />Jun-1998 Jun-1999 Jun-2000 Jun-2001 Jun-2002 Jun-2003 Jun-2004 Jun4005 Jun4006 Jun4007
<br />51,793,1E9 51,793,189 51,793.189 s1,793,189 _ 51.793.189 51,793.189 31,793,189 51,793,189
<br />1,793,189 1,793,189 1,793,189 1,793,189 1,793,189 1,793,189 1,793,189 1,793,189
<br />31,285
<br />8,691 3~,502
<br />10,417 43,967
<br />12
<br />213 50,692
<br />14
<br />082 57,685
<br />16
<br />023 64,960
<br />1 72,523 80,388
<br />
<br />579
<br />694 ,
<br />814 ,
<br />938 ,
<br />1,068 8,042
<br />1,202 20,145
<br />1
<br />342 22,330
<br />1
<br />487
<br />6,3~3
<br />8,110 7,638
<br />9,722 8,957
<br />11,399 10,324
<br />13,143 11,750
<br />14
<br />955 13,232
<br />16
<br />841 ,
<br />14,772
<br />18
<br />8 ,
<br />16,375
<br />
<br />1,739
<br />35,340
<br />2,083
<br />42,362
<br />2,442
<br />49
<br />667
<br />2,815
<br />57
<br />263 ,
<br />3,205
<br />65 ,
<br />3,607 ,
<br />02
<br />4,029 20,841
<br />4,464
<br />
<br />1,448
<br />1,736 ,
<br />2,036 ,
<br />2,348 ,164
<br />2,672 73,379
<br />3,006 81,922
<br />3,358 90,809
<br />3,72~
<br />4,924 5,903 6,922 7,980 9,079 10,226 11,415 12,654
<br />290 348 408 470 534 602 67p 7qg
<br />98,779 118,405 138,825 160,055 182,135 205,097 228,978 253,814
<br />Expenae Reimbursemant Revenue
<br />CLEANINO EXP
<br />PERSONNEL
<br />MINOR MAINT
<br />OTHER MAINT
<br />HVAC MAINT
<br />ELEC MAINT
<br />UTILITIES
<br />SECURITY/LIFE SAFTY
<br />MANAGMENT FEE
<br />GROUNDS/ROADS MAINT
<br />REAL PROPERTY TAX
<br />INSURANCE
<br />PROF FEES
<br />OTHER BLDG MGMT COSTS
<br />Total Reimbursement Revenue
<br />Parking Revenue
<br />TOTAL POTENTIAL GROSS REVENUE
<br />EFFECTIVE GROSS REVENUE
<br />OPERATING EXPENSES
<br />CLEANINC3 EXP
<br />PERSONNEL
<br />MINOR MAINT
<br />OTHER MAINT
<br />HVAC MAINT
<br />ELEC MAINT
<br />UTILITIES
<br />SECURITY/LIFE SAFTY
<br />MANAGMENT FEE
<br />GROUNDS/ROADS MAINT
<br />REAL PROPERTY TAX
<br />INSURANCE
<br />PROF FEES
<br />OTMER BLDG MGMT COSTS
<br />TOTAL OPERATING EXPENSES
<br />NET OPERATING INCOME
<br />130,800 136,032 141,473 147.132 153,017 159 138 165,504 172,'12q
<br />2,022,768 2,047,626 2,073,487 2,100,376 2,128,341 2,157,424 2,187,671 2,219,127
<br />2,022,768 2,047.626 2,073,487 2,100,376 2,128,341 _ 2,157,424 2,187,671 2,21g,127
<br />155,428
<br />43
<br />174 161,645
<br />44
<br />901 168,111
<br />46
<br />698 174,836
<br />48
<br />5
<br />5 181,829 18g,1p2 196,666 204,533
<br />,
<br />2,878 ,
<br />2,993 ,
<br />3,113 ,
<br />6
<br />3,238 50,508
<br />3
<br />367 52,528
<br />3
<br />502 54,630
<br />3 56,815
<br />
<br />31,661
<br />32,928
<br />34,245
<br />35,615 ,
<br />37,039 ,
<br />38,521 ,642
<br />40
<br />062 3,7gg
<br />41
<br />664
<br />40,296
<br />8
<br />635 41,908
<br />8
<br />980 43,584
<br />9
<br />340 45,328
<br />9
<br />7 47,141 49,026 ,
<br />50,988 ,
<br />53,027
<br />,
<br />175,576 ,
<br />182,599 ,
<br />189,903 ,
<br />13
<br />197,499 10,102
<br />205,399 10,506
<br />213,615 10,926
<br />222
<br />160 11,363
<br />231
<br />046
<br />7,196 7,484 7,783 8,094 8,418 8,755 ,
<br />9,105 ,
<br />9,469
<br />24,466 25,444 26,462 27,520 28,621 29,766 30,957 32,195
<br />LEASINC3 d CAPITAL COSTS
<br />MAJOR MAINT
<br />TOTAL LEASINO 8 CAPITAL COSTS
<br />CASH FLOW BEFORE DEBT SERVICE
<br />DEBT SERVICE
<br />Intereat Payments
<br />Principal Payments
<br />TOTAL DEBT SERVICE
<br />1,439 1.497 1.557 1,619 1,684 1,751 1,821 1,894
<br />490,749 510,379 530,796 552,027 574,108 597,072 _ 620,957 645,794
<br />1,532,019 1,537,247 1,542,691 1,548,349 1,554,233 1,560,352 _ 1,566 714 1,573,333
<br />23.026 23.947 24,905 25.902 26,938 28,015 _ 29,136 30,301
<br />23,076 23,947 24,905 25,902 26,938 28.015 29,136 30,301
<br />1,508,993 1,513,300 1.517,786 1,522.447 _ 1,527,295 1,532,337 1,537,578 1,543,032
<br />1,063,400 1,040,888 1,017,238 992,394 966,294 938,875 910
<br />071 87g
<br />g12
<br />445,592 468,104 491.754 516,599 542,699 570,117 _ ,
<br />598,921 ,
<br />629.180
<br />1,508,992 1,508,992 1,508,992 1,508,993 1,508,993 1,508,992 1,508,992 1,508,992
<br />Dat~ :12/10/98
<br />Time : 8:39 am ,
<br />RefX : AAP
<br />Page :1 '
<br />(cont(nued on next page)
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