Epic Associates 84-III, William C. Griffith, Jr. - Page 118




                                       - 45 -                                         
             Sources                                  Amount      Percent             
                                                                                     
             Proceeds from sale of class A unit     $132,918   2.32                   
             Proceeds from sale of class B unit     56,900     1.00                   
             Proceeds from sale of class C unit     208,750    3.64                   
             Proceeds from sale of class D unit     75,000     1.31                   
             Proceeds from sale of class E unit     290,850    5.07                   
             Proceeds from sale of additional class(es)450,000    7.85                   
             Capital contributions of general partner12,266     0.21                   
             First mortgage loans                   3,453,450  60.24                  
             Builder rebates                        755,287    13.17                  
             General partner advances               297,400     5.19                  
             Total                                  5,732,821   100.00                
             Uses                                                                     
             Purchase price of homes        3,956,700          69.02                  
             Sales commissions to broker/dealers    97,153     1.70                   
             Escrows and prepaid insurance          18,070     .32                    
             First mortgage loan origination fees   138,138    2.40                   
             Organizational fee to general partner  85,009     1.48                   
             Estimated cash-flow deficits                                             
             through September 30, 1984             473,417    8.26                   
             Available for cash-flow deficits       964,334     16.82                 
               Total                                5,732,821   100.00                


             As set forth above, it was anticipated that $473,417 of                  
             the proceeds of the offering would be offset by cash-flow                
             deficits through September 30, 1984, and $964,334 of the                 
             offering proceeds would be available for cash-flow deficits              
             after that date.                                                         
                  The projected annual income and operating costs of                  
             EA 84-III as set forth in the 84 offering memorandum shows               
             an annual operating deficit of $431,115 calculated as                    
             follows:                                                                 










Page:  Previous  35  36  37  38  39  40  41  42  43  44  45  46  47  48  49  50  51  52  53  54  Next

Last modified: May 25, 2011