Trend Report OPERATING METRICS

Transcription

1 Andante Apartments MTD Actual Andante Apartments MTD Budget variance variance percent YTD variance YTD % Property Name: Holly Street Apartments Ownership Entity: Holly Street LP Regional Manager: John Gregory Total Units: 374 Square Footage: 328,328 1/13/20122:45 PM Trend Report OPERATING METRICS Dec 2011 Nov 2011 Oct 2011 Sept 2011 August 2011 July 2011 June 2011 May 2011 Apr 2011 Mar 2011 Feb 2011 Jan 2011 Dec 2010 Physical Occupancy (Mthly Ave) 9570% 9560% 9480% 9480% 9510% 9330% 9440% 9310% 9360% 9380% 9380% 9530% 9580% Economic Occupancy 9360% 9330% 9260% 9250% 9290% 9110% 9260% 9120% 9090% 9180% 9210% 9300% 9350% Variance: Physical - Economic 210% 230% 220% 230% 220% 220% 180% 190% 270% 200% 170% 230% 230% Concessions/Allowances (10,000) (10,323) (10,323) (10,491) (10,323) (9,923) (9,923) (8,216) (12,349) (8,109) (5,824) (10,394) (10,193) Traffic Applicants Gross Closing Ratio 53% 22% 31% 33% 48% 56% 27% 34% 28% 21% 22% 24% 21% Cancels Denials Net Rentals Net Closing Ratio 40% 19% 22% 14% 41% 42% 18% 24% 20% 15% 16% 20% 19% Expirations Renewals Move-Outs % Expirations 3% 4% 5% 9% 9% 8% 8% 9% 6% 6% 6% 7% 3% % Renewals 1% 3% 2% 3% 3% 2% 3% 3% 4% 3% 3% 5% 1% % Move - outs 4% 3% 2% 6% 7% 5% 5% 3% 5% 4% 5% 3% 2% Annualized Turnover 54% 52% 50% 50% 49% 48% 49% 47% 47% 47% 47% 45% 45% Move-ins Average Market Rent / unit Average GPR / unit Average LTL / unit $ LTL / unit 1% -2% -4% -5% -6% -3% 1% -2% -2% 0% -4% -2% -3% * Leasing activity based on AME dates SUBMARKET OVERVIEW The average occupancy for Holly Street continued to increased this month; going from 956% to 957% The properties average occupancy was is in line with area comps The Pasadena market has continued to stabilize with regards to rental rates and occupancy percentages: City Place (935%), Terraces (944%), Arpeggio (971%), and Westgate (962%) Archstone (975%), Gateway Villas (957%), and Archstone Del Mar Station (948%), experienced an increase in occupancy Most of the competitors are operating on a price optimizer system and are only offering minimal concessions Properties in the Pasadena market are seeing the opportunity for rents to be increased at the time of renewal December 2011 YTD variance Account Description ACTUAL BUDGET Variance % of Var Variance % of Var VARIANCE NOTES Revenue Total Apartment Rent (662,149) (653,744) 8,405 13% 58,448 07% In line with budget Total Allowances/Vacancies 42,590 52,646 10, % 4,497 07% In line with budget Total Other Rental Income % 5,379 00% In line with budget Other Income (25,102) (18,472) 6, % 36, % MTD/YTD:Retained/Refunded Deposits and Garage Parking/Storage increased usage due to higher occupancy Bad Debt Write Off (26,683) 2,400 29, % 18, % In line with budget Total Operating Income (671,344) (617,170) 54,174 88% 123,365 17% Operating Expenses Salary Expense 26,164 32,689 6, % 1,605 04% MTD: Short staffed in December Marketing Expense 7,421 4,180 (3,241) (775%) 7, % YTD due to true savings in Printed Media-Ads ($6,086) and ample supply of Stationary/Brochures ($10,605) Taxes & Insurance 123, ,822 2,275 18% 4,405 03% In line with budget Turnover Costs 7,845 4,942 (2,903) (587%) (28,032) (481%) MTD: Painting and Wall Covering YTD: Higher than budgeted move outs Repairs & Maintenance 58,735 26,364 (32,371) (1228%) (40,419) (120%) MTD: Unpaid cleaning contract invoices YTD: 21 catagories showed overages in Repairs and Maintenance Utilities 13,659 18,169 4, % (1,570) (07%) MTD: Lower than budgeted water usage General & Administrative 34,300 29,945 (4,355) (145%) (9,124) (24%) MTD: PM fees due to increased revenue along with parking permits (218 vs 156), offset by increased garage charges Total Operating Expenses 271, ,111 (29,561) (122%) (66,131) (22%) NOI Before Debt Service (399,672) (375,059) 24,613 66% 57,234 13%

2 Holly Street Apartments MTD Actual Holly Street Apartments MTD Budget Holly Street Apartments YTD Actual Holly Street Apartments YTD Budget Property Name: Holly Street Apartments Ownership Entity: Holly Street LP Regional Manager: John Gregory Total Units: 374 Square Footage: 328,328 1/13/20122:45 PM SARES-REGIS Management Company December 2011 Year-to-Date Actual Budget Variance % Actual Budget Variance % Variance Explanation Operating Income Rental Income Apartment Rent Gross Potential Rent (666,678) (619,595) 47,083 76% (7,717,644) (7,450,477) 267,167 36% MTD: We were able to raise rents due to higher than expected occupancy and demand Loss to Lease 22,947 (15,731) (38,678) 2459% 38,445 (170,588) (209,033) 1225% Increased market rents Retail Space Rent (18,418) (18,418) 0 00% (219,227) (218,913) % Total Apartment Rent (662,149) (653,744) 8,405 13% (7,898,426) (7,839,978) 58,448 07% In line with budget Allowances/Vacancies Model Allowances 3,725 3, % 44,700 44,610 (90) (02%) In line with budget Employee Allowances 6,275 6, % 71,498 76,908 5,410 70% YTD favorable variance is a result of the maintenance supervisor position not being open for two months Vacancies 28,198 38,120 9, % 439, ,237 (823) (02%) MTD actual Vacancy factor of 43% versus 58% budgeted Vacancies - Retail 4,392 4, % 52,704 52, % In line with budget Total Allowances/Vacancies 42,590 52,646 10, % 607, ,459 4,497 07% Net Rental Income (619,559) (601,098) 18,461 31% (7,290,463) (7,227,519) 62,944 09% In line with budgtet Other Rental Income Upgrade Unit Rent % (3,085) 0 3,085 00% MTD/YTD in line with budget; and reflect corrections made to the previous Reno II amenity charge MTM/Short Term Rent % (2,294) 0 2,294 00% Total Other Rental Income % (5,379) 0 5,379 00% Other Income (25,102) (18,472) 6, % (261,439) (225,324) 36, % MTD: 2 lease break fees totalling $ and 3 30-day notice payout charges totalling $1378 caused a $4549 favorable variance in Retained/Refunded deposits Also we had higher than budgeted income from parking meters ($3260), parking spots ($1288) and storage ($1650) This added $2723 to the monthly favorable variance YTD: Cumulative monthly overages totalling $20,249 in Retained/Refunded deposits, and $12,114 in parking gave us a $36,115 favorable annual variance in other income Bad Debt Write Off (26,683) 2,400 29, % 20,874 39,800 18, % MTD: Change in prepaid rent from November to December was $12,468 Change in delinquency from November to December was $8444 and budgeted at $0 11 FAS from August to December were edited this month to close out for the year This caused an additional $7314 favorable monthly variance in write offs YTD: Change in prepaid rent for the year totalled $19,998, and annual cumulative change in delinquency for the year totalled $4427 This favorable variance was offset by the unfavorable write off variance of $5499 Total Operating Income (671,344) (617,170) 54,174 88% (7,536,408) (7,413,043) 123,365 17% Operating Expenses Salary Expense 26,164 32,689 6, % 389, ,718 1,605 04% MTD: We were short a bookkeeper this month, and used temporary help for leasing consultants In addtion to the salary savings of $3577 we saved $2592 in payroll taxes, workers comp and insurance 1

3 Property Name: Holly Street Apartments Ownership Entity: Holly Street LP Regional Manager: John Gregory Total Units: 374 Square Footage: 328,328 1/13/20122:45 PM SARES-REGIS Management Company December 2011 Year-to-Date Variance Explanation Actual Budget Variance % Actual Budget Variance % Marketing Expense 7,421 4,180 (3,241) (775%) 55,657 62,661 7, % MTD: 6 rentcom vs budget of 1, UV of $2184 in outside leasing commissions Resident relations credit of $750 for flood, and $1000 credit to match ECPAC donation, causing additional UV of $1485 YTD: Unused monies for stationary and brochures due to ample supply saved us $10,198 and cutting back on printed media ads saved us $6192 These were offset by Resident relations credits totalling $8941 vs budget of $5K Taxes & Insurance 123, ,822 2,275 18% 1,512,427 1,516,832 4,405 03% In line with budget Turnover Costs 7,845 4,942 (2,903) (587%) 86,345 58,313 (28,032) (481%) MTD: Unfavorable Variance due to painting and wall coverings variance of $3312 due to payment of past due invoices at the end of the year YTD: Variance due to 202 move outs versus 177 budgeted causing higher than anticipated painting expenses Repairs & Maintenance 58,735 26,364 (32,371) (1228%) 376, ,638 (40,419) (120%) MTD: Unpaid invoices from June and September in cleaning contract, and one reclassed invoice for cleaning contract caused an unfavorable variance of $16,174 Interior building added $4054 to the unfavorable variance October - December monthly service and palm tree pruning put us over for the month by $8822 in landscape contract YTD: Cumulative monthly overage in Interior building contract for drywall repairs, tub reglazes and shower door repair added up to an unfavorable variance of $16,782 for the year Also, we were $8055 over in Plumbing Services due to more than expected plumbing issues Additional smaller overages in General Maintenance Supplies, HVAC contract, HVAC supplies, Keys and Locks, Landscape Contract, Light Bulbs, Painting and Wall Covering, Plumbing Services, Roof, Small Tools, Window Cleaning Contact and Window Cleaning Supplies added $31,701 to the unfavorable variance Utilities 13,659 18,169 4, % 220, ,148 (1,570) (07%) MTD: Favorable variance in utilites for the month is due to lower than expected water invoice Savings in water was $4456 General & Administrative 34,300 29,945 (4,355) (145%) 392, ,675 (9,124) (24%) MTD: There were 10 former residents who paid through the collection agency this month causing an unfavorable variance of $2460 in collection agency fees Also, legal fees totalling $2914 put us an additional $1414 over for the month Property Management fees were $1505 over in December due to higher than budgeted income YTD: Property Management fees were $5143 over for the year due to higher than expected income We were also over in Licenses and Permits by $4590 due to increased parking permits, Bank Charges by $1037, Collection Agency Fees by $2460, and Dues and Subscriptions by $3295 These were offset by legal fees favorable variance of $6205 due to collecting fees from residents Total Operating Expenses NOI Before Debt Service 271, ,111 (29,561) (122%) 3,033,116 2,966,985 (66,131) (22%) (399,672) (375,059) 24,613 66% (4,503,292) (4,446,058) 57,234 13% MTD/YTD favorable variance reflects: a 25% increase in Net Rental Income ($15,194); a 272% decrease in Total Bad Debt Write Off ($10,157); and a 303% savings in Utilities ($6,080) Debt Service Interest-First Trust Deed Interest-Second Trust Deed (5,826) 28,263 34, % 66, , , % MTD/YTD favorable variance due to a significant decrease in Interest-First Trust Deed due to lower floater bonds 32,142 32, % 385, , % In-line with budget Letter of Credit Fees 19,792 20, % 240, , % In-line with budget Bond Administration Fees 6,480 6,480 (0) (00%) 78,809 78,805 (4) (00%) In-line with budget 2

4 Property Name: Holly Street Apartments Ownership Entity: Holly Street LP Regional Manager: John Gregory Total Units: 374 Square Footage: 328,328 1/13/20122:45 PM SARES-REGIS Management Company December 2011 Year-to-Date Variance Explanation Actual Budget Variance % Actual Budget Variance % Total Debt Service 52,588 87,336 34, % 771,835 1,045, , % MTD/YTD reflects favorable variances of $20,188/$219,991 NOI After Debt Service (347,084) (287,723) 59, % (3,731,457) (3,400,940) 330,517 97% Capital Repair & Replacement (37,582) 10,675 48, % 305, ,979 (36,807) (137%) YTD unfavorable variance primarily due to repair costs associated water damage to retail space and demolition costs to retail to return the unit to retable conditiion % % Non-Operating (Income)/Expense (232) (300) (68) (227%) (24,808) (80,600) (55,792) (692%) Reflects legal fees due to an employee issue Total Distributable (Cash flow)/defici (384,898) (277,348) 107, % (3,450,480) (3,212,561) 237,919 74% (Contributions)/Distributions Owners Contributions (19,022) 0 19,022 00% (100,947) 0 100,947 00% Owners Distributions 662,849 0 (662,849) 00% 3,575,918 0 (3,575,918) 00% Owner distribution reflected Total (Contributions)/Distributions 643,827 0 (643,827) 00% 3,474,972 0 (3,474,972) 00% Net After Distribution 258,929 (277,348) (536,277) 1934% 24,491 (3,212,561) (3,237,052) 1008% Other (Sources) & Uses (304,301) 7, , % (116,122) 264, , % Delay in CapEx projects (Increase)/Decrease in Cash Position (45,372) (269,890) (224,518) (832%) (91,631) (2,947,644) (2,856,013) (969%) 3

5 Property Name: Holly Street Apartments Ownership Entity: Holly Street LP Regional Manager: John Gregory Total Units: 374 Square Footage: 328,328 1/13/20122:45 PM Operating Notes December 2011 Staffing ly, there are two Leasing Consultant positions available; interviews are being conducted Market Trends ( Rates, Traffic, New Construction, etc) The average occupancy for Holly Street continued to increased this month; going from 956% to 957% The properties average occupancy was is in line with area comps The Pasadena market has continued to stabilize with regards to rental rates and occupancy percentages: City Place (935%), Terraces (944%), Arpeggio (971%), and Westgate (962%) Archstone (975%), Gateway Villas (957%), and Archstone Del Mar Station (948%), experienced an increase in occupancy Most of the competitors are operating on a price optimizer system and are only offering minimal concessions Properties in the Pasadena market are see the opportunity for rents to be increased at the time of renewal Maintenance Projects/Trends The emergency light project is underway and projected to be completed on /by December 18th Operations Notes There is currently 1 person at legal, all others who were sent 3 days paid

6 Property: Holly Street LP End Date: 12/31/2011, Month SARES-REGIS Group Multi Family Property Management Division Cash Basis Operating Summary Date: 12/30/2011 Time: 12:21:19 PM Prepared By: Stephanie Tan Page 1 of 2 Economic Occupancy Physical Occupancy Operating Income Rental Income Apartment Rent - Gross Potential Rent - Retail Space Rent - Loss to Lease - Total Apartment Rent Allowances/Vacancies - Model Allowances - Employee Allowances - Vacancies - Vacancies - Retail Total Allowances/Vacancies - Net Rental Income Other Rental Income - Upgrade Unit Rent - MTM/Short Term Rent - Total Other Rental Income - Total Other Income - Total Bad Debt Write Off - Total Operating Income Operating Expenses - Salary Expense - Marketing Expense - Taxes & Insurance - Turnover Costs Metrics MTD Actual MTD Budget MTD Var MTD % YTD Actual YTD Budget YTD Var YTD % YTD Prior Year 000% 000% 936% 919% (16%) (18%) 923% 922% (01%) (01%) 913% 957% 942% (16%) (17%) 944% 944% (00%) (00%) 945% 000% 000% 000% 000% % % 0 000% 000% (666,678) (619,595) 47, % (7,717,644) (7,450,477) 267, % (7,567,980) (18,418) (18,418) 0 000% (219,227) (218,913) % (244,833) 22,947 (15,731) (38,678) (24587%) 38,445 (170,588) (209,033) (12254%) (148,766) (662,149) (653,744) 8, % (7,898,426) (7,839,978) 58, % (7,961,579) 000% 000% 000% 000% 3,725 3, % 44,700 44,610 (90) (020%) 44,609 6,275 6, % 71,498 76,908 5, % 78,513 28,198 38,120 9, % 439, ,237 (823) (019%) 436,578 4,392 4, % 52,704 52, % 131,769 42,590 52,646 10, % 607, ,459 4, % 691, % 000% (619,559) (601,098) 18, % (7,290,463) (7,227,519) 62, % (7,270,110) 000% 000% 000% 000% 000% 000% % (3,085) 0 3, % (1,524) % (2,294) 0 2, % % (5,379) 0 5, % (1,524) 000% 000% (25,102) (18,472) 6, % (261,439) (225,324) 36, % (213,165) % % 0 (26,683) 2,400 29, % 20,874 39,800 18, % 28, % % 0 (671,344) (617,170) 54, % (7,536,408) (7,413,043) 123, % (7,456,473) 000% 000% 000% 000% 26,164 32,689 6, % 389, ,718 1, % 440,464 7,421 4,180 (3,241) (7753%) 55,657 62,661 7, % 65, , ,822 2, % 1,512,427 1,516,832 4, % 1,522,971 7,845 4,942 (2,903) (5874%) 86,345 58,313 (28,032) (4807%) 55,164

7 Property: Holly Street LP End Date: 12/31/2011, Month SARES-REGIS Group Multi Family Property Management Division Cash Basis Operating Summary Date: 12/30/2011 Time: 12:21:19 PM Prepared By: Stephanie Tan Page 2 of 2 Metrics MTD Actual MTD Budget MTD Var MTD % YTD Actual YTD Budget YTD Var YTD % YTD Prior Year - Repairs & Maintenance 58,735 26,364 (32,371) (12278%) 376, ,638 (40,419) (1204%) 303,997 - Utilities 13,659 18,169 4, % 220, ,148 (1,570) (072%) 227,202 - General & Administrative 34,300 29,945 (4,355) (1454%) 392, ,675 (9,124) (238%) 381, % 000% - Total Operating Expenses 271, ,111 (29,561) (1221%) 3,033,116 2,966,985 (66,131) (223%) 2,997, % 000% NOI Before Debt Service (399,672) (375,059) 24, % (4,503,292) (4,446,058) 57, % (4,459,437) 000% 000% Debt Service 000% 000% - Interest-First Trust Deed (5,826) 28,263 34, % 66, , , % 88,913 - Interest-Second Trust Deed 32,142 32, % 385, , % 385,700 - Letter of Credit Fees 19,792 20, % 240, , % 241,547 - Bond Administration Fees 6,480 6,480 (0) (000%) 78,809 78,805 (4) (000%) 85,498 - Total Debt Service 52,588 87,336 34, % 771,835 1,045, , % 801, % 000% - NOI After Debt Service (347,084) (287,723) 59, % (3,731,457) (3,400,940) 330, % (3,657,779) 000% 000% - Capital Repair & Replacement (37,582) 10,675 48, % 305, ,979 (36,807) (1368%) 302,767 - Non-Operating (Income)/Expense (232) (300) (68) (2265%) (24,808) (80,600) (55,792) (6922%) (59,641) - Total Distributable (Cashflow)/Deficit (384,898) (277,348) 107, % (3,450,480) (3,212,561) 237, % (3,414,653) 000% 000% (Contributions)/Distributions 000% 000% - Owners Contributions (19,022) 0 19, % (100,947) 0 100, % (182,214) - Owners Distributions 662,849 0 (662,849) 000% 3,575,918 0 (3,575,918) 000% 3,291,428 Total (Contributions)/Distributions 643,827 0 (643,827) 000% 3,474,972 0 (3,474,972) 000% 3,109, % 000% Net After Distribution 258,929 (277,348) (536,277) (19336%) 24,491 (3,212,561) (3,237,052) (10076%) (305,439) Other (Sources) & Uses (304,301) 7, , % (116,122) 264, , % 274,985 (Increase)/Decrease in Cash Position (45,372) (269,890) (224,518) (8319%) (91,631) (2,947,644) (2,856,013) (9689%) (30,454) 000% 000%

8 Property: Holly Street LP End Date: 12/31/2011, Month SARES-REGIS Group Multifamily Property Management Division Cash Basis Statement of Operations Date: 12/30/2011 Time: 12:28:15 PM Prepared By: Stephanie Tan Page 1 of 7 P & L Standard Detail M MTD Actual MTD Budget MTD Var MTD % YTD Actual YTD Budget YTD Var YTD % YTD Prior Year 000% 000% Economic Occupancy 936% 919% (16%) (18%) 923% 922% (01%) (01%) 913% Physical Occupancy 957% 942% (16%) (17%) 944% 944% (00%) (00%) 945% 000% 000% Operating Income % % 0 Rental Income 000% 000% Apartment Rent 000% 000% - Gross Potential Rent (666,678) (619,595) 47, % (7,717,644) (7,450,477) 267, % (7,567,980) - Retail Space Rent (18,418) (18,418) 0 000% (219,227) (218,913) % (244,833) - Loss to Lease 22,947 (15,731) (38,678) (24587%) 38,445 (170,588) (209,033) (12254%) (148,766) - Total Apartment Rent (662,149) (653,744) 8, % (7,898,426) (7,839,978) 58, % (7,961,579) 000% 000% Allowances/Vacancies 000% 000% - Employee Allowances 6,275 6, % 71,498 76,908 5, % 78,513 - Model Allowances 3,725 3, % 44,700 44,610 (90) (020%) 44,609 - Vacancies 28,198 38,120 9, % 439, ,237 (823) (019%) 436,578 - Vacancies - Retail 4,392 4, % 52,704 52, % 131,769 - Total Allow/Vacancies 42,590 52,646 10, % 607, ,459 4, % 691, % 000% - Net Rental Income (619,559) (601,098) 18, % (7,290,463) (7,227,519) 62, % (7,270,110) 000% 000% Other Rental Income 000% 000% - Upgrade Unit Rent % (3,085) 0 3, % (1,524) - MTM/Short Term Rent % (2,294) 0 2, % 0 - Total Other Rental Income % (5,379) 0 5, % (1,524) 000% 000% Other Income 000% 000% - Retained/Refunded Deposit (9,649) (5,100) 4, % (81,449) (61,200) 20, % (58,462) - NSF-Late Charges (1,824) (2,000) (176) (881%) (22,691) (24,000) (1,309) (546%) (25,363) - Ancillary Income (1,028) (1,028) 0 000% (12,336) (12,336) 0 000% (12,336) - Vending Machines % (356) (520) (164) (3154%) (583) - Garage Parking/Storage (6,198) (3,475) 2, % (53,814) (41,700) 12, % (42,930) - Laundry Income (189) (67) % (766) (804) (38) (470%) (1,072) - Retail Space CAM (4,003) (4,002) 1 001% (48,031) (48,024) 7 001% (34,644) - Miscellaneous Income 0 (400) (400) (10000%) (6,886) (4,800) 2, % (4,783) - Rental Fees (150) (900) (750) (8333%) (10,705) (10,800) (95) (088%) (11,295) - Pet Fees (2,061) (1,500) % (22,394) (18,000) 4, % (19,631) - Renter's Ins Comm % (2,012) (3,140) (1,128) (3593%) (2,066) 000% 000% - Total Other Income (25,102) (18,472) 6, % (261,439) (225,324) 36, % (213,165) % % 0 Bad Debt Write Off % % 0 - Prepaid Rent (12,468) 0 12, % (19,998) 0 19, % (4,193)

9 Property: Holly Street LP End Date: 12/31/2011, Month SARES-REGIS Group Multifamily Property Management Division Cash Basis Statement of Operations Date: 12/30/2011 Time: 12:28:15 PM Prepared By: Stephanie Tan Page 2 of 7 P & L Standard Detail M MTD Actual MTD Budget MTD Var MTD % YTD Actual YTD Budget YTD Var YTD % YTD Prior Year - Bad Debt-Delinquent Balance (8,444) 0 8, % (4,427) 0 4, % 16,576 - Write Off Turnover Costs (31) % 2,767 2,400 (367) (1530%) 1,026 - Write Off Legal Fees % 2,659 6,000 3, % 1,023 - Write Off Utilities (126) % 89 0 (89) 000% 0 - Write Off Rent (1,751) 1,000 2, % 18,645 23,000 4, % 10,072 - Write Off Term/Insuf Notice (3,863) 700 4, % 20,326 8,400 (11,926) (14198%) 4,968 - Write Off Other % 2,834 0 (2,834) 000% 1,226 - Bad Debt Recovery % (2,021) 0 2, % (2,373) - Total Bad Debt Write Off (26,683) 2,400 29, % 20,874 39,800 18, % 28, % % 0 - Total Operating Income (671,344) (617,170) 54, % (7,536,408) (7,413,043) 123, % (7,456,473) 000% 000% Operating Expenses 000% 000% 000% 000% Salary Expenses 000% 000% - Resident Manager 4,371 4, % 52,387 52, % 50,923 - Assistant Manager 2,936 3, % 14,880 40,560 25, % 29,299 - Bookkeeper 0 2,803 2, % 28,951 33,636 4, % 34,251 - Marketing Manager % 20,397 0 (20,397) 000% 10,482 - Leasing Consultant 0 4,810 4, % 36,575 57,720 21, % 52,013 - Maintenance Supervisor 3,988 3,919 (69) (175%) 49,550 47,028 (2,522) (536%) 61,430 - Maintenance Mechanic 4,995 4,740 (255) (537%) 44,562 56,880 12, % 30,908 - Custodian % 14,940 0 (14,940) 000% 62,256 - Bonus & Incentives 1,000 1, % 33,891 15,600 (18,291) (11725%) 17,650 - Temporary Help 4,488 0 (4,488) 000% 19,517 0 (19,517) 000% 3,921 - Employee Relations % 1, (362) (5565%) Employee Education % 1,960 3,200 1, % 1,894 - Emp Background Check % (715) 000% Payroll Processing % 851 1, % 1,135 - Help Wanted Advertising (110) 000% (410) 000% Payroll Taxes 1,305 2,786 1, % 26,559 33,432 6, % 30,917 - Worker's Compensation 970 1, % 12,101 12, % 12,341 - Insurance Benefits 1,948 2,950 1, % 29,856 35,400 5, % 39, k Matching % % Total Salary Expenses 26,164 32,689 6, % 389, ,718 1, % 440, % 000% Marketing Expenses 000% 000% - Maid Services % 72 1,560 1, % 0 - Mailers & Postage % (423) 000% Model Accessories % 204 1,400 1, % 1,307 - Office Hospitality (93) (9296%) 1,450 1,200 (250) (2082%) Outside Leasing Commissions 2, (2,184) (70689%) 13,131 4,017 (9,114) (22688%) 8,907 - Resident Referral % 1,800 2, % 2,100

10 Property: Holly Street LP End Date: 12/31/2011, Month SARES-REGIS Group Multifamily Property Management Division Cash Basis Statement of Operations Date: 12/30/2011 Time: 12:28:15 PM Prepared By: Stephanie Tan Page 3 of 7 P & L Standard Detail M MTD Actual MTD Budget MTD Var MTD % YTD Actual YTD Budget YTD Var YTD % YTD Prior Year - Printed Materials-Newsletters (176) 000% (219) (3648%) Printed Media - Ads 2,585 2, % 26,803 32,995 6, % 28,687 - Promotional Materials % (126) (2164%) Resident Functions % 78 1,200 1, % 79 - Resident Relations 1, (1,485) (49500%) 8,941 5,000 (3,941) (7881%) 13,556 - Shopping Reports % 820 1, % Stationary & Brochures (189) 000% ,605 10, % 7,705 - Total Marketing Expenses 7,421 4,180 (3,241) (7753%) 55,657 62,661 7, % 65, % 000% Taxes & Insurance 000% 000% - Real Property Taxes 72,963 75,238 2, % 891, ,006 2, % 897,084 - Personal Property Taxes % (113) 000% 0 - CFD Area Taxes A 37,997 37, % 455, , % 455,963 - CFD Area Taxes B % 12,760 12, % 12,760 - Insurance 12,587 12,587 (0) (000%) 151, ,858 (2) (000%) 156,414 - Property Tax Consulting % 0 2,244 2, % Total Taxes & Insurance 123, ,822 2, % 1,512,427 1,516,832 4, % 1,522, % 000% Turnover Costs 000% 000% - T/O Cleaning Contract 1,880 1,770 (110) (621%) 25,446 20,886 (4,560) (2183%) 21,321 - T/O Drapes & Blinds % 4,298 2,832 (1,466) (5175%) 2,541 - T/O Painting & Wall Coverings 9,312 6,000 (3,312) (5520%) 101,286 70,800 (30,486) (4306%) 68,792 - T/O Recovery (4,017) (4,043) (26) (064%) (60,025) (47,710) 12, % (51,236) - T/O Floor Covering CL & REP % 14,887 11,505 (3,382) (2939%) 13,555 - T/O Miscellaneous % (453) 000% Total Turnover Costs 7,845 4,942 (2,903) (5874%) 86,345 58,313 (28,032) (4807%) 55, % 000% Repairs & Maintenance 000% 000% - Apartment Renewal % (135) % 0 - Appliances (324) (9968%) 4,655 3,900 (755) (1937%) 2,882 - Cabinets/Closets % (20) (338%) 86 - Cleaning-Contract 21,400 5,226 (16,174) (30949%) 67,529 62,712 (4,817) (768%) 25,192 - Cleaning-Contract CAM % % 0 - Cleaning Supplies (219) (21872%) 7,604 1,200 (6,404) (53368%) 6,215 - Clubhouse & Rec Room % 871 7,500 6, % 5,672 - Common Area Expense 1, (1,151) (57562%) 2,129 2, % 3,167 - Communication Equipment % % Countertops (100) 000% % 60 - Electrical Service (75) (7500%) 1,230 1,200 (30) (250%) 2,282 - Electrical Supplies (502) (50229%) 3,512 1,200 (2,312) (19267%) 1,631 - Elevators & Escalators 1,400 2,700 1, % 20,035 32,400 12, % 27,834 - Exterior Building Structure % 637 2,780 2, % 0 - Exterior Lighting % % 284

11 Property: Holly Street LP End Date: 12/31/2011, Month SARES-REGIS Group Multifamily Property Management Division Cash Basis Statement of Operations Date: 12/30/2011 Time: 12:28:15 PM Prepared By: Stephanie Tan Page 4 of 7 P & L Standard Detail M MTD Actual MTD Budget MTD Var MTD % YTD Actual YTD Budget YTD Var YTD % YTD Prior Year - Exterminators 2, (1,624) (33348%) 8,212 9,844 1, % 9,689 - Fire Protection Supplies 23 0 (23) 000% 2,045 3, % 3,928 - General Maint Supplies % 7,885 6,180 (1,705) (2758%) 5,325 - HVAC Contract % 12,614 9,000 (3,614) (4015%) 7,719 - HVAC Supplies (114) (1908%) 11,973 7,200 (4,773) (6629%) 8,016 - Interior Building 6,454 2,400 (4,054) (16893%) 45,582 28,800 (16,782) (5827%) 31,250 - Keys & Locks (175) % 8,068 4,632 (3,436) (7417%) 7,771 - General Maintenance % 3,397 6,240 2, % 4,706 - Landscaping Contract 12,822 4,000 (8,822) (22055%) 52,422 48,000 (4,422) (921%) 39,480 - Landscaping Supplies % 710 2,400 1, % 4,813 - Landscaping-Irrigation % % Light Bulbs 1, (1,430) (57188%) 6,099 3,000 (3,099) (10329%) 3,768 - Painting & Wall Covering % 6,202 2,400 (3,802) (15844%) 5,192 - Painting-Exterior (240) (24000%) 782 1, % Plumbing Services (615) (30770%) 10,581 7,500 (3,081) (4108%) 16,061 - Plumbing Supplies 1, (1,146) (14323%) 17,655 9,600 (8,055) (8391%) 10,748 - Pools & Fountains % 6,281 5,700 (581) (1020%) 3,805 - Privacy Gates % 3,008 4,800 1, % 4,704 - Roof % (389) 000% 0 - Security Contract 4,300 4, % 59,616 53,400 (6,216) (1164%) 52,500 - Signs & Flagpoles % (62) (10352%) Small Tools % (585) 000% Uniforms % 572 2,500 1, % 2,194 - Walkways-Roads-Parking Lots % 0 3,000 3, % 2,425 - Window Cleaning Contract (213) 000% 2,114 0 (2,114) 000% 2,287 - Window Cleaning Supplies % 38 0 (38) 000% 0 - Miscellaneous % % Total Repairs & Maintenance 58,735 26,364 (32,371) (12278%) 376, ,638 (40,419) (1204%) 303, % 000% Utilities 000% 000% - Electricity 11,615 9,856 (1,759) (1784%) 134, ,272 (15,986) (1352%) 120,741 - Electricity-Vacant Units 1,847 1,178 (669) (5680%) 22,230 14,136 (8,094) (5726%) 14,063 - Gas 6,826 5,310 (1,516) (2856%) 63,108 63, % 61,013 - Water 1,969 6,425 4, % 83,139 75,475 (7,664) (1015%) 74,601 - Sewer 874 1, % 13,320 13,200 (120) (091%) 11,502 - Rubbish Removal 3,427 3, % 41,698 42, % 41,463 - Telephone 0 2,400 2, % 24,489 28,800 4, % 34,759 - Other 1,450 3,200 1, % 19,861 38,400 18, % 41,858 - Tenant Utility Reimbursement (14,349) (14,800) (451) (305%) (181,385) (174,912) 6, % (172,799) - Total Utilities 13,659 18,169 4, % 220, ,148 (1,570) (072%) 227, % 000% General & Administrative 000% 000% - Property Management Fees 26,288 24,783 (1,505) (607%) 303, ,113 (5,143) (173%) 300,472

12 Property: Holly Street LP End Date: 12/31/2011, Month SARES-REGIS Group Multifamily Property Management Division Cash Basis Statement of Operations Date: 12/30/2011 Time: 12:28:15 PM Prepared By: Stephanie Tan Page 5 of 7 P & L Standard Detail M MTD Actual MTD Budget MTD Var MTD % YTD Actual YTD Budget YTD Var YTD % YTD Prior Year - Legal Fees 2,914 1,500 (1,414) (9428%) 11,795 18,000 6, % 16,698 - Bank Charges % 7,337 6,300 (1,037) (1646%) 7,058 - Cable Television % 2,776 3, % 4,042 - Collection Agency Fee 2, (2,460) (201679%) 5,061 1,464 (3,597) (24567%) 1,819 - Computer Service Fees (196) (4091%) 8,783 8,647 (136) (157%) 5,637 - Courier & Postage (263) (10524%) 2,764 3, % 3,498 - Credit Checks % 3,530 5,700 2, % 5,211 - Dues & Subscriptions (470) 000% 5,826 2,531 (3,295) (13020%) 4,563 - Licenses & Permits (438) 975 1, % 31,490 26,900 (4,590) (1706%) 22,200 - Mileage Reimbursement (77) (7716%) 880 1, % 1,149 - Office Equipment Rental % 1,108 1, % 2,008 - Office Supplies (406) (8542%) 5,727 5,700 (27) (048%) 6,048 - Pager % % 78 - Other % 2,466 0 (2,466) 000% Total Gen & Admin 34,300 29,945 (4,355) (1454%) 392, ,675 (9,124) (238%) 381, % 000% - Total Operating Expenses 271, ,111 (29,561) (1221%) 3,033,116 2,966,985 (66,131) (223%) 2,997, % 000% NOI Before Debt Service (399,672) (375,059) 24, % (4,503,292) (4,446,058) 57, % (4,459,437) 000% 000% Debt Service 000% 000% - Interest-First Trust Deed (5,826) 28,263 34, % 66, , , % 88,913 - Interest-Second Trust Deed 32,142 32, % 385, , % 385,700 - Letter of Credit Fees 19,792 20, % 240, , % 241,547 - Bond Administration Fees 6,480 6,480 (0) (000%) 78,809 78,805 (4) (000%) 85,498 - Total Debt Service 52,588 87,336 34, % 771,835 1,045, , % 801, % 000% NOI After Debt Service (347,084) (287,723) 59, % (3,731,457) (3,400,940) 330, % (3,657,779) 000% 000% Capital Repairs & Replacements 000% 000% - Appliances 3,693 2,000 (1,693) (8466%) 51,345 41,500 (9,845) (2372%) 52,522 - Balconies % 3,200 3,000 (200) (667%) 4,500 - Building Lighting % 3,075 12,105 9, % 13,003 - Cabinets/Closets % 1,004 1,000 (4) (045%) 1,063 - Concrete Repair % 0 1,000 1, % 4,570 - Countertops % 1,225 3,000 1, % 0 - Doors % 5,763 2,890 (2,873) (9943%) 2,890 - Drapery & Blinds % (331) 000% 0 - Electrical % 1,635 0 (1,635) 000% 2,157 - Elevators & Escalators % 10,920 5,600 (5,320) (9500%) 0 - Fire Protection 3,900 0 (3,900) 000% 7,236 6,500 (736) (1132%) 9,949 - Floor Coverings 0 5,000 5, % 88,390 60,000 (28,390) (4732%) 50,458 - HVAC (48,795) 3,675 52, % 15,950 64,070 48, % 32,224

13 Property: Holly Street LP End Date: 12/31/2011, Month SARES-REGIS Group Multifamily Property Management Division Cash Basis Statement of Operations Date: 12/30/2011 Time: 12:28:15 PM Prepared By: Stephanie Tan Page 6 of 7 P & L Standard Detail M MTD Actual MTD Budget MTD Var MTD % YTD Actual YTD Budget YTD Var YTD % YTD Prior Year - Interior Building % 4,932 0 (4,932) 000% (739) - Interior Design % 2,984 2,400 (584) (2433%) 7,762 - Keys & Locks % 2,170 0 (2,170) 000% 0 - Landscaping % 14,529 18,564 4, % 21,658 - Leasing Office % 0 6,300 6, % 0 - Office Equipment % 6,296 0 (6,296) 000% 0 - Painting-Exterior 3,620 0 (3,620) 000% 6,535 8,350 1, % Painting-Interior % 7,762 2,675 (5,087) (19015%) 15,309 - Plumbing % 13,387 15,000 1, % 23,714 - Pool Furniture % 0 1,700 1, % 0 - Pools & Fountains % 2,810 3, % 3,497 - Privacy Gates % 10,779 2,000 (8,779) (43893%) 1,578 - Roof % 100 3,600 3, % 4,490 - Signs & Flags % (631) 000% 0 - Site Lighting % 0 1,075 1, % 0 - Stairs & Landings % % 0 - Windows % (371) 000% 0 - Misc Capital Improvements % 42,426 2,700 (39,726) (147132%) 51,222 - Total Capital Repairs & Replacements (37,582) 10,675 48, % 305, ,979 (36,807) (1368%) 302, % 000% - Net Oper (Income)/Loss (384,666) (277,048) 107, % (3,425,672) (3,131,961) 293, % (3,355,012) 000% 000% Major Capital Improvements 000% 000% 000% 000% Non-Operating (Income)/Expense 000% 000% - Interest Income (232) (300) (68) (2265%) (80,193) (80,600) (407) (051%) (81,341) - Fire-Sue & Labor % % (150) - Office % % 0 - Legal % 55,384 0 (55,384) 000% 0 - Partnership Legal % % 21,850 - Total Non-Operating (Income)/Expense (232) (300) (68) (2265%) (24,808) (80,600) (55,792) (6922%) (59,641) - Total Distributable (Cashflow)/Deficit (384,898) (277,348) 107, % (3,450,480) (3,212,561) 237, % (3,414,653) 000% 000% (Contributions)/Distributions 000% 000% - Contribution-Owners (19,022) 0 19, % (100,947) 0 100, % (182,214) - Distribution-Owners 662,849 0 (662,849) 000% 3,575,918 0 (3,575,918) 000% 3,291,428 Total (Contributions)/Distributions 643,827 0 (643,827) 000% 3,474,972 0 (3,474,972) 000% 3,109, % 000% Net After Distributions 258,929 (277,348) (536,277) (19336%) 24,491 (3,212,561) (3,237,052) (10076%) (305,439) 000% 000% Other (Sources) & Uses 000% 000%

14 Property: Holly Street LP End Date: 12/31/2011, Month SARES-REGIS Group Multifamily Property Management Division Cash Basis Statement of Operations Date: 12/30/2011 Time: 12:28:15 PM Prepared By: Stephanie Tan Page 7 of 7 P & L Standard Detail M MTD Actual MTD Budget MTD Var MTD % YTD Actual YTD Budget YTD Var YTD % YTD Prior Year - Security Deposit (Net) (1,646) 0 1, % (7,280) 0 7, % (30,777) - Accounts Payable (28,456) 0 28, % (32,615) 0 32, % (10,408) - Tax Impounds (344,220) (338,193) 6, % 19,724 1 (19,723) ( %) 36,369 - Cap Fee Impound (354,875) 8, , % (261,050) 102, , % 102,370 - Bond Fee Impound (1,975) (2,150) (175) (813%) 34,318 (610) (34,928) (572593%) 42,776 - Accrued Property Taxes 338, ,193 (1) (000%) % (9,950) - Accrued Insurance (12,587) (12,587) 0 000% (813) (814) (1) (011%) (487) - Rehabilitation Costs 60,632 13,665 (46,967) (34370%) 151, ,980 12, % 176,142 - Other Balance Sheet Changes 40,633 0 (40,633) 000% (20,334) 0 20, % (31,049) Total Other (Sources) & Uses (304,301) 7, , % (116,122) 264, , % 274, % 000% (Increase)/Decrease in Cash Position (45,372) (269,890) (224,518) (8319%) (91,631) (2,947,644) (2,856,013) (9689%) (30,454) 000% 000%

15 Property: Holly Street LP the Year Ending: 2011, For SARES-REGIS Group Multi Family Property Management Division 12 Month Cash Basis Operating Summary Date: 12/30/2011 Time: 12:20:55 PM Prepared By: Stephanie Tan Page 1 of 2 Economic Occupancy Physical Occupancy Operating Income Rental Income Apartment Rent - Gross Potential Rent - Retail Space Rent - Loss to Lease - Total Apartment Rent Allowances/Vacancies - Model Allowances - Employee Allowances - Vacancies - Vacancies - Retail Total Allowances/Vacancies - Net Rental Income Other Rental Income - Upgrade Unit Rent - MTM/Short Term Rent - Total Other Rental Income - Total Other Income - Total Bad Debt Write Off - Total Operating Income Operating Expenses - Salary Expense - Marketing Expense - Taxes & Insurance - Turnover Costs - Repairs & Maintenance - Utilities - General & Administrative - Total Operating Expenses NOI Before Debt Service Debt Service - Interest-First Trust Deed Metrics January February March April May June July August September October November December Total Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual 930% 921% 918% 909% 912% 926% 911% 929% 925% 926% 933% 936% 11076% 953% 938% 938% 936% 931% 944% 933% 951% 948% 948% 956% 957% 11333% (642,011) (631,783) (654,208) (636,681) (642,772) (658,824) (644,519) (625,168) (629,260) (637,446) (648,295) (666,678) (7,717,644) (18,855) (18,855) (18,855) (18,855) (18,122) (11,587) (20,847) (17,600) (18,268) (19,642) (19,322) (18,418) (219,227) 4,980 (6,131) 19,520 2,998 4,439 17,170 1,669 (18,802) (13,758) (4,064) 7,479 22,947 38,445 (655,886) (656,769) (653,543) (652,538) (656,455) (653,241) (663,697) (661,570) (661,286) (661,152) (660,138) (662,149) (7,898,426) 3,725 3,725 3,725 3,725 3,725 3,725 3,725 3,725 3,725 3,725 3,725 3,725 44,700 6,669 2,099 4,384 8,623 4,491 6,198 6,198 6,598 6,766 6,598 6,598 6,275 71,498 30,654 41,009 40,227 41,998 45,372 36,675 44,578 32,445 34,501 34,192 29,211 28, ,060 5,125 5,125 5,125 5,125 4,392 1,460 4,392 4,392 4,392 4,392 4,392 4,392 52,704 46,173 51,958 53,461 59,472 57,980 48,058 58,893 47,160 49,384 48,907 43,926 42, ,962 (609,713) (604,811) (600,082) (593,066) (598,475) (605,183) (604,804) (614,410) (611,903) (612,246) (616,212) (619,559) (7,290,463) (425) (425) (425) (425) (308) (300) (300) (280) (175) (23) 0 0 (3,085) 0 (2,294) (2,294) (425) (2,719) (425) (425) (308) (300) (300) (280) (175) (23) 0 0 (5,379) (13,385) (22,895) (13,742) (27,207) (34,404) (24,167) (26,522) (24,446) (23,200) (12,273) (14,097) (25,102) (261,439) (2,941) 3,519 (6,194) (8,846) 32,885 (16,801) 22,059 13,342 10,534 (3,015) 3,017 (26,683) 20, (626,464) (626,906) (620,443) (629,544) (600,302) (646,451) (609,567) (625,794) (624,744) (627,557) (627,293) (671,344) (7,536,408) 36,006 34,104 34,754 31,411 28,301 32,807 33,543 32,553 35,669 32,418 31,383 26, ,113 3,573 5,530 6,646 4,653 5,136 4,471 2,926 4,249 4,706 2,026 4,321 7,421 55, , , , , , , , , , , , ,547 1,512,427 1,980 3,944 12, ,173 6,817 13,024 4,592 17,336 6,368 5,653 7,845 86,345 42,602 14,137 32,791 35,650 30,126 24,857 32,214 24,995 34,005 23,493 22,450 58, ,057 19,491 12,766 16,961 17,113 28,448 14,065 9,245 38,310 21,212 11,663 17,786 13, ,718 32,485 40,015 31,895 48,503 30,046 32,601 8,650 30,327 33,235 25,114 45,629 34, , , , , , , , , , , , , ,672 3,033,116 (365,573) (391,657) (360,264) (368,038) (347,614) (395,455) (384,143) (364,947) (352,759) (398,923) (374,249) (399,672) (4,503,292) 9,106 17,236 (2,249) 9,125 5,083 4,953 4,655 1,338 5,315 8,075 9,719 (5,826) 66,529

