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Average Fee or Income Mortgage Broker Origination

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					TRANSITIONAL LIVING REVOLVING LOAN PROGRAM ADDENDUM

 PROJECT INFORMATION

 3.01      Project Name

 3.06      Is the entire project located in Qualified Census Tract?                             Yes         No
           Is the entire project located in a Federally declared County approved for
           Individual Assistance or Individual and Public Assistance?                           Yes         No
           See Appendix D.
 3.14      Is this project receiving Rural Development Rental Assistance?                       Yes         No


 APPLICABLE FRACTION
 Unit Fraction Calculation
 3.07      Number of Low-Income Units for which rent is charged
 3.08      Number of Total Units for which rent is charged
 3.09      Unit Fraction Percentage                                                         0.00%

 Floor Space Fraction Calculation
 3.10     Floor space for Low-Income Units for which rent is charged (sq. ft.)
 3.11     Floor space for Total Units for which rent is charged (sq. ft.)
 3.12     Floor Space Fraction Percentage                                                   0.00%

 3.13      Applicable Fraction Calculation                                                  0.00%

 4.01      Occupancy Type:                                <Select One>

 4.10      Elevator:                    Yes          No

 16.01     Total Syndication Proceeds

 11.01     Is there a Developer/General Partner contribution?                                         Yes        No


           If Yes, user must select one or more of the following and then describe below:


                       Cash             Amount of Contribution

                       Land             Amount of Contribution

                       Other            Amount of Contribution
PROJECT DESCRIPTION - continued                                                                                                                                                                 SECTION 4
4.15   For a Low-Income Unit, the combination of tenant-paid monthly rent and utility or utility allowance may not exceed the maximum allowable rents under Section 42 of the Code.
       Include Manager and Employee units in applicable tables below.

       Low-Income Units

                                                                                                                    Total Sq. Ft.
                                                             Number of    Number of   Total Number   Average Sq.     Per Bdrm     AMGI % Served      Monthly       Total Monthly      Utility    Gross Rent per
        Manager Unit    Employee Unit          Unit Type     Bedrooms     Bathrooms      of Units    Ft. Per Unit       Size       (30/40/50/60)      Rent            Rents        Allowance          Unit

                                                      5                                                                  0                                              $0
                                                                                                                         0                                              $0
                                                                                                                         0                                              $0
                                                                                                                         0                                              $0
                                                                                                                         0                                              $0
                                                                                                                         0                                              $0
                                                                                                                         0                                              $0
                                                                                                                         0                                              $0
                                                                                                                         0                                              $0
                                                                                                                         0                                              $0
                                                                                                                         0                                              $0
                                                                                                                         0                                              $0
                                                                                                                         0                                              $0
                                                                                                                         0                                              $0
       Totals                                                                              0                             0                                              $0

       Market Rate Units
                                                                                                                    Total Sq. Ft.
                                                             Number of    Number of     Number of    Average Sq.     Per Bdrm        Monthly       Total Monthly       Utility     Gross Rent
        Manager Unit    Employee Unit          Unit Type     Bedrooms     Bathrooms       Units      Ft. Per Unit       Size          Rent            Rents         Allowance       Per Unit

                                                                                                                         0                              $0
                                                                                                                         0                              $0
                                                                                                                         0                              $0
                                                                                                                         0                              $0
                                                                                                                         0                              $0
                                                                                                                         0                              $0
                                                                                                                         0                              $0
                                                                                                                         0                              $0
                                                                                                                         0                              $0
       Totals                                                                              0                             0                              $0

4.16   Total number of market rate units minus manager and employee units from Market Rate table:                        0

       Common Space Units (No Rent Charged)
                                                                                                                    Total Sq. Ft.
                                                             Number of    Number of     Number of    Average Sq.     Per Bdrm
        Manager Unit    Employee Unit          Unit Type     Bedrooms     Bathrooms       Units      Ft. Per Unit       Size

                                                                                                                         0
                                                                                                                         0
                                                                                                                         0
       Totals                                                                              0                             0

       (See Section 18 Utility Allowances and Exhibit 18T)

