INVESTMENT NAME

Inputs & Assumptions

INVESTMENT DETAILS LEASE ASSUM
Purchase Price $7,900,000 CAM Charges
Building (70%) $5,530,000 CAM Charges
Land (30%) $2,370,000 Property Taxes
Equity $3,160,000 Property Tax
Debt (mortgage) $4,740,000 Structural Repairs
CCA Rate (Building) 4.00% Free net rent - new tenants
Income Tax Rate 48.00% Free net rent - renewals
Taxable Gain portion 50.00% Leasing Commission (first year)
Holding Period (yrs) 5 years Leasing Commission (remaining yrs)
Market Cap Rate 7 Market Rent (end cap/corner)
Risk Premium 0.50% Market Rent (inside unit)
Inflation 2.50% Rental Increase
Required Rate of Return 9.50% Vacancy Allowance
Closing Costs 4.00% Legend
Original Inputs
Cells containing formulas
Outputs
Outputs
NPV @ Required Rate of Return $7,230,346 Year 1 cap rate 6.4
IRR 22.01%% Year 2 cap rate 7.1

Year 1 Year 2

Base Rental Income $ 594,850 $ 688,347

Potential Gross Income $ 594,850 $ 688,347

Vacancy & Collection Loss $ 22,010 $ 25,469
Effective Gross Income $ 572,840 $ 662,878
Property Tax $ 115,000 $ 115,000
CAM $ 125,000 $ 125,000
Net Operating Income $ 332,840 $ 422,878
Leasing Commissions
Structural Repairs $ 11,456.80 $ 13,257.56
Mortgage Interest $16,145 $15,582
Mortgage Principal $13,113 $13,676
Before-Tax Cash Flow (BTCF) $ 292,125 $ 380,362
$ 140,220 $ 182,574
After-Tax Cash Flow (ATCF) $ 151,905 $ 197,788
Income Tax Calculations
Year 1 Year 2

Net Operating Income

CCA
Interest
Commissions & TIs
Taxable Income

Income Tax Payable

Beginning UCC
CCA Rate
Max CCA claimable
Actual CCA
Ending UCC

Outstanding Balance

Equity Flows
Year 0 Year 1 Year 2
Total Equity ATCFs
After Tax Equity Reversion
Total Equity Flows

Results of Analysis
NPV @ Required Rate of Return $7,265,198
IRR 22.01%
Year 1 Year 2
DCR 1.1 1.3
Capitalization Rate 6.60% 7.10%

Reversion Calculations
 Analyst's name: JT Gill
NAME Effective date of analysis:
Date of analysis:

LEASE ASSUMPTIONS FINANCING DETAILS AND AS

es $ 125,000 Loan Amount
es $ 5.760 per sq ft Term (yrs.)
xes $ 115,000 Rate Comp
x $ 5.300 per sq ft Bank of Canada Bond Rate
2.00% of effective gross income Bond Rate + Basis Points
t - new tenants 5 months starting month 1 Nominal Rate
t - renewals 2 months starting month 1 PMTS/ Yr.
mmission (first year) 5.00% of rental rate Amort. Period
mmission (remaining yrs) 3.00% of rental rate Amort. Period
(end cap/corner) $32.00 per sq ft Effective Interest Rate
(inside unit) $28.00 per sq ft Periodic PMT Rounded
Required Minimum Debt Coverage
ase 2.00% annually
Ratio
owance 3.70%

Color Coded
ning formulas Color Coded
Color Coded

DCR year 1 1.1

DCR year 2 1.3

Year 3 Year 4

$ 702,061 $ 716,136

$ 702,061 $ 716,136
$ 25,976 $ 26,497
$ 676,085 $ 689,639
$ 115,000 $ 115,000
$ 125,000 $ 125,000
$ 436,085 $ 449,639

$ 13,521.70 $ 13,792.78
$14,994 $14,382
$14,263 $14,876
$ 393,306 $ 406,588
$ 188,787 $ 195,162
$ 204,519 $ 211,426
Year 3 Year 4

Year 3 Year 4
FINANCING DETAILS AND ASSUMPTIONS
mount $ 4,740,000
s.) 5
mp 2
Canada Bond Rate Project 2
ate + Basis Points Project 2
Rate 4.25%
Yr. 12
Period 20 years
Period 240 months
e Interest Rate 4.295
PMT Rounded ($29,564.00)
d Minimum Debt Coverage
1.20000
 Calcu

Contract Rent PSF

Tenant Area (sq.ft.) Analysis Year Market Rent PSF
1
Liquor Store Year 1 $32.00 $35.00
Year 2 $32.64 $35.70
Unit 1 5,200 Year 3 $33.29 $36.41
Year 4 $33.96 $37.14

