Courtney Downs July 06

8/14/2019 Courtney Downs July 06

1/51

USA Courtney Downs LeaseCo, LLCBudget Comparison

Books = Accrual

For the period ending July 31, 2006

MTD MTD YTD YTD AnnualActual Budget $ Variance TD Variance Comment Actual Budget $ Variance Budget YTD Variance Comment Filter

0.01

355,720.00 356,985.00 (1,265.00) 2,490,040.00 2,492,515.00 (2,475.00) 4,302,534.00 9,994,054.00

1,020.00 0.00 1,020.00 (1,440.00) 0.00 (1,440.00) 0.00 (840.00)

356,740.00 356,985.00 (245.00) 2,488,600.00 2,492,515.00 (3,915.00) 4,302,534.00 9,993,214.00Dues 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

13.00 0.00 13.00 (18.00) 0.00 (18.00) 0.00 (10.00)(24,375.41) (21,419.00) (2,956.41) (222,591.99) (212,849.00) (9,742.99) (390,390.00) (884,324.80)

ons (434.57) (2,000.00) 1,565.43 (105,908.03) (14,000.00) (91,908.03) (24,000.00) (236,685.20)

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

(4,763.88) (500.00) (4,263.88) (14,898.90) (3,500.00) (11,398.90) (6,000.00) (45,325.56)

(1,980.00) (1,980.00) 0.00 (13,860.00) (13,860.00) 0.00 (23,760.00) (55,440.00)0.00 (575.00) 575.00 (1,725.00) (4,025.00) 2,300.00 (6,900.00) (10,350.00)

(1,780.80) (1,900.00) 119.20 (12,465.60) (13,300.00) 834.40 (22,800.00) (51,292.80)

enance Fe 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 (1,130.00) 1,130.00 No rentals this month. 0.00 (7,910.00) 7,910.00 (13,560.00) (13,560.00)

ns (83,133.20) (87,436.00) 4,302.80 (493,637.10) (596,968.00) 103,330.90 (1,019,064.00) (2,172,604.60)

es Income 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

nce 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00$240,285.14 $240,045.00 $240.14 $1,623,495.38 $1,626,103.00 $(2,607.62) $2,796,060.00 6,523,621.04

0.010.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

152.90 68.00 84.90 221.20 476.00 (254.80) 816.00 1,564.20

me 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00ees 3,163.00 2,300.00 863.00 11,886.45 16,100.00 (4,213.55) 27,600.00 57,698.90

um 155.00 300.00 (145.00) 1,202.23 2,100.00 (897.77) 3,600.00 6,314.46649.68 1,300.00 (650.32) 6,575.22 9,100.00 (2,524.78) 15,600.00 30,049.80

Fees 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00970.00 1,000.00 (30.00) 7,315.00 7,000.00 315.00 12,000.00 28,570.00

mages 625.00 1,033.00 (408.00) 13,547.86 7,231.00 6,316.86 12,396.00 40,741.72

279.54 500.00 (220.46) 9,059.83 3,500.00 5,559.83 6,000.00 24,678.740.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

2,957.87 900.00 2,057.87 17,290.48 6,300.00 10,990.48 10,800.00 51,296.70

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00e 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00e 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00ents 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

5,987.70 8,700.00 (2,712.30) 45,306.98 60,900.00 (15,593.02) 104,400.00 206,989.36

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00me 1,006.00 1,000.00 6.00 7,042.00 7,000.00 42.00 12,000.00 28,096.00veloper 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00150.00 190.00 (40.00) 150.00 1,330.00 (1,180.00) 2,280.00 2,880.00

s 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1,851.00 2,000.00 (149.00) 22,815.00 14,000.00 8,815.00 24,000.00 73,332.002,026.18 929.00 1,097.18 28,384.32 6,503.00 21,881.32 11,148.00 71,969.00

s 505.00 225.00 280.00 1,833.15 1,575.00 258.15 2,700.00 7,376.30

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

nse 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

butions 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

20,478.87 20,445.00 33.87 172,629.72 143,115.00 29,514.72 245,340.00 631,557.180.01

$260,764.01 $260,490.00 $274.01 $1,796,125.10 $1,769,218.00 $26,907.10 $3,041,400.00 7,155,178.220.01

0.01

Due to market we cannot increase rents at thistime.