4.17   Number of Total Units for which rent is charged (Section 3.08):                                                   0
4.18   Total number of units from Low-Income and Market Rate tables (Section 4.15):                                      0




           a327bd5f-ddaa-4d8c-bc50-09ea1807da9f.xls                                                                                                                                    Page 3a
PROJECT COSTS AND ELIGIBLE BASIS                                                                                                       SECTION 13
List total Project Costs and Eligible Basis by the Credit Type
                                                                                         ELIGIBLE BASIS BY CREDIT TYPE
                                                                            New Construction                       Acquisition/Rehabilitation


                               ITEM                                        30% PV (1)      70% PV (2)                    30% PV (1)      70% PV (2)
                                                            Project Costs Eligible Basis Eligible Basis   Project Costs Eligible Basis Eligible Basis
13.01 TO PURCHASE LAND AND BUILDINGS

       Land and Broker's Fees

       Existing Structures
13.02 FOR SITE WORK

       On-site Work

       Off-site Work for Utility/Paving Extension

       Demolition

       Garages (not included in rent)
       Other(s) (Specify)
13.03 FOR CONSTRUCTION COSTS

       New Building

       Rehabilitation
       Accessory Building(s) (includes garages that are
       part of rent)
       Community Service Facility

       General Requirements

       Builder Overhead

       Builder Profit

       Builder Bond Fee

       Construction Contingency


       Other Fees (Specify)
       Less EZ Sales Tax Rebate                     (from
       Section 15.04)
       Less Builder's Eligible Basis Reduction
       (from Section 13.02)                                             0                                            0
13.04 FOR PROFESSIONAL FEES

       Architect Fees -Design

       Architect Fees -Supervision (inspection)

       Engineer Fees

       Attorney Fees (Real Estate)

       Accountant Fees
       Other(s) (Specify)
13.05 FOR INTERIM COSTS
       Construction Insurance
       Construction Interest
       Construction Loan Origination Fee
       Construction Loan Credit Enhancement
       Taxes During Construction
                SUBTOTAL -THIS PAGE -
               (spreadsheet will calculate)
(1)
      The 30% PV column is to be used for items eligible for an approximately 3.45% credit.
(2)
      The 70% PV column is to be used for items eligible for an approximately 9.00% credit.



            a327bd5f-ddaa-4d8c-bc50-09ea1807da9f.xls                                                                                  Page 9
 PROJECT COSTS AND ELIGIBLE BASIS -cont.                                                                                                         SECTION 13
                                                                                                    ELIGIBLE BASIS BY CREDIT TYPE
                                                                             New Construction                           Acquisition/Rehabilitation


                              ITEM                            PROJECT          30% PV (1)      70% PV (2)          PROJECT        30% PV (1)      70% PV (2)
                                                               COSTS          Eligible Basis Eligible Basis         COSTS        Eligible Basis Eligible Basis

                    SUBTOTALS FROM PAGE 9
13.06      FOR FINANCING FEES AND EXPENSES
           Bond Premium and/or Credit Report
           Bond Costs
           Permanent Loan Origination Fee
           Permanent Loan Credit Enhancement
           Title and Recording
           Attorney's Fees
           Letter of Credit (LOC) Fees
           Other(s) (Specify)
13.07      FOR SOFT COSTS
           Property Appraisal
           Market Study
           Environmental Report
           Tax Credit Application Fees
           Tax Credit Reservation Fee
           Tax Credit Compliance Fees
           Tax Attorney Fees
           City Impact Fees
           Furnishings and Equipment
           Capital Needs Assessment
           Tenant Relocation Costs
           Other(s) (Specify)
13.08      FOR SYNDICATION COSTS
           Organizational (Partnership)
           Bridge Loans Fees and/or Expenses
           Tax Opinion
           Other(s) (Specify)
           Project Costs before Developer/Consultant
           Fees
           FOR DEVELOPER'S/CONSULTANT'S FEES
           (3)
13.09

           Developer's Overhead
           Consultant's Fee
           Developer's Fee
           Other(s) (Specify)
13.10      FOR PROJECT RESERVE
           Rent-up Reserve
           Operating Reserve
           Other(s) (Specify)
Total Project Costs
(spreadsheet will calculate)                                                                                                                 0              0
           Reduction in Eligible Basis for Developer
13.11      Fees (Section 14.02)                                          0                                                   0
13.12      Total Project Costs                                           0                                                   0               0              0
13.13      Total Cost per Unit                                           0                                                   0
13.14      Total Construction Cost per Unit
(1)
      The 30% PV column is to be used for items eligible for an approximately 3.45% credit.
(2)
      The 70% PV column is to be used for items eligible for an approximately 9.00% credit.
(3)
      Consultant's fees, Developer's fees and Developer's overhead are limited. See Qualified Allocation Plan (QAP).