Pawn Shop Year 1 $28.00 $27.50

Year 2 $28.56 $28.05
Unit 2 4,200 Year 3 $29.13 $28.61
Year 4 $29.71 $29.18

Small Pharmacy Year 1 $28.00 $28.00

Year 2 $28.56 $28.56
Unit 3 2,000 Year 3 $29.13 $29.13
Year 4 $29.71 $29.71

Barber Shop Year 1 $28.00 $24.50

Year 2 $28.56 $24.99
Unit 4 1,100 Year 3 $29.13 $25.49
Year 4 $29.71 $26.00

Vacant Corner Year 1 $32.00 $32.00

Year 2 $32.64 $32.64
Unit 5 5,000 Year 3 $33.29 $33.29
Year 4 $33.96 $33.96

Noodle Restaurant Year 1 $32.00 $32.00

Year 2 $32.64 $32.64
Unit 6 4,200 Year 3 $33.29 $33.29
Year 4 $33.96 $33.96

Total sq. ft. 21,700

Schedule of Leasing Commissions

Leasing Commissions Year 1 Year 2 Year 3

Unit 1
Unit 2
Unit 3
Unit 4
Unit 5 $ 4,000 $ 4,800 $ 4,800
Unit 6
Total Leasing Commissions
 Calculation of Gross Potential Revenue

Contract Rent PSF Recoverable CAM Recoverable Recoverable Tax

Annual Base Rent
2 PSF Annual CAM PSF
$ 182,000
$ 185,640
$ 189,332
$ 193,128

$ 115,500
$ 117,810
$ 120,162
$ 122,556

$ 56,000
$ 57,120
$ 58,260
$ 59,420

$ 26,950
$ 27,489
$ 28,039
$ 28,600

$ 80,000
$ 163,200
$ 166,450
$ 169,800

$ 134,400
$ 137,088
$ 139,818
$ 142,632

Year 4

$ 4,800
Recoverable
Total Recovery Total Income
Annual Tax
$ 182,000
$ 185,640
$ 189,332
$ 193,128

$ 115,500
$ 117,810
$ 120,162
$ 122,556

$ 56,000
$ 57,120
$ 58,260
$ 59,420

$ 26,950
$ 27,489
$ 28,039
$ 28,600

$ 80,000
$ 163,200
$ 166,450
$ 169,800

$ 134,400
$ 137,088
$ 139,818
$ 142,632
 Amortization Schedule

FINANCING DETAILS AND ASSUMPTIONS

Stated interest rate (i) 4.25% Inputs
No. of compounding periods per year (m) 2
Frequency of annuity payments during year (f) 12
Effective interest rate( r) 4.2952% Outputs
No. of periods for full amortization (n) 240
Loan amount 4,740,000
Nominal rate (j12) 4.212851%
Interest rate per month (imo) 0.351071%

Instalment to amortize 0.00617254852

Mortgage constant (*12) 0.07407058228
Annual mtg payment $351,094.51
Debt Coverage Ratio 1.20
NOI = Mtg pymt * DCR $421,313.41

Revised amortization 239.999947 (based on exact payments made)

