91128-ORCF Initial Operating Deficit Escrow Calculation

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Overview

Inputs
Details & Draw Requests
Output - Summary Exhibit

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Sheet 1: Inputs

Initial Operating Deficit / Lease-up Tracking Worksheet Section 232			U.S. Department of Housing and Urban Development Office of Residential Care Facilities						OMB Approval No. 2502-0605 (exp. 11/30/2022)
Public reporting burden for this collection of information is estimated to average 0.5 hours per response, including the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. The information is being collected to obtain the supportive documentation that must be submitted to HUD for approval, and is necessary to ensure that viable projects are developed and maintained. The Department will use this information to determine if properties meet HUD requirements with respect to development, operation and/or asset management, as well as ensuring the continued marketability of the properties. Response to this request for information is required in order to receive the benefits to be derived from the National Housing Act Section 232 Healthcare Facility Insurance Program. This agency may not collect this information, and you are not required to complete this form unless it displays a currently valid OMB control number. While no assurance of confidentiality is pledged to respondents, HUD generally discloses this data only in response to a Freedom of Information Act request. Warning: Anyone who knowingly submits a false claim or makes a false statement is subject to criminal and/or civil penalties, including confinement for up to 5 years, fines, and civil and administrative penalties. (18 U.S.C. §§ 287, 1001, 1010, 1012; 31 U.S.C. §3729, 3802).
Project Name:					Date Prepared:		Lender Name:
Income & Occupancy Assumptions
Unit Type	UW Eff. Gross Inc. per year	For Assisted Living, you will typically enter the number of units here, instead of beds. Total # Beds	You are asked to enter the underwritten occupancy bedcause it is needed for the computation of the Effective Gross Income per Occupied Unit. The percentage will not be applied to the incomes, as vacacy is already implicit in Effective Gross Income UW Occupancy	# Occupied Units	EGI per Occp'd Unit	Number of Preleases	The absorption numbers must be estimated in a way that accounts for move-outs in the net gain per month. Net Monthly Absorption
Assisted Living				0.00	$0.00
Memory Care				0.00	$0.00
Skilled Nursing or Sub-Acute				0.00	$0.00
Independent Living				0.00	$0.00
Other Income					$0.00
Totals	This total should exactly equal the Effective Gross Income concluded in the lender's underwriting. Do not enter potential gross income. (Potential Gross Income minus Vacancy = EGI) $0	0	0.00%	0.00	$0.00	0.00	0.00
Expense Assumptions
	Total UW	Total UW	Per Res	POU	% of EGI		Enter the base amount that an expense cannot fall below as a percentage of the total expense. If there is no floor, enter 0%. If the expense amount is constant regardless of occupancy (as with taxes), enter 100%. The percentages shown in this template represent the Lean expectations for the example expense categories entered. Giving justification when departing from these expectations may serve to expitite the review processs. Expense Floor
The categories below in blue are examples. The names should be changed to correspond to the categories presented in the Lender Narrative. Categories in black are either always present or have special rules about how and when they are applied. These should not be changed. Category	Exp. per year	Exp. per Month	Day	per year	UW		Percentage	Yearly Floor	Monthly Floor
e.g. General & Administrative		$0	$0.00	$0	0.00%		100.00%	$0	$0
e.g. Payroll Taxes and Benefits		$0	$0.00	$0	0.00%		80.00%	$0	$0
e.g. Resident Care		$0	$0.00	$0	0.00%		30.00%	$0	$0
e.g. Food Services		$0	$0.00	$0	0.00%		30.00%	$0	$0
e.g. Activities		$0	$0.00	$0	0.00%		30.00%	$0	$0
e.g. Housekeeping & Laundry		$0	$0.00	$0	0.00%		10.00%	$0	$0
e.g. Maintenance		$0	$0.00	$0	0.00%		30.00%	$0	$0
e.g. Utilities		$0	$0.00	$0	0.00%		50.00%	$0	$0
e.g. Bad Debt		$0	$0.00	$0	0.00%		0.00%	$0	$0
If you have an expense that is charged only on occupied units, such as a provider tax, the lender may correct the formulas that calcuate the monthly charges in the tab called "Details & Draw Requests" to give the correct answer.		$0	$0.00	$0	0.00%		0.00%	$0	$0
This expense will not be charged in Interval 1. The expense for this period is covered in the mortgage. Ground Rent		$0	$0.00	$0	0.00%		100.00%	$0	$0
This expense will automatically be applied at 200% of normal until break even occupancy is reached. Marketing and Promotion		$0	$0.00	$0	0.00%		100.00%	$0	$0
This expense will automatically be distributed as a lump sum payment in month 3, then be impounded at the normal monthly rate. Insurance (property & liability)		$0	$0.00	$0	0.00%		100.00%	$0	$0
Real Estate (Property) Taxes		$0	$0.00	$0	0.00%		100.00%	$0	$0
Management Fees		$0	$0.00	$0	0.00%		Enter the expense floor during the lease-up period. The amount will be spelled out in the management agreement. During the lease-up period, this expense is not likely to be calculated as a percentage of EGI, as it will be later. Management will need compensation during the lease-up period, eventhough the project is still minimally occupied. 80.00%	$0	$0
Enter the amount determined by the lender that will actually be charged, not the "market" amount estimated by the appraiser. Replacement Reserves		$0	$0.00	$0	0.00%		100.00%	$0	$0
TOTAL	This total should exactly match the expense total concluded by the lender. This means using HUD reserve amounts instead of market amounts, when different. $0	$0	$0.00	$0	0.00%
Debt Service Assumptions
Interest Only	$-	per month		Debt Service Calculator
Principal Plus Interest	$-	per month		Mortgage Amount
MIP	An annual MIP payment is made at start of amortization. $-	per month		Term in Months
				Annual Interest Rate
				MIP Percentage		NC/SR Healthcare Facilities without LIHTC = 0.77% NC/SR Assisted Living Facilities with LIHTC = 0.45% 232/223f Healthcare Facilities without LIHTC = 0.65% 232/223f Healthcare Facilities with LIHTC = 0.45% 0.77%

