Total Rental Revenue 353, , , ,708, ,670, , ,065,155.81

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1 The Meadows (meadows) Page 1 REVENUE Rent Income Rent Revenue 375, , ,861, ,852, , ,357, Loss to Lease , , , , , Rent Adjustment N/A -5, , N/A 0.00 Total Rent Income 376, , , ,855, ,842, , ,341, Rents were increased as well as renewal percentage. Vacancies / Rent Losses Vacancies-Apartments -14, , , , , , , Rental Concessions -2, , , , , , Administrative Unit , , , , , Maintenance Unit N/A N/A 0.00 Model Unit -2, , , , , , Bad Debt Loss-Rent -3, , , , , , , Includes write off of six previous residents. Total Vacancies / Rent Losses -22, , , , , , , Total Rental Revenue 353, , , ,708, ,670, , ,065, Net Rental Revenue 353, , , ,708, ,670, , ,065, Financial Revenue Interest - Replacement Reserve N/A N/A 0.00 Total Financial Revenue N/A N/A 0.00 Other Revenue Laundry and Vending Revenue , , , , Insufficient Funds (NSF) Damages and Cleaning Charges N/A N/A 0.00 Forfeited Security Deposits N/A N/A 0.00 Trash Revenue 3, , , , , , Utility Service Revenue , , Exterminating Revenue , , , , Application Fee 1, , , , , , , Month to Month Fee , , ,100.00

2 The Meadows (meadows) Page 2 Late Fee 1, , , , , Lease Termination Fee 13, , , , , , , Pet Fee 5, , , , , , , Pet fee dues increased due to 13 new pets. Legal Fees , , , Lockouts N/A N/A 0.00 Unit Transfer Fee , , , Two residents transferred units this month. Adminstrative / Refurbish Fee 3, , , , , , Bad Debt Recovery 1, , N/A 3, , N/A 0.00 Appliance Rent Revenue N/A N/A 0.00 Short Term Lease Fee 3, , , , , , , , Corporate Unit / Furnishings , , , , , Bank Card Service Fees N/A 1, , N/A 0.00 Cleaning and Damages Charges 4, , , , , , , Bad Debt Loss - Other Revenue -12, , , , , , , , Corporate Unit Rental N/A N/A 0.00 Resident Utility Reimbursement 18, , , , , , , Miscellaneous Revenue N/A 7, , N/A 0.00 Total Other Revenue 48, , , , , , , TOTAL REVENUE 402, , , ,986, ,932, , ,472, On Site Admin Costs Office Supplies , , , Stock WOW fridges in model units. Postage & Printing Credit Reports 1, , , , , Telephone and Answering Service 2, , , , , , Included AT&T invoice. We have now switched over to Ring Central, which will eliminate AT&T billing. Dues and Subscriptions , , , Unbudgeted Canon contract assumed at takeover. Training and Education , , ,250.00

3 The Meadows (meadows) Page 3 Office Equipment and Services N/A 1, , N/A 0.00 Purchase of new phones for Ring Central service. Bank Charges , , , Travel Expenses , , , Misc. Admin N/A Audit Expense N/A 3, , N/A 0.00 Fees & Licenses N/A Legal and Eviction , , , Corporate Unit Expense N/A N/A 0.00 Cable and Internet , , , Career Apparel/Uniforms N/A 1, Computer Supplies & Support 1, , , , , , Total On Site Admin Costs 9, , , , , , , Advertising and Marketing Signs and Banners , Resident Activities/Social Entertainment , Back to school party for residents. Collateral Printed Materials N/A , Misc. Marketing and Media , , , , Internet 2, , , , , , Promotional Advertising , Total Advertising and Marketing 2, , , , , , Payroll Management Payroll 7, , , , , Leasing Consultants 4, , , , , Bonus Payroll 6, , , , , , , Leasing commissions were paid. Maintenance Supervisor Payroll 3, , , , , , Maintenance Payroll 7, , , , , , Misc Payroll N/A N/A 0.00 Total Payroll 29, , , , , , , Benefits Payroll Taxes 3, , , , , , Worker's Compensation 1, , , , Medical Insurance 2, , , , , , , K Contributions , , ,782.00