Amortization Schedule
Beginning
Month Balance Payment Interest Principal
1 $4,740,000.00 $29,257.88 $16,640.76 $12,617.12
2 $4,727,382.88 $29,257.88 $16,596.47 $12,661.41
3 $4,714,721.47 $29,257.88 $16,552.02 $12,705.86
4 $4,702,015.61 $29,257.88 $16,507.41 $12,750.47
5 $4,689,265.14 $29,257.88 $16,462.65 $12,795.23
6 $4,676,469.90 $29,257.88 $16,417.73 $12,840.15
7 $4,663,629.75 $29,257.88 $16,372.65 $12,885.23
8 $4,650,744.52 $29,257.88 $16,327.41 $12,930.47
9 $4,637,814.05 $29,257.88 $16,282.02 $12,975.86
10 $4,624,838.19 $29,257.88 $16,236.46 $13,021.42
11 $4,611,816.77 $29,257.88 $16,190.75 $13,067.13
12 $4,598,749.64 $29,257.88 $16,144.87 $13,113.01
13 $4,585,636.63 $29,257.88 $16,098.84 $13,159.04
14 $4,572,477.59 $29,257.88 $16,052.64 $13,205.24
15 $4,559,272.35 $29,257.88 $16,006.28 $13,251.60
16 $4,546,020.75 $29,257.88 $15,959.76 $13,298.12
17 $4,532,722.63 $29,257.88 $15,913.07 $13,344.81
18 $4,519,377.82 $29,257.88 $15,866.22 $13,391.66
19 $4,505,986.16 $29,257.88 $15,819.21 $13,438.67
20 $4,492,547.49 $29,257.88 $15,772.03 $13,485.85
21 $4,479,061.64 $29,257.88 $15,724.68 $13,533.20
22 $4,465,528.44 $29,257.88 $15,677.17 $13,580.71
23 $4,451,947.73 $29,257.88 $15,629.49 $13,628.39
24 $4,438,319.35 $29,257.88 $15,581.65 $13,676.23
25 $4,424,643.12 $29,257.88 $15,533.64 $13,724.24
26 $4,410,918.87 $29,257.88 $15,485.45 $13,772.43
27 $4,397,146.45 $29,257.88 $15,437.10 $13,820.78
28 $4,383,325.67 $29,257.88 $15,388.58 $13,869.30
29 $4,369,456.37 $29,257.88 $15,339.89 $13,917.99
30 $4,355,538.38 $29,257.88 $15,291.03 $13,966.85
31 $4,341,571.53 $29,257.88 $15,242.00 $14,015.88
32 $4,327,555.65 $29,257.88 $15,192.79 $14,065.09
33 $4,313,490.56 $29,257.88 $15,143.41 $14,114.47
34 $4,299,376.09 $29,257.88 $15,093.86 $14,164.02
35 $4,285,212.07 $29,257.88 $15,044.13 $14,213.75
36 $4,270,998.33 $29,257.88 $14,994.23 $14,263.65
37 $4,256,734.68 $29,257.88 $14,944.16 $14,313.72
38 $4,242,420.96 $29,257.88 $14,893.91 $14,363.97
39 $4,228,056.98 $29,257.88 $14,843.48 $14,414.40
40 $4,213,642.58 $29,257.88 $14,792.87 $14,465.01
41 $4,199,177.58 $29,257.88 $14,742.09 $14,515.79
42 $4,184,661.79 $29,257.88 $14,691.13 $14,566.75
43 $4,170,095.04 $29,257.88 $14,639.99 $14,617.89
44 $4,155,477.15 $29,257.88 $14,588.67 $14,669.21
45 $4,140,807.95 $29,257.88 $14,537.17 $14,720.71
46 $4,126,087.24 $29,257.88 $14,485.49 $14,772.39
47 $4,111,314.85 $29,257.88 $14,433.63 $14,824.25
48 $4,096,490.60 $29,257.88 $14,381.59 $14,876.29
49 $4,081,614.31 $29,257.88 $14,329.36 $14,928.52
50 $4,066,685.79 $29,257.88 $14,276.95 $14,980.93
51 $4,051,704.86 $29,257.88 $14,224.36 $15,033.52
52 $4,036,671.34 $29,257.88 $14,171.58 $15,086.30
53 $4,021,585.04 $29,257.88 $14,118.62 $15,139.26
54 $4,006,445.78 $29,257.88 $14,065.47 $15,192.41
55 $3,991,253.37 $29,257.88 $14,012.13 $15,245.75
56 $3,976,007.62 $29,257.88 $13,958.61 $15,299.27
57 $3,960,708.34 $29,257.88 $13,904.90 $15,352.98
58 $3,945,355.36 $29,257.88 $13,851.00 $15,406.88
