2016Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Total

Physical Occupancy 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 % 100.00 %

Income500002 Rental Revenue

510020 Potential Rent510050 Gross Market Potential $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510060 Gross Market Potential- Affordable $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510100 Market Gain/Loss to Lease $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510120 Prior Period Rent Adjustment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510130 Prior Period Hsg Rent Adj $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510150 Total Potential Rent $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510200 Vacancy Loss $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510250 Non Rev Producing Units $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510260 Insurance Reimbursement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510300 Models $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510350 Employee Units $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510360 Government Subsidy Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510370 Loss to Other Adjustment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510380 Cares Program $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510400 Rental Concessions $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510410 Recurring Rental Concessions $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510420 Non Recurring Rental Concessions $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510430 Bad Debt- Concessions $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510560 Prior Mgmt Net Delinquency $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510950 Write-Offs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510951 Write-Off Rent Recovery $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0510990 TOTAL Rental Revenue $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

513000 Other Rental Income513050 Garage $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0513060 Parking $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0513100 Carport $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0513150 Storage Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0513250 Month to Month Fee $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0513300 Pet Premium $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0513350 Accelerated Rent $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0519090 Total Other Rental Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

519990 Total Rental Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

520000 Other Income520050 Application Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520100 NSF Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520150 Late Fees $25 $25 $25 $25 $25 $25 $25 $25 $25 $25 $25 $25 $300520155 Notice Service Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520200 Short Term Lease Fee $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520220 Guest Suite Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520250 Non-Refundable Pet Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520300 Reletting Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520350 Redecoration Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520351 Deposit Fee $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520360 Administrative Fee $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520400 Clubroom Rental $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520410 Other Appliance Rental $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520450 Vending Machine Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520500 Transfer Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520550 Gate Card Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520570 Association Dues $34,500 $34,500 $34,500 $34,500 $34,500 $34,500 $34,500 $34,500 $34,500 $34,500 $34,500 $34,500 $414,000520600 Lease Cancellation Fee $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

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2016Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Total

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520630 Bad Debt- Lease Termination Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520650 Write Off Other Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520700 Bad Debt Recovery- Other Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520800 Resident Services Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520830 Legal Fees to Residents $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520850 Damages & Cleaning Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520900 Interest on Bank/Escrow Accounts $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520950 Cable Service Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0520960 Cable Service Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0521050 Miscellaneous Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0521100 Forfeited Security Deposit $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0521170 Gym Membership Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0521250 Phone Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0521270 Key & Lock Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0521350 Credit Report Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0521365 High Speed Internet Service $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0521400 Other Income Concessions $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0521410 Other Income- General $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0521420 Gain/Loss On Sale $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0521990 Total Other Income $34,525 $34,525 $34,525 $34,525 $34,525 $34,525 $34,525 $34,525 $34,525 $34,525 $34,525 $34,525 $414,300

530000 Corporate Apartment Income530050 Corporate Premium $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0530055 Corporate Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0530100 Corporate Furniture & Furnishings $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0530200 Utilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0530250 Cleaning $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0530300 Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0530990 Total Corporate Apartment Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

535000 Retail Income535050 Retail Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0535090 Re Tax Income- Retail $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0535990 Total Retail Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

540000 Laundry Income540050 Washer & Dryer Rental $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0540100 Coin-Op Laundry $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0540110 Coin-Op Laundry- Percentage Rent $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0540990 Total Laundry Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

550000 Cost Recovery550050 Reimbursed Electricity $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0550100 Reimbursed Gas $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0550150 Reimbursed Water $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0550155 Reimbursed Water- Housing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0550200 Reimbursed Sewer $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0550210 Reimbursed Trash $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0550220 Reimbursed Pest Control $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0550230 Admin. Fee Markup- Reimb. Exp. Tenant Specific $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0550240 Direct Vendor Charges - Reimb. Exp. Tenant Specific $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0550250 Other Reimbursed Costs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0550255 Write Off- Reimbursed Utilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0550990 Total Cost Recovery $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

590000 Investment Income590200 Other Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0590990 Total Investment Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

599990 TOTAL REVENUE $34,525 $34,525 $34,525 $34,525 $34,525 $34,525 $34,525 $34,525 $34,525 $34,525 $34,525 $34,525 $414,300

