- 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