16 Property: Holly Street LP the Year Ending: 2011, For SARES-REGIS Group Multi Family Property Management Division 12 Month Cash Basis Operating Summary Date: 12/30/2011 Time: 12:20:55 PM Prepared By: Stephanie Tan Page 2 of 2 Metrics - Interest-Second Trust Deed - Letter of Credit Fees - Bond Administration Fees - Total Debt Service - NOI After Debt Service - Capital Repair & Replacement - Non-Operating (Income)/Expense - Total Distributable (Cashflow)/Deficit (Contributions)/Distributions - Owners Contributions - Owners Distributions Total (Contributions)/Distributions Net After Distribution Other (Sources) & Uses (Increase)/Decrease in Cash Position January February March April May June July August September October November December Total Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual 32,142 32,142 32,142 32,142 32,142 32,142 32,142 32,142 32,142 32,142 32,142 32, ,700 20,451 20,451 18,472 20,451 19,792 20,451 19,792 20,451 20,451 19,792 20,451 19, ,797 6,689 6,689 6,062 6,689 6,480 6,689 6,480 6,689 6,689 6,480 6,689 6,480 78,809 68,388 76,518 54,427 68,407 63,496 64,235 63,069 60,620 64,597 66,488 69,001 52, ,835 (297,185) (315,138) (305,837) (299,631) (284,118) (331,221) (321,074) (304,327) (288,161) (332,435) (305,247) (347,084) (3,731,457) (4,672) 50,300 15,729 53,062 46,236 37,592 25,002 12,688 25,533 66,496 15,402 (37,582) 305, (4) (63) (28) (158) (36,484) 43,480 (168) (727) (30,990) (189) (232) (24,808) (301,102) (264,842) (290,171) (246,598) (238,039) (330,113) (252,592) (291,806) (263,355) (296,929) (290,034) (384,898) (3,450,480) 0 (12,713) (31,888) (12,611) 0 (24,712) 0 0 (19,022) (100,947) 283, , , , , , , , , , , ,849 3,575, , , , , , , , , , , , ,827 3,474,972 (17,430) (34,546) (7,476) (35,496) (10,466) (67,001) (21,203) 33,495 (43,068) (29,929) (1,317) 258,929 24,491 (923) 11, ,304 1,595 (13,510) 58,642 (4,746) (8,703) (47,634) 49,694 (18,589) (304,301) (116,122) (18,354) (23,497) 153,827 (33,901) (23,976) (8,359) (25,949) 24,791 (90,702) 19,765 (19,906) (45,372) (91,631)

17 Property: Holly Street LP the Year Ending: 2011, For SARES-REGIS Group Multi Family Property Management Division 12 Month Cash Basis Operating Statement Date: 12/30/2011 Time: 12:21:52 PM Prepared By: Stephanie Tan Page 1 of 5 Economic Occupancy Physical Occupancy Operating Income Rental Income Apartment Rent - Gross Potential Rent - Retail Space Rent - Loss to Lease - Total Apartment Rent Allowances/Vacancies - Employee Allowances - Model Allowances - Vacancies - Vacancies - Retail - Total Allow/Vacancies - Net Rental Income Other Rental Income - Upgrade Unit Rent - MTM/Short Term Rent - Total Other Rental Income Other Income - Retained/Refunded Deposit - NSF-Late Charges - Ancillary Income - Vending Machines - Garage Parking/Storage - Laundry Income - Retail Space CAM - Miscellaneous Income - Rental Fees - Pet Fees - Renter's Ins Comm - Total Other Income Bad Debt Write Off - Prepaid Rent - Bad Debt-Delinquent Balance - Write Off Turnover Costs - Write Off Legal Fees - Write Off Utilities - Write Off Rent - Write Off Term/Insuf Notice - Write Off Other - Bad Debt Recovery - Total Bad Debt Write Off Metrics January February March April May June July August September October November December Total Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual 930% 921% 918% 909% 912% 926% 911% 929% 925% 926% 933% 936% 11076% 953% 938% 938% 936% 931% 944% 933% 951% 948% 948% 956% 957% 11333% (642,011) (631,783) (654,208) (636,681) (642,772) (658,824) (644,519) (625,168) (629,260) (637,446) (648,295) (666,678) (7,717,644) (18,855) (18,855) (18,855) (18,855) (18,122) (11,587) (20,847) (17,600) (18,268) (19,642) (19,322) (18,418) (219,227) 4,980 (6,131) 19,520 2,998 4,439 17,170 1,669 (18,802) (13,758) (4,064) 7,479 22,947 38,445 (655,886) (656,769) (653,543) (652,538) (656,455) (653,241) (663,697) (661,570) (661,286) (661,152) (660,138) (662,149) (7,898,426) 6,669 2,099 4,384 8,623 4,491 6,198 6,198 6,598 6,766 6,598 6,598 6,275 71,498 3,725 3,725 3,725 3,725 3,725 3,725 3,725 3,725 3,725 3,725 3,725 3,725 44,700 30,654 41,009 40,227 41,998 45,372 36,675 44,578 32,445 34,501 34,192 29,211 28, ,060 5,125 5,125 5,125 5,125 4,392 1,460 4,392 4,392 4,392 4,392 4,392 4,392 52,704 46,173 51,958 53,461 59,472 57,980 48,058 58,893 47,160 49,384 48,907 43,926 42, ,962 (609,713) (604,811) (600,082) (593,066) (598,475) (605,183) (604,804) (614,410) (611,903) (612,246) (616,212) (619,559) (7,290,463) (425) (425) (425) (425) (308) (300) (300) (280) (175) (23) 0 0 (3,085) 0 (2,294) (2,294) (425) (2,719) (425) (425) (308) (300) (300) (280) (175) (23) 0 0 (5,379) (554) (3,611) (1,899) (9,515) (17,333) (10,406) (10,566) (8,860) (7,949) (169) (938) (9,649) (81,449) (1,772) (5,677) (713) 646 (481) (2,008) (2,054) (3,755) (2,003) (1,185) (1,863) (1,824) (22,691) (1,028) (1,028) (1,028) (1,028) (1,028) (1,028) (1,028) (1,028) (1,028) (1,028) (1,028) (1,028) (12,336) (89) (91) 0 0 (176) 0 (356) (3,680) (4,333) (3,263) (7,947) (8,144) (4,343) (2,779) (2,600) (4,924) (2,945) (2,659) (6,198) (53,814) (185) (196) (196) (189) (766) (4,003) (4,003) (4,003) (4,003) (4,003) (4,003) (4,003) (4,003) (4,003) (4,003) (4,003) (4,003) (48,031) 0 (657) (300) (2,592) 90 0 (2,841) (96) (350) (140) 0 0 (6,886) (350) (875) (675) (840) (1,190) (705) (1,400) (1,960) (1,225) (705) (630) (150) (10,705) (1,725) (1,709) (1,862) (1,929) (1,810) (1,674) (1,851) (2,053) (1,718) (1,902) (2,099) (2,061) (22,394) 0 (1,002) 0 0 (505) (505) 0 (2,012) (13,385) (22,895) (13,742) (27,207) (34,404) (24,167) (26,522) (24,446) (23,200) (12,273) (14,097) (25,102) (261,439) (3,370) 2,185 (8,489) (4,696) 14,998 (23,232) 5,707 4,792 (4,035) 6,764 1,846 (12,468) (19,998) 365 (1,468) (1,707) (9,090) 7,094 3,567 2,205 6,149 7,399 (11,002) 506 (8,444) (4,427) (46) (81) (777) (61) (31) 2, ,049 (771) , (10) 0 (126) 89 1,691 2,285 3,453 3,583 (1,124) 488 3,370 3,275 (198) 3, (1,751) 18, (383) (200) 8,538 2,382 8,608 (109) 6,708 (1,855) 213 (3,863) 20, , (30) 0 (25) 0 0 2,834 (1,581) (60) (329) (204) 1, (590) (287) (2,021) (2,941) 3,519 (6,194) (8,846) 32,885 (16,801) 22,059 13,342 10,534 (3,015) 3,017 (26,683) 20,

18 Property: Holly Street LP the Year Ending: 2011, For SARES-REGIS Group Multi Family Property Management Division 12 Month Cash Basis Operating Statement Date: 12/30/2011 Time: 12:21:52 PM Prepared By: Stephanie Tan Page 2 of 5 - Total Operating Income Operating Expenses Salary Expenses - Resident Manager - Assistant Manager - Bookkeeper - Marketing Manager - Leasing Consultant - Maintenance Supervisor - Maintenance Mechanic - Custodian - Bonus & Incentives - Temporary Help - Employee Relations - Employee Education - Emp Background Check - Payroll Processing - Help Wanted Advertising - Payroll Taxes - Worker's Compensation - Insurance Benefits - Total Salary Expenses Marketing Expenses - Maid Services - Mailers & Postage - Model Accessories - Office Hospitality - Outside Leasing Commissions - Resident Referral - Printed Materials-Newsletters - Printed Media - Ads - Promotional Materials - Resident Functions - Resident Relations - Shopping Reports - Stationary & Brochures - Total Marketing Expenses Taxes & Insurance - Real Property Taxes - Personal Property Taxes - CFD Area Taxes A - CFD Area Taxes B - Insurance - Total Taxes & Insurance Turnover Costs - T/O Cleaning Contract - T/O Drapes & Blinds - T/O Painting & Wall Coverings Metrics January February March April May June July August September October November December Total Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual (626,464) (626,906) (620,443) (629,544) (600,302) (646,451) (609,567) (625,794) (624,744) (627,557) (627,293) (671,344) (7,536,408) 4,307 4,371 4,371 4,371 4,371 4,371 4,371 4,371 4,371 4,371 4,371 4,371 52, ,616 4,851 4,433 2,936 14,880 3,221 2,920 2,813 3,260 2,798 3,149 3,336 2,900 3,291 1, ,951 4,189 3,919 3,922 3, ,795 2, ,397 4,594 4,657 4,337 4,623 4,250 4,617 2,553 1,874 1,599 1,359 2, ,575 5,338 4, ,055 4,337 4,824 5,668 4,205 4,733 4,459 4,459 3,988 49,550 2,599 2,702 3,098 2,838 2,319 3,690 3,456 3,475 5,192 5,583 4,616 4,995 44,562 2,080 1,915 1,950 2,266 1,788 1,873 2, ,940 1,850 1,625 7,341 1,425 2,900 3,200 3,325 2,625 2,175 2,875 3,550 1,000 33, ,035 3,846 3,099 2,377 1,677 4,488 19, , , ,175 3,764 2,841 2,101 1,708 1,933 1,879 1,931 2,267 1,873 1,782 1,305 26,559 1, ,134 1,247 1, ,101 2,708 2,708 2,541 2,819 2,850 3,044 2,452 2,447 2,245 2,043 2,053 1,948 29,856 36,006 34,104 34,754 31,411 28,301 32,807 33,543 32,553 35,669 32,418 31,383 26, , , , ,242 1, , ,493 13, , ,431 2,410 2,372 2,043 2,267 2,478 1,855 2,332 2, ,125 2,585 26, ,512 2, ,785 8, ,573 5,530 6,646 4,653 5,136 4,471 2,926 4,249 4,706 2,026 4,321 7,421 55,657 73,763 73,763 73,763 73,763 73,763 73,763 75,238 75,238 75,238 75,238 75,238 72, , ,997 37,997 37,997 37,997 37,997 37,997 37,997 37,997 37,997 37,997 37,997 37, , , , ,760 12,994 12,994 12,994 12,180 12,587 12,587 12,587 12,587 12,587 12,587 12,587 12, , , , , , , , , , , , , ,547 1,512,427 2,970 1,717 2,467 2,362 2,240 1,485 2,967 1,040 3,675 1,090 1,555 1,880 25, , ,298 1,207 4,835 11,617 3,567 6,883 9,470 15,079 5,010 20,603 7,509 6,195 9, ,286

19 Property: Holly Street LP the Year Ending: 2011, For SARES-REGIS Group Multi Family Property Management Division 12 Month Cash Basis Operating Statement Date: 12/30/2011 Time: 12:21:52 PM Prepared By: Stephanie Tan Page 3 of 5 - T/O Recovery - T/O Floor Covering CL & REP - T/O Miscellaneous - Total Turnover Costs Repairs & Maintenance - Apartment Renewal - Appliances - Cabinets/Closets - Cleaning-Contract - Cleaning-Contract CAM - Cleaning Supplies - Clubhouse & Rec Room - Common Area Expense - Communication Equipment - Countertops - Electrical Service - Electrical Supplies - Elevators & Escalators - Exterior Building Structure - Exterior Lighting - Exterminators - Fire Protection Supplies - General Maint Supplies - HVAC Contract - HVAC Supplies - Interior Building - Keys & Locks - General Maintenance - Landscaping Contract - Landscaping Supplies - Light Bulbs - Painting & Wall Covering - Painting-Exterior - Plumbing Services - Plumbing Supplies - Pools & Fountains - Privacy Gates - Roof - Security Contract - Signs & Flagpoles - Small Tools - Uniforms - Window Cleaning Contract - Window Cleaning Supplies - Total Repairs & Maintenance Utilities - Electricity - Electricity-Vacant Units - Gas - Water - Sewer Metrics January February March April May June July August September October November December Total Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual (2,644) (6,175) (3,763) (5,916) (4,135) (5,757) (7,268) (4,804) (8,267) (4,345) (2,935) (4,017) (60,025) 447 3,567 2, ,494 2, , , ,980 3,944 12, ,173 6,817 13,024 4,592 17,336 6,368 5,653 7,845 86,345 (135) (135) , ,400 5,400 5,400 6,870 5, ,327 5,226 6,098 5,858 (4,676) 21,400 67, , , , ,351 2, ,024 (687) , ,512 4,728 (1,600) 1,550 6,840 (1,600) 1,200 1,200 1,200 2,310 1,301 1,506 1,400 20, , , ,111 8, , ,173 (32) 369 1,281 1, , , ,176 (1,477) 1,585 1, , , , ,202 2,226 1, ,137 2, ,973 4,485 2,795 2,433 3,166 3,086 2,199 3,857 4,026 4,544 3,624 4,913 6,454 45,582 1,277 1, , , (175) 8, ,397 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 3, ,822 52,422 3,165 (3,165) ,680 6, , , , , , , , ,394 1, ,781 2, ,769 1,313 1,213 1,946 17, ,600 (912) , , , , , ,802 4,340 8,961 4,350 4,420 4,500 4,500 (160) 8,550 4,300 59, , ,602 14,137 32,791 35,650 30,126 24,857 32,214 24,995 34,005 23,493 22,450 58, ,057 9,474 9,928 9,856 9,529 14,947 12,095 12,091 12,661 11,833 12,466 7,763 11, ,258 1,465 2,851 2,400 1,349 1,137 1,475 1,750 2,068 1,805 2,319 1,764 1,847 22,230 4,370 4,791 6,466 6,483 8,809 4,562 5,704 2,783 3,789 3,800 4,724 6,826 63,108 6,315 4,309 6,190 8,537 10,879 6,937 (1,936) 22,049 4,376 3,261 10,254 1,969 83,139 1, , (288) 3, , ,320

20 Property: Holly Street LP the Year Ending: 2011, For SARES-REGIS Group Multi Family Property Management Division 12 Month Cash Basis Operating Statement Date: 12/30/2011 Time: 12:21:52 PM Prepared By: Stephanie Tan Page 4 of 5 - Rubbish Removal - Telephone - Other - Tenant Utility Reimbursement - Total Utilities General & Administrative - Property Management Fees - Legal Fees - Bank Charges - Cable Television - Collection Agency Fee - Computer Service Fees - Courier & Postage - Credit Checks - Dues & Subscriptions - Licenses & Permits - Mileage Reimbursement - Office Equipment Rental - Office Supplies - Other - Total Gen & Admin - Total Operating Expenses NOI Before Debt Service Debt Service - Interest-First Trust Deed - Interest-Second Trust Deed - Letter of Credit Fees - Bond Administration Fees - Total Debt Service NOI After Debt Service Capital Repairs & Replacements - Appliances - Balconies - Building Lighting - Cabinets/Closets - Countertops - Doors - Drapery & Blinds - Electrical - Elevators & Escalators - Fire Protection - Floor Coverings - HVAC - Interior Building - Interior Design - Keys & Locks - Landscaping Metrics January February March April May June July August September October November December Total Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual 3,608 3,427 3,427 3,427 2,105 3,852 3,609 4,106 3,852 3,427 3,427 3,427 41,698 2,119 2,435 1,173 3,485 3, , ,304 (438) 1, ,489 4,663 1,226 1,243 1,711 1,479 1,557 1,494 (15) 1, ,105 1,450 19,861 (13,568) (16,742) (14,743) (18,359) (17,052) (17,857) (15,323) (9,657) (12,906) (14,046) (16,783) (14,349) (181,385) 19,491 12,766 16,961 17,113 28,448 14,065 9,245 38,310 21,212 11,663 17,786 13, ,718 25,120 25,344 24,643 25,302 24,657 25,307 25,307 25,242 24,901 23,747 27,398 26, , ,305 2,380 19, (19,692) 771 2,095 (830) 150 2,914 11,795 1,136 1, , , , , ,582 5, , , , , , , , , ,826 3,054 5,083 1,350 1, ,425 1,425 1,650 2, ,492 (438) 31, ,108 2,472 (1,310) , , ,466 32,485 40,015 31,895 48,503 30,046 32,601 8,650 30,327 33,235 25,114 45,629 34, , , , , , , , , , , , , ,672 3,033,116 (365,573) (391,657) (360,264) (368,038) (347,614) (395,455) (384,143) (364,947) (352,759) (398,923) (374,249) (399,672) (4,503,292) 9,106 17,236 (2,249) 9,125 5,083 4,953 4,655 1,338 5,315 8,075 9,719 (5,826) 66,529 32,142 32,142 32,142 32,142 32,142 32,142 32,142 32,142 32,142 32,142 32,142 32, ,700 20,451 20,451 18,472 20,451 19,792 20,451 19,792 20,451 20,451 19,792 20,451 19, ,797 6,689 6,689 6,062 6,689 6,480 6,689 6,480 6,689 6,689 6,480 6,689 6,480 78,809 68,388 76,518 54,427 68,407 63,496 64,235 63,069 60,620 64,597 66,488 69,001 52, ,835 (297,185) (315,138) (305,837) (299,631) (284,118) (331,221) (321,074) (304,327) (288,161) (332,435) (305,247) (347,084) (3,731,457) 1,922 9, ,788 7,183 6,167 2,599 1,738 1,094 6,385 2,768 3,693 51, , , , , , , , , , , , , , , , , , ,298 3,900 7,236 1,119 7,804 4,206 15,258 11,513 10,499 8,224 4,620 9,434 15, ,390 4,000 6,841 2,000 16,945 4,680 5, ,812 13,615 2,640 3,968 (48,795) 15, , , , , , ,170 (13,835) 17, ,040 1,860 2, ,529

21 Property: Holly Street LP the Year Ending: 2011, For SARES-REGIS Group Multi Family Property Management Division 12 Month Cash Basis Operating Statement Date: 12/30/2011 Time: 12:21:52 PM Prepared By: Stephanie Tan Page 5 of 5 Metrics - Office Equipment - Painting-Exterior - Painting-Interior - Plumbing - Pools & Fountains - Privacy Gates - Roof - Signs & Flags - Windows - Misc Capital Improvements - Total Capital Repairs & Replacements - Net Oper (Income)/Loss Major Capital Improvements Non-Operating (Income)/Expense - Interest Income - Office - Legal - Total Non-Operating (Income)/Expense - Total Distributable (Cashflow)/Deficit (Contributions)/Distributions - Contribution-Owners - Distribution-Owners Total (Contributions)/Distributions Net After Distributions Other (Sources) & Uses - Security Deposit (Net) - Accounts Payable - Tax Impounds - Cap Fee Impound - Bond Fee Impound - Accrued Property Taxes - Accrued Insurance - Rehabilitation Costs - Other Balance Sheet Changes Total Other (Sources) & Uses (Increase)/Decrease in Cash Position January February March April May June July August September October November December Total Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual 3, , , , , ,620 6, , , , , ,831 1, , ,997 1, , , , ,200 7, , ,779 (2,500) , , , ,426 (4,672) 50,300 15,729 53,062 46,236 37,592 25,002 12,688 25,533 66,496 15,402 (37,582) 305,786 (301,857) (264,839) (290,108) (246,569) (237,882) (293,629) (296,072) (291,638) (262,628) (265,939) (289,845) (384,666) (3,425,672) (191) (189) (188) (153) (158) (40,044) (186) (168) (197) (38,298) (189) (232) (80,193) (530) ,560 43, , , (4) (63) (28) (158) (36,484) 43,480 (168) (727) (30,990) (189) (232) (24,808) (301,102) (264,842) (290,171) (246,598) (238,039) (330,113) (252,592) (291,806) (263,355) (296,929) (290,034) (384,898) (3,450,480) 0 (12,713) (31,888) (12,611) 0 (24,712) 0 0 (19,022) (100,947) 283, , , , , , , , , , , ,849 3,575, , , , , , , , , , , , ,827 3,474,972 (17,430) (34,546) (7,476) (35,496) (10,466) (67,001) (21,203) 33,495 (43,068) (29,929) (1,317) 258,929 24,491 1,596 6,394 1,785 4,391 2,632 (1,489) 1,358 (7,135) (4,942) (2,901) (7,323) (1,646) (7,280) 17,685 9, (14,073) 1,728 5,309 (28,489) (1,764) 5, (28,456) (32,615) 111, , ,095 (330,593) 111,095 (88,024) 105, , ,709 (85,888) 105,709 (344,220) 19,724 8,530 8,530 8,530 8,530 8,530 8,530 8,530 8,530 8,530 8,530 8,530 (354,875) (261,050) 6,689 6,689 3,942 6,689 6,480 6,689 (18,886) 6,689 (1,859) 6,480 6,689 (1,975) 34,318 (110,870) (111,760) (111,760) 182,403 (37,997) 189,984 (113,235) (113,235) (113,235) 114,746 (113,235) 338,194 (0) (12,994) (12,994) 138,053 (12,180) (12,587) (12,587) (12,587) (12,587) (12,587) (12,587) (12,587) (12,587) (813) ,349 3,298 2,781 34,400 1,318 11,145 1,165 22, , ,928 (23,271) (6,737) (5,092) 138,912 (80,371) (80,589) 17,740 20,671 (28,650) (6,677) (6,903) 40,633 (20,334) (923) 11, ,304 1,595 (13,510) 58,642 (4,746) (8,703) (47,634) 49,694 (18,589) (304,301) (116,122) (18,354) (23,497) 153,827 (33,901) (23,976) (8,359) (25,949) 24,791 (90,702) 19,765 (19,906) (45,372) (91,631)

22 Property:, Holly Street LP the Month Ending: 12/31/2011, For SARES-REGIS Group Multifamily Property Management Division GAAP Disposition Detail Date: 12/30/2011 Time: 12:20:30 PM Prepared By: Stephanie Tan Page 1 of 9 P & L GAAP Disposition Detail Operating Income Rental Income Apartment Rent - Gross Potential Rent - Loss to Lease - Total Apartment Rent Other Rental Income - Retail Space Rent - Upgrade Unit Rent - Employee Allowances - Model Allowances - Vacancies - Vacancies - Retail - MTM/Short Term Rent - Total Other Rental Income Other Income - Retained/Refunded Deposit - NSF-Late Charges - Ancillary Income - Vending Machines - Garage Parking/Storage - Laundry Income - Retail Space CAM - Miscellaneous Income - Rental Fees - Renter's Insurance Commission Metrics -Month Actual -Month Budget Variance % Year-To-Date Actual Year-To-Date Budget Variance % Year-To-Date Prior Year (666,678) (619,595) 47,083 (760%) (7,717,644) (7,450,477) 267,167 (359%) (7,567,980) 22,947 (15,731) (38,678) 24587% 38,445 (170,588) (209,033) 12254% (148,766) (643,730) (635,326) 8,404 (132%) (7,679,199) (7,621,065) 58,134 (076%) (7,716,746) (18,418) (18,418) 0 (000%) (219,227) (218,913) 314 (014%) (244,833) (3,085) 0 3,085 (1,524) 6,275 6, (208%) 71,498 76,908 5,410 (703%) 78,513 3,725 3, % 44,700 44,610 (90) 020% 44,609 28,198 38,120 9,922 (2603%) 439, ,237 (823) 019% 436,578 4,392 4, % 52,704 52, % 131, (2,294) 0 2, ,172 34,228 10,056 (2938%) 383, ,546 10,190 (259%) 445,112 (9,649) (5,100) 4,549 (8920%) (81,449) (61,200) 20,249 (3309%) (58,462) (1,824) (2,000) (176) 881% (22,691) (24,000) (1,309) 546% (25,363) (1,028) (1,028) 0 000% (12,336) (12,336) 0 000% (12,336) (356) (520) (164) 3154% (583) (6,198) (3,475) 2,723 (7836%) (53,814) (41,700) 12,114 (2905%) (42,930) (189) (67) 122 (18243%) (766) (804) (38) 470% (1,072) (4,003) (4,002) 1 (001%) (48,031) (48,024) 7 (001%) (34,644) 0 (400) (400) 10000% (6,886) (4,800) 2,086 (4345%) (4,783) (150) (900) (750) 8333% (10,705) (10,800) (95) 088% (11,295) (2,012) (3,140) (1,128) 3593% (2,066)

23 Property:, Holly Street LP the Month Ending: 12/31/2011, For SARES-REGIS Group Multifamily Property Management Division GAAP Disposition Detail Date: 12/30/2011 Time: 12:20:30 PM Prepared By: Stephanie Tan Page 2 of 9 P & L GAAP Disposition Detail - Pet Fees - Total Other Income - Total Operating Income Operating Expenses Salary Expenses - Resident Manager - Assistant Manager - Bookkeeper - Marketing Manager - Leasing Consultant - Maintenance Supervisor - Maintenance Mechanic - Custodian - Bonus & Incentives - Temporary Help - Employee Relations - Employee Education - Emp Background Check - Payroll Processing - Help Wanted Advertising - Payroll Taxes - Worker's Compensation - Insurance Benefits - 401k Matching - Total Salary Expenses Marketing Expenses Metrics -Month Actual -Month Budget Variance % Year-To-Date Actual Year-To-Date Budget Variance % Year-To-Date Prior Year (2,061) (1,500) 561 (3742%) (22,394) (18,000) 4,394 (2441%) (19,631) (25,102) (18,472) 6,630 (3589%) (261,439) (225,324) 36,115 (1603%) (213,165) (644,661) (619,570) 25,091 (405%) (7,557,282) (7,452,843) 104,439 (140%) (7,484,799) 4,371 4,372 1 (003%) 52,387 52, (015%) 50,923 2,936 3, (1315%) 14,880 40,560 25,680 (6331%) 29, ,803 2,803 (10000%) 28,951 33,636 4,685 (1393%) 34, ,397 0 (20,397) 10, ,810 4,810 (10000%) 36,575 57,720 21,145 (3663%) 52,013 3,988 3,919 (69) 175% 49,550 47,028 (2,522) 536% 61,430 4,995 4,740 (255) 537% 44,562 56,880 12,318 (2166%) 30, ,940 0 (14,940) 62,256 1,000 1, (2308%) 33,891 15,600 (18,291) 11725% 17,650 4,488 0 (4,488) 19,517 0 (19,517) 3, (10000%) 1, (362) 5565% (10000%) 1,960 3,200 1,240 (3876%) 1, (715) (4500%) 851 1, (2906%) 1, (110) (410) 190 1,305 2,786 1,481 (5316%) 26,559 33,432 6,873 (2056%) 30, , (1008%) 12,101 12, (654%) 12,341 1,948 2,950 1,002 (3398%) 29,856 35,400 5,544 (1566%) 39, ,164 32,689 6,525 (1996%) 389, ,718 1,605 (041%) 440,464

24 Property:, Holly Street LP the Month Ending: 12/31/2011, For SARES-REGIS Group Multifamily Property Management Division GAAP Disposition Detail Date: 12/30/2011 Time: 12:20:30 PM Prepared By: Stephanie Tan Page 3 of 9 P & L GAAP Disposition Detail - Maid Services - Mailers & Postage - Model Accessories - Office Hospitality - Outside Leasing Commissions - Resident Referral - Printed Materials-Newsletters - Printed Media - Ads - Promotional Materials - Reisdent Functions - Resident Relations - Shopping Reports - Stationary & Brochures - Total Marketing Expenses Taxes & Insurance - Real Property Taxes - Personal Property Taxes - CFD Area Taxes A - CFD Area Taxes B - Insurance - Property Tax Consulting - Total Taxes & Insurance Turnover Costs - T/O Cleaning Contract - T/O Drapes & Blinds - T/O Painting & Wall Coverings - T/O Recovery Metrics -Month Actual -Month Budget Variance % Year-To-Date Actual Year-To-Date Budget Variance % Year-To-Date Prior Year (10000%) 72 1,560 1,489 (9542%) (423) (10000%) 204 1,400 1,196 (8541%) 1, (93) 9296% 1,450 1,200 (250) 2082% 961 2, (2,184) 70689% 13,131 4,017 (9,114) 22688% 8, ,800 2, (1429%) 2, (176) (219) 3648% 641 2,585 2, (394%) 26,803 32,995 6,192 (1877%) 28, (126) 2164% (10000%) 78 1,200 1,122 (9352%) 79 1, (1,485) 49500% 8,941 5,000 (3,941) 7881% 13, , (4143%) (189) ,605 10,198 (9616%) 7,705 7,421 4,180 (3,241) 7753% 55,657 62,661 7,004 (1118%) 65,930 72,963 75,238 2,275 (302%) 891, ,006 2,275 (025%) 897, (113) 0 37,997 37,997 0 (000%) 455, ,964 1 (000%) 455, ,760 12, % 12,760 12,587 12,587 (0) 000% 151, ,858 (2) 000% 156, ,244 2,244 (10000%) , ,822 2,275 (181%) 1,512,427 1,516,832 4,405 (029%) 1,522,971 1,880 1,770 (110) 621% 25,446 20,886 (4,560) 2183% 21, (10000%) 4,298 2,832 (1,466) 5175% 2,541 9,312 6,000 (3,312) 5520% 101,286 70,800 (30,486) 4306% 68,792 (4,017) (4,043) (26) 064% (60,025) (47,710) 12,315 (2581%) (51,236)

25 Property:, Holly Street LP the Month Ending: 12/31/2011, For SARES-REGIS Group Multifamily Property Management Division GAAP Disposition Detail Date: 12/30/2011 Time: 12:20:30 PM Prepared By: Stephanie Tan Page 4 of 9 P & L GAAP Disposition Detail - T/O Floor Covering CL & REP - T/O Miscellaneous - Total Turnover Costs Repairs & Maintenance - Apartment Renewal - Appliances - Cabinets/Closets - Cleaning-Contract - Cleaning-Contract CAM - Cleaning Supplies - Clubhouse & Rec Room - Common Area Expense - Communication Equipment - Countertops - Electrical Service - Electrical Supplies - Elevators & Escalators - Exterior Building Structure - Exterior Lighting - Exterminators - Fire Protection Supplies - General Maintenance Supplies - HVAC Contract - HVAC Supplies - Interior Building - Keys & Locks - General Maintenance - Landscaping Contract Metrics -Month Actual -Month Budget Variance % Year-To-Date Actual Year-To-Date Budget Variance % Year-To-Date Prior Year (3128%) 14,887 11,505 (3,382) 2939% 13, (453) 191 7,845 4,942 (2,903) 5874% 86,345 58,313 (28,032) 4807% 55, (135) (324) 9968% 4,655 3,900 (755) 1937% 2, (10000%) (20) 338% 86 21,400 5,226 (16,174) 30949% 67,529 62,712 (4,817) 768% 25, (219) 21872% 7,604 1,200 (6,404) 53368% 6, (8928%) 871 7,500 6,629 (8839%) 5,672 1, (1,151) 57562% 2,129 2, (1131%) 3, (100) (8810%) (75) 7500% 1,230 1,200 (30) 250% 2, (502) 50229% 3,512 1,200 (2,312) 19267% 1,631 1,400 2,700 1,300 (4815%) 20,035 32,400 12,365 (3816%) 27, (10000%) 637 2,780 2,143 (7709%) (2950%) 284 2, (1,624) 33348% 8,212 9,844 1,632 (1658%) 9, (23) 2,045 3, (3184%) 3, (2032%) 7,885 6,180 (1,705) 2758% 5, (5196%) 12,614 9,000 (3,614) 4015% 7, (114) 1908% 11,973 7,200 (4,773) 6629% 8,016 6,454 2,400 (4,054) 16893% 45,582 28,800 (16,782) 5827% 31,250 (175) (14534%) 8,068 4,632 (3,436) 7417% 7, (10000%) 3,397 6,240 2,843 (4555%) 4,706 12,822 4,000 (8,822) 22055% 52,422 48,000 (4,422) 921% 39,480

26 Property:, Holly Street LP the Month Ending: 12/31/2011, For SARES-REGIS Group Multifamily Property Management Division GAAP Disposition Detail Date: 12/30/2011 Time: 12:20:30 PM Prepared By: Stephanie Tan Page 5 of 9 P & L GAAP Disposition Detail - Landscaping Supplies - Landscaping-Irrigation - Light Bulbs - Painting & Wall Covering - Painting-Exterior - Plumbing Services - Plumbing Supplies - Pools & Fountains - Privacy Gates - Roof - Security Contract - Signs & Flagpoles - Small Tools - Uniforms - Walkways-Roads-Parking Lots - Window Cleaning Contract - Window Cleaning Supplies - Miscellaneous - Total Repairs & Maintenance Utilities - Electricity - Electricity-Vacant Units - Gas - Water - Sewer - Rubbish Removal - Telephone - Other Metrics -Month Actual -Month Budget Variance % Year-To-Date Actual Year-To-Date Budget Variance % Year-To-Date Prior Year (10000%) 710 2,400 1,690 (7042%) 4, , (1,430) 57188% 6,099 3,000 (3,099) 10329% 3, (7386%) 6,202 2,400 (3,802) 15844% 5, (240) 24000% 782 1, (3482%) (615) 30770% 10,581 7,500 (3,081) 4108% 16,061 1, (1,146) 14323% 17,655 9,600 (8,055) 8391% 10, (2360%) 6,281 5,700 (581) 1020% 3, (3750%) 3,008 4,800 1,792 (3734%) 4, (389) 0 4,300 4, (337%) 59,616 53,400 (6,216) 1164% 52, (10000%) (62) 10352% (585) ,500 1,928 (7711%) 2, ,000 3,000 (10000%) 2, (213) 2,114 0 (2,114) 2, (38) ,735 26,364 (32,371) 12278% 376, ,638 (40,419) 1204% 303,997 11,615 9,856 (1,759) 1784% 134, ,272 (15,986) 1352% 120,741 1,847 1,178 (669) 5680% 22,230 14,136 (8,094) 5726% 14,063 6,826 5,310 (1,516) 2856% 63,108 63, (105%) 61,013 1,969 6,425 4,456 (6936%) 83,139 75,475 (7,664) 1015% 74, , (2055%) 13,320 13,200 (120) 091% 11,502 3,427 3, (207%) 41,698 42, (072%) 41, ,400 2,400 (10000%) 24,489 28,800 4,311 (1497%) 34,759 1,450 3,200 1,751 (5470%) 19,861 38,400 18,539 (4828%) 41,858

27 Property:, Holly Street LP the Month Ending: 12/31/2011, For SARES-REGIS Group Multifamily Property Management Division GAAP Disposition Detail Date: 12/30/2011 Time: 12:20:30 PM Prepared By: Stephanie Tan Page 6 of 9 P & L GAAP Disposition Detail - Tenant Utility Reimbursement - Total Utilities General & Administrative - Property Management Fees - Legal Fees - Write Off Turnover Costs - Write Off Legal Fees - Write Off Utilities - Write Off Rent - Write Off Term/Insuf Notice - Write Off Other - Bad Debt Recovery - Bank Charges - Cable Television - Collection Agency Fee - Computer Service Fees - Courier & Postage - Credit Checks - Dues & Subscriptions - Licenses & Permits - Mileage Reimbursement - Office Equipment Rental - Office Supplies - Pager - Other - Total General & Administrative - Total Operating Expenses Metrics -Month Actual -Month Budget Variance % Year-To-Date Actual Year-To-Date Budget Variance % Year-To-Date Prior Year (14,349) (14,800) (451) 305% (181,385) (174,912) 6,473 (370%) (172,799) 13,659 18,169 4,510 (2482%) 220, ,148 (1,570) 072% 227,202 26,288 24,783 (1,505) 607% 303, ,113 (5,143) 173% 300,472 2,914 1,500 (1,414) 9428% 11,795 18,000 6,205 (3447%) 16,698 (31) (11567%) 2,767 2,400 (367) 1530% 1, (10000%) 2,659 6,000 3,341 (5569%) 1,023 (126) (89) 0 (1,751) 1,000 2,751 (27515%) 18,645 23,000 4,355 (1893%) 10,072 (3,863) 700 4,563 (65180%) 20,326 8,400 (11,926) 14198% 4, ,834 0 (2,834) 1, (2,021) 0 2,021 (2,373) (5492%) 7,337 6,300 (1,037) 1646% 7, ,776 3, (2498%) 4,042 2, (2,460) % 5,061 1,464 (3,597) 24567% 1, (196) 4091% 8,783 8,647 (136) 157% 5, (263) 10524% 2,764 3, (2321%) 3, (10000%) 3,530 5,700 2,170 (3808%) 5, (470) 5,826 2,531 (3,295) 13020% 4,563 (438) 975 1,413 (14496%) 31,490 26,900 (4,590) 1706% 22, (77) 7716% 880 1, (2665%) 1, (10000%) 1,108 1, (3911%) 2, (406) 8542% 5,727 5,700 (27) 048% 6, ,466 0 (2,466) ,529 32,345 3,816 (1180%) 438, ,475 (14,623) 345% 397, , ,511 (21,390) 875% 3,078,415 3,006,785 (71,630) 238% 3,012,978

28 Property:, Holly Street LP the Month Ending: 12/31/2011, For SARES-REGIS Group Multifamily Property Management Division GAAP Disposition Detail Date: 12/30/2011 Time: 12:20:30 PM Prepared By: Stephanie Tan Page 7 of 9 P & L GAAP Disposition Detail Net Operating Income Before Debt Debt Service/Interest Expense - Interest-First Trust Deed - Interest-Second Trust Deed - Letter of Credit Fees - Bond Administration Fees - Total Debt Service/Interest Expense Net Operating Income After Debt Non-Operating Income - Interest Income Total Non-Operating Income Capital Improvements - Appliances - Balconies - Building Lighting - Cabinets/Closets - Concrete Repair - Countertops - Doors - Drapery & Blinds - Electrical - Elevators & Escalators - Fire Protection - Floor Coverings - HVAC Metrics -Month Actual -Month Budget Variance % Year-To-Date Actual Year-To-Date Budget Variance % Year-To-Date Prior Year (378,759) (375,059) 3,700 (099%) (4,478,867) (4,446,058) 32,809 (074%) (4,471,820) (5,826) 28,263 34,089 (12061%) 66, , ,627 (8038%) 88,913 32,142 32,142 0 (000%) 385, ,704 4 (000%) 385,700 19,792 20, (322%) 240, , (027%) 241,547 6,480 6,480 (0) 000% 78,809 78,805 (4) 000% 85,498 52,588 87,336 34,749 (3979%) 771,835 1,045, ,283 (2615%) 801,658 (326,172) (287,723) 38,449 (1336%) (3,707,032) (3,400,940) 306,092 (900%) (3,670,163) (232) (300) (68) 2265% (80,193) (80,600) (407) 051% (81,341) (232) (300) (68) 2265% (80,193) (80,600) (407) 051% (81,341) 3,693 2,000 (1,693) 8466% 51,345 41,500 (9,845) 2372% 52, ,200 3,000 (200) 667% 4, ,075 12,105 9,030 (7459%) 13, ,004 1,000 (4) 045% 1, ,000 1,000 (10000%) 4, ,225 3,000 1,775 (5917%) ,763 2,890 (2,873) 9943% 2, (331) ,635 0 (1,635) 2, ,920 5,600 (5,320) 9500% 0 3,900 0 (3,900) 7,236 6,500 (736) 1132% 9, ,000 5,000 (10000%) 88,390 60,000 (28,390) 4732% 50,458 (48,795) 3,675 52,470 (142774%) 15,950 64,070 48,120 (7511%) 32,224

29 Property:, Holly Street LP the Month Ending: 12/31/2011, For SARES-REGIS Group Multifamily Property Management Division GAAP Disposition Detail Date: 12/30/2011 Time: 12:20:30 PM Prepared By: Stephanie Tan Page 8 of 9 P & L GAAP Disposition Detail - Interior Building - Interior Design - Keys & Locks - Landscaping - Leasing Office - Office Equipment - Painting-Exterior - Painting-Interior - Plumbing - Pool Furniture - Pools & Fountains - Privacy Gates - Roof - Signs & Flags - Site Lighting - Stairs & Landings - Windows - Misc Capital Improvements Total Capital Improvements Extraordinary (Income)/Expenses - Fire Sue & Labor - Office - Legal - Partnership Legal Total Extraordinary (Income)/Expense Amortization/Depreciation - Amortization Metrics -Month Actual -Month Budget Variance % Year-To-Date Actual Year-To-Date Budget Variance % Year-To-Date Prior Year ,932 0 (4,932) (739) ,984 2,400 (584) 2433% 7, ,170 0 (2,170) ,529 18,564 4,035 (2174%) 21, ,300 6,300 (10000%) ,296 0 (6,296) 0 3,620 0 (3,620) 6,535 8,350 1,815 (2174%) ,762 2,675 (5,087) 19015% 15, ,387 15,000 1,613 (1075%) 23, ,700 1,700 (10000%) ,810 3, (935%) 3, ,779 2,000 (8,779) 43893% 1, ,600 3,500 (9722%) 4, (631) ,075 1,075 (10000%) (10000%) (371) ,426 2,700 (39,726) % 51,222 (37,582) 10,675 48,257 (45205%) 305, ,979 (36,807) 1368% 302, (150) ,384 0 (55,384) , ,384 0 (55,384) 21, ,986 0 (4,986) 59,830 0 (59,830) 59,830

30 Property:, Holly Street LP the Month Ending: 12/31/2011, For SARES-REGIS Group Multifamily Property Management Division GAAP Disposition Detail Date: 12/30/2011 Time: 12:20:30 PM Prepared By: Stephanie Tan Page 9 of 9 P & L GAAP Disposition Detail Total Amortization/Depreciation Real Estate Net (Income)/Loss Metrics -Month Actual -Month Budget Variance % Year-To-Date Actual Year-To-Date Budget Variance % Year-To-Date Prior Year 4,986 0 (4,986) 59,830 0 (59,830) 59, (358,999) (277,348) 81,651 (2944%) (3,366,225) (3,212,561) 153,664 (478%) (3,367,207)

31 Property:, Holly Street LP the Year Ending: 2011, For SARES-REGIS Group Multifamily Property Management Division GAAP Disposition Detail 12 Month Date: 12/30/2011 Time: 12:19:59 PM Prepared By: Stephanie Tan Page 1 of 9 P & L GAAP Disposition Detail Operating Income Rental Income Apartment Rent - Gross Potential Rent - Loss to Lease - Total Apartment Rent Other Rental Income - Retail Space Rent - Upgrade Unit Rent - Employee Allowances - Model Allowances - Vacancies - Vacancies - Retail - MTM/Short Term Rent - Total Other Rental Income Other Income - Retained/Refunded Deposit - NSF-Late Charges - Ancillary Income - Vending Machines - Garage Parking/Storage - Laundry Income - Retail Space CAM - Miscellaneous Income - Rental Fees January February March April May June July August September October November December Total Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Metrics (642,011) (631,783) (654,208) (636,681) (642,772) (658,824) (644,519) (625,168) (629,260) (637,446) (648,295) (666,678) (7,717,644) 4,980 (6,131) 19,520 2,998 4,439 17,170 1,669 (18,802) (13,758) (4,064) 7,479 22,947 38,445 (637,031) (637,914) (634,689) (633,683) (638,334) (641,654) (642,850) (643,970) (643,019) (641,510) (640,816) (643,730) (7,679,199) (18,855) (18,855) (18,855) (18,855) (18,122) (11,587) (20,847) (17,600) (18,268) (19,642) (19,322) (18,418) (219,227) (425) (425) (425) (425) (308) (300) (300) (280) (175) (23) 0 0 (3,085) 6,669 2,099 4,384 8,623 4,491 6,198 6,198 6,598 6,766 6,598 6,598 6,275 71,498 3,725 3,725 3,725 3,725 3,725 3,725 3,725 3,725 3,725 3,725 3,725 3,725 44,700 30,654 41,009 40,227 41,998 45,372 36,675 44,578 32,445 34,501 34,192 29,211 28, ,060 5,125 5,125 5,125 5,125 4,392 1,460 4,392 4,392 4,392 4,392 4,392 4,392 52,704 0 (2,294) (2,294) 26,893 30,385 34,181 40,192 39,550 36,171 37,746 29,281 30,941 29,242 24,604 24, ,356 (554) (3,611) (1,899) (9,515) (17,333) (10,406) (10,566) (8,860) (7,949) (169) (938) (9,649) (81,449) (1,772) (5,677) (713) 646 (481) (2,008) (2,054) (3,755) (2,003) (1,185) (1,863) (1,824) (22,691) (1,028) (1,028) (1,028) (1,028) (1,028) (1,028) (1,028) (1,028) (1,028) (1,028) (1,028) (1,028) (12,336) (89) (91) 0 0 (176) 0 (356) (3,680) (4,333) (3,263) (7,947) (8,144) (4,343) (2,779) (2,600) (4,924) (2,945) (2,659) (6,198) (53,814) (185) (196) (196) (189) (766) (4,003) (4,003) (4,003) (4,003) (4,003) (4,003) (4,003) (4,003) (4,003) (4,003) (4,003) (4,003) (48,031) 0 (657) (300) (2,592) 90 0 (2,841) (96) (350) (140) 0 0 (6,886) (350) (875) (675) (840) (1,190) (705) (1,400) (1,960) (1,225) (705) (630) (150) (10,705)