Some units residentsare paying more thanmarket rent. Will adjustfor August.

Variance due to actual

occupancy of 92%verses 94% budgeted.

Positive variance due toreduced upfrontconcessions.

Correction made due tomove out charges beingincorrectly posted.

No courtesy officer atthis time.

We have been reducingthe proratedconcessions on selectunits. Averageconcession is $265 perunit.

Aggressive rentalcollections.

Fewer rentals thananticipated.

Less bad debt at moveout.

More pets on site thananticipated. We take all

sizes but breedrestricted.

Garage occupancy is98%, some were givenfree as a move inincentive.

Increase in damages atmove out. There was 23move outs this month.

Positive due to folksbuying homes do notwant to renew at thistime.


2/51

8,370.94 9,545.00 1,174.06 61,285.18 71,586.00 10,300.82 124,082.00 286,344.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0014,312.58 6,660.00 (7,652.58) 74,564.94 49,951.00 (24,613.94) 86,582.00 199,804.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.004,039.90 3,500.00 (539.90) 25,215.10 24,500.00 (715.10) 42,000.00 98,000.00

2,105.22 1,576.00 (529.22) 12,938.45 11,681.00 (1,257.45) 20,210.00 46,724.00

1,349.00 1,442.00 93.00 10,469.00 10,094.00 (375.00) 17,304.00 40,376.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

1,017.97 0.00 (1,017.97) 11,165.31 0.00 (11,165.31) 0.00 0.00

1,617.01 1,576.00 (41.01) 15,874.11 11,681.00 (4,193.11) 20,210.00 46,724.0032,812.62 24,299.00 (8,513.62) 211,512.09 179,493.00 (32,019.09) 310,388.00 717,972.00

0.01pplies 1,219.25 600.00 (619.25) 7,251.77 4,200.00 (3,051.77) 7,200.00 16,800.00

835.86 1,080.00 244.14 6,681.50 7,560.00 878.50 12,960.00 30,240.00ers 69.00 100.00 31.00 680.57 700.00 19.43 1,200.00 2,800.00

103.95 200.00 96.05 1,114.84 1,400.00 285.16 2,400.00 5,600.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

ptions 0.00 345.00 345.00 142.00 345.00 203.00 1,645.00 3,025.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0095.00 100.00 5.00 1,560.75 1,700.00 139.25 2,200.00 5,800.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 200.00 200.00 16.20 1,400.00 1,383.80 2,400.00 5,600.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 750.00 750.00 2,676.11 5,250.00 2,573.89 9,000.00 21,000.00

1,720.76 0.00 (1,720.76) 1,720.76 0.00 (1,720.76) 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00e 4,043.82 3,375.00 (668.82) 21,844.50 22,555.00 710.50 39,005.00 90,865.00

0.01ns 4,815.29 3,452.00 (1,363.29) 33,471.12 25,149.00 (8,322.12) 42,409.00 99,611.00

1,819.46 2,500.00 680.54 6,241.79 6,375.00 133.21 10,300.00 28,050.00

1,676.50 1,033.00 (643.50) 13,585.25 7,231.00 (6,354.25) 12,396.00 28,924.00

1,000.00 900.00 (100.00) 9,500.00 6,300.00 (3,200.00) 10,800.00 25,200.00nse 9,311.25 7,885.00 (1,426.25) 62,798.16 45,055.00 (17,743.16) 75,905.00 181,785.00

0.01282.45 3,000.00 2,717.55 3,579.64 19,500.00 15,920.36 33,200.00 78,200.00

s. 2,790.00 3,000.00 210.00 14,785.00 19,500.00 4,715.00 32,500.00 77,500.00pairs 605.00 1,500.00 895.00 11,152.13 9,300.00 (1,852.13) 15,900.00 37,500.00