59 $3,929,948.47 $29,257.88 $13,796.91 $15,460.97
60 $3,914,487.50 $29,257.88 $13,742.63 $15,515.25
61 $3,898,972.25 $29,257.88 $13,688.16 $15,569.72
62 $3,883,402.53 $29,257.88 $13,633.50 $15,624.38
63 $3,867,778.15 $29,257.88 $13,578.64 $15,679.24
64 $3,852,098.91 $29,257.88 $13,523.60 $15,734.28
65 $3,836,364.63 $29,257.88 $13,468.36 $15,789.52
66 $3,820,575.11 $29,257.88 $13,412.93 $15,844.95
67 $3,804,730.16 $29,257.88 $13,357.30 $15,900.58
68 $3,788,829.58 $29,257.88 $13,301.48 $15,956.40
69 $3,772,873.18 $29,257.88 $13,245.46 $16,012.42
70 $3,756,860.76 $29,257.88 $13,189.25 $16,068.63
71 $3,740,792.13 $29,257.88 $13,132.83 $16,125.05
72 $3,724,667.08 $29,257.88 $13,076.22 $16,181.66
73 $3,708,485.43 $29,257.88 $13,019.41 $16,238.47
74 $3,692,246.96 $29,257.88 $12,962.41 $16,295.47
75 $3,675,951.49 $29,257.88 $12,905.20 $16,352.68
76 $3,659,598.80 $29,257.88 $12,847.79 $16,410.09
77 $3,643,188.71 $29,257.88 $12,790.18 $16,467.70
 78 $3,626,721.01 $29,257.88 $12,732.36 $16,525.52
79 $3,610,195.49 $29,257.88 $12,674.35 $16,583.53
80 $3,593,611.96 $29,257.88 $12,616.13 $16,641.75
81 $3,576,970.21 $29,257.88 $12,557.70 $16,700.18
82 $3,560,270.03 $29,257.88 $12,499.07 $16,758.81
83 $3,543,511.22 $29,257.88 $12,440.24 $16,817.64
84 $3,526,693.58 $29,257.88 $12,381.20 $16,876.68
85 $3,509,816.90 $29,257.88 $12,321.95 $16,935.93
86 $3,492,880.96 $29,257.88 $12,262.49 $16,995.39
87 $3,475,885.57 $29,257.88 $12,202.82 $17,055.06
88 $3,458,830.52 $29,257.88 $12,142.95 $17,114.93
89 $3,441,715.59 $29,257.88 $12,082.86 $17,175.02
90 $3,424,540.57 $29,257.88 $12,022.57 $17,235.31
91 $3,407,305.25 $29,257.88 $11,962.06 $17,295.82
92 $3,390,009.43 $29,257.88 $11,901.34 $17,356.54
93 $3,372,652.89 $29,257.88 $11,840.40 $17,417.48
94 $3,355,235.42 $29,257.88 $11,779.26 $17,478.62
95 $3,337,756.79 $29,257.88 $11,717.89 $17,539.99
96 $3,320,216.81 $29,257.88 $11,656.32 $17,601.56
97 $3,302,615.24 $29,257.88 $11,594.52 $17,663.36
98 $3,284,951.88 $29,257.88 $11,532.51 $17,725.37
99 $3,267,226.52 $29,257.88 $11,470.28 $17,787.60
100 $3,249,438.92 $29,257.88 $11,407.84 $17,850.04
101 $3,231,588.87 $29,257.88 $11,345.17 $17,912.71
102 $3,213,676.16 $29,257.88 $11,282.28 $17,975.60
103 $3,195,700.57 $29,257.88 $11,219.18 $18,038.70
104 $3,177,661.86 $29,257.88 $11,155.85 $18,102.03
105 $3,159,559.83 $29,257.88 $11,092.30 $18,165.58
106 $3,141,394.25 $29,257.88 $11,028.52 $18,229.36
107 $3,123,164.89 $29,257.88 $10,964.52 $18,293.36
108 $3,104,871.53 $29,257.88 $10,900.30 $18,357.58
109 $3,086,513.95 $29,257.88 $10,835.85 $18,422.03
110 $3,068,091.93 $29,257.88 $10,771.18 $18,486.70
111 $3,049,605.23 $29,257.88 $10,706.28 $18,551.60
112 $3,031,053.62 $29,257.88 $10,641.15 $18,616.73
113 $3,012,436.89 $29,257.88 $10,575.79 $18,682.09
114 $2,993,754.80 $29,257.88 $10,510.20 $18,747.68
115 $2,975,007.12 $29,257.88 $10,444.39 $18,813.49
116 $2,956,193.63 $29,257.88 $10,378.34 $18,879.54