32 Property:, Holly Street LP the Year Ending: 2011, For SARES-REGIS Group Multifamily Property Management Division GAAP Disposition Detail 12 Month Date: 12/30/2011 Time: 12:19:59 PM Prepared By: Stephanie Tan Page 2 of 9 January February March April May June July August September October November December Total Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual P & L GAAP Disposition Detail Metrics - Renter's Insurance Commission 0 (1,002) 0 0 (505) (505) 0 (2,012) - Pet Fees (1,725) (1,709) (1,862) (1,929) (1,810) (1,674) (1,851) (2,053) (1,718) (1,902) (2,099) (2,061) (22,394) - Total Other Income (13,385) (22,895) (13,742) (27,207) (34,404) (24,167) (26,522) (24,446) (23,200) (12,273) (14,097) (25,102) (261,439) - Total Operating Income (623,523) (630,425) (614,249) (620,698) (633,187) (629,650) (631,626) (639,136) (635,278) (624,541) (630,309) (644,661) (7,557,282) Operating Expenses Salary Expenses - Resident Manager 4,307 4,371 4,371 4,371 4,371 4,371 4,371 4,371 4,371 4,371 4,371 4,371 52,387 - Assistant Manager ,616 4,851 4,433 2,936 14,880 - Bookkeeper 3,221 2,920 2,813 3,260 2,798 3,149 3,336 2,900 3,291 1, ,951 - Marketing Manager 4,189 3,919 3,922 3, ,795 2, ,397 - Leasing Consultant 4,594 4,657 4,337 4,623 4,250 4,617 2,553 1,874 1,599 1,359 2, ,575 - Maintenance Supervisor 5,338 4, ,055 4,337 4,824 5,668 4,205 4,733 4,459 4,459 3,988 49,550 - Maintenance Mechanic 2,599 2,702 3,098 2,838 2,319 3,690 3,456 3,475 5,192 5,583 4,616 4,995 44,562 - Custodian 2,080 1,915 1,950 2,266 1,788 1,873 2, ,940 - Bonus & Incentives 1,850 1,625 7,341 1,425 2,900 3,200 3,325 2,625 2,175 2,875 3,550 1,000 33,891 - Temporary Help ,035 3,846 3,099 2,377 1,677 4,488 19,517 - Employee Relations ,012 - Employee Education ,960 - Emp Background Check Payroll Processing Help Wanted Advertising Payroll Taxes 3,175 3,764 2,841 2,101 1,708 1,933 1,879 1,931 2,267 1,873 1,782 1,305 26,559 - Worker's Compensation 1, ,134 1,247 1, ,101 - Insurance Benefits 2,708 2,708 2,541 2,819 2,850 3,044 2,452 2,447 2,245 2,043 2,053 1,948 29,856 - Total Salary Expenses 36,006 34,104 34,754 31,411 28,301 32,807 33,543 32,553 35,669 32,418 31,383 26, ,113

33 Property:, Holly Street LP the Year Ending: 2011, For SARES-REGIS Group Multifamily Property Management Division GAAP Disposition Detail 12 Month Date: 12/30/2011 Time: 12:19:59 PM Prepared By: Stephanie Tan Page 3 of 9 P & L GAAP Disposition Detail Metrics Marketing Expenses - Maid Services - Mailers & Postage - Model Accessories - Office Hospitality - Outside Leasing Commissions - Resident Referral - Printed Materials-Newsletters - Printed Media - Ads - Promotional Materials - Reisdent Functions - Resident Relations - Shopping Reports - Stationary & Brochures - Total Marketing Expenses Taxes & Insurance - Real Property Taxes - Personal Property Taxes - CFD Area Taxes A - CFD Area Taxes B - Insurance - Total Taxes & Insurance Turnover Costs - T/O Cleaning Contract - T/O Drapes & Blinds - T/O Painting & Wall Coverings January February March April May June July August September October November December Total Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual , , ,242 1, , ,493 13, , ,431 2,410 2,372 2,043 2,267 2,478 1,855 2,332 2, ,125 2,585 26, ,512 2, ,785 8, ,573 5,530 6,646 4,653 5,136 4,471 2,926 4,249 4,706 2,026 4,321 7,421 55,657 73,763 73,763 73,763 73,763 73,763 73,763 75,238 75,238 75,238 75,238 75,238 72, , ,997 37,997 37,997 37,997 37,997 37,997 37,997 37,997 37,997 37,997 37,997 37, , , , ,760 12,994 12,994 12,994 12,180 12,587 12,587 12,587 12,587 12,587 12,587 12,587 12, , , , , , , , , , , , , ,547 1,512,427 2,970 1,717 2,467 2,362 2,240 1,485 2,967 1,040 3,675 1,090 1,555 1,880 25, , ,298 1,207 4,835 11,617 3,567 6,883 9,470 15,079 5,010 20,603 7,509 6,195 9, ,286

34 Property:, Holly Street LP the Year Ending: 2011, For SARES-REGIS Group Multifamily Property Management Division GAAP Disposition Detail 12 Month Date: 12/30/2011 Time: 12:19:59 PM Prepared By: Stephanie Tan Page 4 of 9 P & L GAAP Disposition Detail Metrics - T/O Recovery - T/O Floor Covering CL & REP - T/O Miscellaneous - Total Turnover Costs Repairs & Maintenance - Apartment Renewal - Appliances - Cabinets/Closets - Cleaning-Contract - Cleaning-Contract CAM - Cleaning Supplies - Clubhouse & Rec Room - Common Area Expense - Communication Equipment - Countertops - Electrical Service - Electrical Supplies - Elevators & Escalators - Exterior Building Structure - Exterior Lighting - Exterminators - Fire Protection Supplies - General Maintenance Supplies - HVAC Contract - HVAC Supplies - Interior Building - Keys & Locks January February March April May June July August September October November December Total Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual (2,644) (6,175) (3,763) (5,916) (4,135) (5,757) (7,268) (4,804) (8,267) (4,345) (2,935) (4,017) (60,025) 447 3,567 2, ,494 2, , , ,980 3,944 12, ,173 6,817 13,024 4,592 17,336 6,368 5,653 7,845 86,345 (135) (135) , ,400 5,400 5,400 6,870 5, ,327 5,226 6,098 5,858 (4,676) 21,400 67, , , , ,351 2, ,024 (687) , ,512 4,728 (1,600) 1,550 6,840 (1,600) 1,200 1,200 1,200 2,310 1,301 1,506 1,400 20, , , ,111 8, , ,173 (32) 369 1,281 1, , , ,176 (1,477) 1,585 1, , , , ,202 2,226 1, ,137 2, ,973 4,485 2,795 2,433 3,166 3,086 2,199 3,857 4,026 4,544 3,624 4,913 6,454 45,582 1,277 1, , , (175) 8,068

35 Property:, Holly Street LP the Year Ending: 2011, For SARES-REGIS Group Multifamily Property Management Division GAAP Disposition Detail 12 Month Date: 12/30/2011 Time: 12:19:59 PM Prepared By: Stephanie Tan Page 5 of 9 P & L GAAP Disposition Detail Metrics - General Maintenance - Landscaping Contract - Landscaping Supplies - Light Bulbs - Painting & Wall Covering - Painting-Exterior - Plumbing Services - Plumbing Supplies - Pools & Fountains - Privacy Gates - Roof - Security Contract - Signs & Flagpoles - Small Tools - Uniforms - Window Cleaning Contract - Window Cleaning Supplies - Total Repairs & Maintenance Utilities - Electricity - Electricity-Vacant Units - Gas - Water - Sewer - Rubbish Removal - Telephone - Other January February March April May June July August September October November December Total Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual ,397 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 3, ,822 52,422 3,165 (3,165) ,680 6, , , , , , , , ,394 1, ,781 2, ,769 1,313 1,213 1,946 17, ,600 (912) , , , , , ,802 4,340 8,961 4,350 4,420 4,500 4,500 (160) 8,550 4,300 59, , ,602 14,137 32,791 35,650 30,126 24,857 32,214 24,995 34,005 23,493 22,450 58, ,057 9,474 9,928 9,856 9,529 14,947 12,095 12,091 12,661 11,833 12,466 7,763 11, ,258 1,465 2,851 2,400 1,349 1,137 1,475 1,750 2,068 1,805 2,319 1,764 1,847 22,230 4,370 4,791 6,466 6,483 8,809 4,562 5,704 2,783 3,789 3,800 4,724 6,826 63,108 6,315 4,309 6,190 8,537 10,879 6,937 (1,936) 22,049 4,376 3,261 10,254 1,969 83,139 1, , (288) 3, , ,320 3,608 3,427 3,427 3,427 2,105 3,852 3,609 4,106 3,852 3,427 3,427 3,427 41,698 2,119 2,435 1,173 3,485 3, , ,304 (438) 1, ,489 4,663 1,226 1,243 1,711 1,479 1,557 1,494 (15) 1, ,105 1,450 19,861

36 Property:, Holly Street LP the Year Ending: 2011, For SARES-REGIS Group Multifamily Property Management Division GAAP Disposition Detail 12 Month Date: 12/30/2011 Time: 12:19:59 PM Prepared By: Stephanie Tan Page 6 of 9 P & L GAAP Disposition Detail Metrics - Tenant Utility Reimbursement - Total Utilities General & Administrative - Property Management Fees - Legal Fees - Write Off Turnover Costs - Write Off Legal Fees - Write Off Utilities - Write Off Rent - Write Off Term/Insuf Notice - Write Off Other - Bad Debt Recovery - Bank Charges - Cable Television - Collection Agency Fee - Computer Service Fees - Courier & Postage - Credit Checks - Dues & Subscriptions - Licenses & Permits - Mileage Reimbursement - Office Equipment Rental - Office Supplies - Other - Total General & Administrative - Total Operating Expenses January February March April May June July August September October November December Total Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual (13,568) (16,742) (14,743) (18,359) (17,052) (17,857) (15,323) (9,657) (12,906) (14,046) (16,783) (14,349) (181,385) 19,491 12,766 16,961 17,113 28,448 14,065 9,245 38,310 21,212 11,663 17,786 13, ,718 25,120 25,344 24,643 25,302 24,657 25,307 25,307 25,242 24,901 23,747 27,398 26, , ,305 2,380 19, (19,692) 771 2,095 (830) 150 2,914 11,795 (46) (81) (777) (61) (31) 2, ,049 (771) , (10) 0 (126) 89 1,691 2,285 3,453 3,583 (1,124) 488 3,370 3,275 (198) 3, (1,751) 18, (383) (200) 8,538 2,382 8,608 (109) 6,708 (1,855) 213 (3,863) 20, , (30) 0 (25) 0 0 2,834 (1,581) (60) (329) (204) 1, (590) (287) (2,021) 1,136 1, , , , , ,582 5, , , , , , , , , ,826 3,054 5,083 1,350 1, ,425 1,425 1,650 2, ,492 (438) 31, ,108 2,472 (1,310) , , ,466 32,549 42,817 35,897 53,443 40,839 35,464 22,797 32,727 40,406 26,336 46,293 28, , , , , , , , , , , , , ,901 3,078,415

37 Property:, Holly Street LP the Year Ending: 2011, For SARES-REGIS Group Multifamily Property Management Division GAAP Disposition Detail 12 Month Date: 12/30/2011 Time: 12:19:59 PM Prepared By: Stephanie Tan Page 7 of 9 P & L GAAP Disposition Detail Metrics Net Operating Income Before Debt Debt Service/Interest Expense - Interest-First Trust Deed - Interest-Second Trust Deed - Letter of Credit Fees - Bond Administration Fees - Total Debt Service/Interest Expense Net Operating Income After Debt Non-Operating Income - Interest Income Total Non-Operating Income Capital Improvements - Appliances - Balconies - Building Lighting - Cabinets/Closets - Countertops - Doors - Drapery & Blinds - Electrical - Elevators & Escalators - Fire Protection - Floor Coverings - HVAC January February March April May June July August September October November December Total Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual (362,568) (392,374) (350,068) (354,252) (369,706) (375,790) (392,055) (375,888) (356,122) (394,684) (376,601) (378,759) (4,478,867) 9,106 17,236 (2,249) 9,125 5,083 4,953 4,655 1,338 5,315 8,075 9,719 (5,826) 66,529 32,142 32,142 32,142 32,142 32,142 32,142 32,142 32,142 32,142 32,142 32,142 32, ,700 20,451 20,451 18,472 20,451 19,792 20,451 19,792 20,451 20,451 19,792 20,451 19, ,797 6,689 6,689 6,062 6,689 6,480 6,689 6,480 6,689 6,689 6,480 6,689 6,480 78,809 68,388 76,518 54,427 68,407 63,496 64,235 63,069 60,620 64,597 66,488 69,001 52, ,835 (294,180) (315,855) (295,641) (285,845) (306,210) (311,556) (328,986) (315,268) (291,525) (328,196) (307,599) (326,172) (3,707,032) (191) (189) (188) (153) (158) (40,044) (186) (168) (197) (38,298) (189) (232) (80,193) (191) (189) (188) (153) (158) (40,044) (186) (168) (197) (38,298) (189) (232) (80,193) 1,922 9, ,788 7,183 6,167 2,599 1,738 1,094 6,385 2,768 3,693 51, , , , , , , , , , , , , , , , , , ,298 3,900 7,236 1,119 7,804 4,206 15,258 11,513 10,499 8,224 4,620 9,434 15, ,390 4,000 6,841 2,000 16,945 4,680 5, ,812 13,615 2,640 3,968 (48,795) 15,950

38 Property:, Holly Street LP the Year Ending: 2011, For SARES-REGIS Group Multifamily Property Management Division GAAP Disposition Detail 12 Month Date: 12/30/2011 Time: 12:19:59 PM Prepared By: Stephanie Tan Page 8 of 9 January February March April May June July August September October November December Total Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual P & L GAAP Disposition Detail Metrics - Interior Building , , ,932 - Interior Design , ,984 - Keys & Locks ,170 - Landscaping (13,835) 17, ,040 1,860 2, ,529 - Office Equipment 3, , ,296 - Painting-Exterior 0 0 1, , ,620 6,535 - Painting-Interior , , ,762 - Plumbing 0 0 4, ,831 1, , ,997 1, ,387 - Pools & Fountains , ,810 - Privacy Gates ,200 7, , ,779 - Roof (2,500) , Signs & Flags Windows Misc Capital Improvements 0 4, , ,426 Total Capital Improvements (4,672) 50,300 15,729 53,062 46,236 37,592 25,002 12,688 25,533 66,496 15,402 (37,582) 305,786 Extraordinary (Income)/Expenses Office (530) Legal ,560 43, , ,384 Total Extraordinary (Income)/Expense ,560 43,666 0 (530) 7, ,384 Amortization/Depreciation Amortization 4,986 4,986 4,986 4,986 4,986 4,986 4,986 4,986 4,986 4,986 4,986 4,986 59,830 Total Amortization/Depreciation 4,986 4,986 4,986 4,986 4,986 4,986 4,986 4,986 4,986 4,986 4,986 4,986 59,830 Real Estate Net (Income)/Loss (293,111) (260,574) (274,989) (227,826) (255,145) (305,462) (255,518) (297,762) (261,733) (287,705) (287,400) (358,999) (3,366,225)

39 Property:, Holly Street LP the Year Ending: 2011, For SARES-REGIS Group Multifamily Property Management Division GAAP Disposition Detail 12 Month Date: 12/30/2011 Time: 12:19:59 PM Prepared By: Stephanie Tan Page 9 of 9 P & L GAAP Disposition Detail Metrics January February March April May June July August September October November December Total Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual Actual

40 Company: Holly Street LP, Month End Date: 12/31/2011 Account Petty Cash Holly Street General Checking Cash-Rehab Cash-Rental Account Cash-Money Market Cash-Security Deposits Cash-Civic Center Res Resident Receivables A/R Contra-Unearned Rent Cobra Insurance Receivables Employee Advance Intercompany-Computer Contr Late Charge Receivables Due For Payroll Developed Land Appliances Countertops Interior Building Interior Painting Plumbing Supervision Fee Multi-Family Appliances Brochures (Lease Up) Building Lighting Cabinets/Closets Countertops Elevators & Escalators Floor Coverings HVAC Interior Building Interior Design Painting-Exterior Painting-Interior Plumbing Recreation Building Signs & Flage Rehab Supervision Fee Metrics SARES-REGIS Group Multifamily Property Management Division Unaudited Trial Balance Date: 12/30/2011 Time: 12:19:17 PM Prepared By: Stephanie Tan Page 1 of 7 Month All Balance All Month P&L YTD Balance P&L Month Balance ITD Balance Sheet Accounts Accounts Accounts Accounts Sheet Accounts Accounts (24,39719) 38, (24,39719) 38, , , , ,84776 (76306) 32, (76306) 32, , , , , , , ,329, ,329,06680 (8,44429) 13, (8,44429) 13,00787 (12,46783) (42,16609) (12,46783) (42,16609) ,372, ,372, , , , , , , , , , , , , , , ,524, ,524, , , , , , , , , , , , , , , , , , , , , , , , , , , , ,87739

41 Company: Holly Street LP, Month End Date: 12/31/2011 Account Rehab Contingency Office Furniture Pool Furniture Recreation Equipment Computer Equipment Investment - Parkside BMF Loan Costs Amort-BMF Loan Costs Interest Rate Cap Amort-Interest Rate Cap Bond Loan Costs Amort-Bond Loan Costs Lease Commissions Prepaid Insurance Prepaid Taxes Tax Impound Hedge Reserve Fund Bond Fee Impound Other Deposits 1st TD Payable-Original Second Trust Deed Payable CFD Bonds Payable Accounts Payable-Comp Control Accounts Payable-General Bond/Trustee Fees Payable Accrued Payroll Accrued Interest Ser B Accrued Management Fees Accrued Property Taxes Security Deposits Security Deposit Clearing Contingent Liabilities Misc Other Liabilities Capital-Portfolio Contributions-Portfolio Distribution-Regis Distribution-Portfolio Retained Earnings Metrics SARES-REGIS Group Multifamily Property Management Division Unaudited Trial Balance Date: 12/30/2011 Time: 12:19:17 PM Prepared By: Stephanie Tan Page 2 of 7 Month All Balance All Month P&L YTD Balance P&L Month Balance ITD Balance Sheet Accounts Accounts Accounts Accounts Sheet Accounts Accounts , , , , , , , , , , , ,22884 (2,90100) (281,39700) (2,90100) (281,39700) , , , , , ,37474 (1,45400) (141,09400) (1,45400) (141,09400) (63928) 13, (63928) 13,56012 (12,58723) 25, (12,58723) 25, (344,21962) 272, (344,21962) 272,23133 (354,87457) 1, (354,87457) 1,05526 (1,97524) 288, (1,97524) 288, , , (33,915,00000) (33,915,00000) 000 (7,000,00000) (7,000,00000) 000 (8,685,00000) (8,685,00000) (28,73818) (84,04418) (28,73818) (84,04418) 1,97524 (264,42994) ,97524 (264,42994) 000 (20,85900) (20,85900) 000 (32,14167) (32,14167) (8998) (1,09160) (8998) (1,09160) 338, , (288,31076) (288,31076) (2,05448) (2,30773) (2,05448) (2,30773) (12,25161) (12,25161) (34,339,29929) (34,339,29929) (19,02236) (14,642,49777) (19,02236) (14,642,49777) , ,917, , ,917, (22,816,17164) (22,816,17164)

42 Company: Holly Street LP, Month End Date: 12/31/2011 Account Apartment Rent Upgrade Unit Rent Loss to Lease Retail Rental Income Employee Allowances Model Allowances Vacancies Vacancies - Retail Retained/Refunded Deposit NSF-Late Charges Ancillary Services Income Vending Machines Garage Parking/ Storage Laundry Income Retail Space-CAM Miscellaneous Income Rental Fees MTM/Short Term Rent Pet Fees Interest Income Renter's Insurance Commission Resident Manager Assistant Manager Bookkeeper Marketing Manager Leasing Consultant Maintenance Supervisor Maintenance Mechanic Custodian Bonus & Incentives Temporary Help Employee Relations Employee Education Emp Background Check Payroll Processing Help Wanted Advertising Payroll Taxes Worker's Compensation Metrics SARES-REGIS Group Multifamily Property Management Division Unaudited Trial Balance Date: 12/30/2011 Time: 12:19:17 PM Prepared By: Stephanie Tan Page 3 of 7 Month All Balance All Month P&L YTD Balance P&L Month Balance ITD Balance Sheet Accounts Accounts Accounts Accounts Sheet Accounts Accounts (666,67760) (7,717,64416) (666,67760) (7,717,64416) (3,08548) 000 (3,08548) , , , , (18,41840) (219,22684) (18,41840) (219,22684) , , , , , , , , , , , , , , , , (9,64909) (81,44871) (9,64909) (81,44871) (1,82389) (22,69068) (1,82389) (22,69068) (1,02800) (12,33600) (1,02800) (12,33600) (35600) 000 (35600) (6,19802) (53,81429) (6,19802) (53,81429) (18923) (76623) (18923) (76623) (4,00259) (48,03108) (4,00259) (48,03108) (6,88571) 000 (6,88571) (15000) (10,70500) (15000) (10,70500) (2,29375) 000 (2,29375) (2,06129) (22,39363) (2,06129) (22,39363) (23205) (80,19272) (23205) (80,19272) (2,01175) 000 (2,01175) , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

43 Company: Holly Street LP, Month End Date: 12/31/2011 Account Insurance Benefits Electricity Electricity-Vacant Units Gas Water Sewer Rubbish Removal Telephone Other Tenant Utility Reimbursement T/O-Cleaning Contract T/O-Drapes & Blinds T/O-Painting & Wall Coverings T/O-Recovery T/O-Floor Covering CL & REP T/O Miscellaneous Apartment Renewal Appliances Cabinets/ Closets Cleaning-Contract Cleaning-Contract CAM Cleaning-Supplies Clubhouse and Rec Room Common Area Expense Communication Equipment Countertops Electrical Services Electrical Supplies Elevators & Escalators Exterior Building Structure Exterior Lighting Exterminators Fire Protection Supplies General Maintenance Supplies HVAC-Contract HVAC-Supplies Interior Building Keys & Locks Metrics SARES-REGIS Group Multifamily Property Management Division Unaudited Trial Balance Date: 12/30/2011 Time: 12:19:17 PM Prepared By: Stephanie Tan Page 4 of 7 Month All Balance All Month P&L YTD Balance P&L Month Balance ITD Balance Sheet Accounts Accounts Accounts Accounts Sheet Accounts Accounts 1, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , (14,34879) (181,38549) (14,34879) (181,38549) , , , , , , , , , , (4,01701) (60,02509) (4,01701) (60,02509) , , (13500) 000 (13500) , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , (17501) 8,06756 (17501) 8,

44 Company: Holly Street LP, Month End Date: 12/31/2011 Account General Maintenance Landscaping Contract Landscaping Supplies Light Bulbs Painting & Wall Covering Painting-Exterior Plumbing Services Plumbing Supplies Pools & Fountains Privacy Gates Roof Security Contract Signs & Flagpoles Small Tools Uniforms Window Cleaning-Contract Window Cleaning-Supplies Real Property Taxes Personal Property Taxes CFD Area Taxes-A CFD Area Admin Fees Insurance Property Management Fees Legal Fees Maid Services Mailers & Postage Model Accessories Office Hospitality Outside Leasing Commissions Resident Referral Printed Materials-Newsletters Printed Media-Ads Promotional Materials Resident Functions Resident Relations Shopping Reports Stationery & Brochures Write-Off Turn Over Costs Metrics SARES-REGIS Group Multifamily Property Management Division Unaudited Trial Balance Date: 12/30/2011 Time: 12:19:17 PM Prepared By: Stephanie Tan Page 5 of 7 Month All Balance All Month P&L YTD Balance P&L Month Balance ITD Balance Sheet Accounts Accounts Accounts Accounts Sheet Accounts Accounts 000 3, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , (3133) 2,76717 (3133) 2,

45 Company: Holly Street LP, Month End Date: 12/31/2011 Account Write-Off Legal Fees Write-Off Utilities Bad Debt Write Off - Rent Write Off-Term/Insur Notice Write Off-Other Bank Charges Cable Television Collection Agency Fee Bad Debt-Recovery Computer Service Fees Courier & Postage Credit Checks Dues & Subscriptions Licenses & Permits Mileage Reimbursement Office Equipment Rental Office Supplies Other Interest First Trust Deed Interest Second Trust Deed Letter of Credit Fees Bond Administration Fees Office Legal Appliances Balconies Building Lighting Cabinets/Closets Countertops Doors Drapery & Blinds Electrical Elevators & Escalators Fire Protection Floor Coverings HVAC Interior Building Interior Design Metrics SARES-REGIS Group Multifamily Property Management Division Unaudited Trial Balance Date: 12/30/2011 Time: 12:19:17 PM Prepared By: Stephanie Tan Page 6 of 7 Month All Balance All Month P&L YTD Balance P&L Month Balance ITD Balance Sheet Accounts Accounts Accounts Accounts Sheet Accounts Accounts 000 2, , (12558) 8850 (12558) (1,75145) 18,64540 (1,75145) 18, (3,86257) 20,32625 (3,86257) 20, , , , , , , , , , , (2,02058) 000 (2,02058) , , , , , , , , (43840) 31,48987 (43840) 31, , , , , , , (5,82595) 66,52916 (5,82595) 66, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , (48,79459) 15,95020 (48,79459) 15, , , , ,

46 Company: Holly Street LP, Month End Date: 12/31/2011 Account Total Keys & Locks Landscaping Office Equipment Painting-Exterior Painting-Interior Plumbing Pools & Fountains Privacy Gates Roof Signs & Flags Windows Miscellaneous Capital Improvmn Amortization Expense Metrics SARES-REGIS Group Multifamily Property Management Division Unaudited Trial Balance Date: 12/30/2011 Time: 12:19:17 PM Prepared By: Stephanie Tan Page 7 of 7 Month All Balance All Month P&L YTD Balance P&L Month Balance ITD Balance Sheet Accounts Accounts Accounts Accounts Sheet Accounts Accounts 000 2, , , , , , , , , , , , , , , , , , , , , , , , (358,99938) (3,366,22494) 358, ,366,22494

47 OneSite Rents v30 OneSite Reports - Holly Street Village Page 1 of 16 12/22/2011 3:32:36PM Parameters: Property - ALL; SubJournal - ALL; Formers excluded - Yes; Unit Designation - ALL; RENT ROLL DETAIL As of 12/20/2011 mgt Details Unit Floorplan Unit Designation (30 only) SQFT Unit/Lease Status Name Move-In Move-Out Lease Start Lease End Trans Code Lease Rent Other Charges/ Credits Total Billing Dep On Hand Balance Plan B N/A Plan B N/A Plan B N/A x1bfb N/A Plan C N/A x28fc N/A Plan G N/A Plan G N/A Plan G N/A Plan G N/A Plan B N/A Plan B N/A Plan B N/A x18fb N/A Plan C N/A Plan G N/A Plan G N/A Plan B N/A Plan B N/A Plan B N/A Plan B N/A Plan C N/A Plan C N/A Plan G N/A Plan G N/A Plan G N/A Plan G N/A Plan B N/A Plan G N/A Plan B N/A Plan G N/A * Indicates amounts not included in detail totals Occupied Baraskar, Amitkumar 08/04/ /04/ /03/2012 1,94000 RENT 1, , Occupied Dickison, David 03/13/ /14/ /09/2012 1,80000 RENT 1, , Occupied Stanley, Marquee 07/07/ /07/ /06/2012 1,79000 RENT 1, , Occupied Manafi, Farideh 07/25/ /25/ /24/ RENT (1000) Occupied Kattan, Denise 09/12/ /24/ /08/2012 1,91400 RENT 2, , Occupied Lareen, Naomi 09/26/ /26/ /25/2009 1,30300 RENT 1, , (6600) Occupied Capulong, Danilo 10/09/ /05/ /29/2012 2,01500 PETFEE , RENT 1, Occupied Oakwood Corporate 01/17/ /17/ /16/2012 1,98000 RENT 1, , (45751) Housing, * Occupied De Los Santos, 08/02/ /02/ /27/2012 1,98000 RENT 1, , Shauntelle Occupied Mejia, Victor 09/23/ /23/ /22/2012 1,87500 PARKING , , PETFEE RENT 1, Occupied Ziegler, Robie 08/10/ /10/ /04/2012 1,79000 RENT 1, , (1,43754) Occupied Crile, Andrew 09/05/ /12/ /06/2012 1,81500 RENT 1, , Occupied Espadas, Michelle 09/30/ /30/ /01/2012 1,78000 RENT 1, , (085) Occupied Broughton, Lois 04/23/ /23/ /30/2003 1,04200 RENT 1, , Occupied-NTV Key Housing, * 04/28/ /28/ /27/2011 1,89400 RENT 2, , , /30/2011 Occupied Richardson, Brett 09/16/ /16/ /15/2012 1,83000 RENT 1, , Occupied Corlew, Mike 03/25/ /15/ /13/2012 1,84000 RENT 1, , Occupied Xue, Frances 02/09/ /09/ /04/2012 1,80000 RENT 1, , Occupied Natalio, Davin 07/09/ /09/ /03/2012 1,80000 RENT 1, , , Occupied Abumostafa, Samar 09/26/ /18/ /12/2012 1,93000 RENT 1, , Occupied Miller, Lisa 10/22/ /22/ /16/2012 1,79000 PETFEE , , RENT 1, Occupied Gamelin, Michael 05/12/ /12/ /29/2012 1,88900 RENT 1, , Occupied Yuan Zhong, Cui 06/14/ /30/ /10/2012 1,91400 RENT 2, , , Occupied Komanapalli, Joyce 06/12/ /04/ /29/2012 1,87500 RENT 1, , Occupied McLaughlin, Dolores 09/12/ /12/ /11/2012 1,84000 RENT 1, , , Occupied Castillo, Israel 07/21/ /30/ /25/2012 1,84000 RENT 1, , Occupied Stoskopf, Debra 03/15/ /01/ /26/2012 1,98000 RENT 1, , Occupied Wright, William 09/05/ /05/ /10/2012 1,79000 RENT 1, , Occupied Velazco, Ramon 09/28/ /12/ /06/2012 1,81000 RENT 1, , , Occupied Wilson, Jonathan 07/30/ /17/ /06/2012 1,79000 RENT 1, , Occupied-NTV Elmer, Emily 02/13/ /02/ /28/2012 1,81000 PETFEE , /20/2011

48 OneSite Rents v30 OneSite Reports - Holly Street Village Page 2 of 16 12/22/2011 3:32:36PM Parameters: Property - ALL; SubJournal - ALL; Formers excluded - Yes; Unit Designation - ALL; RENT ROLL DETAIL As of 12/20/2011 mgt Details Unit Floorplan Unit Designation (30 only) SQFT Unit/Lease Status Name Move-In Move-Out Lease Start Lease End Trans Code Lease Rent Other Charges/ Credits Total Billing Dep On Hand Balance x2bfc N/A Plan G N/A Plan B N/A x18fg N/A Plan B N/A Plan B N/A Plan B N/A Plan B N/A Plan B N/A x28fc N/A x2bfc N/A Plan A N/A x1bfa N/A Plan A N/A Plan A N/A Plan B N/A Plan A N/A Plan B N/A Plan A N/A Plan C N/A Plan A N/A Loft B N/A Plan A N/A Loft B N/A Loft B N/A Loft B N/A Loft B N/A Loft B N/A Loft C N/A Loft C N/A Plan A N/A Plan A N/A RENT 1, Occupied Ramsey, Jeanette 05/21/ /01/ /31/ RENT Occupied Toda, Kevin 11/15/ /18/ /12/2012 1,81000 RENT 1, , (53177) Occupied Sheikholeslami, 08/07/ /07/ /06/2012 1,83000 RENT 1, , Salar Occupied Pitassi, Clare 02/15/ /01/ /31/2004 1,04200 RENT 1, , Occupied Marriott Execustay, * 04/22/ /22/ /22/2012 1,83000 RENT 1, , (2523) Occupied Treu, Jacqueline 09/30/ /30/ /01/2012 1,81000 RENT 1, , Occupied Parikh, Ekta 08/29/ /25/ /19/2012 1,78000 RENT 1, , Occupied Liebl, Eric 01/21/ /21/ /31/2006 1,81000 RENT 2, , Occupied Ching, John 04/08/ /08/ /02/2012 1,79000 PARKING , (15680) RENT 1, Occupied Browne, Pamela 09/06/ /06/ /30/2004 1,30300 RENT 1, , Occupied Brown, Arlessie 09/17/ /01/ /31/ RENT (23080) Occupied Bechtel, Jon 04/01/ /29/ /23/2012 1,70400 RENT 1, , Occupied Cook, Lory 02/08/ /01/ /31/ RENT (400) Occupied Walia, Shalia 09/08/ /04/ /24/2010 1,68400 RENT 1, , Occupied Rutherford, Ryan 02/14/ /06/ /01/2012 1,70400 RENT 1, , , Occupied Blake, Kelli 07/23/ /23/ /18/2012 1,81000 RENT 1, , (1,56600) Occupied-NTV Chae, Wonha 08/20/ /16/ /13/2012 1,70400 RENT 1, , /13/2012 Occupied Kamble, Sfurti 02/21/ /07/ /03/2012 1,78000 RENT 1, , Occupied Mak, Hester 09/07/ /10/ /06/2012 1,68400 RENT 1, , Occupied Oakwood Corporate 01/15/ /07/ /02/2012 1,91400 RENT 2, , (5084) Housing, * Occupied Alexander, Paula 03/03/ /27/ /22/2012 1,68400 RENT 1, , Occupied Boyer, Calvin 02/15/ /11/ /06/2012 1,81800 RENT 2, , (92333) Occupied Estrada, Wendy 08/28/ /01/ /25/2012 1,70400 RENT 1, , , Occupied Ogden, Jason 01/30/ /30/ /01/2012 1,86300 RENT 1, , Occupied Smith, Krista 07/01/ /01/ /25/2012 1,81300 RENT 1, , Occupied Cahill, Michael 08/30/ /30/ /26/2012 1,97800 PARKING , RENT 1, Occupied Lee, Stephen 05/15/ /15/ /09/2012 1,95300 RENT 1, , (6428) Occupied Lu, Chungung 02/01/ /02/ /28/2012 1,81300 RENT 1, , Occupied Wiggins, Stephanie 04/18/ /10/ /04/2012 2,47300 RENT 2, , Occupied Dominguez, Henry 01/15/ /15/ /10/2012 2,47300 RENT 2, , Occupied Baenen, Annie 06/08/ /08/ /02/2012 1,65400 RENT 1, , Occupied Rasul, Shahla 08/10/ /10/ /04/2012 1,65400 RENT 1, , * Indicates amounts not included in detail totals

49 OneSite Rents v30 OneSite Reports - Holly Street Village Page 3 of 16 12/22/2011 3:32:36PM Parameters: Property - ALL; SubJournal - ALL; Formers excluded - Yes; Unit Designation - ALL; RENT ROLL DETAIL As of 12/20/2011 mgt Details Unit Floorplan Unit Designation (30 only) SQFT Unit/Lease Status Name Move-In Move-Out Lease Start Lease End Trans Code Lease Rent Other Charges/ Credits Total Billing Dep On Hand Balance Plan A N/A Plan A N/A Loft B N/A Plan A N/A Loft B N/A Plan A N/A Loft C N/A x18fa N/A Plan A N/A x2bfd N/A Plan C N/A Plan B N/A Plan C N/A x1bfb N/A Plan C N/A N/A Plan B N/A Plan C N/A Plan D N/A Plan C N/A Loft B N/A Plan C N/A Loft B N/A Plan C N/A x18fb N/A x28fc N/A Plan D N/A Plan C N/A Plan C N/A x2bfc N/A Plan B N/A * Indicates amounts not included in detail totals Occupied Zasa, Robert Joseph 11/30/ /30/ /29/2012 1,65400 RENT 1, , Occupied Yu, Jimi 04/02/ /29/ /23/2012 1,65400 PARKING , PETFEE RENT 1, Occupied Wagar, Bruce 08/01/ /13/ /07/2012 1,83800 PETFEE , RENT 1, Occupied Son, Miyoung 05/01/ /02/ /29/2011 1,79400 RENT 1, , , Occupied Tosaya, Dinah 02/28/ /25/ /19/2012 1,79300 RENT 1, , Occupied Schiller, Noelle 02/19/ /19/ /18/2012 1,61900 RENT 1, , , Occupied Cantagallo, Gina 12/15/ /15/ /09/2012 2,31300 RENT 2, , (12519) Occupied Monty, Antoinette 01/31/ /31/ /30/2012 1,04200 RENT 1, , (16314) Occupied Ge, Ling 08/25/ /25/ /19/2012 1,67400 RENT 1, , , Occupied Plaid, Cheyvee 08/30/ /30/ /29/ RENT , Occupied Suite, Hospitality 12/07/ /07/ /01/2012 1,88900 BUNG 000 (1,89900) Guest RENT 1, Occupied Xula, Sergio 07/01/ /01/ /30/2011 1,94000 RENT 1, , Vacant VACANT 2, * 000 * Occupied Rodriguez, Gabriel 11/06/ /06/ /05/ RENT , Vacant-Leased VACANT 1, * 000 * Applicant Almond, Whitney 12/21/ /21/ /18/2012 RENT 1,86500 * 000 * 1,86500 * Occupied Yi, Evan 07/23/ /18/ /12/2012 1,92000 RENT 1, , (28191) Occupied Vashi, Ashish 04/03/ /23/ /11/2010 1,99900 RENT 2, , Occupied Pitic, Aldin 10/29/ /29/ /28/2012 2,10600 RENT 2, , Occupied Jeon, Sang 12/24/ /24/ /23/2011 1,83400 RENT 1, , Occupied Haines, Mark 11/08/ /28/ /23/2012 1,95300 RENT 2, , Occupied Crookshanks, Clark 10/11/ /11/ /28/2012 1,91400 RENT 1, , Occupied Jukes, Stephanie 12/19/ /19/ /18/2012 1,95300 RENT 1, , Occupied French, Ashley 07/23/ /23/ /17/2012 1,91400 PETFEE , , RENT 2, Occupied Youngblood, Betty 09/01/ /01/ /31/1997 1,04200 RENT 1, , (29870) Occupied Senkandwa, Harriet 07/28/ /28/ /31/2008 1,30300 RENT 1, , ,26900 (35773) Occupied Patel, Rajen 01/14/ /01/ /31/2004 2,15600 RENT 2, , Occupied Reynolds, Laura 06/10/ /10/ /28/2012 1,93900 RENT 1, , Occupied Hafen, Landon 09/07/ /07/ /01/2012 2,16900 RENT 2, , Occupied Martinez, Christy 06/11/ /11/ /10/ RENT , Occupied-NTV Phadtare, Parag 08/23/ /23/ /21/2011 1,79000 RENT 1, , (5400) 12/21/2011

50 OneSite Rents v30 OneSite Reports - Holly Street Village Page 4 of 16 12/22/2011 3:32:36PM Parameters: Property - ALL; SubJournal - ALL; Formers excluded - Yes; Unit Designation - ALL; RENT ROLL DETAIL As of 12/20/2011 mgt Details Unit Floorplan Unit Designation (30 only) SQFT Unit/Lease Status Name Move-In Move-Out Lease Start Lease End Trans Code Lease Rent Other Charges/ Credits Total Billing Dep On Hand Balance Plan C N/A x2bld N/A Loft C N/A Loft C N/A Loft C N/A Loft B N/A Loft C N/A x28fc N/A Plan D N/A x2bfc N/A x1bfb N/A Plan C N/A Plan B N/A x2bfc N/A Plan B N/A Plan C N/A Plan D N/A x2bfc N/A Loft B N/A Plan C N/A Loft B N/A Plan C N/A x18fb N/A Plan C N/A Plan D N/A Plan C N/A Plan C N/A x28fc N/A Plan B N/A * Indicates amounts not included in detail totals Occupied O`Laughlin, Erin 09/16/ /16/ /10/2012 1,88900 RENT 1, , Occupied Pickens, LaDonne 04/16/ /16/ /10/ RENT (3336) Occupied Goodchild, David 02/06/ /06/ /01/2012 2,50300 PETFEE , RENT 2, Occupied Zacny, Kris 07/03/ /03/ /27/2012 2,52800 RENT 2, , Occupied Johnson, Charles 09/16/ /16/ /10/2012 2,38800 RENT 2, , Occupied Meverden, Ashley 10/13/ /13/ /07/2012 1,95300 PARKING , RENT 1, Occupied Dinh, Tinny 07/13/ /13/ /07/2012 2,33300 PARKING , RENT 2, Occupied Ware, Elisa 12/01/ /01/ /30/1997 1,30300 RENT 1, , Occupied Scott, Angela 10/19/ /19/ /14/2011 2,13100 RENT 2, , Occupied Rios, Jose 07/18/ /01/ /31/ RENT STORAGE Occupied Hargrove, Charlene 04/24/ /24/ /23/ PETFEE , RENT STORAGE Occupied Kang, Youn Sik 09/17/ /13/ /07/2012 1,83400 RENT 1, , Vacant VACANT 1, * 000 * Occupied Crockom, Latonia 07/12/ /12/ /11/ RENT , Occupied Xu, Lin 10/21/ /21/ /08/2012 1,76000 RENT 1, , , Occupied Dobbert, Christopher 11/19/ /19/ /13/2012 1,85900 RENT 1, , Occupied Cabral, Guillermo 05/21/ /01/ /31/2011 2,05600 EMPLCRED 000 (2,23400) RENT 2, Occupied Samsami, Hedayat 10/27/ /27/ /31/ RENT (17000) Occupied Hernandez, Adrian 11/25/ /25/ /19/2012 1,78800 RENT 1, , ,73800 (10000) Vacant VACANT 1, * 000 * Occupied Gailen, Carol 08/11/ /07/ /01/2012 1,78800 RENT 1, , Occupied Wiener, Daniel 09/01/ /01/ /19/2012 1,85900 RENT 1, , Occupied Allen, Robert 12/01/ /01/ /30/1995 1,04200 RENT 1, , Occupied Comstock, Leslie 01/29/ /15/ /24/2011 1,85900 RENT 2, , Occupied Gillett, Paul 03/19/ /25/ /12/2012 2,10600 RENT 2, , Occupied Farkas, Michael 09/13/ /13/ /07/2012 1,83400 RENT 1, , Occupied Purves, Josh 06/15/ /07/ /25/2012 1,85900 PETFEE , RENT 1, Occupied Jenkins, William 07/22/ /22/ /31/2006 1,30300 RENT 1, , Occupied Gichuhi, Grace 01/29/ /29/ /17/2012 1,78000 RENT 1, , (095)

