Analysis Type	Owner Representation
Date of Acquisition	1 January 2001
Holding Period	5 Years
Inflation Rate	7% per Year
Present Value Discount Rate	11% per Year
Ackerman Proposal Assumptions
This report is produced from the basic planEASe software priced at $995. This form has been set up in this format specially for the evaluation of these lease proposals. When you use planEASe to evaluate your own lease proposals, you may set up your own form, deleting any of these rows, and adding as many of your own (for whatever purpose you name) as you wish. The Ackerman Proposal calls for a five year full-service lease at $9.30/square foot rentable fixed rate. Tenant improvement allowance of $7,000, plus floor covering allowance of $10/yd and an air conditioning allowance of $20,000. Additional improvements are to be paid by the tenant.
Annual Amount	$37,200.00
Start Date	at Acquisition
Period	Until Projected Sale
Growth Method	No Growth
Ackerman Proposal+ op Assumptions
Annual Amount	($5,400.00)
Start Date	at Acquisition
Period	Until Projected Sale
Growth Method	Annual at the Inflation Rate
Description
Ackerman Proposal+ tax Assumptions
Annual Amount	($1,000.00)
Start Date	at Acquisition
Period	Until Projected Sale
Growth Method	Annual at 2% Annually
Description
Ackerman Proposal+ net TI Assumptions
Remainder of TI's after Ackerman's $31,500 proposed allowance
Annual Amount	($31,500.00)
Start Date	at Acquisition
Period	None Specified
Growth Method	No Growth
Description	Remainder of TI's after Ackerman's $31,500 proposed allowance
Ackerman Proposal+ Commission Assumptions
Annual Amount	($10,000.00)
Start Date	at Acquisition
Period	None Specified
Growth Method	No Growth
Description
Ackerman Proposal+ parking Assumptions
Annual Amount	None
Start Date	at Acquisition
Period	Until Projected Sale
Growth Method	No Growth
Description
Ackerman Proposal+ net buyout Assumptions
Annual Amount	None
Start Date	at Acquisition
Period	None Specified
Growth Method	Continuous at the Inflation Rate
Description
Ackerman Proposal+ moving Assumptions
Annual Amount	None
Start Date	at Acquisition
Period	1 Year
Growth Method	No Growth
Description
Ackerman Proposal- free rent Assumptions
Annual Amount	None
Start Date	at Acquisition
Period	None Specified
Growth Method	Continuous at the Inflation Rate
Description
Maxwell Proposal Assumptions
This report is produced from the basic planEASe software priced at $995. This form has been set up in this format specially for the evaluation of these lease proposals. When you use planEASe to evaluate your own lease proposals, you may set up your own form, deleting any of these rows, and adding as many of your own (for whatever purpose you name) as you wish. The Maxwell Proposal calls for a five-year full-service lease beginning at $8.00/square foot rentable for years 1 and 2, then increasing to $9.50 in years 3, 4 and 5. Operating Expenses and Taxes to be passed through to the tenant, with an expense stop of $1.35/sf and a tax stop of $.25/sf. Three months' free rent at the beginning of the lease Tenant improvement allowance as in Bob Ackerman's proposal, plus additional $14,000 and $10,000 allowances for the UPS and PBX installations.