2016Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Total

SIERRA CREST 2016 BUDGET

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60000 Operating Expenses

Payroll

711000 Administrative Salaries711100 Senior Manager $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0711200 Manager $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0711300 Asst. Manager $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0711400 Activity Director $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0711700 Bookkeeper $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0711800 Other Admin Salaries $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0711850 Employee Housing- Admin $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0711900 Ot- Admin Staff $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0711990 Total Administrative Salaries $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

712000 Leasing Salaries712100 Leasing Manager $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0712200 Leasing Consultant $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0712250 Employee Housing- Leasing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0712300 Other Leasing Salaries $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0712990 Total Leasing Salaries $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

713000 Maintenance Salaries713100 Divisional Maintenance Supervisor $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0713200 Service Manager $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0713300 Assistant Service Manager $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0713400 Maintenance Tech $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0713500 Porter/Grounds Person $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0713600 Concierge $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0713700 Painter In-House $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0713800 Housekeeper $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0713850 Employee Housing- Maint $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0713855 Ot- Maintenance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0713900 Other Maint Salaries $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0713990 Total Maintenance Salaries $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

713999 Total Salary & Wages $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

714000 Bonus714050 Bonus -Admin $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714100 Bonus -Leasing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714150 Bonus - Maintenance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714160 Bonus - Cleaning $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714170 Bonus - Grounds $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714180 Bonuses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714190 Total Bonus $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

714195 Payroll Taxes714200 Payroll Taxes - Admin $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714250 Payroll Taxes - Leasing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714300 Payroll Taxes - Maintenance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714310 Payroll Taxes - Cleaning $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714320 Payroll Taxes - Grounds $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714330 Payroll Taxes $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714339 Total Payroll Taxes $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

714340 Insurance Benefits714350 Insurance Benefits - Admin $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714400 Insurance Benefits - Leasing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

2016Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Total

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714450 Insurance Benefits - Maintenance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714460 Insurance Benefits - Cleaning $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714470 Insurance Benefits - Grounds $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714480 Insurance Benefits $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714489 Total Insurance Benefits $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

714490 401K Contribution714500 401K Contribution - Admin $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714550 401K Contribution - Leasing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714600 401K Contribution - Maintenance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714610 401K Contribution - Cleaning $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714620 401K Contribution - Grounds $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714630 401K Contribution $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714639 Total 401K Contribution $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

714640 Workers Compensation714650 Workers Compensation - Admin $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714700 Workers Compensation - Leasing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714750 Workers Compensation - Maintenance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714760 Workers Compensation - Cleaning $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714770 Workers Compensation - Grounds $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714780 Workers Compensation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714790 Total Workers Compensation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

714795 Other Payroll714800 Uniform $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714810 Uniforms- Admin $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714850 Temp Help - Admin $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714852 Temp Help - Leasing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714855 Temp Help - Maintenance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714870 Payroll Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714900 Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0714990 Total Other Payroll $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

715990 TOTAL Payroll $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

720000 UTILITIES720050 Electricity - Vacant $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0720100 Electricity- Common Area $1,038 $1,038 $1,038 $1,038 $1,038 $1,038 $1,038 $1,038 $1,038 $1,038 $1,038 $1,038 $12,461720150 Gas - Vacant $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0720200 Gas - Common Area $720 $720 $720 $720 $720 $720 $720 $720 $720 $720 $720 $720 $8,642720250 Water $0 $5,832 $0 $5,574 $0 $6,554 $616 $6,270 $0 $6,400 $0 $5,839 $37,085720255 Water Irrigation $387 $0 $387 $0 $917 $0 $0 $5,636 $0 $4,333 $0 $0 $11,659720260 Chilled Water720300 Sewer $0 $9,678 $0 $9,678 $0 $9,678 $0 $9,678 $0 $9,678 $0 $9,678 $58,067720350 Trash Removal $1,700 $1,700 $1,700 $1,700 $1,700 $1,700 $1,700 $1,700 $1,700 $1,700 $1,700 $1,700 $20,400720380 Cable $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0720385 Trash- Recycling $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0720390 Other Utilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0720400 Reimbursed Electricity $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0720450 Reimbursed Gas $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0720550 Reimbursed Sewer $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0720560 Reimbursed Trash $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0720600 Reimbursed- Other Utilities720990 Total Utilities $3,845 $18,968 $3,845 $18,710 $4,376 $19,691 $4,075 $25,042 $3,459 $23,869 $3,459 $18,975 $148,314