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Sheet 2: Details & Draw Requests

0	Period One			Interval 1 spans the period of time between certificate of occupancy and the end of the construction period/cost certification period. (Note that the construction period is defined as construction time plus two months for cost certification purposes). When calculating expenses for this Interval, there should be no debt service included as an expense. The mortgage interest for this interval is included in the mortgage in Section G Line 53 "Construction Interest". Ground rent is also not to be included in Interval 1. Replacement reserves are also not included in Interval 1 .	Period Two			Interval 2 begins at the end of the construction period/cost certification process (construction time plus two months) and ends at the beginning of amortization. Debt service should include payment for interest and MIP, but not amortization, as the beginning of amortization signals the beginning of Interval 3. Ground rent must be included if the property is a leasehold. Replacement reserves are not included in Interval 2.	Period Three	Interval 3 begins at the beginning of amortization. Amortized debt service is mandatory in this Interval, and should include payment to principle and interest and MIP. Ground rent, if applicable, is also mandatory in interval 3. Replacement reserves also are mandatory in Interval 3.																																																															For Tracking Only -- For Tracking Only -- For Tracking Only -- For Tracking Only -- For Tracking Only -- For Tracking Only -- For Tracking Only -- For Tracking Only -- For Tracking Only -- For Tracking Only -- For Tracking Only -- For Tracking Only -- For Tracking Only -- For Tracking Only
Instructions: Use this tab to make draw request from IOD escrow. Only modify shaded blue cells. This worksheet is required to be updated on a cash basis only.	Month 1 Forecast	Month 1 Actual	Month 2 Forecast	Month 2 Actual	Month 3 Forecast	Month 3 Actual	Month 4 Forecast	Month 4 Actual	Month 5 Forecast	Month 5 Actual	Month 6 Forecasted	Month 6 Actual	Month 7 Forecasted	Month 7 Actual	Month 8 Forecast	Month 8 Actual	Month 9 Forecast	Month 9 Actual	Month 10 Forecast	Month 10 Actual	Month 11 Forecast	Month 11 Actual	Month 12 Forecast	Month 12 Actual	Month 13 Forecast	Month 13 Actual	Month 14 Forecast	Month 14 Actual	Month 15 Forecast	Month 15 Actual	Month 16 Forecast	Month 16 Actual	Month 17 Forecast	Month 17 Actual	Month 18 Forecast	Month 18 Actual	Month 19 Forecast	Month 19 Actual	Month 20 Forecast	Month 20 Actual	Month 21 Forecast	Month 21 Actual	Month 22 Forecast	Month 22 Actual	Month 23 Forecast	Month 23 Actual	Month 24 Forecast	Month 24 Actual	Month 25 Forecast	Month 25 Actual	Month 26 Forecast	Month 26 Actual	Month 27 Forecast	Month 27 Actual	Month 28 Forecast	Month 28 Actual	Month 29 Forecast	Month 29 Actual	Month 30 Forecast	Month 30 Actual	Month 31 Forecast	Month 31 Actual	Month 32 Forecast	Month 32 Actual	Month 33 Forecast	Month 33 Actual	Month 34 Forecast	Month 34 Actual	Month 35 Forecast	Month 35 Actual	Month 36 Forecast	Month 36 Actual	Month 37 Actual	Month 38 Actual	Month 39 Actual	Month 40 Actual	Month 41 Actual	Month 42 Actual	Month 43 Actual	Month 44 Actual	Month 45 Actual	Month 46 Actual	Month 47 Actual	Month 48 Actual	Month 49 Actual	Month 50 Actual	Month 51 Actual	Month 52 Actual	Month 53 Actual	Month 54 Actual	Month 55 Actual	Month 56 Actual	Month 57 Actual	Month 58 Actual	Month 59 Actual	Month 60 Actual
Assisted Living	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Memory Care	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Skilled Nursing or Sub-Acute	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Independent Living	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00
Total Occupied Units	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Resident Days	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	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	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	0	0	0	0	0	0	0	0	0	0	0	0
EGI	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		0		0		0		0		0		0		0		0
e.g. General & Administrative	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		0		0		0		0		0		0		0		0
e.g. Payroll Taxes and Benefits	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		0		0		0		0		0		0		0		0
e.g. Resident Care	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		0		0		0		0		0		0		0		0
e.g. Food Services	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		0		0		0		0		0		0		0		0