a327bd5f-ddaa-4d8c-bc50-09ea1807da9f.xls                                                                                                               Page 10
PROJECT COSTS AND ELIGIBLE BASIS - continued                                                                                                                             SECTION 13
                                                                                                                              ELIGIBLE BASIS BY CREDIT TYPE

                                                                                                                New Construction                      Acquisition/Rehabilitation

                                                                                                                    (1)                   (2)                  (1)              (2)
                                                                                              PROJECT       30% PV                70% PV               30% PV         70% PV
                                           ITEM                                                COSTS      Eligible Basis        Eligible Basis       Eligible Basis Eligible Basis


                               TOTALS FROM PAGE 10                                                                                                                   0                0


      13.15   Less portion of any grants used to finance qualifying Project costs

              List Grants:



      13.16   Less amount of non-qualified nonrecourse financing



      13.17   Less non-qualifying excess portion of higher quality units



      13.18   Less Federal Historic Tax Credit (Residential Portion Only)

      13.19
              Less Salaries and Benefits for all paid full-time staff paid for with Federal Grant Funds



      13.20   Less Community Service Facility



      13.21   TOTAL ELIGIBLE BASIS                                                                                                                                   0                0

      13.22
              130% Adjustment for high cost area (not allowed for acquisition basis Sec. 13.01)                    100%                   100%               100%              100%



      13.23   TOTAL ADJUSTED ELIGIBLE BASIS                                                                    #VALUE!                #VALUE!                        0                0

      13.24   Multiplied by the Applicable Fraction (See item 3.13 -% of Project which is low-
              income)                                                                                                   0%                      0%                 0%               0%



      13.25   130% Adjustment for high cost area Community Service Facility                                         -                       -                  -                -



      13.26   TOTAL QUALIFIED BASIS


      13.27   Multiplied by the Applicable Percentage*                                                            3.45%                  9.00%               3.45%             9.00%

              *For purposes of application. Actual % used at time of allocation may vary.


      13.28   MAXIMUM ALLOWABLE CREDIT AMOUNT
              (For application and reservation purposes only -Allocation may be less)                                     0                     0                    0                0



      13.29   COMBINED 30% AND 70% PV CREDIT                                                                              -



      13.30   TOTAL CREDIT REQUESTED PER UNIT
              (Actual amount of Tax Credit requested divided by number of low income units)


PLEASE NOTE: The actual amount of Tax Credit for the project is determined by IFA. If the Project is eligible for Federal Historic Tax Credit, include a complete
breakdown of the determination of eligible basis for the Federal Historic Credit with the Threshold Application.

(1)
      The 30% PV column is to be used for items eligible for an approximately 3.45% credit.
(2)
      The 70% PV column is to be used for items eligible for an approximately 9.00% credit.




       a327bd5f-ddaa-4d8c-bc50-09ea1807da9f.xls                                                                                                                           Page 11
Builder, Developer Fee and Other Limits                                                                        SECTION 14
14.01   Builder's Profit, Overhead, & General Requirements as a Percentage of Hard Construction Costs.

                                   Maximum %
                                    Allowed                               14%


                                                                                               New                Acquisition/
                                                                                            Construction         Rehabilitation
                      Builder Fees:
                              Overhead                                                                     0                      0
                              Profit                                                                       0                      0
                             General Requirements                                                          0                      0
                      Total Builder Fees:                                                                  0                      0

                      Other Costs:
                              Site Work                                                                    0                      0
                              Architect and Engineer Fees                                                  0                      0
                              New Structures                                                               0                      0
                              Rehabilitation                                                                                      0
                              Accessory Structures                                                         0                      0
                              Contingency/Other Fees                                                       0                      0
                      Total Costs for calculating Builder Fees:                                            0                      0
                      Maximum Allowable Builder Fees:                                                      0                      0
                      Amount of Eligible Basis Reduction                                                   0                      0

