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Income Statement (Accrual) Inland Towers of North Miami Beach, LLC - (inland)

January 2015 - November 2015

Period to Date % Year to Date %

INCOME

RENT INCOME Rent 1,589,977.92 87.65 1,589,977.92 87.65

NET RENT INCOME 1,589,977.92 87.65 1,589,977.92 87.65

PASSTHRU INCOME Passthru Water & Sewer 198.81 0.01 198.81 0.01

Estimated CAM Charges 218,851.84 12.06 218,851.84 12.06 CAM Reconciliation -3,598.31 -0.20 -3,598.31 -0.20

TOTAL REIMBURSEMENT 215,452.34 11.88 215,452.34 11.88

OTHER INCOME Late Fees Income 3,111.26 0.17 3,111.26 0.17 Interest Income 297.45 0.02 297.45 0.02 Other Income 5,000.00 0.28 5,000.00 0.28 NSF Fees 245.00 0.01 245.00 0.01

TOTAL OTHER INCOME 8,653.71 0.48 8,653.71 0.48

TOTAL INCOME 1,814,083.97 100.00 1,814,083.97 100.00

EXPENSES

DIRECT EXPENSES Materials on repairs 9,820.90 0.54 9,820.90 0.54 Building Repairs 39,634.52 2.18 39,634.52 2.18

Lease Commissions 22,384.23 1.23 22,384.23 1.23 Licenses, Permits & Renewals 7,021.28 0.39 7,021.28 0.39 Locksmith/Key Replacement 175.00 0.01 175.00 0.01 Janitor Services 65,987.81 3.64 65,987.81 3.64 HVAC (Heat, Ventilation, Air) 9,125.45 0.50 9,125.45 0.50 Elevator Inspection, Maintenance & 3,659.52 0.20 3,659.52 0.20 Landscaping/Fumigation 42,949.75 2.37 42,949.75 2.37 Pest control 1,926.00 0.11 1,926.00 0.11 Management Fees 85,055.69 4.69 85,055.69 4.69 Fire Alarm/Inspection/Security Servi 10,246.78 0.56 10,246.78 0.56 Insurance 46,548.72 2.57 46,548.72 2.57 Flood Insurance 2,171.00 0.12 2,171.00 0.12

Property Taxes 260,821.47 14.38 260,821.47 14.38 Electricity 97,173.40 5.36 97,173.40 5.36 Water & Sewer 27,793.11 1.53 27,793.11 1.53 Garbage/Trash Disposal 11,142.16 0.61 11,142.16 0.61

TOTAL DIRECT EXPENSES 743,636.79 40.99 743,636.79 40.99

GENERAL & ADMINISTRATIVE Janitorial Supplies 10,636.50 0.59 10,636.50 0.59 Donations 3,000.00 0.17 3,000.00 0.17 Office Expenses 155.14 0.01 155.14 0.01 Postage & Delivery Services 92.23 0.01 92.23 0.01 Telephone 2,372.47 0.13 2,372.47 0.13 Legal Fees Expense 8,593.33 0.47 8,593.33 0.47 Accounting Fees 3,210.00 0.18 3,210.00 0.18

Bank Charges Expense 53.12 0.00 53.12 0.00 Professional Fees 5,750.00 0.32 5,750.00 0.32

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Income Statement (Accrual) Inland Towers of North Miami Beach, LLC - (inland)

January 2015 - November 2015

Period to Date % Year to Date %

TOTAL G & A EXPENSE 33,862.79 1.87 33,862.79 1.87

DEBT EXPENSE 1st Mortgage Interest 643,368.05 35.47 643,368.05 35.47

TOTAL DEBT SERVICE 643,368.05 35.47 643,368.05 35.47

TOTAL EXPENSES 1,420,867.63 78.32 1,420,867.63 78.32

NET INCOME 393,216.34 21.68 393,216.34 21.68