0.00 200.00 200.00 693.09 1,400.00 706.91 2,400.00 5,600.000.00 500.00 500.00 0.00 3,500.00 3,500.00 6,000.00 14,000.00

0.00 100.00 100.00 54.31 700.00 645.69 1,200.00 2,800.00acing 450.00 100.00 (350.00) 635.00 700.00 65.00 1,200.00 2,800.00

0.00 100.00 100.00 218.86 700.00 481.14 1,200.00 2,800.00191.91 300.00 108.09 620.45 2,100.00 1,479.55 3,600.00 8,400.00

nse 4,319.36 8,800.00 4,480.64 31,738.48 57,400.00 25,661.52 97,200.00 229,600.00

& Supplies 930.13 800.00 (130.13) 4,300.35 5,400.00 1,099.65 9,200.00 21,600.000.00 150.00 150.00 532.98 1,050.00 517.02 1,800.00 4,200.00

airs 85.40 75.00 (10.40) 870.03 525.00 (345.03) 4,200.00 5,400.00s 0.00 150.00 150.00 1,042.92 1,050.00 7.08 1,800.00 4,200.00

0.00 100.00 100.00 0.00 700.00 700.00 1,200.00 2,800.00655.01 1,400.00 744.99 2,978.83 3,800.00 821.17 5,800.00 16,200.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00855.08 50.00 (805.08) 1,418.51 350.00 (1,068.51) 600.00 1,400.00

airs 120.52 75.00 (45.52) 1,227.75 525.00 (702.75) 900.00 2,100.000.00 150.00 150.00 423.99 1,050.00 626.01 1,800.00 4,200.000.00 100.00 100.00 90.11 700.00 609.89 1,200.00 2,800.00

1,300.00 1,300.00 0.00 1,455.56 2,100.00 644.44 2,100.00 8,900.00pairs 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00s 806.66 295.00 (511.66) 1,353.31 2,065.00 711.69 11,540.00 16,260.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

ense 4,752.80 4,645.00 (107.80) 15,694.34 19,315.00 3,620.66 42,140.00 90,060.000.01

2,990.51 2,745.00 (245.51) 16,519.03 18,225.00 1,705.97 32,205.00 74,145.00

535.90 775.00 239.10 3,508.82 6,175.00 2,666.18 10,050.00 23,950.0075.00 75.00 0.00 525.00 525.00 0.00 900.00 2,100.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Fewer staff members atthis time. Interviewingfor replacements.

We are over inmaintenance payroll dueto additional porterposition that was notbudgeted, this is offsetin make ready expense.

Higher number ofrenewal bonuses paid inJuly.

Payroll tax percentagebased on gross.

Temporary office help

needed to assist in theoffice due to openposition.

Toner and repair ofbusiness center copier.Includes re-stock ofbussiness cards.

Monthly invoice was notreceived prior to ACME.

Reflects coat to set upthe quest suite. Includestwo months furniturerental.

Variance due to For

Rent Ad not budgeted.Spent less thanbudgeted.

Reflects four locatorfees paid. Average 50%fee.

Positive variance due tomaintenance staff doingall paints in houseinstead of outsidecontracting.

More carpets neededreplacing this monththan cleans.

No need to replace anyat this time.

Due to needing lesschemicals in the pooland fountain.

Overage due toreplacement of windowsin the clubhousedamaged by vandalism.

Includes replacement ofdamaged fireextinquishers.

Variance due to cost toreplace main ID color toimprove curb appeal.


3/51

0.00 45.00 45.00 0.00 315.00 315.00 540.00 1,260.000.00 0.00 0.00 (522.13) 4,500.00 5,022.13 8,000.00 17,000.00

3,601.41 3,640.00 38.59 20,030.72 29,740.00 9,709.28 51,695.00 118,455.00

ctric 0.00 0.00 0.00 0.00 0.00 0.00 0 .00 0.00

er/Sewer 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

unds 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00sh Remov 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00aning Svcs 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00ntenance 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00rance 0.00 0.00 0.00 0.00 0.00 0.00 0 .00 0.00Taxes 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.01