117 $2,937,314.09 $29,257.88 $10,312.06 $18,945.82
118 $2,918,368.26 $29,257.88 $10,245.54 $19,012.34
119 $2,899,355.93 $29,257.88 $10,178.80 $19,079.08
120 $2,880,276.84 $29,257.88 $10,111.81 $19,146.07
121 $2,861,130.78 $29,257.88 $10,044.60 $19,213.28
122 $2,841,917.49 $29,257.88 $9,977.15 $19,280.73
123 $2,822,636.76 $29,257.88 $9,909.46 $19,348.42
124 $2,803,288.34 $29,257.88 $9,841.53 $19,416.35
125 $2,783,871.99 $29,257.88 $9,773.37 $19,484.51
126 $2,764,387.47 $29,257.88 $9,704.96 $19,552.92
127 $2,744,834.56 $29,257.88 $9,636.32 $19,621.56
128 $2,725,212.99 $29,257.88 $9,567.43 $19,690.45
129 $2,705,522.54 $29,257.88 $9,498.30 $19,759.58
130 $2,685,762.97 $29,257.88 $9,428.93 $19,828.95
131 $2,665,934.02 $29,257.88 $9,359.32 $19,898.56
132 $2,646,035.46 $29,257.88 $9,289.46 $19,968.42
133 $2,626,067.04 $29,257.88 $9,219.36 $20,038.52
134 $2,606,028.52 $29,257.88 $9,149.01 $20,108.87
135 $2,585,919.65 $29,257.88 $9,078.41 $20,179.47
136 $2,565,740.18 $29,257.88 $9,007.57 $20,250.31
137 $2,545,489.87 $29,257.88 $8,936.48 $20,321.40
138 $2,525,168.46 $29,257.88 $8,865.13 $20,392.75
139 $2,504,775.71 $29,257.88 $8,793.54 $20,464.34
140 $2,484,311.37 $29,257.88 $8,721.70 $20,536.18
141 $2,463,775.19 $29,257.88 $8,649.60 $20,608.28
142 $2,443,166.91 $29,257.88 $8,577.25 $20,680.63
143 $2,422,486.28 $29,257.88 $8,504.65 $20,753.23
144 $2,401,733.04 $29,257.88 $8,431.79 $20,826.09
145 $2,380,906.95 $29,257.88 $8,358.67 $20,899.21
146 $2,360,007.74 $29,257.88 $8,285.30 $20,972.58
147 $2,339,035.16 $29,257.88 $8,211.67 $21,046.21
148 $2,317,988.95 $29,257.88 $8,137.79 $21,120.09
149 $2,296,868.86 $29,257.88 $8,063.64 $21,194.24
150 $2,275,674.62 $29,257.88 $7,989.23 $21,268.65
151 $2,254,405.97 $29,257.88 $7,914.56 $21,343.32
152 $2,233,062.66 $29,257.88 $7,839.63 $21,418.25
153 $2,211,644.41 $29,257.88 $7,764.44 $21,493.44
154 $2,190,150.97 $29,257.88 $7,688.98 $21,568.90
155 $2,168,582.07 $29,257.88 $7,613.26 $21,644.62
156 $2,146,937.46 $29,257.88 $7,537.27 $21,720.61
157 $2,125,216.85 $29,257.88 $7,461.02 $21,796.86
158 $2,103,419.99 $29,257.88 $7,384.50 $21,873.38
159 $2,081,546.60 $29,257.88 $7,307.71 $21,950.17
160 $2,059,596.43 $29,257.88 $7,230.64 $22,027.24
161 $2,037,569.19 $29,257.88 $7,153.31 $22,104.57
162 $2,015,464.63 $29,257.88 $7,075.71 $22,182.17
163 $1,993,282.46 $29,257.88 $6,997.84 $22,260.04
164 $1,971,022.41 $29,257.88 $6,919.69 $22,338.19
165 $1,948,684.22 $29,257.88 $6,841.26 $22,416.62
166 $1,926,267.60 $29,257.88 $6,762.57 $22,495.31
167 $1,903,772.29 $29,257.88 $6,683.59 $22,574.29
168 $1,881,198.00 $29,257.88 $6,604.34 $22,653.54
169 $1,858,544.46 $29,257.88 $6,524.81 $22,733.07
170 $1,835,811.39 $29,257.88 $6,445.00 $22,812.88
171 $1,812,998.51 $29,257.88 $6,364.91 $22,892.97
172 $1,790,105.54 $29,257.88 $6,284.54 $22,973.34
173 $1,767,132.20 $29,257.88 $6,203.89 $23,053.99
174 $1,744,078.21 $29,257.88 $6,122.95 $23,134.93
175 $1,720,943.28 $29,257.88 $6,041.73 $23,216.15