e.g. Activities	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		0		0		0		0		0		0		0		0
e.g. Housekeeping & Laundry	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		0		0		0		0		0		0		0		0
e.g. Maintenance	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		0		0		0		0		0		0		0		0
e.g. Utilities	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		0		0		0		0		0		0		0		0
e.g. Bad Debt	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		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		0		0		0		0		0		0		0		0		0		0		0		0		0		0		0		0
Ground Rent	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		0		0		0		0		0		0		0		0		0		0
This expense will automatically be applied at 200% of normal until break even occupancy is reached. Marketing and Promotion	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		0		0		0		0		0		0		0		0
This expense will automatically be distributed as a lump sum payment in month 3, then be impounded at the normal monthly rate. Insurance (property & liability)	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		0		0		0		0		0		0		0		0
Real Estate (Property) Taxes	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		0		0		0		0		0		0		0		0
Management Fees	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		0		0		0		0		0		0		0		0
Replacement Reserves	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		0		0		0		0		0		0		0		0
Total Expenses	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	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	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	0	0	0	0	0	0	0	0	0	0	0	0
NOI	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	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	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	0	0	0	0	0	0	0	0	0	0	0	0
P+I	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		0		0		0		0		0		0		0		0
MIP	0		0		0		Includes a full first year's payment of MIP upon closing. 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		0		0		0		0		0
Income/Loss per Period	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	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	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	0	0	0	0	0	0	0	0	0	0	0	0
Cumulative Loss (actual is blue)	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	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	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	0	0	0	0	0	0	0	0	0	0	0	0
Expense Ratio	NA	NA	NA	NA	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%	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%	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%	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%	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%	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%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
% of UW Expense	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%	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%	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%	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%	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%	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%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Occupancy	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%	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%	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%	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%	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%	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%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Debt Service Coverage Ratio									#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!	#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!	#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!	#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!	#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!	#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!
Draw Amount Requested
Dollar Difference from Scheduled Draws		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		0		0		0		0		0		0		0		0	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA	NA
Amount Approved (entered by HUD)
Escrow Balance		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		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	0	0	0	0
IOD Base Requirement
$0
Actual Escrow IOD Amount
$0
Actual Debt Service Reserve
$0
DSR Draw Amount Requested
Amount Approved (entered by HUD)
Debt Service Escrow Balance		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		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	0	0	0	0