11,015.77 10,420.00 (595.77) 74,018.61 70,770.00 (3,248.61) 121,658.00 284,038.00

es 1,000.00 1,000.00 0.00 7,000.00 7,000.00 0.00 12,000.00 28,000.00 Fee 3,250.00 3,250.00 0.00 22,750.00 22,750.00 0.00 39,000.00 91,000.00

697.80 550.00 (147.80) 9,867.70 3,850.00 (6,017.70) 6,600.00 15,400.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 (104.00) 0.00 104.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

xpenses 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 825.49 500.00 (325.49) 1,000.00 2,000.000.00 50.00 50.00 332.58 350.00 17.42 2,600.00 3,400.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

2,181.25 1,400.00 (781.25) 2,465.01 1,400.00 (1,065.01) 1,400.00 7,000.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

18,144.82 16,670.00 (1,474.82) 117,155.39 106,620.00 (10,535.39) 184,258.00 430,838.000.01

3,378.20 2,800.00 (578.20) 23,839.31 19,600.00 (4,239.31) 33,600.00 78,400.00

ent 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.001,189.28 1,800.00 610.72 18,563.31 20,460.00 1,896.69 35,120.00 79,640.00

9,391.72 10,000.00 608.28 63,112.32 63,000.00 (112.32) 106,000.00 252,000.00

ent Reimb (5,455.29) (4,500.00) 955.29 (30,077.82) (30,000.00) 77.82 (50,500.00) (119,500.00)6,184.61 6,290.00 105.39 2,097.29 21,970.00 19,872.71 40,840.00 97,360.00

bursement 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00(2,557.00) (2,200.00) 357.00 (13,952.99) (15,400.00) (1,447.01) (26,400.00) (61,600.00)

ursement 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.001,473.09 1,700.00 226.91 7,261.95 11,900.00 4,638.05 20,400.00 47,600.00

341.22 405.00 63.78 4,850.43 6,010.00 1,159.57 9,820.00 22,650.00t - Gas 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

13,945.83 16,295.00 2,349.17 75,693.80 97,540.00 21,846.20 168,880.00 396,550.00

0.010.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

LL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

es 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

s 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

ense 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.01

27,619.00 27,200.00 (419.00) 204,502.26 190,400.00 (14,102.26) 326,400.00 761,600.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.007,120.90 6,691.00 (429.90) Pollution policy included. 49,062.04 46,837.00 (2,225.04) 80,292.00 187,348.00

0.00 0.00 0.00 700.00 0.00 (700.00) 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

e 34,739.90 33,891.00 (848.90) 254,264.30 237,237.00 (17,027.30) 406,692.00 948,948.00es 125,671.81 119,500.00 (6,171.81) 810,731.78 794,955.00 (15,776.78) 1,376,163.00 3,205,073.00ME 135,092.20 140,990.00 (5,897.80) 985,393.32 974,263.00 11,130.32 1,665,237.00 3,906,208.04

0.01106,586.67 106,587.00 0.33 746,106.69 746,109.00 2.31 1,279,044.00 2,984,436.00

86,666.67 86,667.00 0.33 606,666.69 606,669.00 2.31 1,040,004.00 2,426,676.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

193,253.34 193,254.00 0.66 1,352,773.38 1,352,778.00 4.62 2,319,048.00 5,411,112.000.01

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

0.01s 0.00 0.00 0.00 1,510.50 0.00 (1,510.50) 0.00 0.00

g Fees 0.00 0.00 0.00 764.30 0.00 (764.30) 0.00 0.000.00 0.00 0.00 305.62 0.00 (305.62) 0.00 0.00

0.00 0.00 0.00 59.04 0.00 (59.04) 0.00 0.00er 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

eup Costs 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00nse 0.00 0.00 0.00 2,639.46 0.00 (2,639.46) 0.00 0.00

0.010.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 3,000.00 3,000.00 3,000.00 9,000.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

ement 2,834.77 6,600.00 3,765.23 38,030.35 37,400.00 (630.35) 63,800.00 151,800.00

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00s 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Based on % ofcollections.

Cost for YARDI licensefee.

Includes all commonareas.