14.02   Aggregate Developer Fees, Overhead, Consultant Fee Limits

                                                                                Maximum %
              Type of Units
                                                                                 Allowed
              New Construction                                                    15%
              Acquisition/Rehabilitation                                          17%          New                Acquisition/
                                                                                            Construction         Rehabilitation

        Total Project Costs (before Developer fee and reserves)
              Less Land and Broker's Fees                                                                  0                      0
        Total Costs for calculating Developer/Consultant Fees:                                             0                      0
        Allowable Developer/Consultant Fees for New Construction Units:                                    0
        Allowable Developer/Consultant Fees Acquisition/Rehabilitation Units:                                                     0
        Budgeted Developer/Consultant Fees:                                                                0                      0
        Amount of Eligible Basis Reduction                                                                 0                      0


                      Total Amount of Eligible Basis Reduction                                             0                      0




    a327bd5f-ddaa-4d8c-bc50-09ea1807da9f.xls                                                                    Page 12
Builder, Developer Fee and Other Limits - continued                                                    SECTION 14

14.03 Unit Cost Cap

      The cost per unit shall be no greater than $237,000. The calculation is as follows:


            # of Units     Project Costs         Fed Hist Credit(Res Portion)               Calculated Cost Per Unit
                  0               0                             0                                                 -


                                                                        The Unit Cost Cap Requirement has been met.



      Does one or more of the following apply? (check all that apply)
         Project has received a commitment of State historic rehabilitation tax credits.
         Project is eligible for Federal Historic rehabilitation tax credit.
         All project sites are located in a Qualified Census Tract.
         All project sites are located in an Individual Assistance Disaster or Individual and Public Assistance
         Disaster county.


      If one of the above is checked, then is the Applicant requesting that the
      reservation amount may be calculated based on the Eligible Basis and the
      Equity Gap methods?                                                                      Yes           No




   a327bd5f-ddaa-4d8c-bc50-09ea1807da9f.xls                                                                   Page 13
Builder, Developer Fee and Other Limits - continued                                     SECTION 14

14.04 Cost Cap Method of Tax Credit Determination




 4% Basis:        #VALUE! x % of Low Income Units   0.00%   x Applicable%   3.45%   =       #VALUE!

 9% Basis:        #VALUE! x % of Low Income Units   0.00%   x Applicable%   9.00%   =       #VALUE!

Tax Credits Allowed Using Cost Cap method                                                   #VALUE!




   a327bd5f-ddaa-4d8c-bc50-09ea1807da9f.xls                                               Page 14
SOURCES OF FUNDS (CONSTRUCTION AND PERMANENT FINANCING)                                                                             SECTION 15

15.01   CONSTRUCTION FINANCING
        List individually sources of construction financing.
                                                                                                               Term of Interest Rate of     Commitment
                Source of Funds/Name of Lender                 Amount of Funds          Type of Loan            Loan         Loan              Date

                                                                                 <Select One>

                                                                                 <Select One>

                                                                                 <Select One>

                                                                                 <Select One>

                                                                                 <Select One>

                                                                                 <Select One>


        Total Amount of Funds for Construction
        Describe any loan types where Other was selected:




15.02   PERMANENT FINANCING
        List individually source(s) of permanent financing (not including Equity Funds).
                                                                                                  Type and     Annual Debt       Interest       Amort.
        Source of Funds/Name of Lender                                       Amount of Funds    Term of Loan   Service Pmt         Rate         Period

        1st Mortgage (or Rural Development 515 or Tax Exempt Financing)


        HOME Loan(s)
        IDED
        CITY
        Subordinate Debt (or CDBG Financing)




        Deferred Developer Fees




        Total Amount of Funds from Permanent Financing



        A.   Total Sources of Permanent Financing (not including Equity Funds)                   $              0 32

        B.   Proceeds from State Historic Tax Credits ( must have firm commitment)

        C.   Proceeds from Federal Historic Tax Credits
        D.   Total Sources (Except LIHTC Equity Funds)                                                          0

        E.   Proceeds from Low Income Housing Tax Credits (Equity Funds)                                        0

        F.   Proceeds from Section 15.03                                                                        0
        G.   TOTAL - ALL SOURCES                                                                 $              0



    a327bd5f-ddaa-4d8c-bc50-09ea1807da9f.xls                                                                                              Page 15
SOURCES OF FUNDS (CONSTRUCTION AND PERMANENT FINANCING - cont.)                                                         SECTION 15

