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loss amount with respect to the mortgage on each of the
properties.
Set out below is a list of the 15 properties,
together with the purchase price, the builder fee, the
rental deficit contribution, the rent advance, and the
amount borrowed with respect to each property:
Rental
Purchase Builder Deficit Rent
Houses and Condominiums Price Fee Contrib.Advance Loan
5419 Heronwood Dr. $54,000 $3,672.00 $6,189 $1,395 $51,300
5411 Heronwood Dr. 65,000 4,420.00 9,610 1,395 61,750
3518 Tower Hill Lane 63,750 4,335.00 8,959 1,425 60,550
12347 Northcliff Manor Dr.58,500 3,978.00 7,326 1,425 55,575
13066 Clarewood Dr. 57,000 3,876.00 8,169 1,275 54,150
6351 S. Briar Bayou Dr.61,500 4,182.00 8,914 1,350 58,425
12103 Kingslake Forest Dr.60,500 4,012.00 8,341 1,380 57,475
12107 Kingslake Forest Dr.50,500 3,434.00 5,231 1,380 47,975
12111 Kingslake Forest Dr.56,000 3,808.00 6,549 1,425 53,200
12115 Kingslake Forest Dr.64,000 4,352.00 9,037 1,425 60,800
12231 Carola Forest Dr.59,000 4,114.00 7,482 1,425 56,050
4850 West Ferret Dr. 71,000 4,828.00 9,905 1,575 67,450
4107 Medical Dr. (Condo.)59,950 4,076.60 7,777 1,425 56,950
13739 Earlywood Dr. 64,000 4,352.00 9,692 1,350 60,800
6402 Ridgecreek Dr. 64,000 4,352.00 9,6921,350 60,800
Total 908,700 61,791.60 122,87321,000 863,250
The sale of each property to EA 84-III is reflected on
a settlement statement executed on the date of closing that
shows the purchase price listed above as the contract sales
price. For each of the properties, the total of the
"amounts paid by/for" EA 84-III, consisting principally of
the loan proceeds and the sum of the builder fee, rent
advance, and rental deficit contribution, exceeded the
gross amount due from EA 84-III. Set out below is a
summary of the settlement statements showing that a total
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