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Financing Structure - Falcon Bank 1-16-2026 (For Discussion Purposes Only) <br />Uses of Funds <br />Use Amount <br />Construction, Soft Costs & Fees $12,849,609 <br />Payoff of Existing Land Loan $587,800 <br />Total Project Cost $13,437,409 <br />Sources of Funds <br />Source Amount <br />Senior Construction Loan (75% of Total Project Cost) $10,078,057 <br />Initial Funding Gap (Before Land Equity) $3,359,352 <br />Developer Land Equity $1,370,000 <br />City of Ramsey Loan (4.18% Interest (indexed to 10 year Treasury Bill), 7 Year Term) $1,343,741 <br />Cash by Others <br />Total Sources / Uses $13,437,409 <br />HVCRE Breakdown <br />$645,611 <br />Description Amount <br />Required HVCRE Capital (15% of Total Project Cost) $2,015,611 <br />Land Equity Contributed ($1,370,000) <br />Remaining HVCRE Equity Needed <br />Financing Highlights: <br />$645,611 <br />Senior loan is $10,078,057, covering 75% of total project cost. <br />Developer land equity of $1,370,000 counts toward the HVCRE down payment. <br />City loan of $1,343,741 is applied to the project gap but does not satisfy HVCRE requirements. <br />Remaining project gap: $645,611 <br />Remaining HVCRE requirement: $645,611 <br />