---

Sheet 3: Output - Summary Exhibit

0				Prepared:	12/30/1899
Occupancy Assumptions
Unit Type		Total # Beds	UW Occupancy	Number of Preleases	Avg. Monthly Absorption
Assisted Living		0	0.00%	0.00	0.00
Memory Care		0	0.00%	0.00	0.00
Skilled Nursing or Sub-Acute		0	0.00%	0.00	0.00
Independent Living		0	0.00%	0.00	0.00
Totals		0	0.00%	0.00	0.00
				Rounded Operating Deficit Total:	$0
	Occupied	Occupied	Income	Exp. & Mort.	Income/Loss
Period	Units	Percent	per Period	per Period	per Period
Month 1	0.00	#DIV/0!	$0	$0	$0
Month 2	0.00	#DIV/0!	$0	$0	$0
Month 3	0.00	#DIV/0!	$0	$0	$0
Month 4	0.00	#DIV/0!	$0	$0	$0
Month 5	0.00	#DIV/0!	$0	$0	$0
Month 6	0.00	#DIV/0!	$0	$0	$0
Month 7	0.00	#DIV/0!	$0	$0	$0
Month 8	0.00	#DIV/0!	$0	$0	$0
Month 9	0.00	#DIV/0!	$0	$0	$0
Month 10	0.00	#DIV/0!	$0	$0	$0
Month 11	0.00	#DIV/0!	$0	$0	$0
Month 12	0.00	#DIV/0!	$0	$0	$0
Month 13	0.00	#DIV/0!	$0	$0	$0
Month 14	0.00	#DIV/0!	$0	$0	$0
Month 15	0.00	#DIV/0!	$0	$0	$0
Month 16	0.00	#DIV/0!	$0	$0	$0
Month 17	0.00	#DIV/0!	$0	$0	$0
Month 18	0.00	#DIV/0!	$0	$0	$0
Month 19	0.00	#DIV/0!	$0	$0	$0
Month 20	0.00	#DIV/0!	$0	$0	$0
Month 21	0.00	#DIV/0!	$0	$0	$0
Month 22	0.00	#DIV/0!	$0	$0	$0
Month 23	0.00	#DIV/0!	$0	$0	$0
Month 24	0.00	#DIV/0!	$0	$0	$0
Month 25	0.00	#DIV/0!	$0	$0	$0
Month 26	0.00	#DIV/0!	$0	$0	$0
Month 27	0.00	#DIV/0!	$0	$0	$0
Month 28	0.00	#DIV/0!	$0	$0	$0
Month 29	0.00	#DIV/0!	$0	$0	$0
Month 30	0.00	#DIV/0!	$0	$0	$0
Month 31	0.00	#DIV/0!	$0	$0	$0
Month 32	0.00	#DIV/0!	$0	$0	$0
Month 33	0.00	#DIV/0!	$0	$0	$0
Month 34	0.00	#DIV/0!	$0	$0	$0
Month 35	0.00	#DIV/0!	$0	$0	$0
Month 36	0.00	#DIV/0!	$0	$0	$0