Alternative A is: (a) A $36 million loan (b) For 15 years (c) With amortization predicated on a 30 year schedule (d) At a fixed rate of interest equal to the yield on a 10 year Treasury Bond plus 235 basis points with payments calculated on a monthly basis (e) With a three point fee to Mutual Life Insurance Company

Alternative B is: (a) A $38.5 million loan (b) For 15 years (c) With amortization predicated on a 30 year schedule (d) At a fixed rate of interest equal to the yield on a 10-year Treasury Bond plus 275 basis points with payments calculated on a monthly basis (e) With a three point fee to Mutual Life Insurance Company

- - - - - - - If the NOI for 2022 is projected to be $3,600,000 and is projected to increase 5% a year for the foreseeable future, and, the yield on a 10-year Treasury Bond at Closing is 2.5%:

Calculate The Projected Debt Service Coverage Ratio for Calendar Years 2022 and 2023, for Alternatives A and B.

2022 2023

DSCR Alternative A = DSCR Alternative B =