725000 Make Ready725050 Carpet Cleaning $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0725060 Carpet Repair $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

2016Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Total

SIERRA CREST 2016 BUDGET

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725100 Vinyl Repair $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0725125 Flooring Replacement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0725150 Countertop Repairs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0725200 Painting $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0725250 Window Coverings Repair/Replacement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0725300 Wall Coverings Repairs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0725350 Contract Cleaning $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0725360 Vacant Unit Prep $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0725400 Cleaning Supplies - Housekeeper $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0725460 Appliances $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0725475 Supplies Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0725500 Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0725990 Total Make Ready $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

730000 Contracted Services730050 Landscape Contract $2,470 $2,470 $2,470 $2,470 $2,470 $2,470 $2,470 $2,470 $2,470 $2,470 $2,470 $2,470 $29,640730100 Seasonal Color $0 $0 $0 $0 $400 $0 $0 $0 $0 $0 $0 $0 $400730110 Mulch/Pinestraw $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0730150 Landscape Supplies $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0730200 Plants and Plant Maintenance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0730300 Other Landscaping $90 $90 $930 $2,590 $90 $90 $90 $90 $90 $90 $90 $90 $4,420730310 Lake Maintenance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0730350 Courtesy Patrol $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0730400 Alarms & Monitoring $43 $43 $43 $43 $43 $43 $43 $43 $43 $43 $43 $43 $518730450 Pest Control $130 $130 $130 $130 $130 $130 $130 $130 $130 $130 $130 $130 $1,560730460 Reimbursed Pest Control $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0730500 Cable Contract $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0730550 Snow Removal $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0730600 Elevator Contract $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0730620 Contract Common Area Cleaning $0 $0 $0 $0 $400 $400 $400 $400 $400 $0 $0 $0 $2,000730630 Electrical Contract $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0730635 HVAC Contract $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0730640 Contract Housing Allowance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0730650 Other Contracted Services $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0730990 TOTAL Contracted Services $2,733 $2,733 $3,573 $5,233 $3,533 $3,133 $3,133 $3,133 $3,133 $2,733 $2,733 $2,733 $38,538

735000 Repairs & Maintenance735040 Electrical Repairs & Maint $0 $0 $425 $0 $0 $0 $425 $0 $0 $0 $0 $0 $850735050 Electrical Supplies $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735080 Plumbing Repairs & Maint $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735090 Plumbing Supplies $0 $0 $0 $0 $100 $0 $0 $0 $0 $0 $0 $0 $100735100 Elevator Supplies $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735105 Elevator Non-Recurring Repair $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735110 Elevator Monitoring $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735120 HVAC Repairs & Maint $0 $0 $175 $0 $0 $0 $0 $0 $0 $0 $0 $0 $175735130 HVAC Supplies $0 $0 $0 $0 $0 $0 $0 $0 $45 $0 $0 $0 $45735140 Water Heater $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735160 Appliance/Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735165 Small Appliances $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735200 Interior $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735240 Exterior Repairs & Maint $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735245 Exterior Supplies $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735260 Landscaping $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735280 Roof $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735320 Gutter $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735360 Pool & Spa Repairs & Maint $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735370 Pool Supplies $0 $0 $350 $140 $140 $900 $900 $980 $140 $350 $0 $0 $3,900735380 Lighting $0 $0 $150 $0 $0 $0 $0 $0 $0 $0 $0 $0 $150735400 Recreational Facilities $0 $0 $250 $0 $250 $0 $250 $0 $250 $0 $250 $0 $1,250735410 Lift Station Maintenance and Contract $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735420 Amenities R&M $4,285 $4,285 $4,285 $4,285 $4,285 $4,285 $4,285 $4,285 $4,285 $4,285 $4,285 $4,285 $51,420735425 Access Gates & Fences $0 $0 $0 $0 $0 $1,000 $0 $0 $1,000 $0 $0 $0 $2,000