We have turned downthe gas at the pool dueto the extreme summerheat, which has resultedin savings.

Based on billing fromArapahoe County.

Based on anticipated2006 taxes.

Replaced three carpetsthis month.


4/51

236.72 0.00 (236.72) 236.72 0.00 (236.72) 0.00 0.00nt 4,658.23 0.00 (4,658.23) 4,658.23 0.00 (4,658.23) 0.00 0.00

ments 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

7,729.72 6,600.00 (1,129.72) 42,925.30 40,400.00 (2,525.30) 66,800.00 160,800.000.01

0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

(65,890.86) (58,864.00) (7,026.86) (412,944.82) (418,915.00) 5,970.18 (720,611.00) (1,678,282.36)

0.00 0.00 0.00 224,944.65 124,335.14 100,609.51 124,335.14 574,224.44(65,890.86) (58,864.00) (7,026.86) (188,000.17) (294,579.86) 106,579.69 (596,275.86)

Cost to replace firepanels damaged due tolighting storm thatoccurred 7-30-06.


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USA Courtney Downs LeaseCo, LLCCash Flow (Actual + Budget)

Books = AccrualFor the 12 Months Ending Dec 2006

Jan 2006 Feb 2006 Mar 2006 Apr 2006 May 2006 Jun 2006 Jul 2006 Aug 2006 Sep 2006 Oct 2006 Nov 2006 Dec 2006 12 Month $ / $ /

Actual Actual Actual Actual Actual Actual Actual Reforecast Reforecast Reforecast Reforecast Reforecast Total Unit Sq. Ft.342 313,778

356,941 356,261 353,425 356,370 356,790 352,042 356,753 356,985 360,554 364,160 364,160 364,160 4,298,601 12,569.01 13.70(50,457) (41,504) (32,721) (25,521) (27,566) (20,448) (24,375) (28,559) (32,450) (36,416) (40,058) (40,058) (400,133) (1,169.98) (1.28)(80,765) (83,296) (83,632) (87,552) (89,252) (91,481) (83,568) (85,000) (80,000) (80,000) (75,000) (75,000) (994,545) (2,908.03) (3.17)(5,393) (4,621) (13,129) (3,761) (3,761) (3,761) (8,525) (6,085) (6,085) (6,085) (6,085) (6,085) (73,375) (214.55) (0.23)

220,326 226,840 223,943 239,537 236,211 236,353 240,285 237,341 242,019 241,659 243,017 243,017 2,830,548 8,276.46 9.02

26,619 19,852 32,398 25,588 26,964 20,730 20,479 22,000 20,445 20,445 20,445 20,445 276,410 808.22 0.88246,945 246,692 256,342 265,125 263,175 257,083 260,764 259,341 262,464 262,104 263,462 263,462 3,106,958 9,084.67 9.90

31,314 27,779 25,751 34,224 28,896 30,735 32,813 20,239 24,299 24,299 24,299 37,759 342,407 1,001.19 1.094,125 1,829 4,155 2,418 3,488 1,785 4,044 4,330 3,030 3,030 3,030 3,030 38,295 111.97 0.12

10,172 7,867 8,790 12,875 9,217 4,566 9,311 5,860 5,860 6,385 5,860 6,885 93,648 273.83 0.302,824 1,468 6,877 3,034 6,347 6,868 4,319 8,700 8,200 7,900 7,500 7,500 71,538 209.18 0.23

484 2,348 2,996 938 1,390 2,786 4,753 2,345 2,295 13,595 2,295 2,295 38,519 112.63 0.122,095 (1,911) 750 1,089 7,856 6,550 3,601 3,640 6,640 4,640 4,640 2,395 41,986 122.77 0.13

15,018 14,773 20,876 15,092 17,309 15,941 18,145 17,049 15,067 15,084 15,469 14,969 194,793 569.57 0.6217,811 10,978 5,261 9,118 8,907 9,673 13,946 16,295 16,655 16,590 10,900 10,900 147,034 429.92 0.471,732 605 (2,311) 0 (26) 0 0 0 0 0 0 0 0 0.00 0.00