15.03
          Sources of Funds not included in 15.01 and 15.02
          (LIST ONLY FUNDS THAT REDUCE TOTAL PROJECT COST - INCLUDING OTHER                             Amount of
          FUNDS MAY RESULT IN A FINANCING GAP.)                                                          Funds
          CDBG Grant
          HOME Grant
          Federal Home Loan Bank Grant
          State Grant (Specify and List below)




          Local Grant (Specify and List below)


          Developer/General Partner Contribution (from Section 10.01)                                               -
          Other Grants or Equity
           Enterprise Zone Tax Credit Proceeds


                                                                            Total to Section 15.02F                 0    48

15.04 Sources of Funds not included in 15.01, 15.02 and 15.03.                  (Examples: Tax          Amount of
      Abatement, Donated Land, EZ Tax Rebate)                                                            Funds
          Enterprise Zone Sales Tax Rebate
          Operating Reserves Line of Credit Limit




15.05 Is any portion of the Source of Funds for the Project financed directly or indirectly with Federal,
      State or Local Government Funds?                                                                                  Yes             No
             If yes, what is the total amount?

15.06 Will Developer elect to exclude any below market federal loan from eligible basis?                                Yes             No

              If Yes, what amount is excluded?

15.07 Is tax-exempt financing being used?                                                                               Yes             No

             If Yes, what is the percentage of tax-exempt financing to the total cost of the Project?




        a327bd5f-ddaa-4d8c-bc50-09ea1807da9f.xls                                                                              Page 16
DETERMINATION OF RESERVATION AMOUNT NEEDED                                                                                                         SECTION 17

The following calculation of the amount of Tax Credits needed is substantially the same as the calculation which will be made by IFA to determine, as required by
the Code, the maximum amount of Tax Credits which may be reserved/allocated/placed in service for the Project. IFA, however, at all times retains the right to
substitute such information and assumptions as are determined by IFA to be reasonable for the information and assumptions provided herein as to costs
(including Developer fees, profits, etc.), sources of funding, expected equity, etc. Accordingly, if the Project is selected by IFA for a reservation of Tax Credits and
allocation/8609, the amount of such reservation/allocation/8609 may differ significantly from the amount you compute below:


   A.    Total Project Costs (Item 13.12, 1st & 4th columns)              48                                                                               0
   B.    Less Total Sources of Funds (except LIHTC equity Funds, from Item 15.02(D) and (F))                                                               0
   C.    Equity Gap (A-B)                                                                                                                                  0
   D.    Equity Percentage (% investor expected to pay for each dollar of LIHTC)
   E.    Ten-Year Credit Amount Needed to Fund Gap (C÷D)                                                                                           #DIV/0!
   F.    Annual Tax Credit Required to Fund the Equity Gap (E÷10)                                                                                  #DIV/0!
   G.    The Maximum Allowable Tax Credit Amount (from Item 13.29)                                                                                       0
   H.    The Maximum Allowable Tax Credit Amount (from Cost Cap method - Item 14.04)                                                              #VALUE!
   I.    Reservation Amount (Lesser of F, G or H)                                                                                                  #DIV/0!
                                                                            Escalating Factors:                                              Vacancy:                       Vacancy:
15-YEAR CASH FLOW PROFORMA                                                        Income:                      Expenses:                    (9% Credits)                   (4% Credits)
0
                                                                                Year              Year           Year          Year          Year            Year           Year          Year         Year         Year         Year         Year         Year         Year         Year
Income:                                           (Explain, if necessary)        1                 2              3             4             5               6              7             8            9            10           11           12           13           14           15
Gross Rental Income                                                                     0                 0                0           0              0               0              0            0            0            0            0            0            0            0            0
Laundry Income                                                                                            0                0           0              0               0              0            0            0            0            0            0            0            0            0
Other Income (Specify)                                                                                    0                0           0              0               0              0            0            0            0            0            0            0            0            0
Other Income (Specify)                                                                                    0                0           0              0               0              0            0            0            0            0            0            0            0            0
Less Vacancy                                                                            0                 0                0           0              0               0              0            0            0            0            0            0            0            0            0
Net Rental Income                                                                       0                 0                0           0              0               0              0            0            0            0            0            0            0            0            0