2016Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Total

SIERRA CREST 2016 BUDGET

DETAIL BUDGET

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735430 Fountain Repairs/Supplies $92 $92 $92 $92 $92 $92 $92 $92 $92 $92 $92 $92 $1,107735440 Lawn Sprinkler/Irrigation $0 $0 $0 $1,500 $1,000 $0 $0 $0 $0 $700 $0 $0 $3,200735445 Grounds $25 $25 $25 $25 $25 $25 $25 $25 $25 $25 $25 $25 $300735480 Chimney Sweeping $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735520 Windows/Screens/Doors $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735525 Glass Repair $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735530 Door Repairs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735560 General Supplies $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735580 Tools & Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735600 Parking & Garage Repairs & Maint $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735605 Parking and Garage Cleaning $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735610 Parking and Garage Stripping $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735620 Parking Lot Repairs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735621 Parking and Garage Misc. $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735630 Ceiling/Interior Walls $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735640 Cleaning & Supplies $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735650 Water Extraction $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735670 Fire and Safety Repairs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735680 Fire/Life/Safety $71 $71 $3,021 $2,551 $71 $71 $71 $71 $71 $71 $71 $71 $6,282735685 Safety Tool Equipment/Rep/Sup $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735690 Countertop/Kitchen Repairs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735700 Bathroom Repairs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735710 Mirror Repairs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735720 Golf Carts/Vehicle $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735760 Painting Contract $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735800 Painting Supplies $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735810 Locks and Keys $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735820 Preventative Maintenance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735850 Maint Travel & Mileage $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735860 Computer Maintenance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735865 Communication Systems $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735880 Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0735990 Total Repairs & Maintenance $4,473 $4,473 $8,773 $8,593 $5,963 $6,373 $6,048 $5,453 $5,908 $5,523 $4,723 $4,473 $70,779

740000 Leasing & Marketing740050 Advertising-Printed Media $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740100 Apartment Guide/Magazine $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740105 For Rent Magazine $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740110 Internet Apartmen Guide $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740120 Other Internet Advertising $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740125 For Rent Internet $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740250 Collateral Materials $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740300 Banners/Flags $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740350 Signage $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740400 Model Furniture $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740450 Model Accessories $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740500 Promotions $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740525 Marketing Publicity $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740550 Prospect Refreshments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740600 Resident Functions/Parties $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740625 Resident Gifts $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740650 Resident Referral $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740700 Locator/Broker Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740725 Marketing Dues and Subscriptions $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740750 Market Studies/Shopper Reports $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740800 Community Newsletter $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740830 Activity Center $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740840 Fitness Program $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740850 Resident Retention $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740860 Lease Renewal Program $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740900 Other Adv/Internet/Website $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

2016Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Total

SIERRA CREST 2016 BUDGET

DETAIL BUDGET

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740950 Other Marketing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0740990 Total Leasing & Marketing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

745000 General & Administrative745040 Telephone $110 $110 $110 $110 $110 $110 $110 $110 $110 $110 $110 $110 $1,320745050 Cell Phone $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745060 Internet Service $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745080 Answering Service $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745120 Pagers/Beepers $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745160 Employee Recruiting $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745200 Training & Education $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745240 Employee Travel/Mileage $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745245 Airfare- Admin $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745250 Lodging- Admin $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745255 Rental Car- Admin $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745260 Meals & Entertainment- Admin $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

2016Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Total

SIERRA CREST 2016 BUDGET

DETAIL BUDGET

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745265 Other Travel- Admin $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745280 Employee Recognition $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745320 Office Supplies $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745360 Postage/Express Mail $25 $25 $25 $25 $25 $25 $25 $25 $25 $25 $25 $25 $300745400 Dues & Subscriptions $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745440 Office Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745450 Office Cleaning/Repairs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745480 Furniture Rental $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745490 Compliance Application Processing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745500 Corporate Events $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745520 Credit Verfication Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745530 Compliance Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745560 Eviction Legal Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745600 Governmental Licenses/Fees/Permits $0 $0 $0 $0 $1,000 $0 $0 $0 $0 $0 $0 $0 $1,000745640 Banking Fees/Charges $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $100 $1,200745645 Reimbursed Bank Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745670 Ista Fee $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745680 Computer Services & Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745720 Apt. Association Dues $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745725 Homeowners Association Dues $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745740 Misc Office Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745750 Office Rent $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745770 Audit/Tax Return Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745820 Office & Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745830 Hauling & Storage $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745840 Other G&A $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0745990 Total General & Administrative $235 $235 $235 $235 $1,235 $235 $235 $235 $235 $235 $235 $235 $3,820