176 $1,697,727.13 $29,257.88 $5,960.23 $23,297.65
177 $1,674,429.48 $29,257.88 $5,878.44 $23,379.44
178 $1,651,050.03 $29,257.88 $5,796.36 $23,461.52
179 $1,627,588.51 $29,257.88 $5,713.99 $23,543.89
180 $1,604,044.62 $29,257.88 $5,631.33 $23,626.55
181 $1,580,418.07 $29,257.88 $5,548.39 $23,709.49
182 $1,556,708.58 $29,257.88 $5,465.15 $23,792.73
183 $1,532,915.85 $29,257.88 $5,381.62 $23,876.26
184 $1,509,039.60 $29,257.88 $5,297.80 $23,960.08
185 $1,485,079.52 $29,257.88 $5,213.68 $24,044.20
186 $1,461,035.32 $29,257.88 $5,129.27 $24,128.61
187 $1,436,906.71 $29,257.88 $5,044.56 $24,213.32
188 $1,412,693.39 $29,257.88 $4,959.56 $24,298.32
189 $1,388,395.07 $29,257.88 $4,874.25 $24,383.63
190 $1,364,011.44 $29,257.88 $4,788.65 $24,469.23
191 $1,339,542.21 $29,257.88 $4,702.74 $24,555.14
192 $1,314,987.07 $29,257.88 $4,616.54 $24,641.34
193 $1,290,345.73 $29,257.88 $4,530.03 $24,727.85
194 $1,265,617.87 $29,257.88 $4,443.22 $24,814.66
195 $1,240,803.21 $29,257.88 $4,356.10 $24,901.78
196 $1,215,901.43 $29,257.88 $4,268.68 $24,989.20
197 $1,190,912.23 $29,257.88 $4,180.95 $25,076.93
198 $1,165,835.29 $29,257.88 $4,092.91 $25,164.97
199 $1,140,670.32 $29,257.88 $4,004.56 $25,253.32
200 $1,115,417.00 $29,257.88 $3,915.90 $25,341.98
201 $1,090,075.03 $29,257.88 $3,826.94 $25,430.94
202 $1,064,644.09 $29,257.88 $3,737.66 $25,520.22
203 $1,039,123.86 $29,257.88 $3,648.06 $25,609.82
204 $1,013,514.04 $29,257.88 $3,558.15 $25,699.73
205 $987,814.32 $29,257.88 $3,467.93 $25,789.95
206 $962,024.37 $29,257.88 $3,377.39 $25,880.49
207 $936,143.87 $29,257.88 $3,286.53 $25,971.35
208 $910,172.52 $29,257.88 $3,195.35 $26,062.53
209 $884,109.99 $29,257.88 $3,103.85 $26,154.03
210 $857,955.97 $29,257.88 $3,012.03 $26,245.85
211 $831,710.12 $29,257.88 $2,919.89 $26,337.99
212 $805,372.13 $29,257.88 $2,827.43 $26,430.45
213 $778,941.68 $29,257.88 $2,734.64 $26,523.24
214 $752,418.44 $29,257.88 $2,641.52 $26,616.36
215 $725,802.08 $29,257.88 $2,548.08 $26,709.80
216 $699,092.28 $29,257.88 $2,454.31 $26,803.57
217 $672,288.71 $29,257.88 $2,360.21 $26,897.67
218 $645,391.04 $29,257.88 $2,265.78 $26,992.10
219 $618,398.94 $29,257.88 $2,171.02 $27,086.86
220 $591,312.08 $29,257.88 $2,075.92 $27,181.96
221 $564,130.13 $29,257.88 $1,980.50 $27,277.38
222 $536,852.74 $29,257.88 $1,884.73 $27,373.15
223 $509,479.60 $29,257.88 $1,788.63 $27,469.25
224 $482,010.35 $29,257.88 $1,692.20 $27,565.68
225 $454,444.67 $29,257.88 $1,595.42 $27,662.46
226 $426,782.21 $29,257.88 $1,498.31 $27,759.57
227 $399,022.64 $29,257.88 $1,400.85 $27,857.03
228 $371,165.61 $29,257.88 $1,303.05 $27,954.83
229 $343,210.79 $29,257.88 $1,204.91 $28,052.97
230 $315,157.82 $29,257.88 $1,106.43 $28,151.45
231 $287,006.37 $29,257.88 $1,007.60 $28,250.28
232 $258,756.09 $29,257.88 $908.42 $28,349.46
233 $230,406.62 $29,257.88 $808.89 $28,448.99
234 $201,957.63 $29,257.88 $709.01 $28,548.87
235 $173,408.77 $29,257.88 $608.79 $28,649.09