51 OneSite Rents v30 OneSite Reports - Holly Street Village Page 5 of 16 12/22/2011 3:32:36PM Parameters: Property - ALL; SubJournal - ALL; Formers excluded - Yes; Unit Designation - ALL; RENT ROLL DETAIL As of 12/20/2011 mgt Details Unit Floorplan Unit Designation (30 only) SQFT Unit/Lease Status Name Move-In Move-Out Lease Start Lease End Trans Code Lease Rent Other Charges/ Credits Total Billing Dep On Hand Balance Loft C N/A Loft D N/A x28lc N/A Loft C N/A Loft C N/A Loft B N/A x1bfb N/A x2bfc N/A x1bfb N/A Plan B N/A x18fb N/A Plan G N/A Plan B N/A Plan B N/A Plan B N/A Plan C N/A x2bfc N/A Plan C N/A x28fc N/A x2bfc N/A Plan B N/A Plan D N/A Plan D N/A Plan B N/A Plan C N/A Plan B N/A Plan B N/A N/A Plan B N/A Occupied Strametz, Laura 09/05/ /01/ /31/2012 2,43800 RENT 2, , Occupied Hess, Robert 09/26/ /22/ /17/2011 2,68100 RENT 3, , Occupied Luke, Janett 02/01/ /01/ /31/2006 1,30300 RENT 1, , (4450) Occupied Han, Younsik 02/27/ /27/ /30/2012 2,31800 RENT 2, , Occupied Vana, Allison 06/20/ /14/ /08/2012 2,30800 RENT 2, , Occupied Schwartz, Jennifer 02/18/ /18/ /03/2012 1,76800 RENT 2, , STORAGE Occupied Thomas, Monique 12/29/ /29/ /28/ RENT Occupied Burrows, Keith 03/12/ /01/ /31/ RENT Occupied Dandino, Elizabeth 06/24/ /24/ /30/ RENT Occupied De Silva, Ravi 04/15/ /05/ /29/2012 1,78000 PETFEE , , RENT 1, Occupied Daryaie, Shahindokh 06/27/ /01/ /31/2004 1,04200 RENT 1, , (600) Occupied Lee, Aaron 08/01/ /01/ /26/2012 1,84000 RENT 1, , Occupied Cunningham, 05/30/ /26/ /20/2012 1,82000 PETFEE , Melissa RENT 1, Occupied Heath, Brandon 09/16/ /16/ /17/2012 1,81000 PETFEE , , RENT 1, Occupied Menezes, Gustavo 03/20/ /13/ /07/2012 1,81000 RENT 1, , Occupied Estillore, Arthur 08/18/ /06/ /02/2012 1,96400 PARKING , RENT 2, Occupied Bradford, Eddie 04/29/ /01/ /31/ RENT STORAGE Occupied Austin, Talea 11/10/ /06/ /31/2012 1,85400 PETFEE , , RENT 2, Occupied Sanchez, Blanca 11/21/ /21/ /22/2008 1,30300 RENT 1, , (50825) Occupied Richardson, Victoria 08/15/ /15/ /19/ RENT , Occupied Blount, David 07/07/ /07/ /01/2012 1,78500 RENT 1, , Occupied Bye, Larry 04/18/ /27/ /22/2012 2,11600 RENT 2, , Occupied Coulter, Patricia 07/15/ /15/ /09/2012 2,27100 RENT 2, , Occupied Marquardt, Joel 12/01/ /17/ /11/2012 1,80000 RENT 1, , Occupied Reese, Magda 03/31/ /31/ /30/2012 2,05400 RENT 1, , Occupied Cox, Corey 07/16/ /16/ /17/2012 1,79000 RENT 1, , ,52500 (3483) Occupied Marriott Execustay, * 05/02/ /02/ /21/2011 1,79000 RENT 1, , Pending renewal Marriott Execustay, * 05/02/ /22/ /19/2012 RENT 1,71600 * 000 * 1,71600 * Occupied Gonzalez, Juan 10/17/ /17/ /04/2012 1,76000 RENT 1, , ,52900 (038) * Indicates amounts not included in detail totals

52 OneSite Rents v30 OneSite Reports - Holly Street Village Page 6 of 16 12/22/2011 3:32:36PM Parameters: Property - ALL; SubJournal - ALL; Formers excluded - Yes; Unit Designation - ALL; RENT ROLL DETAIL As of 12/20/2011 mgt Details Unit Floorplan Unit Designation (30 only) SQFT Unit/Lease Status Name Move-In Move-Out Lease Start Lease End Trans Code Lease Rent Other Charges/ Credits Total Billing Dep On Hand Balance Plan G N/A Plan B N/A Plan B N/A Plan B N/A x28fc N/A Plan C N/A x2bfc N/A Plan C N/A x28fc N/A x18fb N/A x2bfd N/A Plan D N/A Plan B N/A x28fc N/A Plan B N/A x1bfb N/A Plan B N/A x18fb N/A Plan B N/A Plan B N/A Plan B N/A Plan C N/A Plan C N/A x2bfc N/A x2bfc N/A Occupied Fitzgerald, Katherine 08/07/ /07/ /26/2012 1,89500 PETFEE , , Anne RENT 1, Occupied Simonsen, Austen 10/22/ /22/ /21/2012 1,78000 RENT 1, , , Occupied Oakwood Corporate 12/15/ /15/ /14/2012 1,81000 RENT 1, , Housing, * Occupied Salehi, Masoud 08/29/ /29/ /18/2012 1,95000 RENT 1, , Occupied Knox, Barsha 08/30/ /30/ /29/2012 1,30300 RENT 1, , (34394) Vacant VACANT 2, * 000 * Occupied Morgan, Shaunda 02/05/ /05/ /04/ RENT (675) Occupied Garcia, Bridget 09/20/ /23/ /21/2012 2,05400 RENT 2, , , STORAGE Vacant VACANT 1, * 000 * Occupied Guy, Lillian 07/05/ /05/ /04/2009 1,04200 RENT 1, , STORAGE Occupied Bentley, Marjorie 09/22/ /01/ /31/ PETFEE (44200) RENT Occupied Sedmak, Nicole 06/21/ /21/ /20/2012 2,24600 RENT 2, , , STORAGE Occupied Delevi, Rakel 05/31/ /23/ /17/2012 1,80000 RENT 1, , Occupied Ford, Barbara 06/01/ /01/ /31/2011 1,30300 RENT 1, , (17517) STORAGE Occupied Tuble, Sigrid 09/12/ /12/ /30/2012 1,79000 RENT 1, , , Occupied Large, Adrienne 08/03/ /03/ /02/ RENT ,03800 (4091) Occupied Young, Brian 08/21/ /17/ /11/2012 1,76000 RENT 1, , Occupied Firoozy, Molouk 08/01/ /01/ /31/2004 1,04200 RENT 1, , (200) Occupied Simmons, Jonathan 10/01/ /04/ /28/2012 1,79000 RENT 1, , Occupied Regency Corporate 11/11/ /11/ /10/2012 1,94000 RENT 1, , Living, * Vacant VACANT 1, * 000 * Occupied Guerrero, Mellissa 03/15/ /09/ /03/2012 2,05400 PETFEE , (13711) RENT 2, STORAGE Occupied Zhang, Erin 02/19/ /19/ /18/2012 1,93900 PETFEE , , RENT 2, Occupied Goudeau, Julia 11/29/ /29/ /30/ RENT ,02300 (6606) STORAGE Occupied Diaz, Lenor 07/18/ /18/ /17/ RENT * Indicates amounts not included in detail totals

53 OneSite Rents v30 OneSite Reports - Holly Street Village Page 7 of 16 12/22/2011 3:32:36PM Parameters: Property - ALL; SubJournal - ALL; Formers excluded - Yes; Unit Designation - ALL; RENT ROLL DETAIL As of 12/20/2011 mgt Details Unit Floorplan Unit Designation (30 only) SQFT Unit/Lease Status Name Move-In Move-Out Lease Start Lease End Trans Code Lease Rent Other Charges/ Credits Total Billing Dep On Hand Balance Plan C N/A Plan B N/A Plan D N/A Plan D N/A Loft B N/A Loft C N/A x18lb N/A Loft B N/A Loft B N/A Loft G N/A Loft B N/A Loft B N/A Loft B N/A Loft C N/A Loft C N/A Loft C N/A x2blc N/A Loft C N/A Loft B N/A Loft D N/A Loft D N/A Plan H N/A Plan H N/A x28fc N/A Plan B N/A Plan C N/A x1bfb N/A * Indicates amounts not included in detail totals Occupied Stewart, Gloria 08/26/ /15/ /09/2012 1,93900 PETFEE , , RENT 1, Occupied Donnell, Brian 01/16/ /12/ /07/2012 1,76000 RENT 1, , Occupied Vora, Shruti 07/18/ /18/ /18/2012 2,09600 RENT 2, , (3500) Occupied Wakatsuki, Takeru 05/13/ /13/ /12/2012 2,10600 RENT 1, , , Occupied Jackson, Nathanael 12/04/ /30/ /28/2012 1,83800 RENT 1, , Occupied Hamilton, Ashley 11/07/ /07/ /01/2012 2,35300 RENT 2, , , Occupied Towns, Jeneal 09/01/ /01/ /31/2011 1,04200 RENT 1, , (300) Occupied Birnbaum, Ben 02/13/ /13/ /08/2012 1,81300 RENT 1, , Occupied Moravcik, Eva 10/01/ /01/ /25/2012 1,89300 RENT 1, , Occupied Fischer, Tara 07/27/ /27/ /21/2012 1,93800 RENT 1, , Occupied Carlson, Stephanie 06/01/ /01/ /21/2011 1,75300 PETFEE , ,00000 (3126) RENT 2, Occupied Lemoi, Alpherie 10/23/ /23/ /17/2012 1,81300 PETFEE , , RENT 1, Occupied Donsbach, Paul 09/03/ /03/ /28/2012 1,95300 PETFEE , , RENT 1, STORAGE Occupied Hamilton, Dawn 08/06/ /06/ /05/2012 2,33300 RENT 2, , , Occupied Dayabhai-Jairambhai 01/21/ /21/ /20/2012 2,36300 RENT 2, , , Punam Occupied Winans, Kelly 08/01/ /21/ /15/2012 2,36300 PETFEE , RENT 2, Occupied Thompson, Sharon 07/12/ /01/ /31/ RENT (065) Occupied Forteza, Evelyn 11/26/ /26/ /25/2012 2,50300 RENT 2, , , Occupied Mesmer, Ethan 11/18/ /24/ /19/2011 1,83800 RENT 2, , Occupied Castillo, Edilzar 04/22/ /22/ /21/2012 2,73100 PARKING , RENT 2, Occupied Nakayama, Satoshi 07/24/ /20/ /14/2012 2,71100 RENT 2, , Occupied Mac Dougall, Derek 05/29/ /20/ /14/2012 2,18100 RENT 2, , Occupied Gris, Angela 11/04/ /04/ /03/2012 2,18100 RENT 2, , , Occupied Offutt, Tressa 08/30/ /30/ /29/2012 1,30300 RENT 1, , (18294) Occupied Van Der Touw, 03/29/ /14/ /12/2012 1,79000 RENT 1, , (44337) Renee Occupied-NTV Cerny, Lindsey 07/25/ /25/ /21/2012 1,88900 PETFEE , ,10000 (001) 01/21/2012 RENT 2, Occupied Zillgitt, Margaret 09/01/ /01/ /31/ RENT (Stephanie)

54 OneSite Rents v30 OneSite Reports - Holly Street Village Page 8 of 16 12/22/2011 3:32:36PM Parameters: Property - ALL; SubJournal - ALL; Formers excluded - Yes; Unit Designation - ALL; RENT ROLL DETAIL As of 12/20/2011 mgt Details Unit Floorplan Unit Designation (30 only) SQFT Unit/Lease Status Name Move-In Move-Out Lease Start Lease End Trans Code Lease Rent Other Charges/ Credits Total Billing Dep On Hand Balance Plan C N/A x28fc N/A Plan H N/A x2bfh N/A Plan C N/A x18fb N/A Plan C N/A Plan B N/A Plan C N/A Plan C N/A Plan H N/A Plan H N/A Plan C N/A Plan B N/A Plan C N/A Plan B N/A N/A x28fc N/A Plan C N/A Plan H N/A Loft H N/A Loft C N/A Loft B N/A Loft C N/A STORAGE Occupied Riesen, Anne-Jose 05/25/ /20/ /14/2012 1,88900 RENT 2, , Occupied Haber, Mark 08/23/ /23/ /31/2006 1,30300 RENT 1, , (26500) Occupied Graves, Jason 12/01/ /27/ /21/2012 2,29600 PETFEE , ,40000 (003) RENT 2, Occupied Ward, Saraan 10/26/ /26/ /31/ RENT (100) Occupied PC Housing, * 06/15/ /15/ /14/2012 1,91400 RENT 2, , Occupied Kamali, Roza 08/07/ /07/ /31/2011 1,04200 RENT 1, , (001) Vacant VACANT 2, * 000 * Occupied Jones, Robert 01/10/ /05/ /24/2012 1,94000 RENT 1, , STORAGE Occupied Eiler, Janis 06/06/ /06/ /24/2012 1,91400 PETFEE , RENT 1, Occupied Havel, Timothy 06/07/ /07/ /06/2012 2,02900 RENT 1, , Occupied Fagundes, David 11/29/ /25/ /23/2012 2,17600 RENT 1, , (29717) Occupied Ortiz, Maria 05/21/ /17/ /11/2012 2,17600 RENT 2, , , STORAGE Occupied Country, Cross 12/10/ /10/ /09/2012 1,91400 RENT 2, , Occupied Ehrlich, Anne 06/24/ /19/ /13/2012 1,81000 PETFEE , RENT 1, Occupied Latip, Jessica 02/12/ /28/ /22/2012 1,91400 RENT 1, , Occupied Hoshino, Takuya 07/19/ /15/ /04/2012 1,81000 PARKING , , RENT 1, Pending renewal Hoshino, Takuya 07/19/ /05/ /10/2012 PARKING 000 * 7500 * 1,81800 * RENT 1,74300 * 000 * Occupied Ramos, Mario 07/31/ /31/ /30/2010 1,30300 RENT 1, , Occupied Koike, Shinya 06/28/ /28/ /22/2012 2,16900 RENT 2, , , Occupied Bilovsky, Paula 05/01/ /01/ /25/2012 2,17600 RENT 1, , STORAGE Occupied CSDS AIRCRAFT 03/11/ /11/ /10/2012 2,89600 PETFEE , SALES LEASING I, Ben RENT 2, Occupied Spragg, Melissa 05/25/ /25/ /19/2012 2,36300 PETFEE , , RENT 2, Occupied Hughes, Jeremy 11/12/ /12/ /30/2012 1,81800 RENT 1, , Occupied Liwanag, Allen 07/31/ /31/ /25/2012 2,36300 RENT 2, , * Indicates amounts not included in detail totals

55 OneSite Rents v30 OneSite Reports - Holly Street Village Page 9 of 16 12/22/2011 3:32:36PM Parameters: Property - ALL; SubJournal - ALL; Formers excluded - Yes; Unit Designation - ALL; RENT ROLL DETAIL As of 12/20/2011 mgt Details Unit Floorplan Unit Designation (30 only) SQFT Unit/Lease Status Name Move-In Move-Out Lease Start Lease End Trans Code Lease Rent Other Charges/ Credits Total Billing Dep On Hand Balance Loft B N/A x2blc N/A Loft C N/A x28fh N/A Plan H N/A x18fb N/A Plan C N/A x1bfb N/A Plan C N/A Plan C N/A x2bfc N/A N/A Plan H N/A Plan H N/A Plan B N/A Plan C N/A x18fb N/A Plan C N/A Plan C N/A Plan C N/A Plan H N/A x28fh N/A Plan B N/A x2bfc N/A Plan B N/A Plan C N/A Plan C N/A Plan C N/A Loft H N/A Plan H N/A * Indicates amounts not included in detail totals Occupied Dubois, Tammy 09/18/ /14/ /08/2012 1,83800 PARKING , RENT 1, Occupied Loo, Paul 09/15/ /15/ /30/ RENT (64100) Occupied SCI LIVE INC, * 12/08/ /08/ /29/2012 2,55300 PETFEE , (33000) RENT 2, Occupied Kearney, Ellyn P 10/30/ /30/ /30/1997 1,30300 RENT 1, , (600) Occupied Marchionda, Frankie 05/16/ /07/ /01/2012 2,17600 RENT 2, , (2255) STORAGE Occupied Taylor-Wheat, 04/01/ /01/ /31/2012 1,04200 RENT 1, , Madeline Occupied ICE ENERGY, INC, 07/12/ /12/ /11/2012 1,88900 RENT 2, , * Occupied Hadley, Amber 03/30/ /30/ /29/ RENT , Vacant VACANT 1, * 000 * Occupied Barber, LaToya 04/18/ /18/ /17/2012 1,88900 RENT 1, , Vacant-Leased VACANT * 000 * Applicant Miller, Jennifer 01/25/ /25/ /19/2013 RENT * 000 * * Occupied Irizarry, Yvette 11/21/ /21/ /15/2012 2,17600 RENT 2, , Occupied Soudjian, Ara 05/01/ /25/ /23/2012 2,17600 RENT 1, , Occupied Ng, Airin 07/10/ /10/ /11/2012 1,80000 PETFEE , , RENT 1, Occupied Syed, Asad 06/26/ /26/ /27/2012 1,93900 RENT 2, , Occupied Pozo, Ruth 05/06/ /06/ /31/2003 1,04200 RENT 1, , Occupied Oakwood, * 07/07/ /06/ /30/2012 1,93900 RENT 2, , Occupied Kong, Nancy 08/24/ /24/ /18/2012 2,05400 RENT 1, , Occupied Orozco, Rafael 03/07/ /23/ /18/2012 1,93900 RENT 2, , , Occupied Teta, Rosemary 04/09/ /09/ /27/2012 2,17600 RENT 1, , Occupied Williams, Wynter 05/01/ /01/ /30/2010 1,30300 RENT 1, , Occupied Stiles, Noelle 08/18/ /14/ /08/2012 1,94000 RENT 1, , Occupied Wilson, Toni 04/01/ /01/ /31/ RENT (43728) Occupied Scheinhorn, David 04/30/ /18/ /12/2012 1,80000 RENT 1, , Occupied Lal, Shalini 05/21/ /21/ /15/2012 2,02900 RENT 1, , Occupied Morawiec, Amy 09/16/ /16/ /17/2012 1,93900 RENT 1, , Occupied Knowlton, Katherine 09/09/ /09/ /27/2012 1,93900 RENT 2, , Occupied Santamaria, Diane 01/25/ /25/ /20/2012 2,75600 PETFEE , , RENT 1, Occupied Magarian, Shirley 09/08/ /04/ /30/2011 2,18100 RENT 2, , STORAGE

56 OneSite Rents v30 OneSite Reports - Holly Street Village Page 10 of 16 12/22/2011 3:32:36PM Parameters: Property - ALL; SubJournal - ALL; Formers excluded - Yes; Unit Designation - ALL; RENT ROLL DETAIL As of 12/20/2011 mgt Details Unit Floorplan Unit Designation (30 only) SQFT Unit/Lease Status Name Move-In Move-Out Lease Start Lease End Trans Code Lease Rent Other Charges/ Credits Total Billing Dep On Hand Balance Loft B N/A Loft C N/A Loft B N/A Loft C N/A Loft C N/A Loft C N/A Plan E N/A Plan E N/A x28fc N/A Plan B N/A x18fb N/A x1bff N/A Plan B N/A Plan E N/A Plan E N/A Plan B N/A Plan B N/A Plan C N/A Plan B N/A Plan C N/A Plan B N/A Plan C N/A Plan C N/A Plan C N/A Plan C N/A Plan C N/A N/A Plan B N/A Plan B N/A Occupied Jackson, Timothy 01/18/ /18/ /10/2010 1,97800 RENT 2, , Occupied Lewis, James 06/18/ /18/ /05/2012 2,38800 RENT 2, , Occupied Reising, Breanna 07/31/ /23/ /20/2012 1,98300 RENT 2, , STORAGE Occupied Schafer, Scott 03/08/ /17/ /08/2012 2,37300 PETFEE , , RENT 2, Occupied Franklin, Robert 08/19/ /20/ /14/2012 2,35800 RENT 2, , Occupied Sumarli, Dominic 12/18/ /18/ /15/2012 2,35800 RENT 2, , (15851) Vacant VACANT 2, * 000 * Occupied Wang, Jingyaun 09/30/ /30/ /29/2012 2,21400 RENT 2, , , Occupied Flores, Marlene 08/11/ /11/ /31/2007 1,30300 RENT 1, , (64200) Occupied Rundall, Yang 07/06/ /06/ /05/2012 1,80000 RENT 1, , (27177) Occupied Elsberry, Mary 04/01/ /01/ /31/2012 1,04200 RENT 1, , Occupied Blackmon, Amy 07/31/ /31/ /30/ RENT Occupied Martinez, Robert 09/10/ /06/ /31/2012 1,80000 RENT 1, , Occupied Kockler, Jennifer 05/01/ /19/ /13/2012 2,20400 RENT 2, , Occupied Kushwaha, Arjun 06/28/ /16/ /10/2012 2,17400 RENT 2, , Vacant VACANT 1, * 000 * Occupied Oakwood Corporate 03/03/ /27/ /22/2012 1,79000 RENT 1, , (1,35911) Housing, * Occupied Brooks, Bobbie 04/01/ /01/ /19/2012 2,02900 PETFEE , , ,53211 RENT 2, Occupied Oakwood Corporate 02/25/ /18/ /12/2012 1,81000 RENT 1, , (6843) Housing, * Vacant VACANT 1, * 000 * Occupied Sibois, Aurore 11/25/ /25/ /19/2012 1,81000 RENT 1, , , Occupied-NTV Zacharias, Brian 07/31/ /31/ /30/2011 1,85900 RENT 2, , /02/2012 Occupied Hobbie, Suzanne 04/20/ /20/ /19/2012 1,93900 RENT 1, , Occupied Erner, Berk 08/25/ /24/ /18/2012 2,05400 RENT 2, , Occupied Model, Model 03/25/ /01/ /31/2011 1,93900 MODEL 000 (2,18300) RENT 2, Occupied Smith, Robert 01/07/ /07/ /06/2012 2,05400 RENT 2, , STORAGE Pending renewal Smith, Robert 01/07/ /07/ /06/2012 RENT 2,42200 * 000 * 2,46700 * STORAGE 000 * 4500 * Occupied Manukyan, Gegham 10/15/ /24/ /18/2012 1,81000 RENT 1, , Occupied Horning, Donald 12/08/ /23/ /14/2012 1,76000 RENT 1, , (23874) * Indicates amounts not included in detail totals

57 OneSite Rents v30 OneSite Reports - Holly Street Village Page 11 of 16 12/22/2011 3:32:36PM Parameters: Property - ALL; SubJournal - ALL; Formers excluded - Yes; Unit Designation - ALL; RENT ROLL DETAIL As of 12/20/2011 mgt Details Unit Floorplan Unit Designation (30 only) SQFT Unit/Lease Status Name Move-In Move-Out Lease Start Lease End Trans Code Lease Rent Other Charges/ Credits Total Billing Dep On Hand Balance Plan B N/A Plan B N/A Plan E N/A Plan E N/A x2bfe N/A x18fb N/A Plan B N/A Plan C N/A Plan B N/A Plan C N/A x1bfb N/A x28fc N/A Plan C N/A Plan C N/A Plan C N/A x2bfc N/A Plan B N/A x1bfb N/A x18ff N/A Plan B N/A x28fe N/A Plan E N/A Plan E N/A Plan B N/A x18fb N/A Loft C N/A Loft B N/A Loft C N/A Loft B N/A x2blc N/A Occupied Macazana, Carmen 11/26/ /22/ /16/2012 1,85500 RENT 1, , Cecilia Occupied Model, One bedroom 04/23/ /05/ /31/2011 1,80000 MODEL 000 (1,54200) RENT 1, Occupied Marshall, Robert 09/12/ /12/ /11/2012 2,21400 RENT 2, , Occupied Kaufmann, Corey 12/17/ /17/ /11/2012 2,20400 RENT 2, , (40726) Occupied Wilson, John 05/12/ /01/ /31/ RENT Occupied Dabiri, Parvin 03/12/ /01/ /31/2004 1,04200 RENT 1, , Occupied Garcia, David 09/19/ /19/ /20/2012 1,91500 RENT 1, , Occupied Shah, Ashish 10/09/ /09/ /26/2012 1,91400 RENT 1, , Occupied Peter, Julia 05/05/ /28/ /23/2012 1,80000 RENT 1, , Occupied Bautista, Judy 03/08/ /20/ /14/2012 1,91400 RENT 2, , Occupied Crockom, Darrell 08/06/ /06/ /05/ RENT Occupied Shumilo, Gayane 01/05/ /05/ /04/2009 1,30300 RENT 1, , (9810) Vacant VACANT 1, * 000 * Occupied Vallee, Sebastien 06/27/ /27/ /21/2012 2,07900 RENT 2, , (2,08500) Occupied Dial, Mark 04/17/ /13/ /12/2012 1,91400 RENT 1, , STORAGE Occupied Elem, Evelyn 03/12/ /12/ /31/ RENT (19500) STORAGE Occupied Yau, Arthur 04/08/ /29/ /26/2012 1,81000 RENT 1, , Occupied Yagjian, Cora 11/23/ /01/ /31/ RENT Occupied Jones, Adriana 06/22/ /22/ /30/2002 1,04200 RENT 1, , (98714) Occupied Wells, Derek 07/03/ /03/ /27/2012 1,94000 PARKING , RENT 1, Occupied Moss, Denise 04/10/ /10/ /09/2010 1,30300 RENT 1, , Occupied Ng, Tzu Ming 11/15/ /15/ /05/2012 2,07400 PETFEE , , RENT 2, Occupied Morris, Michael 03/10/ /10/ /04/2012 2,03400 PETFEE , ,06400 (29000) RENT 2, Occupied Tracas, Michael 09/11/ /11/ /29/2012 1,79000 RENT 1, , , Occupied Witt, Alberta 05/01/ /01/ /30/1997 1,04200 RENT 1, , (19800) Occupied Teece, Daniel 06/19/ /28/ /17/2012 2,36300 RENT 2, , (2,60000) Occupied Cleek, Elizabeth 12/10/ /10/ /04/2012 1,81300 RENT 1, , Occupied Doyle, Melissa 10/01/ /01/ /25/2012 2,36300 RENT 2, , Occupied Seubert, Carl 09/11/ /11/ /05/2012 1,81300 RENT 1, , Occupied Zamani, Nahid 02/28/ /01/ /31/ RENT * Indicates amounts not included in detail totals

58 OneSite Rents v30 OneSite Reports - Holly Street Village Page 12 of 16 12/22/2011 3:32:36PM Parameters: Property - ALL; SubJournal - ALL; Formers excluded - Yes; Unit Designation - ALL; RENT ROLL DETAIL As of 12/20/2011 mgt Details Unit Floorplan Unit Designation (30 only) SQFT Unit/Lease Status Name Move-In Move-Out Lease Start Lease End Trans Code Lease Rent Other Charges/ Credits Total Billing Dep On Hand Balance Loft C N/A Loft C N/A Loft C N/A Loft C N/A Loft B N/A Loft B N/A Plan B N/A Loft B N/A Loft E N/A Loft E N/A Loft E N/A 7-G15 Plan C N/A 7-G17 Plan C N/A x3bt N/A Plan T N/A Plan T N/A Plan C N/A x28fc N/A Plan B N/A Plan B N/A Plan B N/A x18fb N/A x2bfc N/A Plan C N/A Plan B N/A Plan B N/A x18fb N/A Plan B N/A Plan A N/A Plan A N/A Occupied Clavecilla, Christine 04/01/ /01/ /31/2012 2,33300 RENT 2, , Occupied Greenberg, Peter 08/12/ /12/ /11/2012 2,47300 RENT 2, , , Occupied Wiesner, Martin 05/19/ /19/ /13/2012 2,38800 RENT 2, , , Occupied Donorovich, Ashley 05/21/ /21/ /20/2012 2,47300 PETFEE , , RENT 2, Occupied Ogorodov, Denis 12/05/ /16/ /10/2012 1,82800 PARKING , , RENT 2, Occupied Klug, David 10/22/ /01/ /29/2012 1,81300 RENT 2, , Occupied Marriott Execustay, * 06/10/ /10/ /09/2012 1,97000 RENT 1, , Occupied 2-K TEK BUSINESS 10/01/ /27/ /21/2012 1,75300 RENT 1, , ,67500 (016) SOLUTIONS, LL, * Occupied Carmody, Brian 09/08/ /08/ /02/2012 2,73600 RENT 2, , (3,16928) Occupied Percival, Jeffrey 07/05/ /10/ /09/2012 2,73600 RENT 2, , , Occupied Collins, Nancy 03/01/ /25/ /20/2012 2,82100 PETFEE , RENT 2, Occupied Astrero, James 09/28/ /21/ /11/2012 1,88900 RENT 2, , Occupied Lee, Paul 09/22/ /18/ /12/2012 2,07400 PETFEE , , RENT 2, Vacant VACANT * 000 * Occupied Hamer, Andrew 07/10/ /10/ /09/2012 3,04500 PETFEE , ,20000 (31060) RENT 3, Occupied Du, Jen-Hsiang 08/16/ /16/ /15/2012 3,04500 RENT 3, , , Occupied Harston, Tiffany 03/09/ /30/ /24/2012 1,83400 RENT 1, , , Occupied McFatter, Stuart 09/22/ /22/ /30/2007 1,30300 RENT 1, , Gavin Occupied Lukesh, Warren 11/08/ /08/ /02/2012 1,76000 RENT 1, , Occupied Kim, Boo 09/01/ /31/ /27/2012 1,71000 RENT 1, , Occupied Morel, Jose 01/15/ /15/ /10/2012 1,76000 RENT 1, , Vacant VACANT 1, * 000 * Occupied Izadi, Behat 11/05/ /05/ /30/ RENT Occupied Urgelles, Jennifer 09/02/ /02/ /30/2012 1,78400 RENT 1, , Occupied Alvarez, Carlota 07/07/ /07/ /24/2012 1,90000 RENT 1, , (712) Occupied Burchfield, Ryan 09/22/ /02/ /26/2012 1,85000 RENT 1, , ,50800 (55548) Occupied Newson, Deborah 10/04/ /04/ /31/1998 1,04200 RENT 1, , (1500) Occupied Oakwood Corporate 12/15/ /15/ /14/2012 1,71000 RENT 1, , Housing, * Occupied Meshkat, Leila 10/19/ /19/ /13/2012 1,59900 RENT 1, , (1430) Occupied Grzecka, Amy 07/24/ /24/ /18/2012 1,59900 RENT 1, , * Indicates amounts not included in detail totals

59 OneSite Rents v30 OneSite Reports - Holly Street Village Page 13 of 16 12/22/2011 3:32:36PM Parameters: Property - ALL; SubJournal - ALL; Formers excluded - Yes; Unit Designation - ALL; RENT ROLL DETAIL As of 12/20/2011 mgt Details Unit Floorplan Unit Designation (30 only) SQFT Unit/Lease Status Name Move-In Move-Out Lease Start Lease End Trans Code Lease Rent Other Charges/ Credits Total Billing Dep On Hand Balance Plan A N/A Plan C N/A x28fc N/A Plan B N/A Plan B N/A Plan B N/A x1bfb N/A Plan A N/A Plan A N/A Plan A N/A Loft C N/A Loft C N/A Loft B N/A Loft B N/A x1blb N/A Loft B N/A Loft 5 N/A Loft 6 N/A Loft 5 N/A Loft 3 N/A HOJ Loft N/A N/A Loft 2 N/A Loft 4 N/A Loft 3 N/A HOJ Loft N/A * Indicates amounts not included in detail totals Occupied Rodriguez, Monica 08/21/ /21/ /15/2012 1,59900 RENT 1, , Occupied Aimaq, Rahim 05/04/ /02/ /24/2012 1,83400 RENT 1, , Occupied Gil, Ivonne 08/05/ /05/ /04/2012 1,30300 RENT 1, , , Occupied Marriott ExecuStay, * 02/15/ /10/ /04/2012 1,90000 RENT 1, , Occupied Herlong, Dwight 10/15/ /15/ /14/2012 1,89500 RENT 1, , ,76068 Occupied Vindeni, Mario 10/07/ /22/ /26/2012 1,76000 RENT 1, , Occupied Hodges, Jasmin 12/22/ /22/ /21/ RENT , Occupied Rivera, Reuben 04/23/ /23/ /17/2012 1,59900 RENT 1, , Occupied Wu, Yi-hsin 12/15/ /08/ /29/2012 1,59900 RENT 1, , Occupied Davis, Edward 07/11/ /11/ /28/2012 1,59900 RENT 1, , Occupied Wittmier, Shawn 09/03/ /03/ /21/2012 2,30800 RENT 2, , Occupied NEW ARMOUR, 03/19/ /19/ /13/2012 2,24800 RENT 2, , INC, * Occupied Martin, Robert 08/22/ /22/ /16/2012 1,78800 RENT 1, , STORAGE Occupied Wada, Steven 03/01/ /19/ /13/2012 1,70300 RENT 2, , Occupied Turner, Kimmie 03/21/ /01/ /31/ RENT Occupied Jimenez Paulino, 11/12/ /12/ /11/2012 1,70300 RENT 1, , Lara Jane Occupied Reitz, Greg 03/26/ /26/ /20/2012 2,20400 EMPLCRED 000 (2,02500) (1693) RENT 2, Occupied Hargis, Paul 02/01/ /21/ /16/2012 2,20400 LAUNDRY , RENT 1, Vacant VACANT 2, * 000 * Occupied Kushner, James 08/17/ /18/ /12/2012 2,20400 LAUNDRY , (2,57400) RENT 2, Occupied Duque, Sergio 01/02/ /29/ /24/2011 3,26600 LAUNDRY , , RENT 2, Pending renewal Duque, Sergio 01/02/ /25/ /19/2012 LAUNDRY 000 * 1400 * 2,75400 * RENT 2,74000 * 000 * Occupied Little, Matthew 05/21/ /21/ /15/2012 2,20400 LAUNDRY , RENT 1, Occupied Kroger, Edward 10/15/ /13/ /12/2012 2,37900 LAUNDRY , (39655) RENT 2, Occupied Brock, Misty 05/18/ /18/ /17/2012 2,27900 EMPLCRED 000 (1,93900) RENT 1, Occupied Tobia, Jr, Stephen 07/13/ /09/ /03/2012 2,63100 LAUNDRY , (524) RENT 2,

60 OneSite Rents v30 OneSite Reports - Holly Street Village Page 14 of 16 12/22/2011 3:32:36PM Parameters: Property - ALL; SubJournal - ALL; Formers excluded - Yes; Unit Designation - ALL; RENT ROLL DETAIL As of 12/20/2011 mgt Details Unit Floorplan Unit Designation (30 only) SQFT Unit/Lease Status Name Move-In Move-Out Lease Start Lease End Trans Code Lease Rent Other Charges/ Credits Total Billing Dep On Hand Balance Loft 2 N/A Loft 4 N/A Loft 3 N/A HOJ Loft N/A Loft 2 N/A Loft 4 N/A Loft 3 N/A Occupied Vega, Tanya 02/13/ /08/ /03/2012 2,20400 LAUNDRY , PETFEE RENT 1, Occupied Levitt, Cindy 09/10/ /10/ /04/2012 2,20400 LAUNDRY , RENT 1, Occupied Wilson, Jack 06/25/ /26/ /19/2012 2,25400 LAUNDRY , RENT 2, Occupied Kimball, Shelley 09/01/ /19/ /13/2012 3,12600 LAUNDRY , RENT 2, Occupied Falls, Jonathan 04/01/ /01/ /26/2012 2,30900 LAUNDRY , PETFEE RENT 1, Occupied Staehling, Beth 02/11/ /18/ /14/2012 2,20400 LAUNDRY , RENT 1, Occupied Griffith, Irene 07/01/ /01/ /25/2012 2,50400 LAUNDRY , (2,37668) RENT 2, Totals: 661, ,80000 (6,85500) 606, ,23400 * Indicates amounts not included in detail totals

61 OneSite Rents v30 OneSite Reports - Holly Street Village Page 15 of 16 12/22/2011 3:32:36PM Parameters: Property - ALL; SubJournal - ALL; Formers excluded - Yes; Unit Designation - ALL; Amt / SQFT: Market = 327,733 SQFT; Leased = 311,394 SQFT; RENT ROLL DETAIL As of 12/20/2011 mgt Floorplan # Units Average SQFT Market Amt / SQFT Average Leased Leased Units Amt / SQFT Occupied Occupancy % Units Available 1x18fa , , x18fb , , x18ff , , x18fg , , x18lb , , x1bfa x1bfb x1bff x1blb x28fc , , x28fe 1 1,040 1, , x28fh 2 1,020 1, , x28lc 1 1,099 1, , x2bfc x2bfd 2 1, x2bfe 1 1, x2bfh 1 1, x2blc 3 1, x2bld 1 1, x3bt 1 1, HOJ Loft 3 1,834 3, , Loft 2 3 1,267 2, , Loft 3 4 1,093 2, , Loft 4 3 1,391 2, , Loft 5 2 1,583 2, , Loft 6 1 1,203 2, , Loft B , , Loft C 30 1,099 2, , Loft H 2 1,164 2, , Plan A , , Plan B , , Plan C , , Plan D 10 1,020 2, , Plan E 8 1,040 2, , Plan G , ,

62 OneSite Rents v30 OneSite Reports - Holly Street Village Page 16 of 16 12/22/2011 3:32:36PM Parameters: Property - ALL; SubJournal - ALL; Formers excluded - Yes; Unit Designation - ALL; Amt / SQFT: Market = 327,733 SQFT; Leased = 311,394 SQFT; RENT ROLL DETAIL As of 12/20/2011 mgt Floorplan # Units Average SQFT Market Amt / SQFT Average Leased Leased Units Amt / SQFT Occupied Occupancy % Units Available Plan H 11 1,020 2, , Plan T 2 1,412 3, , Loft D 3 1,164 2, , Loft E 3 1,184 2, , Loft G , , Totals / Averages: , , Occupancy and Rents Summary for Date Unit Status # Units Potential Rent Occupied, no NTV 621, ,39900 Occupied, NTV 10, ,40100 Occupied NTV Leased Vacant Leased 2, ,55500 Admin/Down Vacant Not Leased 27, ,03800 Totals: 661, ,39300 Summary Billing by Transaction Code for Date Code Amount BUNG (1,89900) EMPLCRED (6,19800) LAUNDRY MODEL (3,72500) PARKING 1,05000 PETFEE 2,08500 RENT 613,80000 STORAGE Total: 1, ,94500

63 OneSite Rents v30 OneSite Reports - Holly Street Village Page 1 of 16 12/22/2011 3:32:42PM Parameters: Report Type: Details Subproperties: ALL Subjournals: ALL DELINQUENT AND PREPAID As of 12/20/2011 Statuses to include: Applicant,Approved applicant,former applicant,pending resident, resident,former resident; Include delinquencies that equal NTV Credit? Yes; Exclude transactions payable in arrears: No; Delinquency range 0 through ; Aging Columns: Fiscal; Filter type: ALL; Summaries: Summary by Transaction Code Only; Show Prepaid As Allocated: No; Include outstanding deposits: No; Detail Account(s) Unit Name Phone Number Status Move-In/ Out Code Description Total Prepaid Total Delinquent Net Balance 30 Days 60 Days 90+ Days Prorate Credits Deposits Held Outstanding Deposit # Late/ # NSF WAIT Martin, Denise denisemartin@union bankcom Applicant PMTCHECK (10000) 000 (10000) (10000) /0 WAIT Williams, Venise jzzzzd@gmailcom Applicant PMTCHECK (10000) 000 (10000) (10000) / Manafi, Farideh 07/25/2009 (734) resident fari027@yahoocom PMTOPACH (1000) 000 (1000) (1000) / Lareen, Naomi 09/26/2008 (626) resident PMTCHECK (6600) 000 (6600) (6600) / Oakwood Corporate Housing, * (818) Hbarra@oakwoodco m resident 01/17/2011 PMTOPIRD (45751) 000 (45751) (45751) / Ziegler, Robie 08/10/2011 (702) resident robieziegler@aolcom PMTCHECK (1,43754) 000 (1,43754) (1,43754) / Espadas, Michelle (909) michelleespadas@g mailcom resident 09/30/2011 PMTCHECK (085) 000 (085) (085) Key Housing, * NTV 04/28/2011 RENT , /0 (916) bobl@keyhousingco m 12/30/2011 LATEFEE Subtotals: / Richardson, Brett 09/16/2011 (714) resident bbilly29@hotmailcom RENT /0 DEL Comment: Served 3 Day Notice(12/06/2011;MBrock) * -- Resident is under eviction -- Balance due includes NSF transaction(s) Please refer to the appropriate ledger for more information -- Includes amounts that are 120+ days past due -- Cash basis charge codes: Income account will match the AR account ** -- The resident count total delinquent number is the number of unique residents that are delinquent It may not be equal to the sum of the current, 30, 60, and 90+ delinquencies

64 OneSite Rents v30 OneSite Reports - Holly Street Village Page 2 of 16 12/22/2011 3:32:42PM Parameters: Report Type: Details Subproperties: ALL Subjournals: ALL DELINQUENT AND PREPAID As of 12/20/2011 Statuses to include: Applicant,Approved applicant,former applicant,pending resident, resident,former resident; Include delinquencies that equal NTV Credit? Yes; Exclude transactions payable in arrears: No; Delinquency range 0 through ; Aging Columns: Fiscal; Filter type: ALL; Summaries: Summary by Transaction Code Only; Show Prepaid As Allocated: No; Include outstanding deposits: No; Detail Account(s) Unit Name Phone Number Status Move-In/ Out Code Description Total Prepaid Total Delinquent Net Balance 30 Days 60 Days 90+ Days Prorate Credits Deposits Held Outstanding Deposit # Late/ # NSF II, M I G 12/ 1/2001 resident RETAIL , / Jones, Edward 07/ 1/1998 resident PMTOPIRD (63793) 000 (63793) (63793) , / McLaughlin, Dolores (626) dmclaughlinxxx@hot mailcom resident 09/12/2011 RENT , / Velazco, Ramon 09/28/2010 (626) resident no @hotmailcom RENT , /3 DEL Comment: Sent Ramon a balance due letter; along with copies of ledger showing he already had a late fee waived in May 2011 as a one time courtesy(12/09/2011;mbrock) Elmer, Emily (661) emily_elmer@ c om Former resident 12/20/2011 PMTOPACH (45811) 000 (45811) (45811) / Toda, Kevin (626) kevintoda@gmailco m resident 11/15/2010 PMTOPACH (53177) 000 (53177) (53177) / Marriott Execustay, * 04/22/2011 joyceclose@marriott resident com PMTCHECK (2523) 000 (2523) (2523) / Ching, John 04/ 8/2011 jchingv66@hotmailco resident m PMTOPACH (15680) 000 (15680) (15680) / Brown, Arlessie 09/17/1999 (626) resident PMTOPACH (23080) 000 (23080) (23080) / Cook, Lory 02/ 8/2001 (626) resident PMTOPACH (400) 000 (400) (400) /0 * -- Resident is under eviction -- Balance due includes NSF transaction(s) Please refer to the appropriate ledger for more information -- Includes amounts that are 120+ days past due -- Cash basis charge codes: Income account will match the AR account ** -- The resident count total delinquent number is the number of unique residents that are delinquent It may not be equal to the sum of the current, 30, 60, and 90+ delinquencies

65 OneSite Rents v30 OneSite Reports - Holly Street Village Page 3 of 16 12/22/2011 3:32:42PM Parameters: Report Type: Details Subproperties: ALL Subjournals: ALL DELINQUENT AND PREPAID As of 12/20/2011 Statuses to include: Applicant,Approved applicant,former applicant,pending resident, resident,former resident; Include delinquencies that equal NTV Credit? Yes; Exclude transactions payable in arrears: No; Delinquency range 0 through ; Aging Columns: Fiscal; Filter type: ALL; Summaries: Summary by Transaction Code Only; Show Prepaid As Allocated: No; Include outstanding deposits: No; Detail Account(s) Unit Name Phone Number Status Move-In/ Out Code Description Total Prepaid Total Delinquent Net Balance 30 Days 60 Days 90+ Days Prorate Credits Deposits Held Outstanding Deposit # Late/ # NSF Blake, Kelli 07/23/2011 resident PMTCHECK (1,56600) 000 (1,56600) (1,56600) / Oakwood Corporate Housing, * (800) no @sares-regis com resident 01/15/2009 PMTCHECK (5084) 000 (5084) (5084) / Boyer, Calvin (434) calvininpasadena@g mailcom resident 02/15/2007 PMTOPACH (92333) 000 (92333) (92333) / Lee, Stephen W 05/15/2010 (949) resident swl1010@gmailcom PMTOPACH (6428) 000 (6428) (6428) / Zasa, Robert Joseph 11/30/2011 rzasa1@earthlinknet resident RENT /0 DEL Comment: Spoke to Robert; he thought he paid December`s rent when he moved in He will be back in town Monday, 12/12 and will pay in full I faxed/ ed him copies of his ledger(12/09/2011;mbrock) Sifling, Jayme L (213) gynadenisel@gmailc om resident 12/15/2011 PMTCHECK (12519) 000 (12519) (12519) / Monty, Antoinette (626) AMontepiano@hotmai lcom resident 01/31/2011 PMTCHECK (16314) 000 (16314) (16314) / Plaid, Cheyvee 08/30/2009 (626) resident sdrollove@yahoocom RENT , / Almond, Whitney (734) whitney021687@hotm ailcom Yi, Evan Seung 07/23/2010 (808) resident evanyi9@gmailcom Applicant APPFEE /0 PMTOPACH (28191) 000 (28191) (28191) /0 * -- Resident is under eviction -- Balance due includes NSF transaction(s) Please refer to the appropriate ledger for more information -- Includes amounts that are 120+ days past due -- Cash basis charge codes: Income account will match the AR account ** -- The resident count total delinquent number is the number of unique residents that are delinquent It may not be equal to the sum of the current, 30, 60, and 90+ delinquencies