746990 Total Controllable Expenses $11,287 $26,410 $16,427 $32,772 $15,107 $29,432 $13,491 $33,864 $12,735 $32,361 $11,150 $26,417 $261,451

747000 Non-Controllable Expenses

750000 Management Fees750050 Management Fee $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $29,997750060 Management Fee Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0750100 Management Fee Incentive $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0750150 Asset/Renovation Management Fee $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0750200 Accounting Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0750990 Total Management Fees $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $29,997

755000 Insurance755050 Property $4,737 $0 $0 $4,737 $0 $0 $4,737 $0 $0 $4,737 $0 $0 $18,948755100 General Liability $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0755150 Excess Liability $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0755160 Insurance- Pollution/Mold $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0755175 Boiler Liability $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0755180 Flood Insurance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0755185 Surety Bond $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0755190 Termite Bond $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0755200 Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0755990 Total Insurance $4,737 $0 $0 $4,737 $0 $0 $4,737 $0 $0 $4,737 $0 $0 $18,948

760000 Taxes760050 Real Estate Property Taxes $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0760100 Personal Property Taxes $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0760150 Tax Service Consultants $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0760160 Other Tax Service Consultants $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0760200 Special Assessments $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0760210 Homeowners Association Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0760220 Public Utilities, Lan Imp., Other Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0760250 Sales Tax $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

2016Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Total

SIERRA CREST 2016 BUDGET

DETAIL BUDGET

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760260 Use Tax $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0760300 Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0760350 Income Taxes $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0760990 Total Taxes $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

765000 Bad Debt Expense765050 Bad Debt Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0765130 Other Bad Debt Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0765990 Total Bad Debt Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

772990 TOTAL NON-CONTROLLABLE EXPENSES $7,237 $2,500 $2,500 $7,237 $2,500 $2,500 $7,237 $2,500 $2,500 $7,237 $2,500 $2,500 $48,945

773990 TOTAL OPERATING EXPENSES $18,523 $28,909 $18,926 $40,009 $17,607 $31,932 $20,728 $36,363 $15,235 $39,598 $13,650 $28,916 $310,396

774990 TOTAL NET OPERATING INCOME $16,002 $5,616 $15,599 ($5,484) $16,918 $2,593 $13,797 ($1,838) $19,290 ($5,073) $20,875 $5,609 $103,904

775000 Interest- Mrtg Encumbrance775011 Interest Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0775050 1st Mortgage Note $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0775055 Interest - Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

2016Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Total

SIERRA CREST 2016 BUDGET

DETAIL BUDGET

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775100 2nd Mortgage Note $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0775155 Loan Servicing Fee $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0775230 Mortgage Insurance Premium $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0775250 Financing Expense (Income) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0775260 Ground Lease $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0775300 Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0775990 Total Interest- Mrtg Encumbrance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

776000 Non Routine Maintenance776050 Building & Structures $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776100 General Property $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776150 Furniture & Fixtures $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776200 Equipment & Appliances $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776210 Appliance(Non-Capitalized) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776220 Recurring Water Heater Replacement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776250 Carpet Replacements $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776255 Vinyl Replacement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776270 Drapes/Blinds Replacement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776300 Interior $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776350 Exterior $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776400 Roof Repair $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776450 Hvac Replacements $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776500 Exterior Painting $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776550 Parking Lot $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776600 Pool $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776650 Electrical/Lighting $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776700 Rehabilitation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776750 Non Routine Landscape $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776850 Plumbing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776910 Construction Labor $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776940 Non-Recurring Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776950 Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0776990 TOTAL Non Routine Maintenance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

780000 Casualty Loss780050 Casualty Loss Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0780100 Insurance Reimbursement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0780990 Total Casualty Loss $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