34,178 39,883 33,892 33,962 41,050 36,561 34,740 33,891 33,891 37,237 37,237 37,237 433,756 1,268.29 1.38

119,755 105,619 107,036 112,750 124,435 115,464 125,672 112,349 115,937 128,760 111,230 122,970 1,401,976 4,099.35 4.47127,190 141,073 149,305 152,375 138,740 141,618 135,092 146,992 146,527 133,345 152,233 140,493 1,704,982 4,985.33 5.43

193,253 193,253 193,253 193,253 193,253 193,253 193,253 193,254 193,254 193,254 193,254 193,254 2,319,043 6,780.83 7.39

1,511 40 324 595 169 0 0 0 0 0 0 0 2,639 7.72 0.013,871 (782) 8,204 6,055 3,698 14,150 7,730 6,600 6,600 6,600 3,300 3,300 69,325 202.71 0.22

(71,445) (51,438) (52,476) (47,528) (58,381) (65,785) (65,891) (52,862) (53,327) (66,510) (44,322) (56,062) (686,026) (2,005.92) (2.19)

66,280 58,055 58,308 42,302 0 0 0 54,236 55,659 52,536 52,896 34,673 474,945

792 (2,230) (4,698) 2,407 6,708 2,152 4,182 0 0 0 0 0 9,3149,672 (940) (590) 4,549 (4,100) (8,512) 14,748 0 0 0 0 0 14,826

372 (275) 86 156 1,384 280 7,106 0 0 (30,110) 0 0 (21,000)(34,325) (34,325) (34,325) (34,325) 324,584 (30,394) (30,394) (2,951) 29,227 (2,951) (2,951) (2,951) 143,919

(23,489) (37,770) (39,527) (27,213) 328,577 (36,473) (4,358) (2,951) 29,227 (33,061) (2,951) (2,951) 147,060

(5,209) 4,548 22,679 5,948 (1,420) 65,950 8,685 (55,000) 0 0 0 0 46,18134,702 17,279 26,292 32,763 (282,521) 115,337 25,645 0 0 0 0 0 (30,504)1,398 6,448 1,789 (2,315) (5,212) (3,153) (2,593) 0 0 0 0 0 (3,638)

0 (763) (382) (382) (382) (701) (382) 0 0 0 0 0 (2,991)

30,890 27,511 50,377 36,014 (289,534) 177,433 31,355 (55,000) 0 0 0 0 9,048

2,236 (3,642) 16,682 3,574 (19,338) 75,176 (38,893) (56,577) 31,559 (47,034) 5,624 (24,339) (54,974)

29,014 25,372 42,054 45,628 26,290 101,466 62,573 5,996 37,554 (9,480) (3,856) (28,196)

UnSq. Ft.

## 384807

ba 160 146,080

cas 356 384,807

ce 300 274,080

co 257 254,074

jac 247 221,730

lee 10 22,160

re 428 398,868

ric 5 24,952

par 300 305,832

pol 440 403,761

sat 440 548,750

sw 240 264,892

trai 280 286,056

vlg 120 108,276

wa 284 254,103

we 12 48,309

wi 346 433,196

usa 280 299,111usa 284 254,103

b 2006 Mar 2006 Apr 2006 May 2006 Jun 2006 Jul 2006 Aug 2006 Sep 2006 Oct 2006 Nov 2006 Dec 2006

NET CASH FLOW CUMM. NET CASH FLOW


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50%

50%

50%

duction in tax escrow due to overage






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ourtney Downs ApartmentsJuly, 2006

15 INCOME THIS MONTH: $260,764.0023 INCOME LAST MONTH (June): $257,082.90-8 DIFFERENCE: 3681.1

TOTAL # GARAGES 120# GARAGES OCCUPIED 116

89.7%/92.6% GARAGES OCCUPIED % 97%

REASONS WHY PROSPECTS DID NOT LEASE:

raffic Leased

7 1 * Job Transfer 100 1 * Too expensive. 250 0 * Future/No Availability/Waiting list 12

10 0 * Just started looking. 180 0 * Waiting for Home to Sell 00 0 * Current Lease to Expire 0