Annual Amount	$32,000.00
Start Date	at Acquisition
Period	2 Years
Growth Method	No Growth
Maxwell Proposal step 2 Assumptions
Annual Amount	$38,000.00
Start Date	Continuation
Period	3 Years
Growth Method	No Growth
Description
Maxwell Proposal+ op Assumptions
Annual Amount	$5,400.00
Start Date	at Acquisition
Period	Until Projected Sale
Growth Method	Annual at the Inflation Rate
Description
Maxwell Proposal- stop Assumptions
Annual Amount	($5,400.00)
Start Date	at Acquisition
Period	Until Projected Sale
Growth Method	No Growth
Description
Maxwell Proposal- stop Assumptions
Annual Amount	($5,400.00)
Start Date	at Acquisition
Period	Until Projected Sale
Growth Method	Annual at the Inflation Rate
Description
Maxwell Proposal+ tax Assumptions
Annual Amount	$1,000.00
Start Date	at Acquisition
Period	Until Projected Sale
Growth Method	Annual at 2% Annually
Description
Maxwell Proposal- stop Assumptions
Annual Amount	($1,000.00)
Start Date	at Acquisition
Period	Until Projected Sale
Growth Method	No Growth
Description
Maxwell Proposal- stop Assumptions
Annual Amount	($1,000.00)
Start Date	at Acquisition
Period	Until Projected Sale
Growth Method	Annual at 2% Annually
Description
Maxwell Proposal+ net TI Assumptions
Remaining TI's after allowances
Annual Amount	($55,500.00)
Start Date	at Acquisition
Period	None Specified
Growth Method	No Growth
Description	Remaining TI's after allowances
Maxwell Proposal+ Commission Assumptions
Annual Amount	($10,000.00)
Start Date	at Acquisition
Period	None Specified
Growth Method	No Growth
Description
Maxwell Proposal+ net buyout Assumptions
Annual Amount	None
Start Date	at Acquisition
Period	None Specified
Growth Method	Continuous at the Inflation Rate
Description
Maxwell Proposal+ parking Assumptions
Annual Amount	None
Start Date	at Acquisition
Period	None Specified
Growth Method	Continuous at the Inflation Rate
Description
Maxwell Proposal+ moving Assumptions
Annual Amount	None
Start Date	at Acquisition
Period	1 Year
Growth Method	No Growth
Description
Maxwell Proposal- free rent Assumptions
Annual Amount	($32,000.00)
Start Date	at Acquisition
Period	.25 Years
Growth Method	No Growth
Description
Foster Proposal Assumptions
This report is produced from the basic planEASe software priced at $995. This form has been set up in this format specially for the evaluation of these lease proposals. When you use planEASe to evaluate your own lease proposals, you may set up your own form, deleting any of these rows, and adding as many of your own (for whatever purpose you name) as you wish. David Foster's Proposal calls for a five-year net lease with base rent beginning at $6.50/square foot rentable with annual CPI escalation All operating expenses and taxes to be paid by the tenant. Tenant improvement allowance as in Ackerman's proposal.
Annual Amount	$26,000.00
Start Date	at Acquisition
Period	Until Projected Sale
Growth Method	Annual at the Inflation Rate
Foster Proposal+ op Assumptions
Annual Amount	None
Start Date	at Acquisition
Period	Until Projected Sale
Growth Method	Annual at the Inflation Rate
Description
Foster Proposal- stop Assumptions
Annual Amount	None
Start Date	at Acquisition
Period	5 Years
Growth Method	No Growth
Description
Foster Proposal+ tax Assumptions
Annual Amount	None
Start Date	at Acquisition
Period	Until Projected Sale
Growth Method	Annual at 2% Annually
Description
Foster Proposal- stop Assumptions
Annual Amount	None
Start Date	at Acquisition
Period	Until Projected Sale
Growth Method	No Growth
Description
Foster Proposal+ net TI Assumptions
Remaining TI's after allowances
Annual Amount	($31,500.00)
Start Date	at Acquisition
Period	None Specified
Growth Method	No Growth
Description	Remaining TI's after allowances
Foster Proposal+ Commission Assumptions
Annual Amount	($10,000.00)
Start Date	at Acquisition
Period	None Specified
Growth Method	No Growth
Description
Foster Proposal+ parking Assumptions
Annual Amount	None
Start Date	at Acquisition
Period	Until Projected Sale
Growth Method	No Growth
Description
Foster Proposal+ net buyout Assumptions
Annual Amount	None
Start Date	at Acquisition
Period	None Specified
Growth Method	Continuous at the Inflation Rate
Description
Foster Proposal+ moving Assumptions
Annual Amount	None
Start Date	at Acquisition
Period	1 Year
Growth Method	No Growth
Description
Foster Proposal- free rent Assumptions
Annual Amount	None
Start Date	at Acquisition
Period	1 Year
Growth Method	No Growth
Description