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<br /> --.--- <br /> EXHIBIT VII , . <br /> 12/7/94 HEMO <br /> THE EVEREST GROUP/ARDEN HILLS <br /> ARDEN HILLS BUSINESS PARK, SOURCES AND USES STATEMENT . <br /> SOURCES, <br /> - <br /> TAX INCREMENT 3,504,111 <br /> G.O. BOND PROCEEDS 1.750.000 <br /> ADMIN FEES 5.00% OF TAX INCREMENT GENERATED 242.151 <br /> ------- <br /> TOTAL SOURCES, 5,496,261 <br /> ..-..==:""..""=== <br /> USES, <br /> CAPITALIZED INTEREST 262,500 <br /> DISCOUNT/ISSUANCE COSTS 7.00% OF BOND PROCEEDS 122,500 <br /> LAND/BUILDING ACQUISITION 5,119,429 <br /> DEMOLITION/RELOCATION 100,000 <br /> PUBLIC IMPROVEMENTS (STREETS, SEWER, WATER, ETC) 1,400. ODD <br /> SITE IMPROVEMENTS (SOIL CORRECTIONS, ENVIRONMENTAL, ETC) 1 t SOO, 000 <br /> CONTINGENCY 5. 00% OF COSTS 405,971 <br /> CITY/DEVELOPER ADMIN EXPENSES (LEGAL. FINANCIAL, DESIGN, ETC) 300,000 <br /> CARRYING COSTS - REAL ESTATE TAXES ONLY 370,617 <br /> ------------ <br /> TOTAL USES: 9,581,018 . <br /> ==-=-.....c=== <br /> SURPLUS/(OEFICIT) (4,084,756) <br /> SURPLUS/(DEFICIT) PER SQUARE FOOT OF GROSS LAND (1.34) <br /> SURPLUS/(DEFICIT) PER SQUARE FOOT OF NET USABLE LAND (1.60) <br /> ALL SOURCES AND USES ARE REFLECTED IN 1995 DOLLARS <br /> . <br /> EXPl PREPARED BY CASSERLY MOLZAHN & ASSOCIATES, INC. D5-Dec-94 <br />