80 10 * Needs Ground Floor 00 2 * Moved Elsewhere 05 1 * Will return with roommate or spous 9

0 0 * Realtor Looking for Client 00 0 * Undecided 0

0 0 * Employment pending 61 1 * House sale pending 7

* Rented at Competitor 0103 16 TOTALS 87

33%

S FOR THE MONTH

nt pricing and specials.ess.estaurant.

d with short term leases.rices and specials.

sing signs placed on Jamison & Brocos Parkway as well as 12 new flutter flags.

rice sheet for new members.ources at First data for all new hires.g Soopers grocery store with packets for new hires.

ERTIES:ssion given off per month to new residents.ng at $619, two bedrooms at $725 and three bedrooms starting at $899.

e of $25.92.

e from severe lighting. The stikes hit buildings 6, 12, 16, 18, 19 and the Clubhouse.


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r into buiding #11 (carriage home) garage.

large pellets at the Clubhouse breaking 4 large windows.

ROUTINE REPLACEMENTS:

Number of: Apt. #

10 REFRIGERATORS 0

7 DISHWASHERS 03 STOVES 0

175 A/C COMPRESSORS 0

Completed 0 CONDENSING UNITS 015 15 WATER HEATERS 0

32 32 ICE MAKERS 010 10 GARBAGE DISPOSALS 0

18 18 MICROWAVES 089 89 CARPETS 2 4103 & 92070 0 CEILING FANS 0

11 11 TOILETS 00 0 A/C FAN MOTORS 0

175 175 COUNTER TOPS 00 CABINETS RESURFACED KITCHEN 0

0 BLINDS 10

TUBS RESURFACED 0

TUB TILES 0

RESS:

TION:

drunk driver, in the process of repair.

to pellet shots.

strike on property.

y Howland

dy Gillane McMillan

iel Tellez

ell Brileye Chavez and Jorge Bernal

NTH:

siness center.n frontage roads.

NumberReplaced

15201-2, 9305-1, 12306-1, 19306-1, 16101-2,7311-1, 4202-2.


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TS SIZE TOTAL MKT RENT MKT RENT MONTHLY ANNUAL CONCESSION Vacants Notice

S/F PER UNIT PER S/F GROSS GROSS RENTS* PER UNIT GROSS

40 704 28,160 830 1.18 $33,200 $398,400 690.00 140.00 0.98 $27,600 9 1 8 3 0

32 704 22,528 860 1.22 $27,520 $330,240 690.00 55.00 1.10 $31,000 2 0 1 0 2

18 910 16,380 935 1.03 $16,830 $201,960 690.00 245.00 0.76 $12,420 1 0 1 1 5

24 808 19,392 895 1.11 $21,480 $257,760 830.00 65.00 1.03 $19,920 9 0 4 1 12

32 808 25,856 925 1.14 $29,600 $355,200 830.00 95.00 1.03 $26,560 0 0 0 0 0

42 977 41,034 1130 1.16 $47,460 $569,520 830.00 300.00 0.85 $34,860 11 1 5 0 13

44 1,030 45,320 1150 1.12 $50,600 $607,200 830.00 320.00 0.81 $36,520 4 0 2 1 7

22 1,030 22,660 1180 1.15 $25,960 $311,520 830.00 350.00 0.81 $18,260 0 0 0 0 0

24 977 23,448 1150 1.18 $27,600 $331,200 830.00 320.00 0.85 $19,920 0 0 0 0 0

16 1,030 16,480 1150 1.12 $18,400 $220,800 830.00 320.00 0.81 $13,280 0 0 0 0 5

20 1,030 20,600 1180 1.15 $23,600 $283,200 830.00 350.00 0.81 $16,600 0 0 0 0 0

24 1,140 27,360 1245 1.09 $29,880 $358,560 1,145.00 100.00 1.00 $27,480 3 1 1 1 3

4 1,140 4,560 1255 1.10 $5,020 $60,240 1,145.00 110.00 1.00 $4,580 0 0 0 0 0

342 917 313,778 $1,044 $1.14 $357,150 $4,285,800 $845 $213 0.92 $289,000 39 3 22 7 47