236 $144,759.68 $29,257.88 $508.21 $28,749.67
237 $116,010.01 $29,257.88 $407.28 $28,850.60
238 $87,159.40 $29,257.88 $305.99 $28,951.89
239 $58,207.51 $29,257.88 $204.35 $29,053.53
240 $29,153.98 $29,257.88 Err:502 Err:502
241 -$1.55 $29,257.88 Err:502 Err:502
242 -$29,259.43 $29,257.88 Err:502 Err:502
243 -$58,620.03 $29,257.88 Err:502 Err:502
244 -$88,083.71 $29,257.88 Err:502 Err:502
245 -$117,650.83 $29,257.88 Err:502 Err:502
246 -$147,321.74 $29,257.88 Err:502 Err:502
247 -$177,096.83 $29,257.88 Err:502 Err:502
248 -$206,976.44 $29,257.88 Err:502 Err:502
249 -$236,960.96 $29,257.88 Err:502 Err:502
250 -$267,050.74 $29,257.88 Err:502 Err:502
251 -$297,246.16 $29,257.88 Err:502 Err:502
252 -$327,547.58 $29,257.88 Err:502 Err:502
253 -$357,955.39 $29,257.88 Err:502 Err:502
254 -$388,469.94 $29,257.88 Err:502 Err:502
255 -$419,091.63 $29,257.88 Err:502 Err:502
256 -$449,820.82 $29,257.88 Err:502 Err:502
257 -$480,657.89 $29,257.88 Err:502 Err:502
258 -$511,603.22 $29,257.88 Err:502 Err:502
259 -$542,657.19 $29,257.88 Err:502 Err:502
260 -$573,820.18 $29,257.88 Err:502 Err:502
261 -$605,092.57 $29,257.88 Err:502 Err:502
262 -$636,474.76 $29,257.88 Err:502 Err:502
263 -$667,967.12 $29,257.88 Err:502 Err:502
264 -$699,570.03 $29,257.88 Err:502 Err:502
265 -$731,283.90 $29,257.88 Err:502 Err:502
266 -$763,109.11 $29,257.88 Err:502 Err:502
267 -$795,046.04 $29,257.88 Err:502 Err:502
268 -$827,095.10 $29,257.88 Err:502 Err:502
269 -$859,256.67 $29,257.88 Err:502 Err:502
270 -$891,531.15 $29,257.88 Err:502 Err:502
271 -$923,918.93 $29,257.88 Err:502 Err:502
272 -$956,420.43 $29,257.88 Err:502 Err:502
273 -$989,036.02 $29,257.88 Err:502 Err:502
274 -$1,021,766.12 $29,257.88 Err:502 Err:502
275 -$1,054,611.12 $29,257.88 Err:502 Err:502
276 -$1,087,571.43 $29,257.88 Err:502 Err:502
277 -$1,120,647.46 $29,257.88 Err:502 Err:502
278 -$1,153,839.61 $29,257.88 Err:502 Err:502
279 -$1,187,148.28 $29,257.88 Err:502 Err:502
280 -$1,220,573.90 $29,257.88 Err:502 Err:502
281 -$1,254,116.86 $29,257.88 Err:502 Err:502
282 -$1,287,777.58 $29,257.88 Err:502 Err:502
283 -$1,321,556.47 $29,257.88 Err:502 Err:502
284 -$1,355,453.95 $29,257.88 Err:502 Err:502
285 -$1,389,470.44 $29,257.88 Err:502 Err:502
286 -$1,423,606.34 $29,257.88 Err:502 Err:502
287 -$1,457,862.09 $29,257.88 Err:502 Err:502
288 -$1,492,238.10 $29,257.88 Err:502 Err:502
289 -$1,526,734.80 $29,257.88 Err:502 Err:502
290 -$1,561,352.60 $29,257.88 Err:502 Err:502
291 -$1,596,091.93 $29,257.88 Err:502 Err:502
292 -$1,630,953.23 $29,257.88 Err:502 Err:502
293 -$1,665,936.91 $29,257.88 Err:502 Err:502
294 -$1,701,043.41 $29,257.88 Err:502 Err:502
295 -$1,736,273.16 $29,257.88 Err:502 Err:502
296 -$1,771,626.59 $29,257.88 Err:502 Err:502
297 -$1,807,104.14 $29,257.88 Err:502 Err:502
298 -$1,842,706.23 $29,257.88 Err:502 Err:502
299 -$1,878,433.32 $29,257.88 Err:502 Err:502
300 -$1,914,285.83 $29,257.88 Err:502 Err:502
Schedule Mortgage Ye