781000 Professional/Partnership Expenses781050 Auditing $0 $0 $0 $3,250 $0 $0 $0 $0 $0 $0 $0 $0 $3,250781100 Partnership Accounting $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0781150 Legal Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0781170 3rd Party Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0781180 Admin Expense $890 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $890781230 Asset Management Fee $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0781235 Supplemental Management Fee $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0781255 Other Fee $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0781260 ASC 805 Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0781280 Prior Year Expense Adjustment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0781380 Project Management Fee $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0781390 Construction Management Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0781900 Other Partnership Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0781990 TOTAL Professional/Partnership Expenses $890 $0 $0 $3,250 $0 $0 $0 $0 $0 $0 $0 $0 $4,140

782000 Incentive Fees782150 Incentive Management Fee $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0782990 Total Incentive Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

785000 Depreciation & Amortization785050 Depreciation Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0785055 Depreciation- Furn, Fixt, & Equip $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

2016Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Total

SIERRA CREST 2016 BUDGET

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785060 Depreciation Expense- Bldg Impr $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0785065 Depreciation Expense- Bldg $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0785070 Depreciation Expense- Bldg & Maint $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0785075 Depreciation Expense- Land Improvm $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0DEPR Total Depreciation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0785100 Amortization Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0785110 Amortization Exp- Loan Acq Costs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0785117 Amortization Exp- Lease in Place Offset $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0AMOR Total Amortization $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0785990 TOTAL Depreciation & Amortization $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

756000 Sale/Purchase Income786580 Marketing Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0786990 Total Sale/Purchase Income $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

790000 Make-A-Difference Center Expenses790161 Utilities $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0790185 Software $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0790188 Supplies $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0790199 Total Make-A-Difference Center Expenses $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

920000 Capitalized Expenditures920100 Balconies & Decks $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920110 Blinds & Drapes $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920120 Cabinets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920130 Clubhouse Renovation $0 $600 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $600920140 Countertops $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920150 Doors & Hardware $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920155 Screen Replacement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920160 Electrical $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920165 Fixtures $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920170 Exterior Replacement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920180 Foundations & Slab $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920190 Fire Protection/Life Sfty $0 $0 $2,500 $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,500920200 Gutters & Downspouts $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $3,000 $0 $3,000920210 Hvac $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920215 Hvac - Unit $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920220 Insulation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920230 Interior Replacements $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920240 Model Renovation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920250 Painting & Staining $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920255 Painting - Exterior $0 $0 $0 $0 $0 $11,500 $0 $0 $0 $0 $0 $0 $11,500920256 Interior Painting $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920260 Plumbing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920261 Plumbing - Interior $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920270 Roof $0 $0 $0 $0 $3,500 $0 $0 $0 $0 $0 $0 $0 $3,500920275 Chimneys $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920280 Siding $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920285 Cable Tv $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920290 Stairs & Landings $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920300 Windows $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920305 Kitchen Remodeling $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920310 Dishwashers $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920320 Disposals $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920330 Microwaves $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920340 Ovens $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920350 Ranges $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920360 Hoods $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920370 Refrigerators $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920380 Washers/Dryers $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920390 Other Appliances $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920400 Common Area Carpet Rplcmnt $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