Operating Expenses:                               (Explain, if necessary)
Accounting and Auditing                                                                                   0                0           0              0               0              0            0            0            0            0            0            0            0            0
Investor Service Fees                                                                                     0                0           0              0               0              0            0            0            0            0            0            0            0            0
Advertising                                                                                               0                0           0              0               0              0            0            0            0            0            0            0            0            0
Office Expenses/On-site Mgr Salaries                                                                      0                0           0              0               0              0            0            0            0            0            0            0            0            0
Property Mgmt fee (Using Income Escalator)                                                                0                0           0              0               0              0            0            0            0            0            0            0            0            0
Electric and Gas                                                                                          0                0           0              0               0              0            0            0            0            0            0            0            0            0
Water and Sewer                                                                                           0                0           0              0               0              0            0            0            0            0            0            0            0            0
Waste Removal                                                                                             0                0           0              0               0              0            0            0            0            0            0            0            0            0
Maintenance payroll                                                                                       0                0           0              0               0              0            0            0            0            0            0            0            0            0
Repairs and Maintenance                                                                                   0                0           0              0               0              0            0            0            0            0            0            0            0            0
Decorating                                                                                                0                0           0              0               0              0            0            0            0            0            0            0            0            0
Elevator Maintenance                                                                                      0                0           0              0               0              0            0            0            0            0            0            0            0            0
Grounds Maintenance                                                                                       0                0           0              0               0              0            0            0            0            0            0            0            0            0
Snow Removal                                                                                              0                0           0              0               0              0            0            0            0            0            0            0            0            0
Insurance                                                                                                 0                0           0              0               0              0            0            0            0            0            0            0            0            0
Other (Specify)                                                                                           0                0           0              0               0              0            0            0            0            0            0            0            0            0
Other (Specify)                                                                                           0                0           0              0               0              0            0            0            0            0            0            0            0            0
    Sub-Total Operating Expenses                                                        0                 0                0           0              0               0              0            0            0            0            0            0            0            0            0

Real Estate Taxes                                                                       0                 0                0           0              0               0              0            0            0            0            0            0            0            0            0
Projected Adjustments (i.e. tax abatement)                                                                0                0           0              0               0              0            0            0            0            0            0            0            0            0
Supportive Services ($150/low-income unit min.)                                                           0                0           0              0               0              0            0            0            0            0            0            0            0            0
Total Operating Expenses                                                                0                 0                0           0              0               0              0            0            0            0            0            0            0            0            0
Net Operating Income                                                                    0                 0                0           0              0               0              0            0            0            0            0            0            0            0            0
Operating Expense Ratio                                                                 0%                0%             0%            0%            0%               0%            0%            0%           0%           0%           0%           0%           0%           0%           0%

Reserve replacement funds                                                                                 0                0           0              0               0              0            0            0            0            0            0            0            0            0
Mortgage Ins. Prem. (MIP)                                                                                 0                0           0              0               0              0            0            0            0            0            0            0            0            0
Adjusted N.O.I.                                                                         0                 0                0           0              0               0              0            0            0            0            0            0            0            0            0

Annual Debt Service Payment                       Mortgagor
1st Mortgage
HOME                                              IDED
HOME                                              CITY
Other Subordinate Loans
Other Subordinate Loans
Other Subordinate Loans
Other Subordinate Loans
Total Debt Service Payments                                                             0                 0                0           0              0               0              0            0            0            0            0            0            0            0            0
Net cash flow                                                                           0                 0                0           0              0               0              0            0            0            0            0            0            0            0            0
Debt Service Ratio: 1st Mortgage                                                       N/A               N/A            N/A           N/A           N/A              N/A           N/A           N/A          N/A          N/A          N/A          N/A          N/A          N/A          N/A
 Debt Service Ratio: All Debt                                                          N/A               N/A            N/A           N/A           N/A              N/A           N/A           N/A          N/A          N/A          N/A          N/A          N/A          N/A          N/A

Other Considerations
Deferred Developer Fee                                                                  0                 0                0           0              0               0              0            0            0            0            0            0            0            0            0
Net Cash Flow After Other Considerations                                                0                 0                0           0              0               0              0            0            0            0            0            0            0            0            0