Year Beginning Balance

1 $4,740,000.00
2 $4,585,636.63
3 $4,424,643.12
4 $4,256,734.68
Effective interest rate =
keff = (1+ i/m)(m/f) - 1

d on exact payments made)

Ending
Balance
$4,727,382.88
$4,714,721.47
$4,702,015.61
$4,689,265.14
$4,676,469.90
$4,663,629.75
$4,650,744.52
$4,637,814.05
$4,624,838.19
$4,611,816.77 Year One
$4,598,749.64 Interest Principal For Formulas:
$4,585,636.63 $ (196,731.19) $ (154,363.37) type = The number indicating when the payments a
$4,572,477.59 0 = the end of the period
$4,559,272.35 1 = the start of the period
$4,546,020.75
$4,532,722.63
$4,519,377.82
$4,505,986.16
$4,492,547.49
$4,479,061.64
$4,465,528.44
$4,451,947.73 Year Two
$4,438,319.35 Interest Principal
$4,424,643.12 $ (190,101.04) $ (160,993.52)
$4,410,918.87
$4,397,146.45
$4,383,325.67
$4,369,456.37
$4,355,538.38
$4,341,571.53
$4,327,555.65
$4,313,490.56
$4,299,376.09
$4,285,212.07 Year Three
$4,270,998.33 Interest Principal
$4,256,734.68 $ (183,186.12) $ (167,908.44)
$4,242,420.96
$4,228,056.98
$4,213,642.58
$4,199,177.58
$4,184,661.79
$4,170,095.04
$4,155,477.15
$4,140,807.95
$4,126,087.24
$4,111,314.85 Year Four
$4,096,490.60 Interest Principal
$4,081,614.31 $ (175,974.19) $ (175,120.37)
$4,066,685.79
$4,051,704.86
$4,036,671.34
$4,021,585.04
$4,006,445.78
$3,991,253.37
$3,976,007.62
$3,960,708.34
$3,945,355.36
$3,929,948.47 Year Five
$3,914,487.50 Interest Principal
$3,898,972.25 $ (168,452.50) $ (182,642.06)
$3,883,402.53
$3,867,778.15
$3,852,098.91
$3,836,364.63
$3,820,575.11
$3,804,730.16
$3,788,829.58
$3,772,873.18
$3,756,860.76
$3,740,792.13
$3,724,667.08
$3,708,485.43
$3,692,246.96
$3,675,951.49
$3,659,598.80
$3,643,188.71
$3,626,721.01
$3,610,195.49
$3,593,611.96
$3,576,970.21
$3,560,270.03
$3,543,511.22
$3,526,693.58
$3,509,816.90
$3,492,880.96
$3,475,885.57
$3,458,830.52
$3,441,715.59
$3,424,540.57
$3,407,305.25
$3,390,009.43
$3,372,652.89
$3,355,235.42
$3,337,756.79
$3,320,216.81
$3,302,615.24
$3,284,951.88
$3,267,226.52
$3,249,438.92
$3,231,588.87
$3,213,676.16
$3,195,700.57
$3,177,661.86
$3,159,559.83
$3,141,394.25
$3,123,164.89
$3,104,871.53
$3,086,513.95
$3,068,091.93
$3,049,605.23
$3,031,053.62
$3,012,436.89
$2,993,754.80
$2,975,007.12
$2,956,193.63
$2,937,314.09
$2,918,368.26
$2,899,355.93
$2,880,276.84
$2,861,130.78
$2,841,917.49
$2,822,636.76
$2,803,288.34
$2,783,871.99
$2,764,387.47
$2,744,834.56
$2,725,212.99
$2,705,522.54
$2,685,762.97
$2,665,934.02
$2,646,035.46
$2,626,067.04
$2,606,028.52
$2,585,919.65
$2,565,740.18
$2,545,489.87
$2,525,168.46
$2,504,775.71
$2,484,311.37
$2,463,775.19
$2,443,166.91
$2,422,486.28
$2,401,733.04
$2,380,906.95
$2,360,007.74
$2,339,035.16
$2,317,988.95
$2,296,868.86
$2,275,674.62
$2,254,405.97
$2,233,062.66
$2,211,644.41
$2,190,150.97
$2,168,582.07
$2,146,937.46
$2,125,216.85
$2,103,419.99
$2,081,546.60
$2,059,596.43
$2,037,569.19
$2,015,464.63
$1,993,282.46
$1,971,022.41
$1,948,684.22
$1,926,267.60
$1,903,772.29
$1,881,198.00
$1,858,544.46
$1,835,811.39
$1,812,998.51
$1,790,105.54
$1,767,132.20
$1,744,078.21
$1,720,943.28
$1,697,727.13
$1,674,429.48
$1,651,050.03
$1,627,588.51
$1,604,044.62
$1,580,418.07
$1,556,708.58
$1,532,915.85
$1,509,039.60
$1,485,079.52
$1,461,035.32
$1,436,906.71
$1,412,693.39
$1,388,395.07
$1,364,011.44
$1,339,542.21
$1,314,987.07
$1,290,345.73
$1,265,617.87
$1,240,803.21
$1,215,901.43
$1,190,912.23
$1,165,835.29
$1,140,670.32
$1,115,417.00
$1,090,075.03
$1,064,644.09
$1,039,123.86
$1,013,514.04
$987,814.32
$962,024.37
$936,143.87
$910,172.52
$884,109.99
$857,955.97
$831,710.12
$805,372.13
$778,941.68
$752,418.44
$725,802.08
$699,092.28
$672,288.71
$645,391.04
$618,398.94
$591,312.08
$564,130.13
$536,852.74
$509,479.60
$482,010.35
$454,444.67
$426,782.21
$399,022.64
$371,165.61
$343,210.79
$315,157.82
$287,006.37
$258,756.09
$230,406.62
$201,957.63
$173,408.77
$144,759.68
$116,010.01
 $87,159.40
$58,207.51
$29,153.98
-$1.55
-$29,259.43
-$58,620.03
-$88,083.71
-$117,650.83
-$147,321.74
-$177,096.83
-$206,976.44
-$236,960.96
-$267,050.74
-$297,246.16
-$327,547.58
-$357,955.39
-$388,469.94
-$419,091.63
-$449,820.82
-$480,657.89
-$511,603.22
-$542,657.19
-$573,820.18
-$605,092.57
-$636,474.76
-$667,967.12
-$699,570.03
-$731,283.90
-$763,109.11
-$795,046.04
-$827,095.10
-$859,256.67
-$891,531.15
-$923,918.93
-$956,420.43
-$989,036.02
-$1,021,766.12
-$1,054,611.12
-$1,087,571.43
-$1,120,647.46
-$1,153,839.61
-$1,187,148.28
-$1,220,573.90
-$1,254,116.86
-$1,287,777.58
-$1,321,556.47
-$1,355,453.95
-$1,389,470.44
-$1,423,606.34
-$1,457,862.09
-$1,492,238.10
-$1,526,734.80
-$1,561,352.60
-$1,596,091.93
-$1,630,953.23
-$1,665,936.91
-$1,701,043.41
-$1,736,273.16
-$1,771,626.59
-$1,807,104.14
-$1,842,706.23
-$1,878,433.32
-$1,914,285.83
-$1,950,264.21
 Mortgage Yearly Summary

Monthly
Ending Balance Interest Principal
Payment

$29,257.88 $4,598,750 $196,731 $154,363

$29,257.88 $4,438,319 $190,101 $160,994
$29,257.88 $4,270,998 $183,186 $167,908
$29,257.88 $4,096,491 $175,974 $175,120

16145 15582 14994 14382

13113 13676 14263 14876

cating when the payments are due:

of the period
of the period