66 OneSite Rents v30 OneSite Reports - Holly Street Village Page 4 of 16 12/22/2011 3:32:42PM Parameters: Report Type: Details Subproperties: ALL Subjournals: ALL DELINQUENT AND PREPAID As of 12/20/2011 Statuses to include: Applicant,Approved applicant,former applicant,pending resident, resident,former resident; Include delinquencies that equal NTV Credit? Yes; Exclude transactions payable in arrears: No; Delinquency range 0 through ; Aging Columns: Fiscal; Filter type: ALL; Summaries: Summary by Transaction Code Only; Show Prepaid As Allocated: No; Include outstanding deposits: No; Detail Account(s) Unit Name Phone Number Status Move-In/ Out Code Description Total Prepaid Total Delinquent Net Balance 30 Days 60 Days 90+ Days Prorate Credits Deposits Held Outstanding Deposit # Late/ # NSF Jukes, Stephanie 12/19/2011 sjukes@sares-regisc resident om RENT / Youngblood, Betty 09/ 1/1994 (626) resident PMTCHECK (29870) 000 (29870) (29870) / Senkandwa, Harriet 07/28/2007 (626) resident PMTCHECK (35773) 000 (35773) (35773) , / Hafen, Landon 09/ 7/2011 (203) resident hafen5@aolcom LATEFEE / Martinez, Christy 06/11/2011 christymartinez83@ya resident hoocom RENT , / Phadtare, Parag NTV 08/23/2011 RENT /0 (517) parag_022@yahooco m 12/21/2011 PMTOPACH (5400) 000 (5400) Subtotals: (5400) 000 (5400) (5400) Pickens, LaDonne 04/16/2011 no@sares-regiscom resident PMTOPACH (3336) 000 (3336) (3336) / Ware, Elisa 12/ 1/1994 (626) resident RENT /1 DEL Comment: Served 3 Day Notice(12/06/2011;MBrock) Rios, Jose 07/18/2001 (626) resident RENT / Samsami, Hedayat 10/27/2005 (626) resident PMTOPACH (17000) 000 (17000) (17000) /0 * -- Resident is under eviction -- Balance due includes NSF transaction(s) Please refer to the appropriate ledger for more information -- Includes amounts that are 120+ days past due -- Cash basis charge codes: Income account will match the AR account ** -- The resident count total delinquent number is the number of unique residents that are delinquent It may not be equal to the sum of the current, 30, 60, and 90+ delinquencies

67 OneSite Rents v30 OneSite Reports - Holly Street Village Page 5 of 16 12/22/2011 3:32:42PM Parameters: Report Type: Details Subproperties: ALL Subjournals: ALL DELINQUENT AND PREPAID As of 12/20/2011 Statuses to include: Applicant,Approved applicant,former applicant,pending resident, resident,former resident; Include delinquencies that equal NTV Credit? Yes; Exclude transactions payable in arrears: No; Delinquency range 0 through ; Aging Columns: Fiscal; Filter type: ALL; Summaries: Summary by Transaction Code Only; Show Prepaid As Allocated: No; Include outstanding deposits: No; Detail Account(s) Unit Name Phone Number Status Move-In/ Out Code Description Total Prepaid Total Delinquent Net Balance 30 Days 60 Days 90+ Days Prorate Credits Deposits Held Outstanding Deposit # Late/ # NSF Hernandez, Adrian 11/25/2011 dangee88@yahooco resident m PMTOPACH (10000) 000 (10000) (10000) , / Gichuhi, Grace 01/29/2011 kijohh@yahoocom resident PMTOPACH (095) 000 (095) (095) / Luke, Janett 02/ 1/2005 (626) resident PMTCHECK (4450) 000 (4450) (4450) / Thomas, Monique (323) mlthomas74@hotmail com resident 12/29/2009 DEL Comment: Served 3 Day Notice(12/06/2011;MBrock) RENT / Daryaie, Shahindokh 06/27/2003 (626) resident PMTCHECK (600) 000 (600) (600) / Sanchez, Blanca M 11/21/2007 (626) resident PMTCHECK (50825) 000 (50825) (50825) / Cox, Corey 07/16/2011 coreycoxcalifornia@y resident ahoocom PMTOPIRD (3483) 000 (3483) (3483) , / Marriott Execustay, * 05/ 2/2011 joyceclose@marriott resident com RENT / Gonzalez, Juan (323) jcgmm9013@gmailco m resident 10/17/2011 PMTOPACH (038) 000 (038) (038) , / Simonsen, Austen (801) no @saresregisc om resident 10/22/2011 RENT , /0 * -- Resident is under eviction -- Balance due includes NSF transaction(s) Please refer to the appropriate ledger for more information -- Includes amounts that are 120+ days past due -- Cash basis charge codes: Income account will match the AR account ** -- The resident count total delinquent number is the number of unique residents that are delinquent It may not be equal to the sum of the current, 30, 60, and 90+ delinquencies

68 OneSite Rents v30 OneSite Reports - Holly Street Village Page 6 of 16 12/22/2011 3:32:42PM Parameters: Report Type: Details Subproperties: ALL Subjournals: ALL DELINQUENT AND PREPAID As of 12/20/2011 Statuses to include: Applicant,Approved applicant,former applicant,pending resident, resident,former resident; Include delinquencies that equal NTV Credit? Yes; Exclude transactions payable in arrears: No; Delinquency range 0 through ; Aging Columns: Fiscal; Filter type: ALL; Summaries: Summary by Transaction Code Only; Show Prepaid As Allocated: No; Include outstanding deposits: No; Detail Account(s) Unit Name Phone Number Status Move-In/ Out Code Description Total Prepaid Total Delinquent Net Balance 30 Days 60 Days 90+ Days Prorate Credits Deposits Held Outstanding Deposit # Late/ # NSF Knox, Barsha 08/30/2011 barshaknox@rocketm resident ailcom PMTCHECK (34394) 000 (34394) (34394) / Morgan, Shaunda (323) shaundamonique@ho tmailcom resident 02/ 5/2011 PMTOPACH (675) 000 (675) (675) / Bentley, Marjorie 09/22/1996 (626) resident PMTOPACH (44200) 000 (44200) (44200) / Ford, Barbara (626) no @sares-regis com resident 06/ 1/2010 PMTCHECK (17517) 000 (17517) (17517) / Large, Adrienne 08/ 3/2011 natrlbornleader@gmai resident lcom PMTOPIRD (4091) 000 (4091) (4091) , / Firoozy, Molouk 08/ 1/1994 (626) resident PMTCHECK (200) 000 (200) (200) / Regency Corporate Living, * (858) dylanmurphy@regenc ycorporatelivingcom resident 11/11/2011 RENT / Guerrero, Mellissa 03/15/2010 (626) resident Mguerrero@cscaedu PMTOPIRD (13711) 000 (13711) (13711) / Goudeau, Julia 11/29/2003 (626) resident PMTOPACH (6606) 000 (6606) (6606) , / Vora, Shruti 07/18/2011 ssvora8@gmailcom resident PMTOPACH (3500) 000 (3500) (3500) /0 * -- Resident is under eviction -- Balance due includes NSF transaction(s) Please refer to the appropriate ledger for more information -- Includes amounts that are 120+ days past due -- Cash basis charge codes: Income account will match the AR account ** -- The resident count total delinquent number is the number of unique residents that are delinquent It may not be equal to the sum of the current, 30, 60, and 90+ delinquencies

69 OneSite Rents v30 OneSite Reports - Holly Street Village Page 7 of 16 12/22/2011 3:32:42PM Parameters: Report Type: Details Subproperties: ALL Subjournals: ALL DELINQUENT AND PREPAID As of 12/20/2011 Statuses to include: Applicant,Approved applicant,former applicant,pending resident, resident,former resident; Include delinquencies that equal NTV Credit? Yes; Exclude transactions payable in arrears: No; Delinquency range 0 through ; Aging Columns: Fiscal; Filter type: ALL; Summaries: Summary by Transaction Code Only; Show Prepaid As Allocated: No; Include outstanding deposits: No; Detail Account(s) Unit Name Phone Number Status Move-In/ Out Code Description Total Prepaid Total Delinquent Net Balance 30 Days 60 Days 90+ Days Prorate Credits Deposits Held Outstanding Deposit # Late/ # NSF Towns, Jeneal (626) no @sares-regis com resident 09/ 1/2010 PMTCHECK (300) 000 (300) (300) / Carlson, Stephanie 06/ 1/2011 Stephanie@ernliveco resident m PMTOPACH (3126) 000 (3126) (3126) , / Thompson, Sharon 07/12/2003 (626) resident PMTOPIRD (065) 000 (065) (065) / Mesmer, Ethan (310) ethan@mesmermedia com resident 11/18/2004 RENT / Castillo, Edilzar 04/22/2011 eecastillo32@yahooc resident om RENT / Offutt, Tressa (626) no @sares-regis com resident 08/30/ Van Der Touw, Renee (626) iplaywithscissors2@g mailcom resident 03/29/2010 PMTCHECK (18294) 000 (18294) (18294) PMTOPIRD (44337) 000 (44337) (44337) Cerny, Lindsey NTV 07/25/2011 PMTOPIRD (001) 000 (001) (001) , /0 lindscerny@gmailco 01/21/2012 m 0/0 0/ Haber, Mark 08/23/2005 (626) resident PMTCHECK (26500) 000 (26500) (26500) / Graves, Jason (248) jtgraves35@yahooco m resident 12/ 1/2009 PMTOPACH (003) 000 (003) (003) , /0 * -- Resident is under eviction -- Balance due includes NSF transaction(s) Please refer to the appropriate ledger for more information -- Includes amounts that are 120+ days past due -- Cash basis charge codes: Income account will match the AR account ** -- The resident count total delinquent number is the number of unique residents that are delinquent It may not be equal to the sum of the current, 30, 60, and 90+ delinquencies

70 OneSite Rents v30 OneSite Reports - Holly Street Village Page 8 of 16 12/22/2011 3:32:42PM Parameters: Report Type: Details Subproperties: ALL Subjournals: ALL DELINQUENT AND PREPAID As of 12/20/2011 Statuses to include: Applicant,Approved applicant,former applicant,pending resident, resident,former resident; Include delinquencies that equal NTV Credit? Yes; Exclude transactions payable in arrears: No; Delinquency range 0 through ; Aging Columns: Fiscal; Filter type: ALL; Summaries: Summary by Transaction Code Only; Show Prepaid As Allocated: No; Include outstanding deposits: No; Detail Account(s) Unit Name Phone Number Status Move-In/ Out Code Description Total Prepaid Total Delinquent Net Balance 30 Days 60 Days 90+ Days Prorate Credits Deposits Held Outstanding Deposit # Late/ # NSF Ward, Saraan 10/26/2006 (626) resident PMTOPIRD (100) 000 (100) (100) / PC Housing, * (800) aguerin@pchousingc om resident 06/15/2011 RENT LATEFEE Subtotals: / Kamali, Roza 08/ 7/2010 (626) resident no @yahoocom PMTCHECK (001) 000 (001) (001) / Eiler, Janis (626) janiseiler@earthlinkn et resident 06/ 6/2009 RENT / Fagundes, David (202) dfagundes@swlawed u resident 11/29/2009 PMTOPACH (29717) 000 (29717) (29717) / Ramos, Mario (626) no- @sares-regis com resident 07/31/2009 RENT / CSDS AIRCRAFT SALES LEASING I, Ben (310) mcfl@attnet resident 03/11/2011 RENT / Spragg, Melissa 05/25/2011 missyspragg@hotmail resident com RENT , /0 DEL Comment: Served 3 Day Notice(12/06/2011;MBrock) Loo, Paul 09/15/2003 (626) resident PMTCHECK (64100) 000 (64100) (64100) /0 * -- Resident is under eviction -- Balance due includes NSF transaction(s) Please refer to the appropriate ledger for more information -- Includes amounts that are 120+ days past due -- Cash basis charge codes: Income account will match the AR account ** -- The resident count total delinquent number is the number of unique residents that are delinquent It may not be equal to the sum of the current, 30, 60, and 90+ delinquencies

71 OneSite Rents v30 OneSite Reports - Holly Street Village Page 9 of 16 12/22/2011 3:32:42PM Parameters: Report Type: Details Subproperties: ALL Subjournals: ALL DELINQUENT AND PREPAID As of 12/20/2011 Statuses to include: Applicant,Approved applicant,former applicant,pending resident, resident,former resident; Include delinquencies that equal NTV Credit? Yes; Exclude transactions payable in arrears: No; Delinquency range 0 through ; Aging Columns: Fiscal; Filter type: ALL; Summaries: Summary by Transaction Code Only; Show Prepaid As Allocated: No; Include outstanding deposits: No; Detail Account(s) Unit Name Phone Number Status Move-In/ Out Code Description Total Prepaid Total Delinquent Net Balance 30 Days 60 Days 90+ Days Prorate Credits Deposits Held Outstanding Deposit # Late/ # NSF Sci Live, Inc, * (625) no @sares-regis com resident 12/ 8/2011 PMTOPIRD (33000) 000 (33000) (33000) / Kearney, Ellyn P 10/30/1994 (626) resident PMTCHECK (600) 000 (600) (600) / Marchionda, Frankie 05/16/2005 resident PMTOPACH (2255) 000 (2255) (2255) / Taylor-Wheat, Madeline (626) no @sares-regis com resident 04/ 1/ Hadley, Amber (626) genesis @yah oocom resident 03/30/ Miller, Jennifer (626) marshen@aolcom RENT RENT , Applicant APPFEE /0 0/1 2/ Oakwood, * 07/ 7/2011 mkaspar@oakwoodc resident om RENT LATEFEE /0 Subtotals: Kong, Nancy (909) nancykong@yahooco m resident 08/24/2011 RENT / Williams, Wynter (310) wynterwilliams10@ya hoocom resident 05/ 1/2009 RENT / Wilson, Toni 04/ 1/2011 no @sares-regis resident com PMTOPIRD (43728) 000 (43728) (43728) /0 * -- Resident is under eviction -- Balance due includes NSF transaction(s) Please refer to the appropriate ledger for more information -- Includes amounts that are 120+ days past due -- Cash basis charge codes: Income account will match the AR account ** -- The resident count total delinquent number is the number of unique residents that are delinquent It may not be equal to the sum of the current, 30, 60, and 90+ delinquencies

72 OneSite Rents v30 OneSite Reports - Holly Street Village Page 10 of 16 12/22/2011 3:32:42PM Parameters: Report Type: Details Subproperties: ALL Subjournals: ALL DELINQUENT AND PREPAID As of 12/20/2011 Statuses to include: Applicant,Approved applicant,former applicant,pending resident, resident,former resident; Include delinquencies that equal NTV Credit? Yes; Exclude transactions payable in arrears: No; Delinquency range 0 through ; Aging Columns: Fiscal; Filter type: ALL; Summaries: Summary by Transaction Code Only; Show Prepaid As Allocated: No; Include outstanding deposits: No; Detail Account(s) Unit Name Phone Number Status Move-In/ Out Code Description Total Prepaid Total Delinquent Net Balance 30 Days 60 Days 90+ Days Prorate Credits Deposits Held Outstanding Deposit # Late/ # NSF Lal, Shalini 05/21/2011 drshalinilal@gmailco resident m RENT / Sumarli, Dominic (310) domi2609@hotmailc om resident 12/18/2010 PMTOPACH (15851) 000 (15851) (15851) / Flores, Marlene 08/11/2006 (626) resident PMTCHECK (64200) 000 (64200) (64200) / Rundall, Yang 07/ 6/2011 victoriawrundall@gma resident ilcom PMTCHECK (27177) 000 (27177) (27177) / Elsberry, Mary (626) no @sares-regis com resident 04/ 1/2011 RENT / Blackmon, Amy (626) amypasadena@yahoo com resident 07/31/2010 RENT / Oakwood Corporate Housing, * (818) hbarra@oakwoodco m resident 03/ 3/2010 PMTCHECK (1,35911) 000 (1,35911) (1,35911) / Brooks, Bobbie 04/ 1/2011 bobbiebrooks@sbcgl resident obalnet RENT 000 2, , LATEFEE , /1 NSFFEE PETFEE ELEC UTILITY WATER * -- Resident is under eviction -- Balance due includes NSF transaction(s) Please refer to the appropriate ledger for more information -- Includes amounts that are 120+ days past due -- Cash basis charge codes: Income account will match the AR account ** -- The resident count total delinquent number is the number of unique residents that are delinquent It may not be equal to the sum of the current, 30, 60, and 90+ delinquencies

73 OneSite Rents v30 OneSite Reports - Holly Street Village Page 11 of 16 12/22/2011 3:32:42PM Parameters: Report Type: Details Subproperties: ALL Subjournals: ALL DELINQUENT AND PREPAID As of 12/20/2011 Statuses to include: Applicant,Approved applicant,former applicant,pending resident, resident,former resident; Include delinquencies that equal NTV Credit? Yes; Exclude transactions payable in arrears: No; Delinquency range 0 through ; Aging Columns: Fiscal; Filter type: ALL; Summaries: Summary by Transaction Code Only; Show Prepaid As Allocated: No; Include outstanding deposits: No; Detail Account(s) Unit Name Phone Number Status Move-In/ Out Code Description Total Prepaid Total Delinquent Net Balance 30 Days 60 Days 90+ Days Prorate Credits Deposits Held Outstanding Deposit # Late/ # NSF TRASH GAS SEWER Subtotals: 000 2, , , DEL Comment: Forwarding to attorney (12/17/2011;MBrock) Oakwood Corporate 02/25/2005 Housing, * resident PMTCHECK (6843) 000 (6843) (6843) / Communities, Episcopal Homes pbuchanan@episcopa lhomeog resident 07/ 8/2010 PMTCHECK (2,02451) (2,02451) PMTOPIRD (7,28729) 000 (7,28729) Subtotals: (9,31180) 000 (9,31180) (7,28729) (2,02451) , / Tanning, Santoyo (626) hollystreet@sares-reg iscom resident 06/ 4/2010 RETAIL 000 1, , , DEL Comment: Spoke to owner and she will have rent + Cam on Monday the 12th(12/09/2011;MBrock) 5, / Horning, Donald (574) lisa9368@sbcglobaln et resident 12/ 8/2010 PMTOPACH (23874) 000 (23874) (23874) / Kaufmann, Corey 12/17/2011 coreykaufman@gmai resident lcom TSFRFROM (40726) 000 (40726) (40726) / Dabiri, Parvin 03/12/1994 (626) resident RENT / Crockom, Darrell 08/ 6/2008 (626) resident RENT /0 * -- Resident is under eviction -- Balance due includes NSF transaction(s) Please refer to the appropriate ledger for more information -- Includes amounts that are 120+ days past due -- Cash basis charge codes: Income account will match the AR account ** -- The resident count total delinquent number is the number of unique residents that are delinquent It may not be equal to the sum of the current, 30, 60, and 90+ delinquencies

74 OneSite Rents v30 OneSite Reports - Holly Street Village Page 12 of 16 12/22/2011 3:32:42PM Parameters: Report Type: Details Subproperties: ALL Subjournals: ALL DELINQUENT AND PREPAID As of 12/20/2011 Statuses to include: Applicant,Approved applicant,former applicant,pending resident, resident,former resident; Include delinquencies that equal NTV Credit? Yes; Exclude transactions payable in arrears: No; Delinquency range 0 through ; Aging Columns: Fiscal; Filter type: ALL; Summaries: Summary by Transaction Code Only; Show Prepaid As Allocated: No; Include outstanding deposits: No; Detail Account(s) Unit Name Phone Number Status Move-In/ Out Code Description Total Prepaid Total Delinquent Net Balance 30 Days 60 Days 90+ Days Prorate Credits Deposits Held Outstanding Deposit # Late/ # NSF Shumilo, Gayane (626) stepan1917@gmailc om resident 01/ 5/2008 PMTCHECK (9810) 000 (9810) (9810) / Vallee, Sebastien 06/27/2011 sebastien_valet@redl resident andsedu PMTCHECK (2,08500) 000 (2,08500) (2,08500) / Elem, Evelyn 03/12/2005 (626) resident PMTOPACH (19500) 000 (19500) (19500) / Yau, Arthur Chi (626) centroparts@gmailco m resident 04/ 8/2011 RENT / Jones, Adriana 06/22/2001 (626) resident PMTCHECK (82800) 000 (82800) PMTOPACH (15914) 000 (15914) /0 Subtotals: (98714) 000 (98714) (98714) Wells, Derek 07/ 3/2011 1hero@msncom resident RENT /1 DEL Comment: Sent balance due letter for late fee still owed(12/09/2011;mbrock) Moss, Denise (626) dmtobs2008@yahoo com resident 04/10/2009 RENT / Morris, Michael 03/10/2011 mwmwdc@gmailcom resident PMTOPACH (29000) 000 (29000) (29000) , / Witt, Alberta 05/ 1/1994 (626) resident PMTCHECK (19800) 000 (19800) (19800) / Teece, Daniel 06/19/2011 no @sares-regis resident com PMTOPACH (2,60000) 000 (2,60000) (2,60000) /0 * -- Resident is under eviction -- Balance due includes NSF transaction(s) Please refer to the appropriate ledger for more information -- Includes amounts that are 120+ days past due -- Cash basis charge codes: Income account will match the AR account ** -- The resident count total delinquent number is the number of unique residents that are delinquent It may not be equal to the sum of the current, 30, 60, and 90+ delinquencies

75 OneSite Rents v30 OneSite Reports - Holly Street Village Page 13 of 16 12/22/2011 3:32:42PM Parameters: Report Type: Details Subproperties: ALL Subjournals: ALL DELINQUENT AND PREPAID As of 12/20/2011 Statuses to include: Applicant,Approved applicant,former applicant,pending resident, resident,former resident; Include delinquencies that equal NTV Credit? Yes; Exclude transactions payable in arrears: No; Delinquency range 0 through ; Aging Columns: Fiscal; Filter type: ALL; Summaries: Summary by Transaction Code Only; Show Prepaid As Allocated: No; Include outstanding deposits: No; Detail Account(s) Unit Name Phone Number Status Move-In/ Out Code Description Total Prepaid Total Delinquent Net Balance 30 Days 60 Days 90+ Days Prorate Credits Deposits Held Outstanding Deposit # Late/ # NSF Cleek, Elizabeth A 12/10/2011 ecleek@sbcglobalnet resident RENT / Marriott Execustay, * 06/10/2011 jonathanbutcher@ma resident rriottcom RENT / K Tek Business Solutions, * (626) ktek@businesssoluti onscom resident 10/ 1/2010 PMTOPACH (016) 000 (016) (016) , / Carmody, Brian 09/ 8/2008 (760) resident PMTOPIRD (3,16928) 000 (3,16928) (3,16928) / Hamer, Andrew Q 07/10/2011 hameraq@gmailcom resident PMTOPACH (31060) 000 (31060) 000 (31060) , / Morel, Jose Vidal 01/15/2011 (786) resident jae0579@gmailcom PARKING / Urgelles, Jennifer 09/ 2/2011 jennyu919@hotmailc resident om RENT /0 DEL Comment: Served 3 Day Notice(12/06/2011;MBrock) Alvarez, Carlota Elena 07/ 7/2011 (626) resident elena_72@hotmailco PMTOPACH (712) 000 (712) (712) / Burchfield, Ryan (310) ryanburchfield@chart ernet resident 09/22/2008 PMTOPACH (55548) 000 (55548) (55548) , / Newson, Deborah 10/ 4/1997 (626) resident PMTCHECK (1500) 000 (1500) (1500) /0 * -- Resident is under eviction -- Balance due includes NSF transaction(s) Please refer to the appropriate ledger for more information -- Includes amounts that are 120+ days past due -- Cash basis charge codes: Income account will match the AR account ** -- The resident count total delinquent number is the number of unique residents that are delinquent It may not be equal to the sum of the current, 30, 60, and 90+ delinquencies

76 OneSite Rents v30 OneSite Reports - Holly Street Village Page 14 of 16 12/22/2011 3:32:42PM Parameters: Report Type: Details Subproperties: ALL Subjournals: ALL DELINQUENT AND PREPAID As of 12/20/2011 Statuses to include: Applicant,Approved applicant,former applicant,pending resident, resident,former resident; Include delinquencies that equal NTV Credit? Yes; Exclude transactions payable in arrears: No; Delinquency range 0 through ; Aging Columns: Fiscal; Filter type: ALL; Summaries: Summary by Transaction Code Only; Show Prepaid As Allocated: No; Include outstanding deposits: No; Detail Account(s) Unit Name Phone Number Status Move-In/ Out Code Description Total Prepaid Total Delinquent Net Balance 30 Days 60 Days 90+ Days Prorate Credits Deposits Held Outstanding Deposit # Late/ # NSF Meshkat, Leila 10/19/2002 lm9j@yahoocom resident PMTOPACH (1430) 000 (1430) (1430) / Gil, Ivonne 08/ 5/2011 no @sares-regis resident com RENT LATEFEE , /0 Subtotals: Marriott ExecuStay, * (626) Mariasflores@marrio ttcom resident 02/15/2011 RENT / Herlong, Dwight (626) dwightcherlong@kp org resident 10/15/2011 RENT 000 1, , LATEFEE TRASH /0 WATER UTILITY GAS SEWER Subtotals: 000 1, , , DEL Comment: Served 3 Day Notice(12/06/2011;MBrock) Turner, Kimmie 03/21/1994 (626) resident RENT /0 DEL Comment: Served 3 Day Notice(12/06/2011;MBrock) Reitz, Greg 03/26/2011 greitz@sares-regisco resident m WATER (1693) 000 (1693) (1693) /0 * -- Resident is under eviction -- Balance due includes NSF transaction(s) Please refer to the appropriate ledger for more information -- Includes amounts that are 120+ days past due -- Cash basis charge codes: Income account will match the AR account ** -- The resident count total delinquent number is the number of unique residents that are delinquent It may not be equal to the sum of the current, 30, 60, and 90+ delinquencies

77 OneSite Rents v30 OneSite Reports - Holly Street Village Page 15 of 16 12/22/2011 3:32:42PM Parameters: Report Type: Details Subproperties: ALL Subjournals: ALL DELINQUENT AND PREPAID As of 12/20/2011 Statuses to include: Applicant,Approved applicant,former applicant,pending resident, resident,former resident; Include delinquencies that equal NTV Credit? Yes; Exclude transactions payable in arrears: No; Delinquency range 0 through ; Aging Columns: Fiscal; Filter type: ALL; Summaries: Summary by Transaction Code Only; Show Prepaid As Allocated: No; Include outstanding deposits: No; Detail Account(s) Unit Name Phone Number Status Move-In/ Out Code Description Total Prepaid Total Delinquent Net Balance 30 Days 60 Days 90+ Days Prorate Credits Deposits Held Outstanding Deposit # Late/ # NSF Kushner, James 08/17/2004 (626) resident PMTOPACH (2,57400) 000 (2,57400) (2,57400) / Duque, Sergio (917) duquestudios@aolco m resident 01/ 2/2010 RENT , / Kroger, Edward P 10/15/2010 (917) resident edkroger@maccom PMTOPACH (39655) 000 (39655) (39655) / Brock, Misty 05/18/2011 mbrock@sares-regis resident com UTILITY / Tobia, Jr, Stephen 07/13/2009 (818) resident sftobia@aolcom PMTOPIRD (524) 000 (524) (524) / Griffith, Irene 07/ 1/2010 (832) resident PMTOPIRD (2,37668) 000 (2,37668) (1,80000) (57668) /0 Sec 8 Adjustments, Section 11/19/ resident (949) PMTCHECK (90375) 000 (90375) (81400) (8975) /0 Grand Totals: (42,16609) 13,00787 (29,15822) Resident Count: ** Net Prepaid: Net Delinquent: (42,16609) 13,00787 (26,03685) (2,83243) 000 (28894) , * -- Resident is under eviction -- Balance due includes NSF transaction(s) Please refer to the appropriate ledger for more information -- Includes amounts that are 120+ days past due -- Cash basis charge codes: Income account will match the AR account ** -- The resident count total delinquent number is the number of unique residents that are delinquent It may not be equal to the sum of the current, 30, 60, and 90+ delinquencies

78 OneSite Rents v30 OneSite Reports - Holly Street Village Page 16 of 16 12/22/2011 3:32:42PM Parameters: Report Type: Details Subproperties: ALL Subjournals: ALL DELINQUENT AND PREPAID As of 12/20/2011 Statuses to include: Applicant,Approved applicant,former applicant,pending resident, resident,former resident; Include delinquencies that equal NTV Credit? Yes; Exclude transactions payable in arrears: No; Delinquency range 0 through ; Aging Columns: Fiscal; Filter type: ALL; Summaries: Summary by Transaction Code Only; Show Prepaid As Allocated: No; Include outstanding deposits: No; ** These subtotals consist of transaction code level balances, and may not sum up to grand totals that equate to beginning/ending prepaid or delinquent balances that are subtotaled by resident ledger or subjournal, such as is done on the Resident Summary Balances report Description Delinquent / Prepaid Account Beginning Prepaid Prepaid Change In Prepaid Summary By Transaction Code ** Beginning Delinquent Delinquent Change In Delinquent Beginning Balance Balance Change In Balance 30 Days 60 Days 90+ Days RENT , ,96536 (4,75530) 14, ,96536 (4,75530) 9, RETAIL , ,87996 (3,25259) 5, ,87996 (3,25259) 1, LATEFEE (24069) (24069) NSFFEE (5000) (5000) KEYS/LOCKS (13000) (13000) APPFEE PETFEE ELEC UTILITY WATER 1212 (1693) (1693) (3222) (3222) (1693) TRASH (3209) (3209) GAS (1861) (1861) SEWER (1293) (1293) PARKING (17248) (17248) TSFRFROM (40726) (40726) (40726) (40726) (40726) PMTCHECK 1213 (14,82437) (14,96270) (13833) (14,82437) (14,96270) (13833) (12,64844) (2,02451) 000 (28975) PMTOPACH 1213 (8,10425) (11,42011) (3,31586) (8,10425) (11,42011) (3,31586) (11,10951) (31060) PMTOPIRD 1213 (6,75271) (15,35909) (8,60638) (6,75271) (15,35909) (8,60638) (14,78241) (57668) (29,69826) (42,16609) (12,46783) 21, ,00787 (8,44429) (8,24610) (29,15822) (20,91212) (26,03685) (2,83243) 000 (28894) * -- Resident is under eviction -- Balance due includes NSF transaction(s) Please refer to the appropriate ledger for more information -- Includes amounts that are 120+ days past due -- Cash basis charge codes: Income account will match the AR account ** -- The resident count total delinquent number is the number of unique residents that are delinquent It may not be equal to the sum of the current, 30, 60, and 90+ delinquencies

79 OneSite Rents v30 OneSite Reports - Holly Street Village Page 1 of 16 12/22/2011 3:32:40PM RESIDENT SUMMARY BALANCES 11/21/2011 to 12/20/2011 as of 12/20/2011 Parameters: Status selected - ALL; All Subjournals; Resident Account Balance Status - ALL; Deposit Account Balance Status - ALL; Include Gain & Loss Transactions - No; *Warning: there are transactions after the ending date; Exclude all zero rows - Yes a/r Total Deposits Ending Move-In Move-Out Resident Name / Beginning Lease Total Ending Balance Deposits Deposit Date/Lease Date/Lease Unit SubJournal Status Balance Charges Credits Balance Forward Net Change Balance Begin End Cable Miscellanous Income 000 1, , Walls, Angela Applicant /14/ /17/2007 Candia, Alexander Applicant /03/ /17/2007 Coxson, Michael Applicant /20/ /17/2007 Farnoudi, Mary Applicant /30/ /17/2007 Bungalow Income Miscellanous Income 000 1, , Parking Meter Income Miscellanous Income 000 3, , Salzman, Phyllis Applicant /30/ /25/2010 Steel, Rebecca Elizabeth Applicant /24/ /23/2011 Ling, Xiao Applicant /08/ /07/2011 Kang-Choukroun, Iye Applicant /29/ /25/2011 Martin, Denise Applicant (10000) (10000) /01/ /30/2012 Williams, Venise Applicant (10000) (10000) /30/ /29/ Baraskar, Amitkumar resident Dickison, David resident Stanley, Marquee resident Manafi, Farideh resident Kattan, Denise resident Lareen, Naomi resident Capulong, Danilo resident 000 1, , , , , , (1000) (1000) , , (5600) 1, ,30300 (6600) , , /04/ /03/ /13/ /09/ /07/ /06/ /25/ /24/ /12/ /08/ /26/ /25/ /09/ /29/ Oakwood Corporate resident , ,35800 (45751) 1,10000 (60000) /17/ /16/2012 Housing, * De Los Santos, Shauntelle resident 000 1, , /02/ /27/2012 A Mejia, Victor resident Ziegler, Robie resident Crile, Andrew resident 000 1, , , , , ,05000 (1,43754) , , /23/ /22/ /10/ /04/ /05/ /06/2012

80 OneSite Rents v30 OneSite Reports - Holly Street Village Page 2 of 16 12/22/2011 3:32:40PM RESIDENT SUMMARY BALANCES 11/21/2011 to 12/20/2011 as of 12/20/2011 Parameters: Status selected - ALL; All Subjournals; Resident Account Balance Status - ALL; Deposit Account Balance Status - ALL; Include Gain & Loss Transactions - No; *Warning: there are transactions after the ending date; Exclude all zero rows - Yes a/r Unit Resident Name / SubJournal Status Beginning Balance Total Lease Charges Total Credits Ending Balance Deposits Balance Forward Deposits Net Change Ending Deposit Balance Move-In Date/Lease Begin Move-Out Date/Lease End Espadas, Michelle resident Broughton, Lois resident Key Housing, * resident Richardson, Brett resident Corlew, Mike resident II, M I G resident Jones, Edward resident Xue, Frances resident Natalio, Davin resident Abumostafa, Samar resident Miller, Lisa resident Gamelin, Michael resident Yuan Zhong, Cui resident Komanapalli, Joyce resident McLaughlin, Dolores resident Castillo, Israel resident Stoskopf, Debra resident Wright, William resident Velazco, Ramon resident Wilson, Jonathan resident Elmer, Emily Former resident Ramsey, Jeanette resident Toda, Kevin resident Sheikholeslami, Salar resident Pitassi, Clare resident Marriott Execustay, * resident Treu, Jacqueline resident 211 1, ,56813 (085) , , , , , ,10000 (2500) 1, , , , , , , , ,62000 (63793) 2, ,14141 (63793) 1, , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,55585 (45811) (16077) 1, ,93637 (53177) , , , , (2523) 1, ,69117 (2523) , , /30/ /01/ /23/ /30/ /28/ /27/ /16/ /15/ /25/ /13/ /01/ /31/ /01/ /31/ /09/ /04/ /09/ /03/ /26/ /12/ /22/ /16/ /12/ /29/ /14/ /10/ /12/ /29/ /12/ /11/ /21/ /25/ /15/ /26/ /05/ /10/ /28/ /06/ /30/ /06/ /13/ /20/ /21/ /31/ /15/ /12/ /07/ /06/ /15/ /31/ /22/ /22/ /30/ /01/2012

81 OneSite Rents v30 OneSite Reports - Holly Street Village Page 3 of 16 12/22/2011 3:32:40PM RESIDENT SUMMARY BALANCES 11/21/2011 to 12/20/2011 as of 12/20/2011 Parameters: Status selected - ALL; All Subjournals; Resident Account Balance Status - ALL; Deposit Account Balance Status - ALL; Include Gain & Loss Transactions - No; *Warning: there are transactions after the ending date; Exclude all zero rows - Yes a/r Total Deposits Ending Move-In Move-Out Resident Name / Beginning Lease Total Ending Balance Deposits Deposit Date/Lease Date/Lease Unit SubJournal Status Balance Charges Credits Balance Forward Net Change Balance Begin End Parikh, Ekta resident Liebl, Eric resident Ching, John resident Browne, Pamela resident Brown, Arlessie resident Bechtel, Jon resident Cook, Lory resident Walia, Shalia resident Rutherford, Ryan resident Blake, Kelli resident Chae, Wonha resident Kamble, Sfurti A resident Mak, Hester resident 000 1, , , , , , ,63026 (15680) , , (23080) (23080) , , (400) (400) , , , , , , , ,13717 (1,56600) , , , , , , /29/ /19/ /21/ /31/ /08/ /02/ /06/ /30/ /17/ /31/ /01/ /23/ /08/ /31/ /08/ /24/ /14/ /01/ /23/ /18/ /20/ /13/ /21/ /03/ /07/ /06/ Oakwood Corporate resident (5084) 2, ,24147 (5084) /15/ /02/2012 Housing, * Alexander, Paula resident Boyer, Calvin resident Estrada, Wendy resident Ogden, Jason resident Smith, Krista resident Cahill, Michael resident Lee, Stephen W resident Lu, Chungung resident Wiggins, Stephanie resident Dominguez, Henry resident Baenen, Annie resident Rasul, Shahla resident Zasa, Robert Joseph resident 000 1, , (92117) 2, ,30000 (92333) (003) 1, , , , , , , , , , (5412) 1, ,92000 (6428) , , , , , , , , , , , , /03/ /22/ /15/ /06/ /28/ /25/ /30/ /01/ /01/ /25/ /30/ /26/ /15/ /09/ /01/ /28/ /18/ /04/ /15/ /10/ /08/ /02/ /10/ /04/ /30/ /29/2012

82 OneSite Rents v30 OneSite Reports - Holly Street Village Page 4 of 16 12/22/2011 3:32:40PM RESIDENT SUMMARY BALANCES 11/21/2011 to 12/20/2011 as of 12/20/2011 Parameters: Status selected - ALL; All Subjournals; Resident Account Balance Status - ALL; Deposit Account Balance Status - ALL; Include Gain & Loss Transactions - No; *Warning: there are transactions after the ending date; Exclude all zero rows - Yes a/r Unit Resident Name / SubJournal Status Beginning Balance Total Lease Charges Total Credits Ending Balance Deposits Balance Forward Deposits Net Change Ending Deposit Balance Move-In Date/Lease Begin Move-Out Date/Lease End Yu, Jimi resident Wagar, Bruce A resident Son, Miyoung resident Tosaya, Dinah resident Schiller, Noelle resident Warnock, Janae Former resident Sifling, Jayme L resident Monty, Antoinette resident Ge, Ling resident Plaid, Cheyvee resident Suite, Hospitality Guest resident Xula, Sergio resident Rodriguez, Gabriel resident Marriott Execustay, * Former resident Almond, Whitney Applicant Yi, Evan Seung resident Vashi, Ashish resident Pitic, Aldin resident Jeon, Sang B resident Haines, Mark resident Crookshanks, Clark resident Jukes, Stephanie resident French, Ashley resident Youngblood, Betty resident Senkandwa, Harriet resident Patel, Rajen resident Reynolds, Laura resident 000 1, , , , , , , , , , (603) 1, , , , (60000) , ,29600 (12519) (16114) 1, ,04400 (16314) (2135) 1, , , ,50800 (4080) , , , , , , , , , , (60000) (23208) 1, ,68000 (28191) , , , , , , , , , , , , , ,10000 (29570) 1, ,04000 (29870) (35773) 1, ,30300 (35773) 1, , , , , , /02/ /23/ /01/ /07/ /01/ /29/ /28/ /19/ /19/ /18/ /23/ /30/ /15/ /09/ /31/ /30/ /25/ /19/ /30/ /29/ /07/ /01/ /01/ /30/ /06/ /05/ /15/ /12/ /21/ /18/ /23/ /12/ /03/ /11/ /29/ /28/ /24/ /23/ /08/ /23/ /11/ /28/ /19/ /18/ /23/ /17/ /01/ /31/ /28/ /31/ /14/ /31/ /10/ /28/2012

83 OneSite Rents v30 OneSite Reports - Holly Street Village Page 5 of 16 12/22/2011 3:32:40PM RESIDENT SUMMARY BALANCES 11/21/2011 to 12/20/2011 as of 12/20/2011 Parameters: Status selected - ALL; All Subjournals; Resident Account Balance Status - ALL; Deposit Account Balance Status - ALL; Include Gain & Loss Transactions - No; *Warning: there are transactions after the ending date; Exclude all zero rows - Yes a/r Unit Resident Name / SubJournal Status Beginning Balance Total Lease Charges Total Credits Ending Balance Deposits Balance Forward Deposits Net Change Ending Deposit Balance Move-In Date/Lease Begin Move-Out Date/Lease End Hafen, Landon resident Martinez, Christy resident Phadtare, Parag resident O`Laughlin, Erin resident Pickens, LaDonne resident Goodchild, David resident Zacny, Kris resident Sanchez, Vanessa Former resident Johnson, Charles resident Meverden, Ashley resident Dinh, Tinny resident Ware, Elisa resident Scott, Angela M resident Rios, Jose resident Hargrove, Charlene D resident Kang, Youn Sik resident Marriott-Execustay, * Former resident Crockom, Latonia resident Hamilton, Dawn Former resident Xu, Lin resident Dobbert, Christopher resident Cabral, Guillermo resident Samsami, Hedayat resident Franchi, Claudia Former resident Hernandez, Adrian resident Gailen, Carol resident Wiener, Daniel K resident 000 2, , , , , ,17127 (5400) (2500) 1, , (3336) (3336) , , , , (4885) 000 (4885) , , (10000) 2, , , , , , , , , , , , (13809) 1, , (50000) , , (12488) , , , , , , , , (17000) (17000) ,00000 (1,00000) 000 (1,78950) 2, (10000) , , , , , , /07/ /01/ /11/ /10/ /23/ /21/ /16/ /10/ /16/ /10/ /06/ /01/ /03/ /27/ /27/ /26/ /16/ /10/ /13/ /07/ /13/ /07/ /01/ /30/ /19/ /14/ /18/ /31/ /24/ /23/ /17/ /07/ /15/ /18/ /12/ /11/ /26/ /06/ /21/ /08/ /19/ /13/ /21/ /31/ /27/ /31/ /21/ /18/ /25/ /19/ /11/ /01/ /01/ /19/2012

84 OneSite Rents v30 OneSite Reports - Holly Street Village Page 6 of 16 12/22/2011 3:32:40PM RESIDENT SUMMARY BALANCES 11/21/2011 to 12/20/2011 as of 12/20/2011 Parameters: Status selected - ALL; All Subjournals; Resident Account Balance Status - ALL; Deposit Account Balance Status - ALL; Include Gain & Loss Transactions - No; *Warning: there are transactions after the ending date; Exclude all zero rows - Yes a/r Unit Resident Name / SubJournal Status Beginning Balance Total Lease Charges Total Credits Ending Balance Deposits Balance Forward Deposits Net Change Ending Deposit Balance Move-In Date/Lease Begin Move-Out Date/Lease End Allen, Robert resident Comstock, Leslie resident Gillett, Paul resident Farkas, Michael resident Purves, Josh resident Jenkins, William resident Gichuhi, Grace resident Strametz, Laura resident Hess, Robert resident Luke, Janett resident Han, Younsik resident Vana, Allison resident Schwartz, Jennifer resident Thomas, Monique resident Burrows, Keith resident Dandino, Elizabeth resident De Silva, Ravi resident Daryaie, Shahindokh resident Lee, Aaron resident Cunningham, Melissa resident Heath, Brandon resident Menezes, Gustavo resident Estillore, Arthur resident Bradford, Eddie resident Austin, Talea Jaclyn resident Sanchez, Blanca M resident Richardson, Victoria resident 000 1, , (29600) 2, , , , , , , , , , (012) 1, ,55000 (095) , , , , (4450) 1, ,29300 (4450) , , , , , , , , , ,95800 (600) 1, ,04200 (600) , , , , , , , , , , , , , , , ,10000 (50825) 1, ,29300 (50825) , , /01/ /30/ /29/ /24/ /19/ /12/ /13/ /07/ /15/ /25/ /22/ /31/ /29/ /17/ /05/ /31/ /26/ /17/ /01/ /31/ /27/ /30/ /20/ /08/ /18/ /03/ /29/ /28/ /12/ /31/ /24/ /30/ /15/ /29/ /27/ /31/ /01/ /26/ /30/ /20/ /16/ /17/ /20/ /07/ /18/ /02/ /29/ /31/ /10/ /31/ /21/ /22/ /15/ /19/2008

85 OneSite Rents v30 OneSite Reports - Holly Street Village Page 7 of 16 12/22/2011 3:32:40PM RESIDENT SUMMARY BALANCES 11/21/2011 to 12/20/2011 as of 12/20/2011 Parameters: Status selected - ALL; All Subjournals; Resident Account Balance Status - ALL; Deposit Account Balance Status - ALL; Include Gain & Loss Transactions - No; *Warning: there are transactions after the ending date; Exclude all zero rows - Yes a/r Total Deposits Ending Move-In Move-Out Resident Name / Beginning Lease Total Ending Balance Deposits Deposit Date/Lease Date/Lease Unit SubJournal Status Balance Charges Credits Balance Forward Net Change Balance Begin End Blount, David resident Bye, Larry resident Coulter, Patricia resident Marquardt, Joel resident Reese, Magda resident Cox, Corey resident Marriott Execustay, * resident Gonzalez, Juan resident (3390) 1, , , , , , (114) 1, , , , , ,60000 (3483) 1, , , , , ,58800 (038) 1, , /07/ /01/ /18/ /22/ /15/ /09/ /01/ /11/ /31/ /30/ /16/ /17/ /02/ /21/ /17/ /04/ Fitzgerald, Katherine resident 000 1, , , , /07/ /26/2012 Anne Simonsen, Austen resident Iturbe, Nicole Former resident 000 1, , , ,52500 (46247) (1724) (50000) /22/ /21/ /28/ /22/ Oakwood Corporate resident 000 1, , /15/ /14/2012 Housing, * Salehi, Masoud resident Knox, Barsha resident Talancon, Jose Luis Former resident Morgan, Shaunda resident Garcia, Bridget resident Guy, Lillian resident Bentley, Marjorie resident Sedmak, Nicole resident Delevi, Rakel resident Ford, Barbara resident Tuble, Sigrid resident Vaghei, Minoo Former applicant Large, Adrienne resident Young, Brian resident 000 1, , (45794) 1, ,18900 (34394) (60000) 000 (15775) (675) , , , , , , (44200) (44200) , , , , , , (17617) 1, ,36700 (17517) , , , ,53500 (3500) 000 (3500) (391) (4091) 1, , , , /29/ /18/ /30/ /29/ /03/ /22/ /05/ /04/ /20/ /21/ /05/ /04/ /22/ /31/ /21/ /20/ /31/ /17/ /01/ /31/ /12/ /30/ /20/ /19/ /03/ /02/ /21/ /11/2012

