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TABLE 3 <br />FINANCIAL GAP CALCULATION <br />FRANCIS XAVIER RESIDENCE <br />SANTA ANA, CALIFORNIA <br />I. Available Funding Sources <br />Permanent Loan <br />Net Operating Income <br />Income Available for Mortgage <br />Interest Rate <br />Permanent Loan <br />No Place Like Home (NPLH) Loan <br />Deferred Developer Fee <br />Total Available Funding Sources <br />II. Financial Gap Calculation <br />Total Available Funding Sources <br />(Less) Total Construction Costs <br />EXHIBIT 3 <br />13 <br />$54,300 NOI (See Table 2) <br />1.18 DCR $45,929 Debt Service <br />6.15% Interest Rate 10.22% Mortgage Constant <br />z <br />z 73% Total Developer Fee <br />$449,000 <br />$2,350,000 <br />$365,000 <br />$3,164,000 <br />$3,164,000 <br />(4,195,000) <br />III. I Financial Surplus/ (Financial Gap) 12 Units ($85,900) /Unit ($1,031,000) <br />1 Assumes a 15 -year amortization term. <br />z Based on Developer estimate. <br />Prepared by: Keyser Marston Associates, Inc. �_� <br />Filename: Francis Xavier Residence PF -1 9 19; Pro Forma; trb <br />