        2009 Round-Proforma                                                                                                                          Page 12 of 23
                                                                Escalating Factors:                                 Vacancy:                   Vacancy:
15-YEAR CASH FLOW PROFORMA                                            Income:                Expenses:             (9% Credits)               (4% Credits)
0



UNDERWRITING STANDARDS: AUTOMATED CHECKS AGAINST QAP REQUIREMENTS


Income Escalator (QAP Section 4.1.1)
Expense Escalator (QAP Section 4.1.1)
Minimum Spread (QAP Section 4.1.1)
Vacancy Rate -9% credits (QAP Section 4.1.2)
Vacancy Rate -4% credits (QAP Section 10.1.2)


                                                                     Year             Year     Year       Year      Year             Year      Year           Year      Year      Year      Year      Year      Year      Year      Year
                                                                      1                2        3          4         5                6         7              8         9         10        11        12        13        14        15



Underwriting Standards:
Debt Service Ratio Error Explanation (QAP Section 4.1.3)



Underwriting Standards:
Net Cash Flow Error Explanation (QAP Section 4.1.4)



Operating Expenses
Housing for Older Persons (QAP Section 4.2.1)                       #DIV/0!       #DIV/0!     #DIV/0!    #DIV/0!   #DIV/0!          #DIV/0!   #DIV/0!        #DIV/0!   #DIV/0!   #DIV/0!   #DIV/0!   #DIV/0!   #DIV/0!   #DIV/0!   #DIV/0!



Operating Expenses:
Housing for Families (QAP Section 4.2.2)                             N/A              N/A       N/A       N/A        N/A             N/A        N/A           N/A       N/A       N/A       N/A       N/A       N/A       N/A       N/A




       2009 Round-Proforma                                                                                                   Page 13 of 23
                                                IFA PROFORMA
                                15-YEAR CASH FLOW PROFORMA - LOAN SCHEDULE


                                                      First Mortgage



             Loan Amount

             Interest Rate

             Amortization Period
                  Beginning            Annual Debt           Interest      Principal   Ending
      Year         Balance             Service Pymt          Payment       Payment     Balance

        1

        2

        3

        4

        5

        6

        7

        8

        9

       10

       11

       12

       13

       14

       15




a327bd5f-ddaa-4d8c-bc50-09ea1807da9f.xls        Proforma -Loan Schedules                     14 of 23
                                                IFA PROFORMA
                                15-YEAR CASH FLOW PROFORMA - LOAN SCHEDULE


                                                      HOME Loan

                                                          IDED

             Loan Amount

             Interest Rate

             Amortization Period
                  Beginning            Annual Debt                                              Ending
      Year         Balance             Service Pymt      Interest Payment   Principal Payment   Balance

        1

        2

        3

        4

        5

        6

        7

        8

        9

       10

       11

       12

       13

       14

       15




a327bd5f-ddaa-4d8c-bc50-09ea1807da9f.xls        Proforma -Loan Schedules                              15 of 23
                                                IFA PROFORMA
                                15-YEAR CASH FLOW PROFORMA - LOAN SCHEDULE


                                                      HOME Loan

                                                           CITY

             Loan Amount

             Interest Rate

             Amortization Period
                  Beginning            Annual Debt                                              Ending
      Year         Balance             Service Pymt      Interest Payment   Principal Payment   Balance

        1

        2

        3

        4

        5

        6

        7

        8

        9

       10

       11

       12

       13

       14

       15




a327bd5f-ddaa-4d8c-bc50-09ea1807da9f.xls        Proforma -Loan Schedules                              16 of 23
                                                IFA PROFORMA
                                15-YEAR CASH FLOW PROFORMA - LOAN SCHEDULE


                                               Subordinate Financing



             Loan Amount

             Interest Rate

             Amortization Period
                  Beginning            Annual Debt                                              Ending
      Year         Balance             Service Pymt      Interest Payment   Principal Payment   Balance

        1

        2

        3

        4

        5

        6

        7

        8

        9

       10

       11

       12

       13

       14

 #     15




a327bd5f-ddaa-4d8c-bc50-09ea1807da9f.xls        Proforma -Loan Schedules                              17 of 23
                                                IFA PROFORMA
                                15-YEAR CASH FLOW PROFORMA - LOAN SCHEDULE