2016Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Total

SIERRA CREST 2016 BUDGET

DETAIL BUDGET

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920410 Common Area Vinyl Rplcmnt $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920420 Unit Carpet Replacement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920430 Unit Vinyl Replacement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920440 Other Flooring Replacement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920445 Bathroom Remodeling $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920446 Bathroom Resurfacing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920450 Computers $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920460 Furniture (Indoor) $0 $0 $800 $0 $0 $0 $0 $0 $0 $0 $0 $0 $800920470 Furniture (Outdoor) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920480 Golf Carts $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920490 Office Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920500 Other Personal Property $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920510 Ada $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920520 Miscellaneous Land $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920530 Site Improvements $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920540 Misc Ff&E $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920550 Misc Buildings $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920555 Bldg Improvements - Contra $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920560 Other Capital Improvements $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920565 Other Capital Cost - Contra $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920570 Exterior Lighting $1,500 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $1,500920580 Exercise Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920590 Retng Wall & Erosion Rep $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920600 Asphalt Repair $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920601 Walkways $0 $0 $0 $0 $0 $1,000 $0 $0 $0 $0 $0 $0 $1,000920604 Parking Lot Seal Coat $0 $0 $0 $0 $0 $0 $25,000 $0 $0 $0 $0 $0 $25,000920605 Parking Lot $0 $0 $0 $0 $0 $0 $500 $0 $0 $0 $0 $0 $500920606 Garage $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920610 Compactor Installation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920615 Asbestos Abatement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920620 Boiler $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920625 Landscaping $0 $0 $0 $6,000 $0 $0 $0 $0 $0 $0 $0 $0 $6,000920630 Swimming Pool $0 $0 $0 $3,090 $0 $0 $0 $0 $0 $0 $0 $0 $3,090920635 Security System $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920640 Fence Repair/Replacement $0 $0 $0 $1,500 $0 $0 $0 $0 $0 $0 $0 $0 $1,500920645 Sprinkler System $27,500 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $27,500920650 Pest Control $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920655 Tennis Courts $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920660 Signage $0 $14,500 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $14,500920661 Monument $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920665 Stucco $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920666 Engineering Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920670 Bia - Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920675 Water Damage $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920680 Ceiling Fans $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920685 Lps - Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920690 Non - Recurring Maintenance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920695 Trees/Pruning $0 $0 $0 $0 $4,500 $0 $0 $0 $0 $0 $0 $0 $4,500920700 Water Submeters $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920705 Drainage $5,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $5,000920710 Accrued Capital Asset $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920715 Mirrors $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920720 Building/Structure $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920722 Contingency $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920725 Washer/Dryer Retrofit $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920730 Lease-Up Costs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920735 Promotions Videos $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920740 Professional Fees $0 $725 $0 $0 $0 $575 $1,250 $0 $0 $0 $0 $0 $2,550920745 Prior Year Incentive Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920750 Fire Repairs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920755 Fire Repairs - Ins Reimb $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920760 Common Area $500 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $500

2016Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Total

SIERRA CREST 2016 BUDGET

DETAIL BUDGET

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920765 Elevators $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920770 Hardware Fixtures/Supplies $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920775 Construction Related Exp $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920780 Construction Cleaning $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920790 Laundry Room $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920800 Rehab Labor $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920805 Unit Rehab $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920969 Recreational Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920970 Bad Debt Expense $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0920990 TOTAL Capitalized Expenditures $34,500 $15,825 $3,300 $10,590 $8,000 $13,075 $26,750 $0 $0 $0 $3,000 $0 $115,040

NET INCOME / (LOSS) ($19,388) ($10,209) $12,299 ($19,324) $8,918 ($10,482) ($12,953) ($1,838) $19,290 ($5,073) $17,875 $5,609 ($15,276)

Restricted Cash101250 Replacement Reserves ($8,280) ($8,280) ($8,280) ($8,280) ($8,280) ($8,280) ($8,280) ($8,280) ($8,280) ($8,280) ($8,280) ($8,280) ($99,360)101251 Replacement Reserves Reimbursements $34,500 $15,825 $3,300 $10,590 $8,000 $13,075 $26,750 $0 $0 $0 $3,000 $0 $115,040101260 Restricted Reserves $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0101990 Total Restricted Cash $26,220 $7,545 ($4,980) $2,310 ($280) $4,795 $18,470 ($8,280) ($8,280) ($8,280) ($5,280) ($8,280) $15,680

150000 Capital Improvements/Replacements150020 Balconies and Decks $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150025 Stucco $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150030 Exterior Lighting $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150035 Interior Lighting $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150040 Blinds & Drapes $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150050 Exercise Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150060 Cabinets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150062 Medicine Cabinets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150070 Retng Wall & Erosion Rep $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150080 Clubhouse Renovation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150090 Asphalt/Walkway Repairs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150095 Asphalt Repairs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150100 Countertops $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150110 Compactor Installation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150120 Doors & Hardware $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150125 Building & Structure $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150130 Washer/Dryer Retrofit $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150135 Lease-Up Costs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150140 Electrical $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150150 Elevators $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150155 Drainage $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150160 Exterior Replacement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150165 Signage $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150170 Garages and Carports $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150175 Mirrors $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150180 Foundations & Slab $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150190 Masonry $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150200 Fire Protection $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150210 Life Safey $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150220 Gutters & Downspouts $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150225 Limited Access Gates $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150240 HVAC - Common $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150245 HVAC - Unit $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150250 HVAC - Central $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150260 Insulation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150280 Interior Replacements $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150300 Model Renovation $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150305 Model Accessories $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150320 Painting & Staining $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150325 Painting - Interior $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