86 OneSite Rents v30 OneSite Reports - Holly Street Village Page 8 of 16 12/22/2011 3:32:40PM RESIDENT SUMMARY BALANCES 11/21/2011 to 12/20/2011 as of 12/20/2011 Parameters: Status selected - ALL; All Subjournals; Resident Account Balance Status - ALL; Deposit Account Balance Status - ALL; Include Gain & Loss Transactions - No; *Warning: there are transactions after the ending date; Exclude all zero rows - Yes a/r Total Deposits Ending Move-In Move-Out Resident Name / Beginning Lease Total Ending Balance Deposits Deposit Date/Lease Date/Lease Unit SubJournal Status Balance Charges Credits Balance Forward Net Change Balance Begin End Firoozy, Molouk resident (100) 1, ,04300 (200) /01/ /31/ Simmons, Jonathan resident 000 1, , /01/ /28/2012 Wesley Regency Corporate resident 000 1, , /11/ /10/2012 Living, * Daykin, Victor Former resident Guerrero, Mellissa resident Zhang, Erin Shengi resident Goudeau, Julia resident Diaz, Lenor resident Stewart, Gloria resident Donnell, Brian resident Vora, Shruti resident Wakatsuki, Takeru resident Jackson, Nathanael resident Hamilton, Ashley G resident Towns, Jeneal resident Birnbaum, Ben resident Moravcik, Eva resident Fischer, Tara resident Carlson, Stephanie resident Lemoi, Alpherie resident Donsbach, Paul resident Hamilton, Dawn resident (1,17912) 1, (50000) 000 (11558) 2, ,28000 (13711) , , , ,10000 (6106) (6606) 1, , , , , , , , , ,11745 (3500) , , , , , , , , , ,13800 (300) 1, ,03700 (300) , , , , , , , ,40000 (3126) 1, , , , , , , , , ,00000 (001) 2, , , , /08/ /18/ /15/ /03/ /19/ /18/ /29/ /30/ /18/ /17/ /26/ /09/ /16/ /07/ /18/ /18/ /13/ /12/ /04/ /28/ /07/ /01/ /01/ /31/ /13/ /08/ /01/ /25/ /27/ /21/ /01/ /21/ /23/ /17/ /03/ /28/ /06/ /05/ Dayabhai-Jairambhai, resident 000 2, , /21/ /20/2012 Punam Winans, Kelly resident Thompson, Sharon resident Forteza, Evelyn resident 000 2, , (065) (065) , , , , /01/ /15/ /12/ /31/ /26/ /25/2012

87 OneSite Rents v30 OneSite Reports - Holly Street Village Page 9 of 16 12/22/2011 3:32:40PM RESIDENT SUMMARY BALANCES 11/21/2011 to 12/20/2011 as of 12/20/2011 Parameters: Status selected - ALL; All Subjournals; Resident Account Balance Status - ALL; Deposit Account Balance Status - ALL; Include Gain & Loss Transactions - No; *Warning: there are transactions after the ending date; Exclude all zero rows - Yes a/r Total Deposits Ending Move-In Move-Out Resident Name / Beginning Lease Total Ending Balance Deposits Deposit Date/Lease Date/Lease Unit SubJournal Status Balance Charges Credits Balance Forward Net Change Balance Begin End Mesmer, Ethan resident Castillo, Edilzar resident Nakayama, Satoshi resident Mac Dougall, Derek resident Gris, Angela resident Offutt, Tressa resident Van Der Touw, Renee resident Cerny, Lindsey resident 000 2, , , , , , , , , , , ,05900 (18294) 1, ,30300 (18294) (16037) 1, ,02317 (44337) , ,20048 (001) 1, , /18/ /19/ /22/ /21/ /24/ /14/ /29/ /14/ /04/ /03/ /30/ /29/ /29/ /12/ /25/ /21/ Zillgitt, Margaret resident /01/ /31/2006 (Stephanie) Riesen, Anne-Jose resident Haber, Mark resident Graves, Jason resident Ward, Saraan resident PC Housing, * resident Kamali, Roza resident Jones, Robert resident Eiler, Janis resident Havel, Timothy resident Fagundes, David resident Ortiz, Maria resident 000 2, , (26500) 1, ,30300 (26500) (4294) 2, ,16054 (003) 1, ,40000 (100) (100) , , (001) 1, ,04200 (001) (5409) 1, , , , , , (32262) 2, ,00000 (29717) , , , , /25/ /14/ /23/ /31/ /01/ /21/ /26/ /31/ /15/ /14/ /07/ /31/ /10/ /24/ /06/ /24/ /07/ /06/ /29/ /23/ /21/ /11/ Oakwood Corporate Former resident , (60000) /23/ /25/2011 Housing, * Country, Cross resident Ehrlich, Anne resident Latip, Jessica resident Hoshino, Takuya resident Ramos, Mario resident 000 1, , , , , , , , , , , , /10/ /09/ /24/ /13/ /12/ /22/ /19/ /04/ /31/ /30/2010

88 OneSite Rents v30 OneSite Reports - Holly Street Village Page 10 of 16 12/22/2011 3:32:40PM RESIDENT SUMMARY BALANCES 11/21/2011 to 12/20/2011 as of 12/20/2011 Parameters: Status selected - ALL; All Subjournals; Resident Account Balance Status - ALL; Deposit Account Balance Status - ALL; Include Gain & Loss Transactions - No; *Warning: there are transactions after the ending date; Exclude all zero rows - Yes a/r Total Deposits Ending Move-In Move-Out Resident Name / Beginning Lease Total Ending Balance Deposits Deposit Date/Lease Date/Lease Unit SubJournal Status Balance Charges Credits Balance Forward Net Change Balance Begin End Koike, Shinya resident Bilovsky, Paula resident 000 2, , , , , , /28/ /22/ /01/ /25/ CSDS AIRCRAFT SALES resident , , /11/ /10/2012 LEASING I, Ben Spragg, Melissa resident Hughes, Jeremy resident Liwanag, Allen resident Dubois, Tammy Ann resident Loo, Paul resident Kernstine, Kendal Former applicant Sci Live, Inc, * resident Kearney, Ellyn P resident Marchionda, Frankie resident Taylor-Wheat, Madeline resident Ice Energy, * resident Hadley, Amber resident Glick, Britney Former resident Barber, LaToya resident Miller, Jennifer Applicant Irizarry, Yvette resident Soudjian, Ara resident Ng, Airin resident Syed, Asad resident Pozo, Ruth resident Oakwood, * resident Kong, Nancy resident Orozco, Rafael resident Teta, Rosemary resident , , , , , , , , , , ,28200 (64100) , ,57006 (33000) (600) 1, ,30300 (600) , ,70000 (2255) , , , , , , , , (60000) , , , , , , , , , , , , , , , , , , , , , , , , /25/ /19/ /12/ /30/ /31/ /25/ /18/ /08/ /15/ /30/ /28/ /15/ /08/ /29/ /30/ /30/ /16/ /01/ /01/ /31/ /12/ /11/ /30/ /29/ /13/ /17/ /18/ /17/ /25/ /19/ /21/ /15/ /01/ /23/ /10/ /11/ /26/ /27/ /06/ /31/ /07/ /30/ /24/ /18/ /07/ /18/ /09/ /27/2012

89 OneSite Rents v30 OneSite Reports - Holly Street Village Page 11 of 16 12/22/2011 3:32:40PM RESIDENT SUMMARY BALANCES 11/21/2011 to 12/20/2011 as of 12/20/2011 Parameters: Status selected - ALL; All Subjournals; Resident Account Balance Status - ALL; Deposit Account Balance Status - ALL; Include Gain & Loss Transactions - No; *Warning: there are transactions after the ending date; Exclude all zero rows - Yes a/r Total Deposits Ending Move-In Move-Out Resident Name / Beginning Lease Total Ending Balance Deposits Deposit Date/Lease Date/Lease Unit SubJournal Status Balance Charges Credits Balance Forward Net Change Balance Begin End Williams, Wynter resident Stiles, Noelle resident Wilson, Toni resident Scheinhorn, David resident Lal, Shalini resident Morawiec, Amy resident Knowlton, Katherine resident Santamaria, Diane resident Magarian, Shirley resident Jackson, Timothy resident Lewis, James resident Reising, Breanna resident Schafer, Scott resident Robert Franklin resident Sumarli, Dominic resident Cao, Shihong Former resident Wang, Jingyaun resident Flores, Marlene resident Rundall, Yang resident Elsberry, Mary resident Blackmon, Amy resident Martinez, Robert G resident Kockler, Jennifer resident Kushwaha, Arjun resident Gearhart, Jonathan Former resident 5, , , , , (34728) (43728) , , , , , , , , , , , , , , (84212) 2, , , , , , (7187) 2, , , , , , , ,51141 (15851) , , (60000) , , , ,10000 (89500) 1, ,05000 (64200) (33594) 1, ,50100 (27177) , , , , , , , , , , (50000) /01/ /30/ /18/ /08/ /01/ /31/ /30/ /12/ /21/ /15/ /16/ /17/ /09/ /27/ /25/ /20/ /08/ /30/ /18/ /10/ /18/ /05/ /31/ /20/ /08/ /08/ /19/ /14/ /18/ /15/ /06/ /19/ /30/ /29/ /11/ /31/ /06/ /05/ /01/ /31/ /31/ /30/ /10/ /31/ /01/ /13/ /28/ /10/ /07/ /08/ Oakwood Corporate resident (1,25911) 1, ,74917 (1,35911) /03/ /22/2012 Housing, * Brooks, Bobbie resident 000 2, , , , /01/ /19/2012

90 OneSite Rents v30 OneSite Reports - Holly Street Village Page 12 of 16 12/22/2011 3:32:40PM RESIDENT SUMMARY BALANCES 11/21/2011 to 12/20/2011 as of 12/20/2011 Parameters: Status selected - ALL; All Subjournals; Resident Account Balance Status - ALL; Deposit Account Balance Status - ALL; Include Gain & Loss Transactions - No; *Warning: there are transactions after the ending date; Exclude all zero rows - Yes a/r Total Deposits Ending Move-In Move-Out Resident Name / Beginning Lease Total Ending Balance Deposits Deposit Date/Lease Date/Lease Unit SubJournal Status Balance Charges Credits Balance Forward Net Change Balance Begin End Oakwood Corporate resident (6843) 1, ,90817 (6843) /25/ /12/2012 Housing, * Hackett, Nicole Former resident Sibois, Aurore resident Zacharias, Brian resident Hobbie, Suzanne resident (067) , , , , , , , , /19/ /06/ /25/ /19/ /31/ /30/ /20/ /19/ Communities, Episcopal resident (9,31180) 7, ,28729 (9,31180) 13, , /08/ /07/2012 Homes Tanning, Santoyo resident Erner, Berk resident Model, Model resident Smith, Robert resident Manukyan, Gegham resident Horning, Donald resident Macazana, Carmen Cecilia resident Model, One bedroom resident Marshall, Robert resident Kaufmann, Corey resident Wilson, John resident Dabiri, Parvin resident Garcia, David resident Shah, Ashish resident Peter, Julia resident Bautista, Judy resident Crockom, Darrell resident Shumilo, Gayane resident Kudo, Makoto Former resident Vallee, Sebastien resident 1, , , , , , , , , , , , , , , ,21867 (23874) , , , , , , , ,42339 (40726) , , , , , , , , , , (9810) 1, ,30300 (9810) , , (60000) 000 (001) 2, ,16046 (2,08500) /04/ /03/ /25/ /18/ /25/ /31/ /07/ /06/ /15/ /18/ /08/ /14/ /26/ /16/ /23/ /31/ /12/ /11/ /17/ /11/ /12/ /31/ /12/ /31/ /19/ /20/ /09/ /26/ /05/ /23/ /08/ /14/ /06/ /05/ /05/ /04/ /09/ /11/ /27/ /21/2012

91 OneSite Rents v30 OneSite Reports - Holly Street Village Page 13 of 16 12/22/2011 3:32:40PM RESIDENT SUMMARY BALANCES 11/21/2011 to 12/20/2011 as of 12/20/2011 Parameters: Status selected - ALL; All Subjournals; Resident Account Balance Status - ALL; Deposit Account Balance Status - ALL; Include Gain & Loss Transactions - No; *Warning: there are transactions after the ending date; Exclude all zero rows - Yes a/r Total Deposits Ending Move-In Move-Out Resident Name / Beginning Lease Total Ending Balance Deposits Deposit Date/Lease Date/Lease Unit SubJournal Status Balance Charges Credits Balance Forward Net Change Balance Begin End Dial, Mark resident Elem, Evelyn resident Yau, Arthur Chi resident Yagjian, Cora resident Jones, Adriana resident Wells, Derek resident Moss, Denise resident Ng, Tzu Ming resident Morris, Michael resident Tracas, Michael resident Witt, Alberta resident Teece, Daniel resident Holly Street, Village Former resident Cleek, Elizabeth A resident Doyle, Melissa resident Seubert, Carl R resident Zamani, Nahid resident Clavecilla, Christine resident Greenberg, Peter resident Wiesner, Martin resident Donorovich, Ashley resident Ogorodov, Denis resident Klug, David resident Marriott Execustay, * resident 000 1, , (18000) (19500) , , (98714) 1, ,04200 (98714) , , , , , , , , ,10000 (29500) 2, ,11213 (29000) 2, , , , , ,53500 (19800) 1, ,04200 (19800) , ,04519 (2,60000) , , (8613) 2, , , , , , , , , , , , , , , , , ,10000 (39200) 2, , , , , , , , /17/ /12/ /12/ /31/ /08/ /26/ /23/ /31/ /22/ /30/ /03/ /27/ /10/ /09/ /15/ /05/ /10/ /04/ /11/ /29/ /01/ /30/ /19/ /17/ /25/ /05/ /10/ /04/ /01/ /25/ /11/ /05/ /28/ /31/ /01/ /31/ /12/ /11/ /19/ /13/ /21/ /20/ /05/ /10/ /22/ /29/ /10/ /09/ K Tek Business resident 000 1, ,84700 (016) 1, , /01/ /21/2012 Solutions, * Carmody, Brian resident Percival, Jeffrey resident (22243) 2, ,85000 (3,16928) , , , , /08/ /02/ /05/ /09/2012

92 OneSite Rents v30 OneSite Reports - Holly Street Village Page 14 of 16 12/22/2011 3:32:40PM RESIDENT SUMMARY BALANCES 11/21/2011 to 12/20/2011 as of 12/20/2011 Parameters: Status selected - ALL; All Subjournals; Resident Account Balance Status - ALL; Deposit Account Balance Status - ALL; Include Gain & Loss Transactions - No; *Warning: there are transactions after the ending date; Exclude all zero rows - Yes a/r Total Deposits Ending Move-In Move-Out Resident Name / Beginning Lease Total Ending Balance Deposits Deposit Date/Lease Date/Lease Unit SubJournal Status Balance Charges Credits Balance Forward Net Change Balance Begin End Collins, Nancy resident 7-G15 Astrero, James resident 7-G17 Lee, Paul resident Hamer, Andrew Q resident Jackson-Newman, Qiana Former resident Du, Jen-Hsiang resident Harston, Tiffany resident McFatter, Stuart Gavin resident Lukesh, Warren resident Kim, Boo resident Morel, Jose Vidal resident Chaney, Margaret Former resident Izadi, Behat resident Urgelles, Jennifer resident Alvarez, Carlota Elena resident Burchfield, Ryan resident Newson, Deborah resident Marriott Execustay, * Former resident 000 2, , , , , , , , , ,53268 (31060) 1, ,20000 (9500) , , , , , , , , , , (26986) 1, , , , , , (1000) (50000) , , , ,58229 (712) , ,24262 (55548) 1, ,50800 (1000) 1, ,04200 (1500) , , (50000) /01/ /20/ /28/ /11/ /22/ /12/ /10/ /09/ /21/ /21/ /16/ /15/ /09/ /24/ /22/ /30/ /08/ /02/ /01/ /27/ /15/ /10/ /13/ /09/ /05/ /30/ /02/ /30/ /07/ /24/ /22/ /26/ /04/ /31/ /15/ /28/ Oakwood Corporate resident /15/ /14/2012 Housing, * Meshkat, Leila resident Grzecka, Amy resident Rodriguez, Monica resident Aimaq, Rahim resident Gil, Ivonne resident Marriott ExecuStay, * resident Herlong, Dwight resident Vindeni, Mario resident 560 1, ,80000 (1430) , , , , , , , , , , , , , , , , /19/ /13/ /24/ /18/ /21/ /15/ /04/ /24/ /05/ /04/ /15/ /04/ /15/ /14/ /07/ /26/2012

93 OneSite Rents v30 OneSite Reports - Holly Street Village Page 15 of 16 12/22/2011 3:32:40PM RESIDENT SUMMARY BALANCES 11/21/2011 to 12/20/2011 as of 12/20/2011 Parameters: Status selected - ALL; All Subjournals; Resident Account Balance Status - ALL; Deposit Account Balance Status - ALL; Include Gain & Loss Transactions - No; *Warning: there are transactions after the ending date; Exclude all zero rows - Yes a/r Total Deposits Ending Move-In Move-Out Resident Name / Beginning Lease Total Ending Balance Deposits Deposit Date/Lease Date/Lease Unit SubJournal Status Balance Charges Credits Balance Forward Net Change Balance Begin End Hodges, Jasmin resident Rivera, Reuben resident Wu, Yi-hsin resident Davis, Edward resident Wittmier, Shawn resident New Armour,Inc, * resident Martin, Robert resident Wada, Steven resident Turner, Kimmie resident , , , , , , , , , , , , , , , , (197) /22/ /21/ /23/ /17/ /15/ /29/ /11/ /28/ /03/ /21/ /19/ /13/ /22/ /16/ /01/ /13/ /21/ /31/ Jimenez Paulino, Lara resident 000 1, , /12/ /11/2012 Jane Reitz, Greg resident Hargis, Paul resident De Necochea, Fernando Former resident Kushner, James resident Duque, Sergio resident Little, Matthew resident Kroger, Edward P resident Brock, Misty resident Tobia, Jr, Stephen resident Vega, Tanya resident Levitt, Cindy resident Wilson, Jack resident Kimball, Shelley resident Falls, Jonathan resident Staehling, Beth resident Griffith, Irene resident Sec 8 Adjustments, Section 8 resident (1693) 2, ,02500 (1693) , , , , (90000) , ,14298 (2,57400) , , , , , , , ,09300 (39655) , , , ,71435 (524) , , , , , , (1400) 2, , , , , , , (2,78366) 2, ,80000 (2,37668) (8975) (90375) /26/ /20/ /01/ /16/ /20/ /16/ /17/ /12/ /02/ /24/ /21/ /15/ /15/ /12/ /18/ /17/ /13/ /03/ /13/ /03/ /10/ /04/ /25/ /19/ /01/ /13/ /01/ /26/ /11/ /14/ /01/ /25/ /19/ /18/2008

94 OneSite Rents v30 OneSite Reports - Holly Street Village Page 16 of 16 12/22/2011 3:32:40PM RESIDENT SUMMARY BALANCES 11/21/2011 to 12/20/2011 as of 12/20/2011 Parameters: Status selected - ALL; All Subjournals; Resident Account Balance Status - ALL; Deposit Account Balance Status - ALL; Include Gain & Loss Transactions - No; *Warning: there are transactions after the ending date; Exclude all zero rows - Yes a/r Unit Resident Name / SubJournal Status Beginning Balance Total Lease Charges Total Credits Ending Balance Deposits Balance Forward Deposits Net Change Ending Deposit Balance Move-In Date/Lease Begin Move-Out Date/Lease End Totals Residents: (8,24610) 677, ,05518 (29,15822) 288,71876 (40800) 288,31076 Prepaid Portion: Delinquent Portion: (29,69826) (42,16609) 21, ,00787 Dep In: 8,79200 Dep Out: 9,22310 Prepaids Moved to 2310 Deposit Ledger: *These amounts may consist of multiple receivable accounts but are totaled by resident ledger on this report See the Resident Balances by Fiscal Period report for a breakout by receivable account (which also ties to the Monthly Transaction Summary report)

95 OneSite Rents v30 OneSite Reports - Holly Street Village Page 1 of 3 12/22/2011 3:32:42PM BANK DEPOSIT SUMMARY Parameters: ALL Properties; ALL Bank Accounts Batch Close Date Actual Property Bank Deposit # Bank Account Description Bank Deposit Description Bank Account Name December 2011 (Fiscal Period: ) # Items Date Range Closed by Payments NSF Repayments Deposits Paid In Total Bank Deposit A/R Cumulative Total 11/22 11/21 11/22 11/22 11/22 11/22 11/22 11/22 11/22 11/22 11/23 11/23 11/26 11/25 11/28 11/28 11/28 11/28 11/29 11/28 11/30 11/29 12/01 12/01 12/01 12/01 12/02 12/01 12/02 12/01 12/02 12/01 12/02 12/01 12/02 12/01 12/03 12/02 12/04 12/ Operating 920 Bucket for this Operating 38 11/14/ /18/2011 OPayments (9,29200) 000 9, bank account for this period 925 Operating 925 Bucket for this Operating 7 04/01/ /14/2011 n/a (1,85616) 000 (60000) (2,45616) bank account for this period 001 Operating Control #1 dated Operating 5 11/22/ /22/2011 MBrock 6, , /22/ Operating Settlement: Operating 1 11/22/ /22/2011 AAdmin Operating Settlement: Operating 3 11/21/ /21/2011 AAdmin 3, , Operating Settlement: Operating 1 11/23/ /23/2011 AAdmin Operating Control #2 dated Operating 3 11/25/ /25/2011 MBrock /25/ Operating Settlement: Operating 6 11/25/ /25/2011 AAdmin 8, , Operating Settlement: Operating 15 11/25/ /29/2011 AAdmin 19, , Operating Settlement: Operating 8 11/28/ /28/2011 AAdmin 8, , Operating Settlement: Operating 3 11/25/ /28/2011 AAdmin 6, , Operating Settlement: Operating 14 11/28/ /01/2011 AAdmin 26, , Operating Settlement: Operating 15 11/30/ /01/2011 AAdmin 26, , Operating Control #3 dated Operating 14 12/01/ /01/2011 TDiaz 22, , /01/ Operating Settlement: Operating 12 12/01/ /01/2011 AAdmin 19, , Operating Settlement: Operating 1 12/01/ /01/2011 AAdmin 2, , Operating Settlement: Operating 1 12/01/ /01/2011 AAdmin Operating Settlement: Operating 88 12/01/ /01/2011 AAdmin 128, , Operating Settlement: Operating 16 11/28/ /01/2011 AAdmin 28, , Operating Settlement: Operating 10 12/01/ /03/2011 AAdmin 19, , (2,45616) 4, , , , , , , , , , , , , , , , , ,59122

96 OneSite Rents v30 OneSite Reports - Holly Street Village Page 2 of 3 12/22/2011 3:32:42PM BANK DEPOSIT SUMMARY Parameters: ALL Properties; ALL Bank Accounts Batch Close Date Actual Property Bank Deposit # Bank Account Description Bank Deposit Description Bank Account Name December 2011 (Fiscal Period: ) # Items Date Range Closed by Payments NSF Repayments Deposits Paid In Total Bank Deposit A/R Cumulative Total 12/05 12/05 12/06 12/05 12/06 12/06 12/06 12/06 12/06 12/06 12/07 12/07 12/07 12/07 12/07 12/07 12/08 12/08 12/08 12/08 12/09 12/09 12/09 12/09 12/09 12/09 12/12 12/11 12/13 12/12 12/15 12/14 12/15 12/15 12/16 12/16 12/19 12/18 12/19 12/19 12/22 12/ Operating Settlement: Operating 11 12/03/ /05/2011 AAdmin 22, , Operating Control #4 dated Operating 62 12/05/ /05/2011 TDiaz 46, , /05/ Operating Settlement: Operating 42 12/05/ /05/2011 AAdmin 44, , Operating Settlement: Operating 1 12/05/ /05/2011 AAdmin 3, , Operating Settlement: Operating /05/ /05/2011 AAdmin 176, , Operating Settlement: Operating 1 12/07/ /07/2011 AAdmin 2, , Operating Settlement: Operating 1 12/07/ /07/2011 AAdmin 1, , Operating Settlement: Operating 1 12/07/ /07/2011 AAdmin 7, , Operating Settlement: Operating 1 12/07/ /07/2011 AAdmin Operating Settlement: Operating 4 12/07/ /08/2011 AAdmin 8, , Operating Control #5 dated 12/09/2011 Operating 5 12/09/ /09/2011 MBrock 3, , Operating Settlement: Operating 2 12/09/ /09/2011 AAdmin 4, , Operating Settlement: Operating 2 12/09/ /09/2011 AAdmin 2, , Operating Control #6 dated Operating 7 12/11/ /11/2011 MBrock 7, , /11/ Operating Settlement: Operating 1 12/12/ /12/2011 AAdmin 3, , Operating Control #7 dated 12/14/2011 Operating 6 12/14/ /14/2011 MBrock 12, , Operating Control #8 dated Operating 2 12/15/ /15/2011 MBrock 1, , /15/ Operating Settlement: Operating 1 12/16/ /16/2011 AAdmin 1, , Operating Control #9 dated Operating 15 12/18/ /18/2011 MBrock 11, , /18/ Operating Settlement: Operating 1 12/18/ /18/2011 AAdmin Operating Control #10 dated Operating 1 12/20/ /20/2011 MBrock 3, , /20/ , , , , , , , , , , , , , , , , , , , , ,26237

97 OneSite Rents v30 OneSite Reports - Holly Street Village Page 3 of 3 12/22/2011 3:32:42PM BANK DEPOSIT SUMMARY Parameters: ALL Properties; ALL Bank Accounts Batch Close Date Actual Property Bank Deposit # Bank Account Description Bank Deposit Description Bank Account Name December 2011 (Fiscal Period: ) # Items Date Range Closed by Payments NSF Repayments Deposits Paid In Total Bank Deposit A/R Cumulative Total 12/22 12/20 12/22 12/20 12/22 12/ Operating Control #11 dated Operating 2 12/20/ /20/2011 MBrock /20/ Operating EOM Payments Operating 2 12/20/ /20/2011 AAdmin 3, ,64122 Batch:122011:PMTO PACH:Operating: Operating EOM Payments Operating 2 12/20/ /20/2011 AAdmin 4, ,73500 Batch:122011:PMTO PIRD:Operating: , , ,34895 Pre-NSF: , , , ,34895 Subtotals by Bank Account Operating Operating , , , ,34895 Pre-NSF: , , , , Operating Operating 6 (8,56318) (8,56318) 688,78577 Net Bank Deposits: , , , ,78577 NSF Transaction Activity Unit Name Description Transaction Code Period / Bank Deposit # Original Payment Reversal Original/NSF Amount Velazco, Ramon NSF PMTCHECK , Sibois, Aurore Unable To Locate Account (R03) PMTOPACH , Brooks, Bobbie Insufficient Funds (R01) PMTOPACH , Eiler, Janis Insufficient Funds (R01) PMTOPACH , SCI LIVE INC, * Insufficient Funds (R01) PMTOPACH Martinez, Christy Account Closed (R02) PMTOPACH Totals: 8,56318

98 OneSite Rents v30 OneSite Reports - Holly Street Village Page 1 of 5 12/22/2011 3:32:41PM Parameters: Transaction Category - ; TRANSACTION DETAIL BY CODE Fiscal period As of 12/20/2011 Transaction Category and Code - PR EMPLCRED,PW CONC/SPECL,PO W/OLEGAL,PV W/ORENT,PW CONO,PW HHCONC,PW RMFCONC,PW UFCONC,PO W/OO,PO W/OTERM,PO W/OTURN,PO W/OUTIL,PT MODEL,PW RESREL,PW RENTREIM; SubProperty - ALL; Format - Details + Summary; SubJournal - ALL; Show (No Activity) - Yes DETAIL Bldg / Unit Name Description Document Posted User Name Source Dep # Amounts PO W/OLEGAL Date Bank a/r Subtotal: 0 Items for PO - W/OLEGAL Debit/GL: 8613 Credit/GL: Total PO W/OO Subtotal: 0 Items for PO - W/OO Debit/GL: 8618 Credit/GL: PO W/OTERM * Marriott Execustay Edit Final Account Statement 08/21/2011 Tomi Diaz C 925 (4275) (4275) Scott Stukel Edit Final Account Statement 11/14/2011 Misty Brock C 925 (15084) Write-off Lease Termination Fee 11/25/2011 Misty Brock W 410 (14674) Bo Hyun Jung Edit Final Account Statement 10/28/2011 Tomi Diaz C 925 (40916) (40916) Lisa Marie Saylor Edit Final Account Statement 08/31/2011 Tomi Diaz C 925 (1,68974) Edit Final Account Statement 08/31/2011 Tomi Diaz C 925 (47665) (2,16639) * Oakwood Edit Final Account Statement 11/06/2011 Misty Brock C 925 (53563) (53563) Alessandra Babuscia Edit Final Account Statement 09/04/2011 Misty Brock C 925 (1,15200) (1,15200) * Oakwood Edit Final Account Statement 09/03/2011 Misty Brock C 925 (51733) (51733) Shihong Cao Write-off Lease Termination 12/20/2011 Misty Brock W Fee * Marriott Execustay Write-off Insufficient Notice Penalty Charges Edit Final Account Statement 12/20/2011 Misty Brock W , /21/2011 Tomi Diaz C 925 (16313) (16313) Subtotal: 12 Items for PO - W/OTERM Debit/GL: 8617 Credit/GL: 1212 (3,86257) (3,86257) PO W/OTURN Matt Ober Edit Final Account Statement 09/04/2011 Misty Brock C 925 (10000) Edit Final Account Statement 09/04/2011 Misty Brock C 925 (8500) (18500) Alessandra Babuscia * Oakwood Corporate Housing Edit Final Account Statement Write-off Charges For Cleaning Needed Write-off Damage Charges 09/04/2011 Misty Brock C 925 (3081) (3081) 12/08/2011 Misty Brock W /08/2011 Misty Brock W * Marriott Execustay Edit Final Account Statement 08/21/2011 Tomi Diaz C 925 (3498) (3498) David Anderson Edit Final Account Statement 10/03/2011 Misty Brock C 925 (11554) Write-Turn Over Costs - Anderson 11/25/2011 Misty Brock D Subtotal: 8 Items for PO - W/OTURN Debit/GL: 8612 Credit/GL: 1212 (3133) (3133) PO W/OUTIL

99 OneSite Rents v30 OneSite Reports - Holly Street Village Page 2 of 5 12/22/2011 3:32:41PM TRANSACTION DETAIL BY CODE Fiscal period As of 12/20/2011 Parameters: Transaction Category - ; DETAIL Date Bank Bldg / Unit Name Description Document Posted User Name Source Dep # Amounts a/r Total PO W/OUTIL (continued) * Marriott Execustay * LOUIS VUITTON US MANUFACTURI * Oakwood Corporate Housing * Marriott Execustay Edit Final Account Statement Edit Final Account Statement Write-off Utility Charges Edit Final Account Statement 08/21/2011 Tomi Diaz C 925 (5103) (5103) 08/10/2011 Misty Brock C 925 (6003) (6003) 12/08/2011 Misty Brock W /21/2011 Tomi Diaz C 925 (6785) (6785) Subtotal: 4 Items for PO - W/OUTIL Debit/GL: 8614 Credit/GL: 1212 (12558) (12558) PR EMPLCRED Guillermo Cabral EMPL 12/01/2011 Misty Brock A 2, , Nicole Hackett Employee Unit Rent Credit- 12/01/2011 Misty Brock A % Move-out Credit 12/07/2011 Misty Brock E (32258) Changed by Autobill 12/07/2011 Misty Brock C Move-out Credit 12/07/2011 Misty Brock E (30968) Changed by Autobill 12/07/2011 chris furukido C Move-out Credit 12/07/2011 chris furukido E (32258) Greg Reitz Employee Unit Rent Credit 12/01/2011 Misty Brock A 2, , Misty Brock Employee Unit Rent Credit 12/01/2011 Misty Brock A 1, ,93900 Subtotal: 9 Items for PR - EMPLCRED Debit/GL: 4521 Credit/GL: , ,27542 PT MODEL Model Model MODEL ALLOWANCE 12/01/2011 Misty Brock A 2, , One bedroom Model MODEL ALLOWANCE 12/01/2011 Misty Brock A 1, ,54200 Subtotal: 2 Items for PT - MODEL Debit/GL: 4522 Credit/GL: , ,72500 PV W/ORENT * Marriott Execustay Edit Final Account Statement Edit Final Account Statement 08/21/2011 Tomi Diaz C 925 (6293) 08/21/2011 Tomi Diaz C 925 (90994) (97287) * Oakwood Edit Final Account Statement 09/28/2011 Tomi Diaz C 925 (4016) (4016) Scott Stukel Edit Final Account Statement 11/14/2011 Misty Brock C 925 (1,25950) Write-off Rent 11/25/2011 Misty Brock W 1, Bo Hyun Jung Edit Final Account Statement 10/28/2011 Tomi Diaz C 925 (30203) Edit Final Account Statement 10/28/2011 Tomi Diaz C 925 (1,11201) Write-off Rent 12/05/2011 Tomi Diaz W Write-off Rent 12/05/2011 Tomi Diaz W 1,11201 (19084)

100 OneSite Rents v30 OneSite Reports - Holly Street Village Page 3 of 5 12/22/2011 3:32:41PM Parameters: Transaction Category - ; DETAIL TRANSACTION DETAIL BY CODE Fiscal period As of 12/20/2011 Bldg / Unit Name Description Document Posted User Name Source Dep # Amounts PV W/ORENT (continued) Date Bank a/r * Oakwood Edit Final Account Statement 11/06/2011 Misty Brock C 925 (197) (197) Total Matt Ober Edit Final Account Statement 09/04/2011 Misty Brock C 925 (33461) Edit Final Account Statement 09/04/2011 Misty Brock C 925 (7668) (41129) Victor Daykin Write-off Rent 12/19/2011 Misty Brock W * LOUIS VUITTON US MANUFACTURI Edit Final Account Statement Edit Final Account Statement 08/10/2011 Misty Brock C 925 (11156) 08/10/2011 Misty Brock C 925 (32774) (43930) * Oakwood Corporate Housing Write-off Rent Edit Final Account Statement 11/28/2011 Misty Brock W /28/2011 Misty Brock C (37907) Write-off Rent 12/08/2011 Misty Brock W * Oakwood Edit Final Account Statement 09/03/2011 Misty Brock C 925 (3792) (3792) * Marriott Execustay Write-off Rent Edit Final Account Statement 12/05/2011 Tomi Diaz W /05/2011 Tomi Diaz C (1565) Write-off Rent 12/05/2011 Tomi Diaz W * Marriott Execustay Write-off Rent Edit Final Account Statement 12/01/2011 Misty Brock W /01/2011 Tomi Diaz C (85713) Write-off Rent 12/05/2011 Tomi Diaz W * Marriott Execustay Edit Final Account Statement 08/21/2011 Tomi Diaz C 925 (83771) (83771) David Anderson Edit Final Account Statement 10/03/2011 Misty Brock C 925 (7091) Write-off Rent 11/25/2011 Misty Brock W 3645 (3446) Subtotal: 28 Items for PV - W/ORENT Debit/GL: 8615 Credit/GL: 1212 (1,75145) (1,75145) PW CONC/SPECL Subtotal: 0 Items for PW - CONC/SPECL Debit/GL: 4520 Credit/GL: PW CONO Subtotal: 0 Items for PW - CONO Debit/GL: 4580 Credit/GL: PW HHCONC Subtotal: 0 Items for PW - HHCONC Debit/GL: 4523 Credit/GL: PW RENTREIM Subtotal: 0 Items for PW - RENTREIM Debit/GL: 4520 Credit/GL: PW RESREL

101 OneSite Rents v30 OneSite Reports - Holly Street Village Page 4 of 5 12/22/2011 3:32:41PM Parameters: Transaction Category - ; DETAIL TRANSACTION DETAIL BY CODE Fiscal period As of 12/20/2011 Bldg / Unit Name Description Document Posted User Name Source Dep # Amounts PW RESREL Date Bank a/r (continued) Shruti Vora Reimbursement for placing a stop payment on partial rent check 12/18/2011 Misty Brock M Wynter Williams Per John Gregory- agreed to 12/07/2011 Misty Brock M 1, ,00000 match ECPAC $1000 donation Beth Staehling For flooding issue 12/06/2011 Misty Brock M Subtotal: 3 Items for PW - RESREL Debit/GL: 8565 Credit/GL: , ,78500 Total PW RMFCONC Subtotal: 0 Items for PW - RMFCONC Debit/GL: 4525 Credit/GL: PW UFCONC Subtotal: 0 Items for PW - UFCONC Debit/GL: 4526 Credit/GL:

102 OneSite Rents v30 OneSite Reports - Holly Street Village Page 5 of 5 12/22/2011 3:32:41PM TRANSACTION DETAIL BY CODE Fiscal period As of 12/20/2011 Parameters: Transaction Category - ; SUMMARY Code Description General Ledger Account Name Debit a/r Credit EMPLCRED Employee Unit Rent Credit Resident Receivables ,27542 MODEL MODEL ALLOWANCE Resident Receivables ,72500 RESREL Resident Relations Credit Resident Receivables ,78500 W/ORENT Write Off Rent Resident Receivables (1,75145) W/OTERM Write Term/Insuff Notice Resident Receivables (3,86257) W/OTURN Write-Turn Over Costs Resident Receivables (3133) W/OUTIL Write-Off Utilities Resident Receivables (12558) EMPLCRED Employee Unit Rent Credit Employee Allowances , MODEL MODEL ALLOWANCE Model Allowances , RESREL Resident Relations Credit Resident Relations , W/ORENT Write Off Rent Bad Debt Write Off - Rent 8615 (1,75145) 000 W/OTERM Write Term/Insuff Notice Bad Debt Write Off - Term/Noti 8617 (3,86257) 000 W/OTURN Write-Turn Over Costs Write-Turn Over Cost 8612 (3133) 000 W/OUTIL Write-Off Utilities Write-Off Utilities 8614 (12558) 000 Total 6, ,01449

103 OneSite Rents v30 OneSite Reports-Holly Street Village Page 1 of 7 12/22/2011 3:32:41PM RESIDENT DEPOSIT AUDIT A/R Parameters: Status - All; Order by - Unit Unit Name Status Move Out Date As of 12/20/2011 Total Dep Required Unit Deposit Pet Deposit Other Deposits Deposits On Hand Outstanding Deposit Walls, Angela Applicant Candia, Alexander Applicant Coxson, Michael Applicant Farnoudi, Mary Applicant Park, Myung Applicant Salzman, Phyllis Applicant Steel, Rebecca Applicant 2, ,02200 Ling, Xiao Applicant Kang-Choukroun, Iye Applicant Martin, Denise Applicant Williams, Venise Applicant Klug, David Applicant Horning, Donald Applicant Baraskar, Amitkumar resident Dickison, David resident Stanley, Marquee resident Manafi, Farideh resident Kattan, Denise resident Lareen, Naomi resident Capulong, Danilo resident Oakwood Corporate resident Housing, * De Los Santos, resident Shauntelle Mejia, Victor resident 2, , , Ziegler, Robie resident Crile, Andrew resident Espadas, Michelle resident Broughton, Lois resident Key Housing, * NTV 1, , , Richardson, Brett resident Corlew, Mike resident II, M I G resident 5, , , Jones, Edward resident 1, , , Xue, Frances resident Natalio, Davin resident 1, , , Abumostafa, Samar resident Miller, Lisa resident 1, , , Gamelin, Michael resident Yuan Zhong, Cui resident 2, , , Komanapalli, Joyce resident McLaughlin, Dolores resident 1, , , Castillo, Israel resident Stoskopf, Debra resident Wright, William resident Velazco, Ramon resident 1, , , Wilson, Jonathan resident Elmer, Emily Former resident 12/20/ Ramsey, Jeanette resident Toda, Kevin resident Sheikholeslami, Salar resident Pitassi, Clare resident Marriott Execustay, * resident Treu, Jacqueline resident Parikh, Ekta resident Liebl, Eric resident Ching, John resident

104 OneSite Rents v30 OneSite Reports-Holly Street Village Page 2 of 7 12/22/2011 3:32:41PM RESIDENT DEPOSIT AUDIT A/R Parameters: Status - All; Order by - Unit Unit Name Status Move Out Date As of 12/20/2011 Total Dep Required Unit Deposit Pet Deposit Other Deposits Deposits On Hand Outstanding Deposit Browne, Pamela resident Brown, Arlessie resident Bechtel, Jon resident Cook, Lory resident Walia, Shalia resident Rutherford, Ryan resident 1, , , Blake, Kelli resident Chae, Wonha NTV Kamble, Sfurti resident Mak, Hester resident Oakwood Corporate resident Housing, * Alexander, Paula resident Boyer, Calvin resident Estrada, Wendy resident 1, , , Ogden, Jason resident Smith, Krista resident Cahill, Michael resident Lee, Stephen resident Lu, Chungung resident Wiggins, Stephanie resident Dominguez, Henry resident Baenen, Annie resident Rasul, Shahla resident Zasa, Robert Joseph resident Yu, Jimi resident Wagar, Bruce resident Son, Miyoung resident 1, , , Tosaya, Dinah resident Schiller, Noelle resident 1, , , Cantagallo, Gina resident Monty, Antoinette resident Ge, Ling resident 1, , , Plaid, Cheyvee resident 1, , , Suite, Hospitality Guest resident Xula, Sergio resident Rodriguez, Gabriel resident 1, , , Almond, Whitney Applicant Yi, Evan resident Vashi, Ashish resident Pitic, Aldin resident Jeon, Sang resident Haines, Mark resident Crookshanks, Clark resident Jukes, Stephanie resident French, Ashley resident 1, , , Youngblood, Betty resident Senkandwa, Harriet resident 1, , , Patel, Rajen resident Reynolds, Laura resident Hafen, Landon resident Martinez, Christy resident 1, , , Phadtare, Parag NTV O`Laughlin, Erin resident Pickens, LaDonne resident Goodchild, David resident Zacny, Kris resident

105 OneSite Rents v30 OneSite Reports-Holly Street Village Page 3 of 7 12/22/2011 3:32:41PM RESIDENT DEPOSIT AUDIT A/R Parameters: Status - All; Order by - Unit Unit Name Status Move Out Date As of 12/20/2011 Total Dep Required Unit Deposit Pet Deposit Other Deposits Deposits On Hand Outstanding Deposit Johnson, Charles resident Meverden, Ashley resident Dinh, Tinny resident Ware, Elisa resident Scott, Angela resident Rios, Jose resident Hargrove, Charlene resident 1, , , Kang, Youn Sik resident Crockom, Latonia resident 1, , , Xu, Lin resident 1, , , Dobbert, Christopher resident Cabral, Guillermo resident Samsami, Hedayat resident Hernandez, Adrian resident 1, , , Gailen, Carol resident Wiener, Daniel resident Allen, Robert resident Comstock, Leslie resident Gillett, Paul resident Farkas, Michael resident Purves, Josh resident Jenkins, William resident Gichuhi, Grace resident Strametz, Laura resident Hess, Robert resident Luke, Janett resident Han, Younsik resident Vana, Allison resident Schwartz, Jennifer resident Thomas, Monique resident Burrows, Keith resident Dandino, Elizabeth resident De Silva, Ravi resident 1, , , Daryaie, Shahindokh resident Lee, Aaron resident Cunningham, Melissa resident Heath, Brandon resident 1, , , Menezes, Gustavo resident Estillore, Arthur resident Bradford, Eddie resident Austin, Talea resident 1, , , Sanchez, Blanca resident Richardson, Victoria resident 1, , , Blount, David resident Bye, Larry resident Coulter, Patricia resident Marquardt, Joel resident Reese, Magda resident Cox, Corey resident 1, , , Marriott Execustay, * resident Gonzalez, Juan resident 1, , , Fitzgerald, Katherine resident 1, , , Anne Simonsen, Austen resident 1, , , Oakwood Corporate resident Housing, * Salehi, Masoud resident