                                               Subordinate Financing



             Loan Amount

             Interest Rate                                    0.00%

             Amortization Period
                  Beginning            Annual Debt                                              Ending
      Year         Balance             Service Pymt      Interest Payment   Principal Payment   Balance

        1

        2

        3

        4

        5

        6

        7

        8

        9

       10

       11

       12

       13

       14

 #     15




a327bd5f-ddaa-4d8c-bc50-09ea1807da9f.xls        Proforma -Loan Schedules                              18 of 23
                                                IFA PROFORMA
                                15-YEAR CASH FLOW PROFORMA - LOAN SCHEDULE


                                               Subordinate Financing



             Loan Amount

             Interest Rate

             Amortization Period
                  Beginning            Annual Debt                                              Ending
      Year         Balance             Service Pymt      Interest Payment   Principal Payment   Balance

        1

        2

        3

        4

        5

        6

        7

        8

        9

       10

       11

       12

       13

       14

 #     15




a327bd5f-ddaa-4d8c-bc50-09ea1807da9f.xls        Proforma -Loan Schedules                              19 of 23
                                                IFA PROFORMA
                                15-YEAR CASH FLOW PROFORMA - LOAN SCHEDULE


                                               Subordinate Financing



             Loan Amount

             Interest Rate

             Amortization Period
                  Beginning            Annual Debt                                              Ending
      Year         Balance             Service Pymt      Interest Payment   Principal Payment   Balance

        1

        2

        3

        4

        5

        6

        7

        8

        9

       10

       11

       12

       13

       14

 #     15




a327bd5f-ddaa-4d8c-bc50-09ea1807da9f.xls        Proforma -Loan Schedules                              20 of 23
                                                            IFA PROFORMA


                                        15-Year Projected Property Tax Payment Schedule



Enter the PROJECTED amount of the real estate tax payment you anticipate will be assessed against the property.


                            Amount of        Escalating                                                Amount of      Escalating
Year     Tax Amount          Change            Factor                     Year            Tax Amount    Change          Factor

  1
  2                                                                         9
  3                                                                        10
  4                                                                        11
  5                                                                        12
  6                                                                        13
  7                                                                        14
  8                                                                        15


 Property taxes can not decline over the 15-year period. Please provide an explanation for any unusual or significant change in
the calculated escalating factor. Include any discussion you have had with your assessor regarding your calculation method.

Explanation:




  a327bd5f-ddaa-4d8c-bc50-09ea1807da9f.xls                Proforma -RE Tax & Adjust Sch                                    21 of 23
                                                            IFA PROFORMA


                                                  15-Year Projected Adjustments



     Enter an amount for each year, if applicable, if not, enter zero, or leave blank.


              Amount of          Amount of          % of                              Amount of    Amount of     % of
     Year     Adjustment          Change           Change                 Year        Adjustment    Change      Change

      1
      2                                                                    9
      3                                                                    10
      4                                                                    11
      5                                                                    12
      6                                                                    13
      7                                                                    14
      8                                                                    15


    Please provide an explanation as the nature (i.e. property tax abatement) of the adjustments being made for each year
    and the rationale used determine each year's amount.

     Explanation:




a327bd5f-ddaa-4d8c-bc50-09ea1807da9f.xls              Proforma -RE Tax & Adjust Sch                                   22 of 23
                                                                IFA PROFORMA


                                                          Deferred Developer Fees



                Enter an amount for each year, if applicable, if not, enter zero, or leave blank.


                         Amount of                             Amount of                            Amount of
                Year     Adjustment                Year        Adjustment                Year       Adjustment

                 1                                  6                                    11
                 2                                  7                                    12
                 3                                  8                                    13
                 4                                  9                                    14
                 5                                  10                                   15




                                                  Total Deferred Developer Fees




                                                        Investor Services Fees
                                                                   #REF!
                Enter an amount for each year, if applicable, if not, enter zero, or leave blank.


                         Amount of                             Amount of                            Amount of
                Year     Adjustment                Year        Adjustment                Year       Adjustment

                 1                                  6                                    11
                 2                                  7                                    12
                 3                                  8                                    13
                 4                                  9                                    14
                 5                                  10                                   15




a327bd5f-ddaa-4d8c-bc50-09ea1807da9f.xls                 Proforma -RE Tax & Adjust Sch                           23 of 23

				
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