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The Project: The Presbyterian Hornes organization's co�parate headquarter <br />o�fice building was acquired in April 1, 2001, it currenily <br />con�pri�es 24,004 square %et. Due to continued growth within the <br />Presbyterian Homes arganization �there has been a significant <br />increase in corporate support services personnel (hurnan resources, <br />accounting, finance, real estate development, etc.). Accordingly, a <br />27,000 squa�re foot addition has been designed and the Obligor is in <br />the process of obtaining City approval of its design. <br />Transaction Details: <br />� addition, proceeds of this note will be used to redeem the <br />current outstanding office building rnortgage note which is held by <br />Key Bank, Dallas, TX. <br />SOURCES & USES of FUNDS STATEMENT <br />SOURCES: <br />Tax-Exempt Note: <br />PH Downpayment: <br />PH Excess �ssuance Costs: <br />Total Sources: <br />USES: <br />Construction Costs: <br />F,F&E Costs: <br />Development Expense: <br />Architectural: <br />Siie Costs: <br />Redeem Outstanding Mortgage: <br />Financing (Issuance) Costs: <br />Total Uses: <br />Tax-exem�t Note: <br />Amount: <br />Terrn: <br />$4,865,800 <br />$4,865,800 <br />1,400,000 <br />A�3,865 <br />$Sti909�665 <br />$3,784,000 <br />650,000 <br />207,300 <br />151,200 <br />� 20,040 <br />$6a,00a <br />141,IG5 <br />$5.944.665 <br />The Ioan term will be twenty years. <br />Loan Repavment: The first 12 monthly payments will be interest-only calculated <br />upon the actual amounts advanced during construction. Thereafter, <br />the next 48 monthly payments wi11 be based upon the initial <br />interest rate and the remaining 19-year loan term calculated to <br />achieve a level monthly payment to fully amortize this note over <br />the ] 9-yeax azxaortizatian period re�aining after the completion of <br />