* Net of Concessions

EFFECTIVECONCESSION

EFFECTIVEPER S/F

EFFECTIVEMONTHLY

VacantsLeased

NoticeLeased

NetAvailable


10/51

MARKET SURVEYCourtney Downs

July-06

oyote Ranch Windsor @ Meridian Pinnacle @ the Creek Dove Valley Cherrywood Village Reserve @ South Creek

E Freemont Ave 9875 Jefferson Pkwy 6107 S Parker Rd 7550 S Blackhawk 16950 E Carlson Dr 15611 E Jamison Dr

03-693-8787 303-256-7700 303-766-2500 303-362-2000 303-805-7220 303-680-6696

Aurora, Co Englewood, Co 80112 Centennial, Co Englewood, Co 80112 Parker, Co 80134 Englewood, Co 80112

507 653 216 312 380 1683 6 3 4 3 4

$35.00 $40.00 $35.00 $35.00 $35.00 $40.00yes yes yes yes yes yes

yes yes yes yes yes yes

400-500 150-300 200-300 300-500 400 300-600

275-325 300 100 199 99 225-375

no no no no no no




no no no yes yes yes

1 1 1 1 2 1


1 1 1 1 2 1



yes yes yes yes yes yesyes yes yes yes yes yes


no yes yes yes yes yes

yes yes no yes yes yes

no yes yes yes no yes

no no no no no no

no no no no no no



no no no no no no

no yes yes yes yes yes


11/51

MARKET SURVEY Courtney Downs

July-06

(Concessions reduced rates)

PROPERTY: Courtney Downs Apt Coyote Ranch Windsor at Meridian Pinnacle @ the Creek Dove Valley Cherrywood Village Reserve@South Creek PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF PRICE SIZE PSF

fficiency fficiencyB1B (A) 690 704 0.98 690 779 0.89 655 627 1.04 619 685 0.90 710 768 0.92 660 707 0.93 575 763 0.75B1B (B) 690 808 0.85 735 853 0.86 655 701 0.93 660 705 0.94 740 842 0.88 759

B1B w/study 690 910 0.76 805 811 0.91 789 760 0.96 780B B

B w/loft B1B w/study 840 956 0.88 769 1051 0.73B2B (E) 830 977 0.85 790 1105 0.71 946 1044 0.91 1009 1120 0.90 855 1115 0.77 815 1033 0.79 725 1037 0.70

B2B (F) 830 1030 0.81 790 1192 0.66 1050 1196 0.88 965 1220 0.79 829 1093 0.76B2B (G) 830 1030 0.81 1050 1180 0.89B2B (H)B2B

B w/study B2B TH B2B TH

B2B 1,245 1140 1.09 1170 1398 0.84 1500 1330 1.13 1154 1230 0.94 1100 1356 0.81 1028 1235 0.83 899 1257 0.72B2B

% occ /leased 89 93 95% 85 94 96% 0 0% 95 97 94% 97.0 96 93% 94.0 96 93% 92.0 95 96%

Avg PSF 1 0.88 0.79 0.95 0.90 0.83 0.83 0.72

Avg Rents 829 1114 994 808 874 1131 995/ Avail) 342 38 507 20 653 216 12 312 15 360 32 0 168 8

ates Special: 1x1, $690 2x2. $830. Special: $300 to $400 off mSepcial:None Special:100 to 200 off rentsSpecial:$199.00 security deSpecial: Look and Lease $20Special: waive application or waive deposits.eflect these rates: $655 1/1 $840 2/2 $1500 3 Preferred employee program $300 of 1st full mopecials: special were pulled off the internet

due to property will not give info.Look and lease $250 off 1st full month

Ren: Free cleaning or carpet clRen.: Increase $0 to $50. Ren: Info not avail per corp Ren:Per corporate Ren: $40 increas for 12 mo Ren: Average $15 to $20 incRen: Free carpet cleaning with 12mo.

nits(Tot


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Documents

Courtney Downs July 06