106 OneSite Rents v30 OneSite Reports-Holly Street Village Page 4 of 7 12/22/2011 3:32:41PM RESIDENT DEPOSIT AUDIT A/R Parameters: Status - All; Order by - Unit Unit Name Status Move Out Date As of 12/20/2011 Total Dep Required Unit Deposit Pet Deposit Other Deposits Deposits On Hand Outstanding Deposit Knox, Barsha resident Morgan, Shaunda resident Garcia, Bridget resident 1, , , Guy, Lillian resident Bentley, Marjorie resident Sedmak, Nicole resident 1, , , Delevi, Rakel resident Ford, Barbara resident Tuble, Sigrid resident 1, , , Large, Adrienne resident 1, , , Young, Brian resident Firoozy, Molouk resident Simmons, Jonathan resident Regency Corporate resident Living, * Guerrero, Mellissa resident Zhang, Erin resident 1, , , Goudeau, Julia resident 1, , , Diaz, Lenor resident Stewart, Gloria resident 1, , , Donnell, Brian resident Vora, Shruti resident Wakatsuki, Takeru resident 1, , , Jackson, Nathanael resident Hamilton, Ashley resident 2, , , Towns, Jeneal resident Birnbaum, Ben resident Moravcik, Eva resident Fischer, Tara resident Carlson, Stephanie resident 1, , , Lemoi, Alpherie resident 1, , , Donsbach, Paul resident 1, , , Hamilton, Dawn resident 1, , , Dayabhai-Jairambhai, resident Punam Winans, Kelly resident Thompson, Sharon resident Forteza, Evelyn resident 2, , , Mesmer, Ethan resident Castillo, Edilzar resident Nakayama, Satoshi resident Mac Dougall, Derek resident Gris, Angela resident 2, , , Offutt, Tressa resident Van Der Touw, Renee resident Cerny, Lindsey NTV 1, , , Zillgitt, Margaret resident (Stephanie) Riesen, Anne-Jose resident Haber, Mark resident Graves, Jason resident 1, , , Ward, Saraan resident PC Housing, * resident Kamali, Roza resident Jones, Robert resident Eiler, Janis resident Havel, Timothy resident

107 OneSite Rents v30 OneSite Reports-Holly Street Village Page 5 of 7 12/22/2011 3:32:41PM RESIDENT DEPOSIT AUDIT A/R Parameters: Status - All; Order by - Unit Unit Name Status Move Out Date As of 12/20/2011 Total Dep Required Unit Deposit Pet Deposit Other Deposits Deposits On Hand Outstanding Deposit Fagundes, David resident Ortiz, Maria resident 1, , , Country, Cross resident Ehrlich, Anne resident Latip, Jessica resident Hoshino, Takuya resident 1, , , Ramos, Mario resident Koike, Shinya resident 2, , , Bilovsky, Paula resident CSDS AIRCRAFT SALES resident LEASING I, Ben Spragg, Melissa resident 1, , , Hughes, Jeremy resident Liwanag, Allen resident Dubois, Tammy resident Loo, Paul resident SCI LIVE INC, * resident Kearney, Ellyn P resident Marchionda, Frankie resident Taylor-Wheat, Madeline resident ICE ENERGY, INC, * resident Hadley, Amber resident 1, , , Barber, LaToya resident Miller, Jennifer Applicant Irizarry, Yvette resident Soudjian, Ara resident Ng, Airin resident 2, , , Syed, Asad resident Pozo, Ruth resident Oakwood, * resident Kong, Nancy resident Orozco, Rafael resident 1, , , Teta, Rosemary resident Williams, Wynter resident Stiles, Noelle resident Wilson, Toni resident Scheinhorn, David resident Lal, Shalini resident Morawiec, Amy resident Knowlton, Katherine resident Santamaria, Diane resident 1, , , Magarian, Shirley resident Jackson, Timothy resident Lewis, James resident Reising, Breanna resident Schafer, Scott resident 1, , , Franklin, Robert resident Sumarli, Dominic resident Wang, Jingyaun resident 2, , , Flores, Marlene resident Rundall, Yang resident Elsberry, Mary resident Blackmon, Amy resident Martinez, Robert resident Kockler, Jennifer resident Kushwaha, Arjun resident

108 OneSite Rents v30 OneSite Reports-Holly Street Village Page 6 of 7 12/22/2011 3:32:41PM RESIDENT DEPOSIT AUDIT A/R Parameters: Status - All; Order by - Unit Unit Name Status Move Out Date As of 12/20/2011 Total Dep Required Unit Deposit Pet Deposit Other Deposits Deposits On Hand Outstanding Deposit Oakwood Corporate resident Housing, * Brooks, Bobbie resident 1, , , Oakwood Corporate resident Housing, * Sibois, Aurore resident 1, , , Zacharias, Brian NTV Hobbie, Suzanne resident Communities, Episcopal resident 13, , , Homes Tanning, Santoyo resident 5, , , Erner, Berk resident Model, Model resident Smith, Robert resident Manukyan, Gegham resident Horning, Donald resident Macazana, Carmen resident Cecilia Model, One bedroom resident Marshall, Robert resident Kaufmann, Corey resident Wilson, John resident Dabiri, Parvin resident Garcia, David resident Shah, Ashish resident Peter, Julia resident Bautista, Judy resident Crockom, Darrell resident Shumilo, Gayane resident Vallee, Sebastien resident Dial, Mark resident Elem, Evelyn resident Yau, Arthur resident Yagjian, Cora resident Jones, Adriana resident Wells, Derek resident Moss, Denise resident Ng, Tzu Ming resident 1, , , Morris, Michael resident 2, , , Tracas, Michael resident 1, , , Witt, Alberta resident Teece, Daniel resident Cleek, Elizabeth resident Doyle, Melissa resident Seubert, Carl resident Zamani, Nahid resident Clavecilla, Christine resident Greenberg, Peter resident 1, , , Wiesner, Martin resident 2, , , Donorovich, Ashley resident 1, , , Ogorodov, Denis resident 2, , , Klug, David resident Marriott Execustay, * resident K TEK BUSINESS resident 1, , , SOLUTIONS, LL, * Carmody, Brian resident Percival, Jeffrey resident 2, , , Collins, Nancy resident

109 OneSite Rents v30 OneSite Reports-Holly Street Village Page 7 of 7 12/22/2011 3:32:41PM RESIDENT DEPOSIT AUDIT A/R Parameters: Status - All; Order by - Unit Unit Name Status Move Out Date As of 12/20/2011 Total Dep Required Unit Deposit Pet Deposit Other Deposits Deposits On Hand Outstanding Deposit 7-G15 Astrero, James resident G17 Lee, Paul resident 2, , , Hamer, Andrew resident 1, , , Du, Jen-Hsiang resident 3, , , Harston, Tiffany resident 2, , , McFatter, Stuart Gavin resident Lukesh, Warren resident Kim, Boo resident Morel, Jose resident Izadi, Behat resident Urgelles, Jennifer resident Alvarez, Carlota resident Burchfield, Ryan resident 1, , , Newson, Deborah resident Oakwood Corporate resident Housing, * Meshkat, Leila resident Grzecka, Amy resident Rodriguez, Monica resident Aimaq, Rahim resident Gil, Ivonne resident 1, , , Marriott ExecuStay, * resident Herlong, Dwight resident Vindeni, Mario resident Hodges, Jasmin resident 1, , , Rivera, Reuben resident Wu, Yi-hsin resident Davis, Edward resident Wittmier, Shawn resident NEW ARMOUR, INC, * resident Martin, Robert resident Wada, Steven resident Turner, Kimmie resident Jimenez Paulino, Lara resident Jane Reitz, Greg resident Hargis, Paul resident Kushner, James resident Duque, Sergio resident 1, , , Little, Matthew resident Kroger, Edward resident Brock, Misty resident Tobia, Jr, Stephen resident Vega, Tanya resident Levitt, Cindy resident Wilson, Jack resident Kimball, Shelley resident Falls, Jonathan resident Staehling, Beth resident Griffith, Irene resident Sec 8 Adjustments, Section 8 resident Totals: 293, , , ,42200

110 Holly Street LP Schedule of Real Estate / Personal Property Taxes For the year ended 2011 DR (CR) Real Estate Prepaid Prepaid Real Accrued Real Real Estate CFD Area SUMMARY OF CURRENT REAL ESTATE / PERSONAL PROPERTY TAX BILLS ON FILE Escrow CFD Taxes Estate Taxes Estate Taxes Tax Expense Tax Expense Taxing Due Discount Balance per 01-Mar (222,63029) (147,52604) 75,99376 Parcel # Tax Year Authority Date(s) Amount Terms /01/ COUNTY 12/10/10 813, /30/ /10/11 year RET accrual (891,73213) 891,73213 (see supporting calc below) /01/ COUNTY 12/10/10 35, /30/ /10/11 CFD Area tax accrual (455,96328) 455, /01/ COUNTY 12/10/10 11,41908 City of Pasadena 6/30/ /10/11 LA County Tax Payment 441, /01/ COUNTY 12/10/10 24,76206 LA County Tax Payment 6/30/ /10/11 Prepaid Tax - May/June ,52604 (147,52604) Reclass Prepaid Personal Prop Tax Prepaid Tax - May 2011 (73,76302) 73,76302 TOTAL CASH BASIS EXPENSE (FISCAL YEAR) 885,15627 Prepaid Tax - May 2011 (73,76302) 73,76302 CFD Area tax payment 06/11 227,98125 CFD Area tax payment 10/11 227,98125 LA County Tax Payment 449,92821 Reclass Prepaid Personal Prop Tax (77422) 079 (068) (012) Total Real Estate Taxes (000) 891, ,96316 Balance per 12/31/ , , Supporting Calculations: Actual /10/2010 4/10/ /11-12/11 LA County RE Tax Payments-Actual $ 442,57814 $ 442,57814 $ 449,92821 year RET accrual 73, , ,85900 CFD Area tax accrual BUDGET 37,99688 \\saresfs01\personal\stan\documents\sharepoint Drafts\[543 Prop Tax Schedulexls]12-11

111 Holly Street LP Schedule of Insurance For the year ended 2011 DR (CR) Insurance Prepaid Insurance POLICY TYPE Escrow Insurance 1812 Expense /1/11 25, Payment of insurance premiums 151,04663 Other Insurance Expense Total prior year premiums (25,98780) 25,98780 Insurance Policy Summary Accrue Year Insurance Insurance Premiums Policy Term Monthly Mo's of Mo's of year policies: (cash basis) Term (in months) Expense Expense Prepaid Environmental Environmental California Earthquake (11,00951) 11, ,21141 California Earthquake 12 1, General Liability (3,49984) 3, ,19981 General Liability Property/Excess Property (101,11568) 101, ,33882 Property/Excess Prope 12 10, Service Fee (4,12794) 4, ,95353 Service Fee Umbrella/Excess Liability (1,95252) 1, ,34302 Umbrella/Excess Liabil Loss Fund (3,49568) 3, ,19481 Loss Fund TPA Cost (67103) TPA Cost , ,58722 Total current year premiums (125,87220) 125,87220 Total premiums 25, ,86000 Balance per G/L December-11 25, , (027) \\saresfs01\personal\stan\documents\sharepoint Drafts\[543 Owner Insurance Schedulexls]11-11

112 R /5/ :32:18 SRG0001 Payment Register Page - 1 Check Register - All Payment Types With Voids Batch Number Pay Type Payment Number Check Date Supplier Number Name LT Account Number Description Amount PO /9/ Jones, Roy AA Holly Street General Checking Supplier Jones, Roy Check Date 6/9/ Batch Number PK /1/ AA Holly Street General Checking Supplier PK /1/ American Utility Management, I AA Holly Street General Checking 1, Supplier American Utility Management, I 1, PK /1/ Apt Personnel Staffing AA Holly Street General Checking 1, Supplier Apt Personnel Staffing 1, PK /1/ Coast Appliance Parts & AA Holly Street General Checking Supplier Coast Appliance Parts & PK /1/ Dewey Pest & Termite Control AA Holly Street General Checking 1, Supplier Dewey Pest & Termite Control 1, PK /1/ Grinnell Window Cleaning, Inc AA Holly Street General Checking Supplier Grinnell Window Cleaning, Inc PK /1/ HD Supply Facilities Maintenan AA Holly Street General Checking 1, Supplier HD Supply Facilities Maintenan 1, PK /1/ Lee, Andrew AA Holly Street General Checking Supplier Lee, Andrew PK /1/ Lutz, Bonnie AA Holly Street General Checking Supplier Lutz, Bonnie PK /1/ Lux, Anna AA Holly Street General Checking Supplier Lux, Anna PK /1/ AA Holly Street General Checking 2, Supplier 2, PK /1/ Sares Regis Management Company AA Holly Street General Checking 1, Supplier Sares Regis Management Company 1, PK /1/ Summit Air Conditioning AA Holly Street General Checking 10,30875-

113 R09313 SRG0001 Batch Number 1/5/ :32:18 Payment Register Page - 2 Check Register - All Payment Types With Voids Pay Payment Check Supplier Type Number Date Number Name LT Account Number Description Amount Supplier Summit Air Conditioning 10, PK /1/ Sunrise Pools AA Holly Street General Checking Supplier Sunrise Pools Check Date 12/1/ , Supplier American Utility Management, I Check Date 12/31/2011 Batch Number , PN /31/ American Utility Management, I AA Holly Street General Checking Supplier SARES-REGIS Group Check Date 12/31/2011 Batch Number PN /31/ SARES-REGIS Group AA Holly Street General Checking 11, , , Supplier American Utility Management, I Check Date 12/1/2011 Batch Number , PN /1/ American Utility Management, I AA Holly Street General Checking 18, , , Batch Number , PK /1/ Apt Personnel Staffing AA Holly Street General Checking Supplier Apt Personnel Staffing PK /1/ ArrowheadDrinkingWater AA Holly Street General Checking Supplier ArrowheadDrinkingWater PK /1/ ASCI Security AA Holly Street General Checking Supplier ASCI Security PK /1/ Cam Services, Inc AA Holly Street General Checking 5, Supplier Cam Services, Inc 5, PK /1/ Classic Tub Repair AA Holly Street General Checking Supplier Classic Tub Repair PK /1/ Fire Safety First AA Holly Street General Checking Supplier Fire Safety First PK /1/ For Rent Magazine AA Holly Street General Checking

114 R09313 SRG0001 Batch Number 1/5/ :32:18 Payment Register Page - 3 Check Register - All Payment Types With Voids Pay Payment Check Supplier Type Number Date Number Name LT Account Number Description Amount Supplier For Rent Magazine PK /1/ Franchi, Claudia AA Holly Street General Checking Supplier Franchi, Claudia PK /1/ General Electric Co AA Holly Street General Checking 1, Supplier General Electric Co 1, PK /1/ Great American Business Prod AA Holly Street General Checking Supplier Great American Business Prod PK /1/ HD Supply Facilities Maintenan AA Holly Street General Checking Supplier HD Supply Facilities Maintenan PK /1/ Iturbe, Nicole AA Holly Street General Checking Supplier Iturbe, Nicole PK /1/ Lead Tracking Solutions AA Holly Street General Checking Supplier Lead Tracking Solutions PK /1/ Move Sales, Inc AA Holly Street General Checking Supplier Move Sales, Inc PK /1/ MyNewPlace AA Holly Street General Checking Supplier MyNewPlace PK /1/ Pasadena Chamber of Commerce AA Holly Street General Checking Supplier Pasadena Chamber of Commerce PK /1/ Pasadena, City of AA Holly Street General Checking Supplier Pasadena, City of PK /1/ PMJobscom AA Holly Street General Checking Supplier PMJobscom PK /1/ Rainbow Carpet Cleaners AA Holly Street General Checking Supplier Rainbow Carpet Cleaners PK /1/ Regency Lighting AA Holly Street General Checking Supplier Regency Lighting PK /1/ RentCom AA Holly Street General Checking Supplier RentCom

115 R09313 SRG0001 Batch Number 1/5/ :32:18 Payment Register Page - 4 Check Register - All Payment Types With Voids Pay Payment Check Supplier Type Number Date Number Name LT Account Number Description Amount PK /1/ Sares Regis Management Company AA Holly Street General Checking 1, Supplier Sares Regis Management Company 1, PK /1/ Staples Advantage AA Holly Street General Checking Supplier Staples Advantage PK /1/ Total Access Elevator AA Holly Street General Checking Supplier Total Access Elevator PK /1/ Wells Law Group, APC AA Holly Street General Checking Supplier Wells Law Group, APC PK /1/ Whisk Cleaning Services, Inc AA Holly Street General Checking Supplier Whisk Cleaning Services, Inc PK /1/ Wilmar AA Holly Street General Checking Supplier Regency Lighting Check Date 12/1/2011 Supplier Wilmar PO /1/ Regency Lighting AA Holly Street General Checking , Supplier Deutsche Bank Check Date 12/31/2011 Batch Number , PN /31/ Deutsche Bank AA Holly Street General Checking 32, , , Batch Number , PK /7/ HD Supply Facilities Maintenan AA Holly Street General Checking 1, Supplier HD Supply Facilities Maintenan 1, PK /7/ Regency Lighting AA Holly Street General Checking Supplier Regency Lighting PK /7/ Talancon, Jose Luis & Escobar AA Holly Street General Checking Supplier Talancon, Jose Luis & Escobar Check Date 12/7/ , Batch Number , PN /7/ American Utility Management, I AA Holly Street General Checking 5,29213-

116 R /5/ :32:18 SRG0001 Batch Number Pay Type Payment Number Check Date Payment Register Page - 5 Check Register - All Payment Types With Voids Supplier Number Name LT Account Number Description Amount Supplier American Utility Management, I 5, Check Date 12/7/2011 5, Supplier Deutsche Bank Check Date 12/31/2011 Batch Number , PN /31/ Deutsche Bank AA Holly Street General Checking 136, , , Batch Number , PK /13/ Sares Regis Management Company AA Holly Street General Checking 25, Supplier Sares Regis Management Company 25, PK /13/ SARES-REGIS Group AA Holly Street General Checking 9, Supplier SARES-REGIS Group Check Date 12/13/2011 9, , Batch Number , PK /14/ Apartment Newsletterscom AA Holly Street General Checking Supplier Apartment Newsletterscom PK /14/ Apt Personnel Staffing AA Holly Street General Checking 4, Supplier Apt Personnel Staffing 4, PK /14/ Benrich Service Company, Inc AA Holly Street General Checking Supplier Benrich Service Company, Inc PK /14/ Cam Services, Inc AA Holly Street General Checking 5, Supplier Cam Services, Inc 5, PK /14/ Classic Tub Repair AA Holly Street General Checking 1, Supplier Classic Tub Repair 1, PK /14/ Dewey Pest & Termite Control AA Holly Street General Checking Supplier Dewey Pest & Termite Control PK /14/ Diaz, Tomi AA Holly Street General Checking Supplier Diaz, Tomi PK /14/ Executive Amenities, inc AA Holly Street General Checking Supplier Executive Amenities, inc PK /14/ Federal Express AA Holly Street General Checking

117 R09313 SRG0001 Batch Number 1/5/ :32:18 Payment Register Page - 6 Check Register - All Payment Types With Voids Pay Payment Check Supplier Type Number Date Number Name LT Account Number Description Amount Supplier Federal Express PK /14/ Fire-N-Ice Heating & A/C AA Holly Street General Checking Supplier Fire-N-Ice Heating & A/C PK /14/ For Rent Magazine AA Holly Street General Checking Supplier For Rent Magazine PK /14/ Frazee Paint AA Holly Street General Checking Supplier Frazee Paint PK /14/ Golden State Fire Extinguisher AA Holly Street General Checking Supplier Golden State Fire Extinguisher PK /14/ Great American Business Prod AA Holly Street General Checking Supplier Great American Business Prod PK /14/ HD Supply Facilities Maintenan AA Holly Street General Checking 6, Supplier HD Supply Facilities Maintenan 6, PK /14/ Karimi, Koroush John AA Holly Street General Checking Supplier Karimi, Koroush John PK /14/ Karimi, Roxana AA Holly Street General Checking Supplier Karimi, Roxana PK /14/ Leaselabs AA Holly Street General Checking Supplier Leaselabs PK /14/ Move Sales, Inc AA Holly Street General Checking Supplier Move Sales, Inc PK /14/ National Glass AA Holly Street General Checking Supplier National Glass PK /14/ Oakwood Corporate Housing, * AA Holly Street General Checking Supplier Oakwood Corporate Housing, * PK /14/ Ops Technology, Inc AA Holly Street General Checking Supplier Ops Technology, Inc PK /14/ Purchase Power AA Holly Street General Checking Supplier Purchase Power

118 R09313 SRG0001 Batch Number 1/5/ :32:18 Payment Register Page - 7 Check Register - All Payment Types With Voids Pay Payment Check Supplier Type Number Date Number Name LT Account Number Description Amount PK /14/ Rainbow Carpet Cleaners AA Holly Street General Checking Supplier Rainbow Carpet Cleaners PK /14/ Regency Lighting AA Holly Street General Checking 1, Supplier Regency Lighting 1, PK /14/ Regency Lighting AA Holly Street General Checking Supplier Regency Lighting PK /14/ AA Holly Street General Checking 14, Supplier 14, PK /14/ RentCom AA Holly Street General Checking 1, Supplier RentCom 1, PK /14/ SARES-REGIS Group AA Holly Street General Checking Supplier SARES-REGIS Group PK /14/ Sinacori Plumbing AA Holly Street General Checking Supplier Sinacori Plumbing PK /14/ Staples Advantage AA Holly Street General Checking Supplier Staples Advantage PK /14/ Warnock, Janae AA Holly Street General Checking Supplier Warnock, Janae PK /14/ Wells Law Group, APC AA Holly Street General Checking Supplier Wells Law Group, APC PK /14/ Wilmar AA Holly Street General Checking Supplier Wilmar Check Date 12/14/ , Supplier American Utility Management, I Check Date 12/15/2011 Batch Number , PN /15/ American Utility Management, I AA Holly Street General Checking Batch Number Grand Total 324,39719-

119 R04423C 1/5/ :35:47 SRG0001 "As-Of"A/P Detail by Supplier with Remarks and Net Amounts Page - 1 AsOf 12/31/2011 Company Holly Street LP General Electric Co Invoice Number Invoice Date Ty Document Number Ref Co Itm Due Date Original Amount Open Amount Discount Available Net Amount Pay Stat Remark /24/2011 PD /31/ A #1-418 RETURN DAMAGED FRIDGE General Electric Co HD Supply Facilities Maintenance, Ltd /23/2011 PD /31/ A #9-104 KITCHEN CABINETS HD Supply Facilities Maintenance, Ltd Wilmar /8/2011 PV /8/ A Cust# WIL Wilmar Holly Street LP Grand Total:

120 R /30/ :23:30 G/L by Object Account Page - 1 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Holly Street LP Petty Cash Holly Street General Checking Balance Forward Object Account Total Balance Forward 62, , /01/11 funding JE /31/ ,00000 AA P /01/11 funding 543 FUNDING JE /31/ ,00000 AA P FUNDING FUNDING JE /31/ ,00000 AA P /12/11 FUNDING FUNDING JE /31/ ,00000 AA P /14/11 FUNDING FUNDING JE /31/ ,00000 AA P /22/11 FUNDING American Utility Management, I PN /31/ AA P SARES-REGIS Group PN /31/ , AA P Deutsche Bank PN /31/ , AA P Deutsche Bank PN /31/ , AA P Jones, Roy PO /31/ AA P American Utility Management, I PN /15/ AA P Apartment Newsletterscom PK /14/ AA P Apt Personnel Staffing PK /14/2011 4, AA P Benrich Service Company, Inc PK /14/ AA P Cam Services, Inc PK /14/2011 5, AA P Classic Tub Repair PK /14/2011 1, AA P Dewey Pest & Termite Control PK /14/ AA P Diaz, Tomi PK /14/ AA P Executive Amenities, inc PK /14/ AA P Federal Express PK /14/ AA P Fire-N-Ice Heating & A/C PK /14/ AA P For Rent Magazine PK /14/ AA P Frazee Paint PK /14/ AA P Golden State Fire Extinguisher PK /14/ AA P Great American Business Prod PK /14/ AA P HD Supply Facilities Maintenan PK /14/2011 6, AA P Karimi, Koroush John PK /14/ AA P Karimi, Roxana PK /14/ AA P Leaselabs PK /14/ AA P Move Sales, Inc PK /14/ AA P

121 R /30/ :23:30 G/L by Object Account Page - 2 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch National Glass PK /14/ AA P Oakwood Corporate Housing, * PK /14/ AA P Ops Technology, Inc PK /14/ AA P Purchase Power PK /14/ AA P Rainbow Carpet Cleaners PK /14/ AA P Regency Lighting PK /14/2011 1, AA P Regency Lighting PK /14/ AA P PK /14/ , AA P RentCom PK /14/2011 1, AA P SARES-REGIS Group PK /14/ AA P Sinacori Plumbing PK /14/ AA P Staples Advantage PK /14/ AA P Warnock, Janae PK /14/ AA P Wells Law Group, APC PK /14/ AA P Wilmar PK /14/ AA P Sares Regis Management Company PK /13/ , AA P SARES-REGIS Group PK /13/2011 9, AA P HD Supply Facilities Maintenan PK /7/2011 1, AA P Regency Lighting PK /7/ AA P Talancon, Jose Luis & Escobar PK /7/ AA P American Utility Management, I PN /7/2011 5, AA P PK /1/ AA P American Utility Management, I PK /1/2011 1, AA P Apt Personnel Staffing PK /1/2011 1, AA P Coast Appliance Parts & PK /1/ AA P Dewey Pest & Termite Control PK /1/2011 1, AA P Grinnell Window Cleaning, Inc PK /1/ AA P HD Supply Facilities Maintenan PK /1/2011 1, AA P Lee, Andrew PK /1/ AA P Lutz, Bonnie PK /1/ AA P Lux, Anna PK /1/ AA P PK /1/2011 2, AA P Sares Regis Management Company PK /1/2011 1, AA P Summit Air Conditioning PK /1/ , AA P Sunrise Pools PK /1/ AA P Apt Personnel Staffing PK /1/ AA P ArrowheadDrinkingWater PK /1/ AA P ASCI Security PK /1/ AA P Cam Services, Inc PK /1/2011 5, AA P Classic Tub Repair PK /1/ AA P

122 R /30/ :23:30 G/L by Object Account Page - 3 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Fire Safety First PK /1/ AA P For Rent Magazine PK /1/ AA P Franchi, Claudia PK /1/ AA P General Electric Co PK /1/2011 1, AA P Great American Business Prod PK /1/ AA P HD Supply Facilities Maintenan PK /1/ AA P Iturbe, Nicole PK /1/ AA P Lead Tracking Solutions PK /1/ AA P Move Sales, Inc PK /1/ AA P MyNewPlace PK /1/ AA P Pasadena Chamber of Commerce PK /1/ AA P Pasadena, City of PK /1/ AA P PMJobscom PK /1/ AA P Rainbow Carpet Cleaners PK /1/ AA P Regency Lighting PK /1/ AA P RentCom PK /1/ AA P Sares Regis Management Company PK /1/2011 1, AA P Staples Advantage PK /1/ AA P Total Access Elevator PK /1/ AA P Wells Law Group, APC PK /1/ AA P Whisk Cleaning Services, Inc PK /1/ AA P Wilmar PK /1/ AA P American Utility Management, I PN /1/ , AA P Regency Lighting PO /1/ AA P Holly Street General Checking Cash-Rehab Period Total 301, , , Account Total 363, , ,17603 Object Account Total 363, , ,17603 Balance Forward 4, , /11 Funding for Draw#25 JE /31/ ,02236 AA P Funding for Draw #25 Cash-Rehab Cash-Rental Account Period Total 19, ,02236 Account Total 23, ,84776 Object Account Total 23, ,84776 Balance Forward 33, , Bank Rec JE /31/ AA P Merchant Bankcard Fee Bank Rec JE /31/ AA P

123 R /30/ :23:30 G/L by Object Account Page - 4 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Billing Fee Ty Document Date Co Debit Credit Balance LT C Batch Bank Rec JE /31/2011 7, AA P EFT 11/22/ Bank Rec JE /31/2011 7, AA P EFT 11/23/ Bank Rec JE /31/2011 3, AA P EFT 11/25/ Bank Rec JE /31/2011 3, AA P EFT 11/28/ Bank Rec JE /31/ , AA P EFT 11/29/ Bank Rec JE /31/ , AA P EFT 11/30/11 EFT 12/11 JE /31/ , AA P /01/11 EFT 12/11 JE /31/ , AA P /02/11 EFT 12/11 JE /31/ , AA P /05/11 EFT 12/11 JE /31/ , AA P /06/11 EFT 12/11 JE /31/ , AA P /07/11 EFT 12/11 JE /31/ , AA P /08/11 EFT 12/11 JE /31/ , AA P /09/11 EFT 12/11 JE /31/2011 3, AA P /12/11 EFT 12/11 JE /31/ , AA P /13/11 EFT 12/11 JE /31/ , AA P /14/11 EFT 12/11 JE /31/2011 2, AA P /15/11 EFT 12/11 JE /31/ , AA P /16/11 Rental Activity JE /20/ ,38099 AA P Cash-Rental Account Rental Activity JE /20/ ,40478 AA P Cash-Rental Account Cash-Rental Account Period Total 688, , Account Total 722, , ,66849 Object Account Total 722, , ,66849

124 R /30/ :23:30 G/L by Object Account Page - 5 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Cash-Money Market Balance Forward 142, , /01/11 funding JE /31/ , AA P /01/11 funding 543 FUNDING JE /31/ , AA P FUNDING Bank Rec JE /31/ AA P Interest Bank Rec JE /31/2011 7,01541 AA P EFT 11/22/ Bank Rec JE /31/2011 7,57390 AA P EFT 11/23/ Bank Rec JE /31/2011 3,52175 AA P EFT 11/25/ Bank Rec JE /31/2011 3,21244 AA P EFT 11/28/ Bank Rec JE /31/ ,50320 AA P EFT 11/29/ Bank Rec JE /31/ ,68709 AA P EFT 11/30/ FUNDING JE /31/ , AA P /12/11 FUNDING FUNDING JE /31/ , AA P /14/11 FUNDING EFT 12/11 JE /31/ ,24131 AA P /01/11 EFT 12/11 JE /31/ ,23110 AA P /02/11 EFT 12/11 JE /31/ ,44946 AA P /05/11 EFT 12/11 JE /31/ ,03239 AA P /06/11 EFT 12/11 JE /31/ ,45991 AA P /07/11 EFT 12/11 JE /31/ ,92463 AA P /08/11 EFT 12/11 JE /31/ ,22587 AA P /09/11 EFT 12/11 JE /31/2011 3,99221 AA P /12/11 EFT 12/11 JE /31/ ,73257 AA P /13/11 EFT 12/11 JE /31/ ,38788 AA P /14/11 EFT 12/11 JE /31/2011 2,13480 AA P

125 R /30/ :23:30 G/L by Object Account Page - 6 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark 12/15/11 Ty Document Date Co Debit Credit Balance LT C Batch EFT 12/11 JE /31/ ,98626 AA P /16/ FUNDING JE /31/ , AA P /22/11 FUNDING 12/11 Cash Distribution JE /31/ , AA P /11 Distribution Cash-Money Market Cash-Security Deposits Period Total 689, , ,43218 Account Total 832, , ,10382 Object Account Total 832, , ,10382 Balance Forward 268, , Bank Rec JE /31/ AA P Interest Cash-Security Deposits Cash-Civic Center Res Resident Receivables Period Total Account Total 268, ,84533 Object Account Total 268, ,84533 Balance Forward 1,329, ,329,06680 Object Account Total 1,329, ,329,06680 Rental Activity Resident Receivables Rental Activity Resident Receivables Rental Activity Resident Receivables Rental Activity Resident Receivables Balance Forward 21, ,45216 JE /20/ ,58868 AA P JE /20/ ,96080 AA P JE /20/ , AA P JE /20/ , AA P Resident Receivables A/R Contra-Unearned Rent Period Total 671, , , Account Total 693, , ,00787 Object Account Total 693, , , Rental Activity A/R Contra-Unearned Rent A/R Contra-Unearned Rent Balance Forward 29, , JE /20/ , AA P Period Total 12, , Account Total 42, ,16609-

126 R /30/ :23:30 G/L by Object Account Page - 7 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Object Account Total 42, , Due For Payroll Balance Forward 1,183, ,183, Object Account Total 1,183, ,183, Developed Land Appliances Balance Forward 13,372, ,372,69745 Object Account Total 13,372, ,372,69745 Balance Forward 198, , Countertops Balance Forward 170, , Interior Building Balance Forward 23, , Interior Painting Balance Forward 46, , Plumbing Balance Forward 56, , Supervision Fee Sares Regis Management Company 10/11 REHAB FEE WIP II Balance Forward 38, ,08802 PV /31/2011 1,59657 AA P Supervision Fee Multi-Family Appliances Period Total 1, ,59657 Account Total 39, ,68459 Object Account Total 535, ,74198 Balance Forward 64,524, ,524,29698 Object Account Total 64,524, ,524,29698 Balance Forward 62, , Brochures (Lease Up) Balance Forward 25, , Building Lighting Balance Forward 40, , Cabinets/Closets Elevators & Escalators Balance Forward 688, ,39830

127 R /30/ :23:30 G/L by Object Account Page - 8 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Balance Forward 9, , Floor Coverings Balance Forward 293, , HVAC Balance Forward /11 HVAC Reclass JE /31/2011 2,20000 AA P R410A Hvac Conversion 12/11 HVAC Reclass JE /31/2011 1,80000 AA P R410A HVAC Conversion 12/11 HVAC Reclass JE /31/2011 1,90000 AA P Installed new 3 ton heat 12/11 HVAC Reclass JE /31/2011 2,62400 AA P PV Summit Air Cond 12/11 HVAC Reclass JE /31/2011 2,00000 AA P installed new air handle 12/11 HVAC Reclass JE /31/2011 2,30000 AA P replace 2 ton condensor 12/11 HVAC Reclass JE /31/2011 1,75000 AA P replace 1 1/2 ton fan co 12/11 HVAC Reclass JE /31/2011 2,30000 AA P replace 2 ton condensor 12/11 HVAC Reclass JE /31/2011 2,30000 AA P replace heat pump conden 12/11 HVAC Reclass JE /31/2011 2,40000 AA P replace 3 ton HP 12/11 HVAC Reclass JE /31/2011 2,30000 AA P replace/install 25 ton 12/11 HVAC Reclass JE /31/2011 3,00000 AA P PV Summit Air Cond 12/11 HVAC Reclass JE /31/2011 1,84000 AA P replace 205 ton fan coi 12/11 HVAC Reclass JE /31/ AA P goodman 20 heat pump 12/11 HVAC Reclass JE /31/ AA P TAX 12/11 HVAC Reclass JE /31/ AA P goodman 15 ton heat pump 12/11 HVAC Reclass JE /31/ AA P TAX 12/11 HVAC Reclass JE /31/2011 1,12500 AA P replace 2 ton condensor 12/11 HVAC Reclass JE /31/2011 1,15000 AA P replcae condensor

128 R /30/ :23:30 G/L by Object Account Page - 9 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch 12/11 HVAC Reclass JE /31/2011 1,80000 AA P replace 2 ton gan coil 12/11 HVAC Reclass JE /31/2011 1,10000 AA P replace condensing unit 12/11 HVAC Reclass JE /31/2011 1,80000 AA P replace 2f fan coil labor 12/11 HVAC Reclass JE /31/ AA P Ton Condensing Unit- Goodm 12/11 HVAC Reclass JE /31/2011 1,90000 AA P replace 2/12 ton fan coil 12/11 HVAC Reclass JE /31/2011 2,30000 AA P replacement of 25t condensing 12/11 HVAC Reclass JE /31/2011 1,90000 AA P /11 HVAC Reclass JE /31/2011 1,10000 AA P condensor 12/11 HVAC Reclass JE /31/2011 1,07858 AA P PV HD Supply 12/11 HVAC Reclass JE /31/ AA P GOODMAN 15T DRY22 HEAT PUMP 12/11 HVAC Reclass JE /31/2011 1,90000 AA P replace 2-ton fan coil 12/11 HVAC Reclass JE /31/2011 1,07858 AA P GOODMAN 25T DRY 22 HEAT PUMP 12/11 HVAC Reclass JE /31/2011 1,90000 AA P replace fan coil 12/11 HVAC Reclass JE /31/2011 1,90000 AA P replace fan coil 12/11 HVAC Reclass JE /31/2011 1,10000 AA P Repalcement of Condensing Unit 12/11 HVAC Reclass JE /31/2011 2,30000 AA P Replacement of Condensing Unit 12/11 HVAC Reclass JE /31/ AA P GOODMAN 20T DRY22 HEAT PUMP HVAC Account Total Interior Building Period Total 58, , , ,77579 Balance Forward 417, , Interior Design Balance Forward 238, , Painting-Exterior Painting-Interior Balance Forward 297, ,17025

129 R /30/ :23:30 G/L by Object Account Page - 10 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Balance Forward 100, , Plumbing Balance Forward Recreation Building Balance Forward Signs & Flage Balance Forward 87, , Rehab Supervision Fee Sares Regis Management Company 10/11 REHAB FEE WIP Balance Forward 193, ,65470 PV /31/ AA P Rehab Supervision Fee Account Total Rehab Contingency Office Furniture Pool Furniture Period Total , ,87739 Balance Forward 159, ,03705 Object Account Total 2,675, ,675,19374 Balance Forward 458, ,46667 Object Account Total 458, ,46667 Balance Forward 12, , Recreation Equipment Computer Equipment BMF Loan Costs Amort-BMF Loan Costs Balance Forward 19, ,64287 Object Account Total 32, ,14295 Balance Forward 4, ,37425 Object Account Total 4, ,37425 Balance Forward 348, ,22884 Object Account Total 348, ,22884 Balance Forward 278, , /11 Monthly Recurring Entry JE /31/2011 2, AA P BOND COSTS Period Total 2, ,90100-

130 R /30/ :23:30 G/L by Object Account Page - 11 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Amort-BMF Loan Costs Account Total 281, , Object Account Total 281, , Interest Rate Cap Balance Forward 37, , /11 Interest Rate Cap Escrow JE /31/ , AA P Write-off Int Rate Cap 12/11 Interest Rate Cap Escrow JE /31/ ,00000 AA P New Int Rate Cap 12/15/11 Interest Rate Cap Amort-Interest Rate Cap Period Total 38, , Account Total 75, , ,00000 Object Account Total 75, , ,00000 Balance Forward 37, , /11 Monthly Recurring Entry JE /31/ AA P AMORT CAP RATE 12/11 Interest Rate Cap Escrow JE /31/ AA P /11 Amort Int Rate Cap 12/11 Interest Rate Cap Escrow JE /31/ ,84914 AA P Write-off Int Rate Cap Amort-Interest Rate Cap Bond Loan Costs Amort-Bond Loan Costs Period Total 37, ,21779 Account Total 37, , Object Account Total 37, , Balance Forward 523, ,37474 Object Account Total 523, ,37474 Balance Forward 139, , /11 Monthly Recurring Entry JE /31/2011 1, AA P BOND COSTS Period Total 1, , Amort-Bond Loan Costs Account Total 141, , Object Account Total 141, , Lease Commissions Balance Forward 14, , /11 Monthly Recurring Entry JE /31/ AA P SANTOYO TANNING 12/11 Monthly Recurring Entry JE /31/ AA P EPISCOPAL 12/11 Monthly Recurring Entry JE /31/ AA P

131 R /30/ :23:30 G/L by Object Account Page - 12 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch MIG Lease Commissions Prepaid Insurance Period Total Account Total 14, ,56012 Object Account Total 14, ,56012 Balance Forward 37, , /11 Monthly Recurring Entry JE /31/ , AA P INSURANCE Prepaid Insurance Prepaid Taxes Period Total 12, , Account Total 37, , ,17434 Object Account Total 37, , , /11 Reclass Prepaid Taxes JE /31/ AA P RC from Accrued Property Tax Prepaid Taxes Tax Impound Period Total Account Total Object Account Total Balance Forward 616, , Property Tax Impound JE /31/ , AA P DB Prop Tax Payment Deutsche Bank PM /31/ ,70859 AA P Taxes Tax Impound Hedge Reserve Fund Period Total 105, , , Account Total 722, , ,23133 Object Account Total 722, , ,23133 Balance Forward 355, , /11 Interest Rate Cap Escrow JE /31/ AA P /10-12/11 Interest Income 12/11 Interest Rate Cap Escrow JE /31/ , AA P New Int Rate Cap 12/15/11 12/11 Interest Rate Cap Escrow JE /31/2011 2, AA P Legal Assc Int Rate Cap 12/11 Interest Rate Cap Escrow JE /31/ , AA P Distrib from Int Cap Escrow Deutsche Bank PM /31/2011 1,05526 AA P INT rate Cap Escrow

132 R /30/ :23:30 G/L by Object Account Page - 13 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Period Total 1, , , Hedge Reserve Fund Bond Fee Impound Account Total 357, , ,05526 Object Account Total 357, , ,05526 Balance Forward 290, , /11 Bank Rec JE /31/2011 8, AA P /15/11-12/14/11 RMKT FEES Deutsche Bank PM /31/2011 2,78753 AA P REMRKETING FEE Deutsche Bank PM /31/2011 3,48442 AA P ISSUER FEE Deutsche Bank PM /31/ AA P TRUSTEE FEE Bond Fee Impound Other Deposits st TD Payable-Original Period Total 6, , , Account Total 296, , ,44452 Object Account Total 296, , ,44452 Balance Forward 2, ,00000 Object Account Total 2, ,00000 Balance Forward 33,915, ,915, Object Account Total 33,915, ,915, Second Trust Deed Payable Balance Forward 7,000, ,000, Object Account Total 7,000, ,000, CFD Bonds Payable Balance Forward 8,685, ,685, Object Account Total 8,685, ,685, Accounts Payable-General Balance Forward 55, , /11 Manager's Accruals JE /31/2011 1, AA P /11 Accruals 12/11 Utility Accruals JE /31/ , AA P Utility Accruals 12/11 Accruals Additional JE /31/ , AA P /11 Accruals Manager's Accruals JE /1/ ,68600 AA P Utility Accruals JE /1/ ,62000 AA P Utility Accruals

133 R /30/ :23:30 G/L by Object Account Page - 14 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Period Total 55, , , Accounts Payable-General Bond/Trustee Fees Payable Account Total 55, , , Object Account Total 55, , , Balance Forward 266, , /11 Bank Rec JE /31/2011 8,45552 AA P /15/11-12/14/11 RMKT FEES Deutsche Bank PM /31/2011 6, AA P ACCRUE TTE FEE Bond/Trustee Fees Payable Accrued Payroll Period Total 8, , ,97524 Account Total 8, , , Object Account Total 8, , , Balance Forward 20, , Object Account Total 20, , Accrued Interest Ser B Balance Forward 32, , Object Account Total 32, , Accrued Management Fees Balance Forward 1, , /11 MGMT FEE ACCRUAL JE /31/2011 1, AA P MGMT FEE ACCRUAL MGMT FEE ACCRUAL JE /1/2011 1,00162 AA P Accrued Management Fees Accrued Property Taxes Period Total 1, , Account Total 1, , , Object Account Total 1, , , Balance Forward 338, , /11 Prop Tx Accr True Up JE /31/2011 1,89564 AA P /11 Prop Tx Accr True Up 12/11 Monthly Recurring Entry JE /31/ , AA P PROPERTY TAX 12/11 Monthly Recurring Entry JE /31/ , AA P CFD AREA TAXES Property Tax Impound JE /31/ ,59252 AA P Tax pmt # Property Tax Impound JE /31/ ,96714 AA P Tax pmt # Property Tax Impound JE /31/2011 5,79771 AA P Tax pmt #

134 R /30/ :23:30 G/L by Object Account Page - 15 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Property Tax Impound JE /31/ ,57084 AA P Tax pmt # /11 Reclass Prepaid Taxes JE /31/ AA P RC to Prepaid Tax Accrued Property Taxes Security Deposits Period Total 451, , ,19375 Account Total 451, , Object Account Total 451, , Rental Activity Security Deposits Rental Activity Security Deposits Balance Forward 288, , JE /20/2011 9,20000 AA P JE /20/2011 8, AA P Security Deposits Security Deposit Clearing Period Total 9, , Account Total 9, , , Object Account Total 9, , , Stale Dated Check Jones Ck Jones, Roy Ref4-316 Lutz, Bonnie Ref1-208 Lee, Andrew REF Karimi, Roxana Ref1-113 Karimi, Koroush John REF1-116 Oakwood Corporate Housing, * REF7-209 Rental Activity Security Deposit Clearing Warnock, Janae Ref1-415 Talancon, Jose Luis Ref4-211 Lux, Anna Ref2-205 Franchi, Claudia Ref3-204 Balance Forward JE /31/ AA P PV /31/ AA P PV /31/ AA P PV /31/ AA P PV /31/ AA P PV /31/ AA P PV /31/ AA P JE /20/2011 3, AA P PV /12/ AA P PV /2/ AA P PV /1/ AA P PV /1/ AA P

135 R /30/ :23:30 G/L by Object Account Page - 16 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Iturbe, Nicole PV /1/ AA P Ref4-208 Security Deposit Clearing Contingent Liabilities Period Total 2, , , Account Total 2, , , Object Account Total 2, , , Stale Dated Check Jones Ck Balance Forward 12, , JE /31/ AA P Contingent Liabilities Capital-Portfolio Period Total Account Total , , Object Account Total , , Balance Forward 34,339, ,339, Object Account Total 34,339, ,339, Contributions-Portfolio Balance Forward 14,623, ,623, /11 Funding for Draw#25 JE /31/ , AA P Funding for Draw #25 Period Total 19, , Contributions-Portfolio Account Total 14,642, ,642, Object Account Total 14,642, ,642, Distribution-Portfolio Balance Forward 40,254, ,254,85235 DB Mortgage Services JE /31/2011 9,38470 AA P /11 Interest Refund ck /11 Cash Distribution JE /31/ ,00000 AA P /11 Distribution 12/11 Interest Rate Cap Escrow JE /31/ ,46456 AA P Distrib from Int Cap Escrow Distribution-Portfolio Retained Earnings Period Total 662, ,84926 Account Total 40,917, ,917,70161 Object Account Total 40,917, ,917,70161 Balance Forward 22,816, ,816, Object Account Total 22,816, ,816, Apartment Rent Balance Forward 7,050, ,050,96656-