2016Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Total

SIERRA CREST 2016 BUDGET

DETAIL BUDGET

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150327 Painting- Exterior $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150330 Waterproofing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150340 Plumbing $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150345 Plumbing - Interior $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150350 Plumbing - Exterior $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150360 Roof $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150380 Siding $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150400 Stairs & Landings $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150420 Windows $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150440 Dishwashers $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150460 Disposals $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150480 Microwaves $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150500 Ovens $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150520 Ranges $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150540 Hoods $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150560 Refrigerators $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150580 Washers/Dryers $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150590 Water Heaters $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150600 Other Appliances $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150610 Maintenance Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150620 Common Area Carpet Replacements $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150640 Common Area Vinyl Replacements $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150660 Unit Carpet Replacement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150680 Unit Vinyl Replacement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150700 Other Flooring Replacement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150720 Computers $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150740 Furniture (Indoor) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150750 Furniture (Other) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150760 Furniture (Outdoor) $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150780 Golf Carts $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150800 Office Equipment $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150810 Equipment Rental $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150820 Other Personal Property $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150830 Redec / Construction Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150831 Rehab - Common Area $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150832 Rehab - Landscape/Hardscape $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150833 Rehab - Unit Interiors $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150834 Rehab - Offices $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150835 Rehab - Soft Costs $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150836 Rehab - Salaries $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150838 Rehab - Appliances $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150839 Rehab - Cabinets $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150840 ADA $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150860 Miscellaneous Land $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150880 Site Improvements $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150890 Tenant Improvements $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150900 Miscellaneous FF&E $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150905 Construction Management Fee $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150906 Contingency $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150907 Brochures and Photos $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150908 Design Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150909 Deferred Maintenance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150920 Miscellaneous Buildings $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150940 Other Capital Improvements $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150950 Asbestos Abatement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150955 Boiler $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150960 Landscaping $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150962 Sprinklers $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150965 Swimming Pool $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150969 Recreational Facilities - Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150971 Non - Recurring Maintenance $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150972 Other - Capital $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

2016Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Total

SIERRA CREST 2016 BUDGET

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Acct # Description

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150973 Parking Lot $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150974 Water Saving Devices $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150975 Security System $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150976 Trees / Pruning $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150977 Water Submeters $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150978 Sprinkler System $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150979 Pest Control $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150980 Fence Repair/Replacement $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150981 Building Current Year $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150982 CAP Building Improvements $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150983 Parking Lot Seal Coat $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150984 LPS - Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150985 Construction in Progress $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150986 BIA - Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150987 Ceiling Fans $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150988 Engineering Fees $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150989 Land Improvements - Other $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0150990 Total Capital Improvements $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

250010 Long Term Liabilities250105 Principal Payments - Mtg Payable 1st $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0250153 Principal Payments - Mtg Payable 2nd $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0250157 Principal Payments - Mtg Payable 3rd $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0250990 Total Long Term Liabilties $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

300000 Equity300150 Capital Contributions $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0300210 Distribution- General Partner $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0399950 Total Equity $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0

NET CASH $6,832 ($2,664) $7,319 ($17,014) $8,638 ($5,687) $5,517 ($10,118) $11,010 ($13,353) $12,595 ($2,671) $404

Sierra Crest

2016Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Total

SIERRA CREST 2016 BUDGET

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Acct # Description

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0

5000

10000

15000

20000

25000

30000

35000

40000

1 2 3 4 5 6 7 8 9 10 11 12 Months

Sierra Crest

2013 Total Revenue

2014 Total Revenue

                                                                                                                                             TOTAL  REVENUE    

2016Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Total

SIERRA CREST 2016 BUDGET

DETAIL BUDGET

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