4 The Meadows (meadows) Page 4 Disability Insurance , , , Total Benefits 7, , , , , , Interior Repairs Apt Paint and Painting Supplies , , , , , Apt Painting Labor 6, , , , , , We had 31 move outs, but only budgeted 18. Apt Cleaning Labor/Supplies 3, , , , , , , Carpet Cleaning & Repair 1, , , , , Interior Hardware and Decorating Supplies , , , Carpentry Int Labor/Supplies , , , , Plumbing Parts and Repairs 1, , , , , Electrical Parts and Repairs , , , Fire/Safety-Equipment , Appliance Parts and Repairs , , , Other Supplies and Repairs , , , Doors and Framing N/A 1, , Keys and Locks , , , Misc. Interior Repairs N/A N/A 0.00 Countertop Resurfacing 1, , N/A 3, , N/A 0.00 Six countertops were resurfaced. Tub Resurfacing N/A N/A 0.00 Total Interior Repairs 17, , , , , , , Exterior Repairs HVAC , , , , , , Plumbing-Exterior , , , Electrical-Exterior , , Bldg Ext Labor/Supplies , , , Painting Ext Labor/Supplies N/A N/A 0.00 Exterior Lights N/A N/A 0.00 Grounds Supplies , , Pool Supplies , , , Pool Repair/Opening N/A 3, , , , Signage N/A Sewage Lines/Treatment N/A Equipment and Tool Rental N/A N/A 0.00 Irrigation/Drainage/Power Washing ,100.00

5 The Meadows (meadows) Page 5 Roof and Gutter Repairs/Cleaning N/A 4, , N/A 0.00 Roof leak repairs for unit E121 and roof repair to building C. Exterior Fire Safety Equipment N/A N/A 0.00 Other Repairs and Maintenance , , , Gas/Oil/Grease N/A N/A 0.00 Glass/Windows/Screens , , , Total Exterior Repairs 2, , , , , , , Services Waste/Trash Removal 4, , , , , , Pest Control 1, , , , , Flea treatment and bed bug treatments. Lawn Maintenance/Landscaping , , , , , , We were not billed for services this month as a courtesy due to errors in provided service. Landscaping/Seasonal Color N/A 6, , , , Common Area Cleaning , , , Fire Protection and Inspections N/A 1, , , Vehicle Maintenance and Equipment , Security Monitoring N/A 1, , N/A 0.00 Total Services 6, , , , , , , Utilities Electric-House 3, , , , , , Electric-Office , , , Electric-Vacant 2, , , , , , Electric-Model/Staff , , , Gas-Common , , , Water and Sewer 18, , , , , , Total Utilities 25, , , , , , Management Fee Management Fee 13, , , , , , , Total Management Fees 13, , , , , , , Property Taxes and Insurance Property Taxes 25, , , , ,817.00

6 The Meadows (meadows) Page 6 Property Liability and Casualty Ins 6, , , , , , Other Insurance N/A N/A 0.00 Total Property Taxes & Ins 31, , , , , , Total Expenses 146, , , , , , ,546, Net Operating Income (Loss) 255, , , ,011, ,938, , ,926, Other Income/Expense Exterior Maint - Non-Recurring 1, , N/A 1, , N/A 0.00 Replacement of emergency and exit lights for compliance with Fire Marshall. Admin - Non-Recurring N/A 5, , , Partnership Expenses 2, , N/A 8, , N/A 0.00 Mortgage Interest 140, , , ,066, , ,629, Asset Management/GP Fees 9, , , , , , Total Other Income/Expense 153, , , , ,144, , ,744, Net Inc (Loss) Before Repl 101, , , ,018, , , ,181, Replacements Draperies and Blinds N/A 2, , N/A 0.00 Carpet and Vinyl 11, , , , , , Replaced carpet in 10 units and vinyl in 5 units. HVAC Replacement 1, , , , , , Water Heaters , , , Replaced 3 water heaters. Ceiling Fans/Fixtures N/A N/A 0.00 Range/Ventahood N/A , , Refrigerator/Icemaker , , , Dishwasher , , , Disposal , , Sink and Plumbing N/A 1, , N/A 0.00 Door and Window N/A N/A 0.00 Tools ,100.00

7 The Meadows (meadows) Page 7 Plumbing N/A 4, , N/A 0.00 Total Replacements 15, , , , , , , Major Capital Projects Unit Upgrades N/A 5, , N/A 0.00 Exterior Improvements 7, , N/A 68, , N/A 0.00 Concrete Improvements 1, , N/A 15, , N/A 0.00 Electrical N/A 131, , N/A 0.00 Stairwells N/A 6, , N/A 0.00 Total Major Capital Projects 9, , N/A 227, , N/A 0.00 Net Inc (Loss) Before Dep & Amt 76, , , , , , ,067, Net Income (Loss) 76, , , , , , ,067,118.29

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