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<br />EX1JTQIT 11 <br />SINGLE FAMTIJVPRO FORMA <br />June 25, 2001 <br /> <br />Property Address: 907 Morgan Avenue North <br /> <br />A. Development Costs: <br />1 <br />2 <br />3 <br />4 <br /> <br />5 <br />6 <br />7 <br />8 <br /> <br />Construction Costs <br />Contingency(May not exceed 5% of Construction Cost) <br />Marketing (May not exc-eed 3.5% of sales price) <br />Financing and Carrying Costs <br />a. Interest during construction <br />- est. no. of months = 6 <br />Interest Rate 6% <br />b. Taxes during construction <br />Post Construction <br />c. Insurance <br />d Title and recording <br />e. Legal Fees <br />f Points construction loans <br />Mortgage Loan <br />g. Closing Costs <br />h. Appraisals <br />1. Utilities <br />J. Property management (post-construction) <br />- est. no. months = 3 <br />k. Other(specify) Security System & Architectural Fees <br />l. Total <br />Developer's Fee ($7,000) <br />Acquisition <br />Demolition <br />Relocation <br />TOTAL DEVELOPMENT COSTS(1-8) <br /> <br />- ----- <br />~ <br /> <br />lB. APPRAISED VALUE <br />iCe NET INCOME OR DEFICIT (A-B) <br /> <br />,~~ <br />l '" \:> ~CJ...-> <br />.~~ <br /> <br />4 44 ./(ft(LC__,- <br />77 <br /> <br />$4.065.00 <br />300.00 <br /> <br />600.00 <br />600.00 <br />0.00 <br />0.00 <br />U.OO <br />850.00 <br />350.00 <br />600.00 <br />600.00 <br /> <br />1.375.00 <br /> <br />$135,500.00 <br /> <br />5.075.00 <br /> <br />9.340.00 <br />7,000.00 <br />5.300.00 <br /> <br />$162.215.00 <br /> <br />'$145.000.00 <br /> <br />($17,215:00 <br />