136 R /30/ :23:30 G/L by Object Account Page - 17 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Rental Activity JE /20/2011 4, AA P Apartment Rent Rental Activity JE /20/ , AA P Apartment Rent Period Total 666, , Apartment Rent Account Total 7,717, ,717, Object Account Total 7,717, ,717, Upgrade Unit Rent Balance Forward 3, , Object Account Total 3, , Loss to Lease Rental Activity Gain/Loss to Lease Rental Activity Gain/Loss to Lease Balance Forward 15, ,49788 JE /20/ ,24088 AA P JE /20/2011 4,70660 AA P Loss to Lease Retail Rental Income Period Total 22, ,94748 Account Total 38, ,44536 Object Account Total 38, ,44536 Rental Activity Retail Rental Income Balance Forward 200, , JE /20/ , AA P Period Total 18, , Retail Rental Income Account Total 219, , Object Account Total 219, , Employee Allowances Rental Activity Employee Allowances Balance Forward 65, ,22239 JE /20/2011 6,27542 AA P Employee Allowances Model Allowances Period Total 6, ,27542 Account Total 71, ,49781 Object Account Total 71, ,49781 Rental Activity Model Allowances Balance Forward 40, ,97500 JE /20/2011 3,72500 AA P Period Total 3, ,72500

137 R /30/ :23:30 G/L by Object Account Page - 18 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Model Allowances Account Total 44, ,70000 Object Account Total 44, , Vacancies Rental Activity Vacancies Balance Forward 410, ,86287 JE /20/ ,19751 AA P Vacancies Vacancies - Retail Period Total 28, ,19751 Account Total 439, ,06038 Object Account Total 439, ,06038 Rental Activity Vacancies - Retail Balance Forward 48, ,31200 JE /20/2011 4,39200 AA P Vacancies - Retail Retained/Refunded Deposit Period Total 4, ,39200 Account Total 52, ,70400 Object Account Total 52, ,70400 Rental Activity Retained/Refunded Deposits Balance Forward 71, , JE /20/2011 9, AA P Period Total 9, , Retained/Refunded Deposit Account Total 81, , Object Account Total 81, , NSF-Late Charges Rental Activity NSF-Late Charges Rental Activity NSF-Late Charges Balance Forward 20, , JE /20/ AA P JE /20/2011 1, AA P NSF-Late Charges Ancillary Services Income Period Total , , Account Total , , Object Account Total , , Rental Activity Ancillary Service Balance Forward 11, , JE /20/2011 1, AA P Period Total 1, ,02800-

138 R /30/ :23:30 G/L by Object Account Page - 19 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Ancillary Services Income Account Total 12, , Object Account Total 12, , Vending Machines Balance Forward Object Account Total Garage Parking/ Storage Rental Activity Garage Parking/Storage Balance Forward 47, , JE /20/2011 6, AA P Period Total 6, , Garage Parking/ Storage Account Total 53, , Object Account Total 53, , Laundry Income Rental Activity Laundry Income Balance Forward JE /20/ AA P Period Total Laundry Income Account Total Object Account Total Retail Space-CAM Rental Activity Cleaning Fees-CA Balance Forward 44, , JE /20/2011 4, AA P Period Total 4, , Retail Space-CAM Account Total 48, , Object Account Total 48, , Miscellaneous Income Balance Forward 6, , Object Account Total 6, , Rental Fees Rental Activity Rental Fees Balance Forward 10, , JE /20/ AA P Rental Fees MTM/Short Term Rent Period Total Account Total 10, , Object Account Total 10, ,70500-

139 R /30/ :23:30 G/L by Object Account Page - 20 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Balance Forward 2, , Object Account Total 2, , Pet Fees Rental Activity Pet Fees Balance Forward 20, , JE /20/2011 2, AA P Period Total 2, , Pet Fees Account Total 22, , Object Account Total 22, , Interest Income Balance Forward 79, , Bank Rec JE /31/ AA P Interest Bank Rec JE /31/ AA P Interest 12/11 Interest Rate Cap Escrow JE /31/ AA P /10-12/11 Interest Income Period Total Interest Income Account Total 80, , Object Account Total 80, , Renter's Insurance Commission Balance Forward 2, , Object Account Total 2, , Resident Manager Payroll Labor Distribution Payroll Labor Distribution Balance Forward 48, ,01581 T /15/2011 2,18543 AA P T /1/2011 2,18543 AA P Resident Manager Assistant Manager Period Total 4, ,37086 Account Total 52, ,38667 Object Account Total 52, , Payroll Labor Distribution Payroll Labor Distribution Assistant Manager Balance Forward 11, ,94430 T /15/ AA P T /1/2011 2,06223 AA P Period Total 2, ,93557 Account Total 14, ,87987 Object Account Total 14, ,87987

140 R /30/ :23:30 G/L by Object Account Page - 21 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Bookkeeper Marketing Manager Leasing Consultant Maintenance Supervisor Balance Forward 28, ,95070 Object Account Total 28, ,95070 Balance Forward 20, ,39693 Object Account Total 20, ,39693 Balance Forward 36, ,57540 Object Account Total 36, ,57540 Payroll Labor Distribution Payroll Labor Distribution Balance Forward 45, ,56261 T /15/2011 1,91846 AA P T /1/2011 2,06911 AA P Maintenance Supervisor Maintenance Mechanic Period Total 3, ,98757 Account Total 49, ,55018 Object Account Total 49, ,55018 Payroll Labor Distribution Payroll Labor Distribution Balance Forward 39, ,56716 T /15/2011 2,53020 AA P T /1/2011 2,46455 AA P Maintenance Mechanic Custodian Bonus & Incentives Period Total 4, ,99475 Account Total 44, ,56191 Object Account Total 44, ,56191 Balance Forward 14, ,94025 Object Account Total 14, ,94025 Payroll Labor Distribution Payroll Labor Distribution Payroll Labor Distribution Payroll Labor Distribution Balance Forward 32, ,89116 T /15/ AA P T /15/ AA P T /1/ AA P T /1/ AA P Bonus & Incentives Temporary Help Period Total 1, ,00000 Account Total 33, ,89116 Object Account Total 33, ,89116

141 R /30/ :23:30 G/L by Object Account Page - 22 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Balance Forward 15, ,02919 Apt Personnel Staffing PV /13/ AA P Lucy Taylor-Ross Apt Personnel Staffing PV /13/ AA P Jeanna Brown Apt Personnel Staffing PV /13/2011 1,16670 AA P Lucy Taylor-Ross - Bonus Apt Personnel Staffing PV /13/ AA P Lucy Taylor-Ross WE 08/05/11 Apt Personnel Staffing PV /13/ AA P Nakia Watson WE 11/25/11 Apt Personnel Staffing PV /13/ AA P Wilmer Solorzano WE 11/25/11 Apt Personnel Staffing PV /13/ AA P Bobak Rezai WE 11/25/11 Apt Personnel Staffing PV /13/ AA P Sandra Lopez WE 11/25/11 OT Apt Personnel Staffing PV /13/ AA P Sandra Lopez WE 11/25/11 Apt Personnel Staffing PV /13/ AA P Tara Harris WE 11/25/ Manager's Accruals JE /1/2011 1, AA P Inv# APT Sta Apt Personnel Staffing PV /1/2011 1,55621 AA P w/e 10/28/11 Apt Personnel Staffing PV /1/ AA P Temp support Temporary Help Employee Relations Employee Education Emp Background Check Payroll Processing Period Total 6, , ,48759 Account Total 21, , ,51678 Object Account Total 21, , ,51678 Balance Forward 1, ,01171 Object Account Total 1, ,01171 Balance Forward 1, ,95976 Object Account Total 1, ,95976 Balance Forward Object Account Total Balance Forward

142 R /30/ :23:30 G/L by Object Account Page - 23 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Actual Burden Journal Entries T /15/ AA P Actual Burden Journal Entries T /15/ AA P Actual Burden Journal Entries T /15/ AA P Actual Burden Journal Entries T /15/ AA P Actual Burden Journal Entries T /1/ AA P Actual Burden Journal Entries T /1/ AA P Actual Burden Journal Entries T /1/ AA P Actual Burden Journal Entries T /1/ AA P Actual Burden Journal Entries T /1/ AA P Payroll Processing Help Wanted Advertising Period Total Account Total Object Account Total PMJobscom Leasing Consultant Balance Forward PV /31/ AA P Help Wanted Advertising Payroll Taxes Period Total Account Total Object Account Total Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Balance Forward 25, ,25376 T /15/ AA P T /15/ AA P T /15/ AA P T /15/ AA P T /1/ AA P T /1/ AA P

143 R /30/ :23:30 G/L by Object Account Page - 24 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Actual Burden Journal Entries T /1/ AA P Actual Burden Journal Entries T /1/ AA P Actual Burden Journal Entries T /1/ AA P Payroll Taxes Worker's Compensation Period Total 1, ,30501 Account Total 26, ,55877 Object Account Total 26, ,55877 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Balance Forward 11, ,13083 T /15/ AA P T /15/ AA P T /15/ AA P T /15/ AA P T /15/ AA P T /15/ AA P T /15/ AA P T /1/ AA P T /1/ AA P T /1/ AA P T /1/ AA P T /1/ AA P T /1/ AA P T /1/ AA P T /1/ AA P T /1/ AA P

144 R /30/ :23:30 G/L by Object Account Page - 25 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Period Total Worker's Compensation Insurance Benefits Account Total 12, ,10111 Object Account Total 12, ,10111 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Actual Burden Journal Entries 3 Balance Forward 27, ,90834 T /15/ AA P T /15/ AA P T /15/ AA P T /1/ AA P T /1/ AA P T /1/ AA P T /1/ AA P Insurance Benefits Electricity Period Total 1, ,94767 Account Total 29, ,85601 Object Account Total 29, ,85601 Balance Forward 122, , /11 Utility Accruals JE /31/ ,86000 AA P Electricity 12/11 Utility Accruals JE /31/ AA P Electricity 12/11 Utility Accruals JE /31/ AA P Electricity Utility Accruals JE /1/ , AA P Electricity American Utility Management, I PV /1/2011 8,03912 AA P _HSE_10/11/11-11/14/11 American Utility Management, I PV /1/ AA P _HSE_10/11/11-11/14/11 American Utility Management, I PV /1/ AA P _HSE_10/11/11-11/14/11 American Utility Management, I PV /1/ AA P _HSE_10/11/11-11/14/11 American Utility Management, I PV /1/ AA P _HSE_10/11/11-11/14/11 American Utility Management, I PV /1/ AA P

145 R /30/ :23:30 G/L by Object Account Page - 26 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark _HSE_10/11/11-11/14/11 Ty Document Date Co Debit Credit Balance LT C Batch American Utility Management, I PV /1/ AA P _HSE_10/11/11-11/14/11 American Utility Management, I PV /1/ AA P _HSE_10/11/11-11/14/11 American Utility Management, I PV /1/ AA P _HSE_10/11/11-11/14/11 American Utility Management, I PV /1/ AA P _HSE_10/12/11-11/14/11 Electricity Electricity-Vacant Units Period Total 28, , ,61453 Account Total 150, , ,25804 Object Account Total 150, , ,25804 American Utility Management, I _7-116_11/14/11-11/29/1 American Utility Management, I _1-409_11/14/11-11/30/1 American Utility Management, I _3-108_09/13/11-10/11/1 American Utility Management, I _6-201_11/10/11-11/22/1 American Utility Management, I _4-308_11/08/11-11/10/1 American Utility Management, I _8-409_10/11/11-11/10/1 American Utility Management, I _5-404_11/03/11-11/15/1 American Utility Management, I _4-402_10/11/11-11/08/1 American Utility Management, I _7-309_10/11/11-11/16/1 American Utility Management, I _7-113_10/11/11-11/14/11 American Utility Management, I _8-107_10/11/11-11/14/1 American Utility Management, I _1-409_11/03/11-11/14/1 American Utility Management, I _5-408_10/25/11-11/14/1 American Utility Management, I _7-318_10/11/11-11/14/1 American Utility Management, I _7-209_10/11/11-11/14/1 Balance Forward 20, ,38327 PV /15/ AA P PV /15/ AA P PV /8/ AA P PV /8/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P

146 R /30/ :23:30 G/L by Object Account Page - 27 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch American Utility Management, I PV /1/ AA P _1-311_10/25/11-11/14/1 American Utility Management, I PV /1/ AA P _6-106_10/11/11-11/14/1 American Utility Management, I PV /1/ AA P _7-208_10/11/11-11/14/1 American Utility Management, I PV /1/ AA P _7-314_10/11/11-11/14/1 American Utility Management, I PV /1/ AA P _5-205_10/13/11-11/14/1 American Utility Management, I PV /1/ AA P _7-207_10/11/11-11/14/1 American Utility Management, I PV /1/ AA P _9-204_10/11/11-11/14/1 American Utility Management, I PV /1/ AA P _7-202_10/11/11-11/14/1 American Utility Management, I PV /1/ AA P _6-105_10/11/11-11/14/1 American Utility Management, I PV /1/ AA P _6-108_10/11/11-11/14/1 American Utility Management, I PV /1/ AA P _8-101_10/11/11-11/14/1 American Utility Management, I PV /1/ AA P _8-307_10/11/11-11/14/1 American Utility Management, I PV /1/ AA P _4-214_10/11/11-11/14/1 American Utility Management, I PV /1/ AA P _5-203_10/11/11-11/14/1 American Utility Management, I PV /1/ AA P _5-303_10/11/11-11/14/1 American Utility Management, I PV /1/ AA P _7-116_10/26/11-11/14/1 American Utility Management, I PV /1/ AA P _1-301_10/11/11-11/14/1 American Utility Management, I PV /1/ AA P _8-303_10/11/11-11/14/1 American Utility Management, I PV /1/ AA P _5-405_10/11/11-11/14/1 American Utility Management, I PV /1/ AA P _6-206_10/11/11-11/14/1 Electricity-Vacant Units Gas Period Total 1, ,84706 Account Total 22, ,23033 Object Account Total 22, ,23033

147 R /30/ :23:30 G/L by Object Account Page - 28 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Balance Forward 56, , /11 Utility Accruals JE /31/2011 5,09000 AA P Gas 12/11 Utility Accruals JE /31/2011 2,31000 AA P Gas Utility Accruals JE /1/2011 5, AA P Gas American Utility Management, I PV /1/ AA P _HSE_10/20/11-11/17 American Utility Management, I PV /1/ AA P _HSE_10/20/11-11/17 American Utility Management, I PV /1/ AA P _HSE_10/19/11-11/17 American Utility Management, I PV /1/ AA P _HSE_10/19/11-11/17 American Utility Management, I PV /1/ AA P _HSE_10/20/11-11/17 American Utility Management, I PV /1/ AA P _HSE_10/20/11-11/17 American Utility Management, I PV /1/ AA P _HSE_10/19/11-11/17 American Utility Management, I PV /1/ AA P _HSE_10/20/11-11/17 American Utility Management, I PV /1/ AA P _HSE_10/20/11-11/17 American Utility Management, I PV /1/ AA P _HSE_10/20/11-11/17 Gas Water Period Total 12, , ,82646 Account Total 68, , ,10783 Object Account Total 68, , ,10783 Balance Forward 81, , /11 Utility Accruals JE /31/ AA P Water 12/11 Utility Accruals JE /31/2011 2,27000 AA P Water 12/11 Accruals Additional JE /31/2011 9,11057 AA P Water American Utility Management, I PV /8/2011 1,64264 AA P _HSE_10/25/11-11/22/ Utility Accruals JE /1/ , AA P Water American Utility Management, I PV /1/ AA P _HSE_10/11/11-11/14/11

148 R /30/ :23:30 G/L by Object Account Page - 29 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Period Total 13, , ,96891 Water Sewer Account Total 94, , ,13889 Object Account Total 94, , ,13889 Balance Forward 12, , /11 Utility Accruals JE /31/ AA P Sewer 12/11 Accruals Additional JE /31/2011 1,78161 AA P Sewer American Utility Management, I PV /8/ AA P _HSE_10/25/11-11/22/ Utility Accruals JE /1/2011 1, AA P Sewer Sewer Rubbish Removal Period Total 2, , Account Total 14, , ,32049 Object Account Total 14, , ,32049 Balance Forward 38, ,27030 American Utility Management, I PV /8/2011 3,42742 AA P _HSE_12/01/11-12/31/ Utility Accruals JE /1/2011 AA P Rubbish Removal Rubbish Removal Telephone Period Total 3, ,42742 Account Total 41, ,69772 Object Account Total 41, ,69772 Balance Forward 24, , Utility Accruals JE /1/2011 AA P Telephone Utility Accruals JE /1/2011 AA P Telephone entry gates Telephone Account Total 24, ,48905 Object Account Total 24, , Other American Utility Management, I November utility Other Balance Forward 18, ,41172 PV /1/2011 1,44950 AA P Period Total 1, ,44950 Account Total 19, ,86122

149 R /30/ :23:30 G/L by Object Account Page - 30 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Object Account Total 19, , Tenant Utility Reimbursement Rental Activity Tenant Utility Reimbursement Balance Forward 167, , JE /20/ , AA P Period Total 14, , Tenant Utility Reimbursement Account Total 181, , Object Account Total 181, , T/O-Cleaning Contract Executive Amenities, inc Suite Rental 2+2 loft cleaning extra charge for heavy cleanin 1+1 cleaning 1+1+L cleaning 1+1 cleaning 1+1 cleaning 2 bedroom cleaning 1+1+L cleaning Extra charge for heavy cleanin 1+1+L cleaning 1+1 cleaning 2 bedroom cleaning 2 bedroom cleaning 2 bedroom cleaning 1+1+L cleaning Balance Forward 23, ,56645 PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /12/ PV /12/ PV /12/ PV /12/ PV /12/ PV /12/ PV /12/ PV /12/ PV /12/ PV /1/ AA P PV /1/ AA P PV /1/ AA P

150 R /30/ :23:30 G/L by Object Account Page - 31 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch 2 bedroom cleaning T/O-Cleaning Contract T/O-Drapes & Blinds T/O-Painting & Wall Coverings Period Total 1, ,88000 Account Total 25, ,44645 Object Account Total 25, ,44645 Balance Forward 4, ,29765 Object Account Total 4, ,29765 Remove laminate, prime and pai paint patio Paint front of kitchen cabinet paint front door paint exterior frame 2+2 loft complete paint Remove laminate, prime and pai paint patio Paint front of kitchen cabinet paint front door paint exterior frame 1+1 complete paint 1+1+L ceilings paint patio paint ac registers paint front door paint exterior frame Balance Forward 91, ,97398 PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P

151 R /30/ :23:30 G/L by Object Account Page - 32 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch PV /13/ AA P paint accent wall back to swis PV /13/ AA P L complete paint already r Wilmar PV /12/ Kilz Primer Sealer - KILZ PRIM PV /12/ paint patio PV /12/ Paint front of kitchen cabinet PV /12/ paint ac registers PV /12/ paint front door PV /12/ paint exterior frame PV /12/ paint ceilings PV /12/ complete paint PV /12/ reseal granite counter top PV /12/ paint patio PV /12/ Paint front of kitchen cabinet PV /12/ paint ac registers PV /12/ paint front door PV /12/ paint exterior frame PV /12/ paint ceilings PV /12/ upgrade paint PV /12/ Remove laminate, prime and pai PV /12/ reseal granite counter top PV /12/ Remove laminate, prime and pai PV /12/ paint patio PV /12/ Paint fronts of lower kitchen

152 R /30/ :23:30 G/L by Object Account Page - 33 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch PV /12/ paint front door PV /12/ paint exterior frame PV /12/ complete paint upgrade PV /12/ paint patio PV /12/ Sand and texture patches made PV /12/ reseal granite counter top PV /12/ Paint fronts of lower kitchen PV /12/ paint ac registers PV /12/ l upgrade paint PV /12/ paint patio PV /12/ Paint front of kitchen cabinet PV /12/ paint ac registers PV /12/ remove laminate prime and pain PV /12/ paint front door PV /12/ paint exterior frame PV /12/ L complete paint already r PV /12/ L ceilings PV /12/ Remove laminate, prime and pai PV /12/ paint patio PV /12/ Paint front of kitchen cabinet PV /12/ paint exterior frame PV /12/ complete paint PV /12/ paint patio

153 R /30/ :23:30 G/L by Object Account Page - 34 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch PV /12/ Paint front of kitchen cabinet PV /12/ paint ac registers PV /12/ paint front door PV /12/ paint exterior frame PV /12/ complete paint PV /12/ paint patio PV /12/ Paint front of kitchen cabinet PV /12/ paint ac registers PV /12/ paint front door PV /12/ paint exterior frame PV /12/ complete paint HD Supply Facilities Maintenan PV /12/ " HEAVY DUTY PAINT ROLLER FRA PV /1/ AA P Remove laminate, prime and pai PV /1/ AA P paint patio PV /1/ AA P Paint front of kitchen cabinet PV /1/ AA P paint ac registers PV /1/ AA P paint front door PV /1/ AA P paint exterior frame PV /1/ AA P complete paint PV /1/ AA P L complete paint already r PV /1/ AA P paint exterior frame PV /1/ AA P paint front door PV /1/ AA P paint patio

154 R /30/ :23:30 G/L by Object Account Page - 35 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch PV /1/ AA P Complete paint PV /1/ AA P paint ceiling PV /1/ AA P paint exterior frame PV /1/ AA P paint front door PV /1/ AA P Paint front of kitchen cabinet PV /1/ AA P paint patio PV /1/ AA P Remove laminate, prime and pai Classic Tub Repair PV /1/ AA P Refinishing of Tub Classic Tub Repair PV /1/ AA P #3-201 Refinishing of Kitchen Classic Tub Repair PV /1/ AA P #5-408 Refinish kitchen sink T/O-Painting & Wall Coverings T/O-Recovery Period Total 9, ,31216 Account Total 101, ,28614 Object Account Total 101, ,28614 Rental Activity T/O-Recovery Balance Forward 56, , JE /20/2011 4, AA P Period Total 4, , T/O-Recovery Account Total 60, , Object Account Total 60, , T/O-Floor Covering CL & REP Rainbow Carpet Cleaners Steam Clean Rainbow Carpet Cleaners Steam Carpet Rainbow Carpet Cleaners Steam Clean Rainbow Carpet Cleaners #6-405 T/O Shampoo Rainbow Carpet Cleaners T/O Carpet Shampoo Balance Forward 14, ,21685 PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /1/ AA P PV /1/ AA P

155 R /30/ :23:30 G/L by Object Account Page - 36 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Rainbow Carpet Cleaners PV /1/ AA P #5-404 T/O Rainbow Carpet Cleaners PV /1/2011 8, AA P ADJUSTMENT Rainbow Carpet Cleaners PV /1/2011 8,20600 AA P #3-201 T/O T/O-Floor Covering CL & REP T/O Miscellaneous Apartment Renewal Period Total 8, , Account Total 22, , ,88685 Object Account Total 22, , ,88685 Balance Forward Object Account Total Balance Forward Object Account Total Appliances HD Supply Facilities Maintenan PLASTIC EXHAUST FAN GRILLE HD Supply Facilities Maintenan 30" Range Hood Non Vented Natu HD Supply Facilities Maintenan 30W x 24H Wall Cabinet Box Onl Coast Appliance Parts & PO# 8211 Coast Appliance Parts & Coast Appliance Parts & Coast Appliance Parts & PO# 8211 Balance Forward 4, ,00648 PV /12/ PV /12/ PV /2/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P Appliances Cabinets/ Closets Cleaning-Contract Period Total Account Total 4, ,65543 Object Account Total 4, ,65543 Balance Forward Object Account Total Balance Forward 46, , /11 Manager's Reclass JE /31/2011 5,28000 AA P Correct Code- PV# CAM 12/11 Accruals Additional JE /31/ ,12000 AA P

156 R /30/ :23:30 G/L by Object Account Page - 37 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark 6/11, 9/11, & 12/11 CAM SVC Ty Document Date Co Debit Credit Balance LT C Batch Manager's Accruals JE /1/2011 5, AA P CAM Services- Porter Contract Cam Services, Inc PV /1/2011 5,28000 AA P October Porter Service Cleaning-Contract Cleaning-Contract CAM Period Total 26, , ,40000 Account Total 72, , ,52850 Object Account Total 72, , , /11 Manager's Reclass JE /31/2011 5, AA P Wrong Code- PV# C AM S Cam Services, Inc PV /13/2011 5,28000 AA P Day Porter Services for Novemb Cleaning-Contract CAM Cleaning-Supplies Period Total 5, , Account Total 5, , Object Account Total 5, , Balance Forward 7, , /11 Manager's Reclass JE /31/2011 1, AA P Wrong Code- PV# HD Sup Wilmar PV /12/ Grout Brush - Plastic bristles Wilmar PV /12/ Grout Brush - Stainless steel Wilmar PV /12/ **SPRAY BOTTLE PRO SAFE HD Supply Facilities Maintenan PV /12/ GALLON SIMPLE GREEN HD Supply Facilities Maintenan PV /2/2011 1,35123 AA P GAL HEX CONTAINER BLACK FO Wilmar PV /1/ AA P Roll Towels - Individually wra Wilmar PV /1/ AA P COTTONELLE 2PLY TOILET TISSUE HD Supply Facilities Maintenan PV /1/ AA P GALLON HVY DTY TRASH BAG "P Cleaning-Supplies Clubhouse and Rec Room Period Total 1, , Account Total 8, , ,60411 Object Account Total 8, , ,60411 Balance Forward

157 R /30/ :23:30 G/L by Object Account Page - 38 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Great American Business Prod PV /1/ AA P Fitness Center Sign Clubhouse and Rec Room Common Area Expense Period Total Account Total Object Account Total Balance Forward /11 Manager's Reclass JE /31/2011 1,35123 AA P Correct Code- PV# HD S Common Area Expense Countertops Period Total 1, ,35123 Account Total 2, ,12863 Object Account Total 2, ,12863 reseal granite kit counter top PV /1/ AA P Countertops Electrical Services Period Total Account Total Object Account Total Regency Lighting Tech - Troublshoot Signs Balance Forward 1, ,05500 PV /13/ AA P Electrical Services Electrical Supplies Regency Lighting 18w ballast Regency Lighting ballast for holly street sign HD Supply Facilities Maintenan WHITE TV CABLE WALL PLATE "PKG HD Supply Facilities Maintenan WHT SURFACE PHONE JACK PLATE"P HD Supply Facilities Maintenan WIREGARD BLUE WIRE CONNECTR "P HD Supply Facilities Maintenan 15 AMP DECORATOR RCPTCLE WHT " Period Total Account Total 1, ,23000 Object Account Total 1, ,23000 Balance Forward 2, ,90972 PV /13/ AA P PV /13/ AA P PV /12/ PV /12/ PV /12/ PV /12/

158 R /30/ :23:30 G/L by Object Account Page - 39 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch HD Supply Facilities Maintenan PV /12/ HUBL WHT SGL DECO WALL PLTE "P HD Supply Facilities Maintenan PV /12/ SGL DUPLEX RECEPT PLATE WH "PK Electrical Supplies Elevators & Escalators Period Total Account Total 3, ,51201 Object Account Total 3, ,51201 Balance Forward 18, , /11 Manager's Accruals JE /31/2011 1,20000 AA P Total Access- Dec Pre-Maint Total Access Elevator PV /1/ AA P Elev #2 trouble call Elevators & Escalators Exterior Building Structure Exterior Lighting Exterminators Dewey Pest & Termite Control December Pest Control Service Dewey Pest & Termite Control # Termite Treatment Dewey Pest & Termite Control Termite Treatment Dewey Pest & Termite Control # Termite Treatment Dewey Pest & Termite Control # Termite Treatment Dewey Pest & Termite Control Termite Treatment HD Supply Facilities Maintenan PROFESSIONAL RAT TRAP "PKG OF HD Supply Facilities Maintenan PROFESSIONAL MOUSE TRAP "PKG O Period Total 1, ,40000 Account Total 20, ,03511 Object Account Total 20, ,03511 Balance Forward Object Account Total Balance Forward Object Account Total Balance Forward 6, ,10082 PV /13/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P

159 R /30/ :23:30 G/L by Object Account Page - 40 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Period Total 2, ,11106 Exterminators Fire Protection Supplies Account Total 8, ,21188 Object Account Total 8, ,21188 HD Supply Facilities Maintenan SMOKE TEST SMOKE ALARM TESTER Balance Forward 2, ,02160 PV /12/ Fire Protection Supplies General Maintenance Supplies Period Total Account Total 2, ,04483 Object Account Total 2, ,04483 HD Supply Facilities Maintenan 34X80 6-PANEL PH INT RGHT HND HD Supply Facilities Maintenan 34X80 6-PANEL PH INT RGHT HND HD Supply Facilities Maintenan LARGE GRAIN LEATHER GLOVE "PK HD Supply Facilities Maintenan N95 PARTICULATE RESPIRATOR "PK HD Supply Facilities Maintenan DISPOSABLE SHOE COVERS "BOX OF HD Supply Facilities Maintenan LARGE LEATHER PALM GLOVE "PKG Wilmar Wilmar **SML PRJCT CLEAR SILICONE LIQ HD Supply Facilities Maintenan 34X80 6-PANEL PH INT RGHT HND HD Supply Facilities Maintenan 2-1/4" X 7' PRIMED MDF RANCH C HD Supply Facilities Maintenan 30 x 24" Appl Wall Wht (2 Door HD Supply Facilities Maintenan 30W x 24H" Wall Cabinet (Box O Balance Forward 7, ,47432 PD /12/ PV /12/ PV /12/ PV /12/ PV /12/ PV /12/ PV /1/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P General Maintenance Supplies HVAC-Contract Period Total Account Total 7, ,88467 Object Account Total 7, ,88467 Fire-N-Ice Heating & A/C Balance Forward 12, ,25334 PV /13/ AA P

160 R /30/ :23:30 G/L by Object Account Page - 41 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark replacement of thermostat, bel Ty Document Date Co Debit Credit Balance LT C Batch Summit Air Conditioning PV /1/ AA P Service Call # Labor HVAC-Contract HVAC-Supplies Period Total Account Total 12, ,61366 Object Account Total 12, ,61366 HD Supply Facilities Maintenan R-22 REFRIGERANT - 30 LB Wilmar **R-22 FREON 30 LB CYL Wilmar NEW GALLO GUN CO2 CARTRIDGES 1 HD Supply Facilities Maintenan 16 X 20 X1" HD PLEATED FILTR " HD Supply Facilities Maintenan 12 X 20 X 1" PLEATED FILTER "B Summit Air Conditioning " "Parts/Shipping HD Supply Facilities Maintenan 16 X 20 X1" HD PLEATED FILTR " HD Supply Facilities Maintenan 20 X 20 X 1" PLEATED FILTER "B HD Supply Facilities Maintenan 10 X 20 X1" HD PLEATED FILTR " Balance Forward 11, ,25849 PV /13/ AA P PV /12/ PV /12/ PV /12/ PV /12/ PV /1/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P HVAC-Supplies Interior Building Period Total Account Total 11, ,97298 Object Account Total 11, ,97298 Balance Forward 39, , /11 Manager's Reclass JE /31/ AA P Wrong Code- PV# HD Sup Whisk Cleaning Services, Inc PV /31/ AA P Trauma Clean up Classic Tub Repair PV /13/ AA P Past due Fee Classic Tub Repair PV /13/ AA P Extra Prep Work due to Wear in Classic Tub Repair PV /13/ AA P Refinish Tub Classic Tub Repair PV /13/ AA P

161 R /30/ :23:30 G/L by Object Account Page - 42 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Refinish Kitch Sink Ty Document Date Co Debit Credit Balance LT C Batch Classic Tub Repair PV /13/ AA P Past Due Fee Classic Tub Repair PV /13/ AA P Refinish Kitch Sink Classic Tub Repair PV /13/ AA P Refinish Tile Bar Top Classic Tub Repair PV /13/ AA P Refinish Tile Kitch CT Classic Tub Repair PV /13/ AA P Past Due Fee Classic Tub Repair PV /13/ AA P Refinish Kitch Sink Classic Tub Repair PV /13/ AA P Refinish Tile Bar Top Classic Tub Repair PV /13/ AA P Refinish Tile CT Classic Tub Repair PV /13/ AA P Extra Prep Work due to E Classic Tub Repair PV /13/ AA P Refinish Tub Classic Tub Repair PV /13/ AA P Refinish Tub Classic Tub Repair PV /13/ AA P Refinish Kitchen Sink Regency Lighting PV /13/ AA P custom mal 42 PV /13/ AA P removal of shower doors PV /13/ AA P removal of shower doors PV /13/ AA P relocate switch PV /13/ AA P repair drywall and texture aro PV /13/ AA P remove pocket door in bathroom PV /13/ AA P removal of shower doors National Glass PV /13/ AA P east holly 4th floor windo PV /12/ drywall repair hvac closet PV /12/ removal of shower doors

162 R /30/ :23:30 G/L by Object Account Page - 43 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch PV /12/ removal of shower doors PV /12/ drywall repair on bathroom cei PV /12/ removal of shower doors PV /12/ remove peeling paint on walls PV /12/ removal of shower doors PV /12/ drywall repair PV /12/ removal of shower doors PV /12/ removal of shower doors PV /12/ removal of shower doors PV /12/ replace broken tiles on kit co PV /12/ Replace drywall on bathroom wa PV /12/ replace wood under kit sink fr PV /1/ AA P removal of shower doors PV /1/ AA P drywall repair hvac closet PV /1/ AA P removal of shower doors PV /1/ AA P drywall repairs and paint stai HD Supply Facilities Maintenan PV /1/ AA P STOPPER II WITH HORN FLUSH MOU HD Supply Facilities Maintenan PV /1/ AA P VANITY MIRROR HD Supply Facilities Maintenan PV /1/ AA P VANITY MIRROR Rainbow Carpet Cleaners PV /1/ AA P #6-102 T/O Shampoo Rainbow Carpet Cleaners PV /1/ AA P Bldg #1 3rd Floor Hallway Interior Building Period Total 7, ,45433 Account Total 46, ,58222 Object Account Total 46, ,58222

163 R /30/ :23:30 G/L by Object Account Page - 44 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Keys & Locks Rental Activity Keys Locks Balance Forward 8, ,24257 JE /20/ AA P Keys & Locks General Maintenance Landscaping Contract Period Total Account Total 8, ,06756 Object Account Total 8, ,06756 Balance Forward 3, ,39747 Object Account Total 3, ,39747 Balance Forward 39, , /11 Accruals Additional JE /31/ ,80000 AA P /11-12/11 Landscape Maintena 12/11 Accruals Additional JE /31/2011 5,62200 AA P /11 Palm tree trimming Manager's Accruals JE /1/2011 3, AA P Valley Crest Landscaping Contract Landscaping Supplies Light Bulbs Period Total 16, , ,82200 Account Total 56, , ,42200 Object Account Total 56, , ,42200 Balance Forward Object Account Total Regency Lighting Regency Lighting Regency Lighting Regency Lighting Regency Lighting Regency Lighting 1R2009TCP Regency Lighting globe bulb vanity light Balance Forward 4, ,41901 PV /31/ AA P PV /31/ AA P PV /31/ AA P PV /31/ AA P PV /31/ AA P PV /13/ AA P PV /13/ AA P

164 R /30/ :23:30 G/L by Object Account Page - 45 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Regency Lighting PV /13/ AA P ft recycle pak Regency Lighting PV /13/ AA P ft recycle pak Regency Lighting PV /13/ AA P t-8 4ft 4100k Regency Lighting PV /13/ AA P ft recycle pak Regency Lighting PV /13/ AA P ADJUSTMENT Regency Lighting PV /13/ AA P Custom 62 MAL Regency Lighting PV /13/ AA P f42t-12 flourescent bulbs for Regency Lighting PV /13/ AA P fr42t12 flourescent bulbs for Regency Lighting PV /1/ AA P Light bulbsd for property Regency Lighting PV /1/ AA P Light bulbsd for property Regency Lighting PV /1/ AA P Light Bulbs for property Regency Lighting PV /1/ AA P Light Bulbs for property Regency Lighting PV /1/ AA P Light Bulbs Regency Lighting PV /1/ AA P Light Bulbs Regency Lighting PV /1/ AA P Light Bulbs Regency Lighting PV /1/ AA P Light Bulbs Regency Lighting PV /1/ AA P Light Bulbs Regency Lighting PV /1/ AA P Light Bulbs Light Bulbs Painting & Wall Covering Period Total 2, ,67971 Account Total 6, ,09872 Object Account Total 6, ,09872 Frazee Paint ADJUSTMENT Frazee Paint Balance Forward 6, ,15017 PV /13/ AA P PV /13/ AA P

165 R /30/ :23:30 G/L by Object Account Page - 46 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Acri-Tec Medium Ty Document Date Co Debit Credit Balance LT C Batch Frazee Paint PV /13/ AA P Mirror Glide S/G Deep GA Painting & Wall Covering Painting-Exterior Period Total Account Total 6, ,20245 Object Account Total 6, ,20245 Paint Holly Street Gate Balance Forward PV /12/ Painting-Exterior Plumbing Services Period Total Account Total Object Account Total Balance Forward 9, ,76580 Benrich Service Company, Inc PV /13/ AA P Water Treatment Contract Benrich Service Company, Inc PV /13/ AA P water treatment contract Sinacori Plumbing PV /12/ camera and map planter by buil Manager's Accruals JE /1/ AA P Summit Air- Boiler Service Summit Air Conditioning PV /1/ AA P Repaired hot water pipe in gar Summit Air Conditioning PV /1/ AA P labor Plumbing Services Plumbing Supplies Period Total 1, Account Total 11, ,58120 Object Account Total 11, ,58120 Balance Forward 15, , /11 Manager's Reclass JE /31/ AA P Correct Code- PV# HD S Wilmar PV /12/ **BAYVIEW KTCHN FCT LOOP HNDL HD Supply Facilities Maintenan PV /12/ UNIVERSAL POP-UP BALL JOINT RO HD Supply Facilities Maintenan PV /12/ /8" QUICK SEAL TUB DRAIN STOP

166 R /30/ :23:30 G/L by Object Account Page - 47 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch HD Supply Facilities Maintenan PV /12/ GAUGE SATIN CHROME BRASS TR HD Supply Facilities Maintenan PV /12/ GAUGE CHROME PLATED BRASS J HD Supply Facilities Maintenan PV /12/ /8" TAPPED COARSE THREAD DRAI HD Supply Facilities Maintenan PV /12/ KOHLER PLASTIC POP-UP PLUG HD Supply Facilities Maintenan PV /12/ BLANK TWO-HOLE OVERFLOW PLATE HD Supply Facilities Maintenan PV /12/ /2 TO 2" WHITE TUB STOPPER HD Supply Facilities Maintenan PV /12/ SYMMONS TEMPTROL II TRIM KIT HD Supply Facilities Maintenan PV /12/ STANDARD FLOW SHOWERHEAD - CHR HD Supply Facilities Maintenan PV /12/ ISE DISPOSER SPLASHGUARD HD Supply Facilities Maintenan PV /12/ WHITE TUB&TILE CAULK "CASE HD Supply Facilities Maintenan PV /12/ STAINLESS STEEL SINK BASKET "P HD Supply Facilities Maintenan PV /12/ RPLCMNT ISE DISPOSER STOPPER " HD Supply Facilities Maintenan PV /12/ X11" FINE SAND PAPER "PKG OF Summit Air Conditioning PV /1/ AA P Parts Summit Air Conditioning PV /1/ AA P tax Summit Air Conditioning PV /1/ AA P ball valve and materials HD Supply Facilities Maintenan PV /1/ AA P /8" QUICK SEAL TUB DRAIN STOP HD Supply Facilities Maintenan PV /1/ AA P GAUGE SATIN CHROME BRASS TR HD Supply Facilities Maintenan PV /1/ AA P GAUGE CHROME PLATED BRASS J HD Supply Facilities Maintenan PV /1/ AA P /8" TAPPED COARSE THREAD DRAI HD Supply Facilities Maintenan PV /1/ AA P BLANK TWO-HOLE OVERFLOW PLATE HD Supply Facilities Maintenan PV /1/ AA P SHOWER ARM FLANGE "PKG OF 10" HD Supply Facilities Maintenan PV /1/ AA P REPLACE-KOHLER PLASTIC TOILET

167 R /30/ :23:30 G/L by Object Account Page - 48 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch HD Supply Facilities Maintenan PV /1/ AA P STANDARD FLOW SHOWERHEAD - CHR HD Supply Facilities Maintenan PV /1/ AA P /2 X 6" CHROME PLATED BRASS S HD Supply Facilities Maintenan PV /1/ AA P CHROME DIE CAST ZINC DIVERTER HD Supply Facilities Maintenan PV /1/ AA P CHROME DIE CAST ZINC DIVERTER Plumbing Supplies Pools & Fountains Period Total 1, ,94583 Account Total 17, ,65534 Object Account Total 17, ,65534 Summit Air Conditioning Replaced valve on fountain Balance Forward 5, ,91839 PV /1/ AA P Pools & Fountains Privacy Gates Period Total Account Total 6, ,28129 Object Account Total 6, ,28129 ASCI Security Service call- Main Call Box Balance Forward 2, ,75767 PV /1/ AA P Privacy Gates Roof Security Contract Period Total Account Total 3, ,00767 Object Account Total 3, ,00767 Balance Forward Object Account Total Balance Forward 55, , /11 Accruals Additional JE /31/ ,85000 AA P /11-12/11 Level Manager's Accruals JE /1/2011 3, AA P /11-10/31 Level Manager's Accruals JE /1/2011 5, AA P /2011 Level Security Contract Period Total 12, , ,30000 Account Total 68, , ,61600 Object Account Total 68, , ,61600

168 R /30/ :23:30 G/L by Object Account Page - 49 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Signs & Flagpoles Small Tools Uniforms Window Cleaning-Contract Balance Forward Object Account Total Balance Forward Object Account Total Balance Forward Object Account Total Grinnell Window Cleaning, Inc October Service Balance Forward 1, ,90100 PV /1/ AA P Window Cleaning-Contract Window Cleaning-Supplies Real Property Taxes Period Total Account Total 2, ,11400 Object Account Total 2, ,11400 Balance Forward Object Account Total Balance Forward 818, , /11 Prop Tx Accr True Up JE /31/2011 1, AA P /11 Prop Tx Accr True Up 12/11 Monthly Recurring Entry JE /31/ ,85900 AA P PROPERTY TAX Real Property Taxes Personal Property Taxes CFD Area Taxes-A Period Total 74, , ,96336 Account Total 893, , ,73145 Object Account Total 893, , ,73145 Balance Forward Object Account Total Balance Forward 417, , /11 Monthly Recurring Entry JE /31/ ,99688 AA P CFD AREA TAXES CFD Area Taxes-A Period Total 37, ,99688 Account Total 455, ,96316

169 R /30/ :23:30 G/L by Object Account Page - 50 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Object Account Total 455, , CFD Area Admin Fees Insurance Balance Forward 12, ,76000 Object Account Total 12, ,76000 Balance Forward 139, , /11 Monthly Recurring Entry JE /31/ ,58723 AA P INSURANCE Insurance Property Management Fees Period Total 12, ,58723 Account Total 151, ,85973 Object Account Total 151, ,85973 Balance Forward 276, , /11 MGMT FEE ACCRUAL JE /31/2011 1,09160 AA P MGMT FEE ACCRUAL Sares Regis Management Company PV /31/2011 1,00162 AA P MGMT FEE TU Sares Regis Management Company PV /31/ ,19641 AA P MGMT FEE MGMT FEE ACCRUAL JE /1/2011 1, AA P MGMT FEE ACCRUAL Property Management Fees Legal Fees Period Total 27, , ,28801 Account Total 304, , ,25565 Object Account Total 304, , ,25565 Balance Forward 8, , /11 Interest Rate Cap Escrow JE /31/2011 2,50000 AA P Legal Assc Int Rate Cap Rental Activity JE /20/ AA P Legal Fees Wells Law Group, APC PV /13/ AA P Correspondance Wells Law Group, APC PV /13/ AA P Prepare Dec Wells Law Group, APC PV /13/ AA P Prepare Conmplaint Wells Law Group, APC PV /13/ AA P UD Package Wells Law Group, APC PV /1/ AA P #6-103b Masjedi Complaint Wells Law Group, APC PV /1/ AA P

170 R /30/ :23:30 G/L by Object Account Page - 51 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark ADJUSTMENT Ty Document Date Co Debit Credit Balance LT C Batch Wells Law Group, APC PV /1/ AA P Flowers- Declaration pre Legal Fees Maid Services Mailers & Postage Model Accessories Office Hospitality Period Total 3, ,91420 Account Total 12, ,79545 Object Account Total 12, ,79545 Balance Forward Object Account Total Balance Forward Object Account Total Balance Forward Object Account Total ArrowheadDrinkingWater BOTTLED WATER Balance Forward 1, ,25693 PV /31/ AA P Office Hospitality Outside Leasing Commissions Period Total Account Total 1, ,44989 Object Account Total 1, ,44989 Balance Forward 10, , /11 Monthly Recurring Entry JE /31/ AA P SANTOYO TANNING 12/11 Monthly Recurring Entry JE /31/ AA P EPISCOPAL 12/11 Monthly Recurring Entry JE /31/ AA P MIG RentCom PV /13/ AA P Farkas Referral RentCom PV /13/ AA P Brunsvold/Ziegler/Johnso RentCom PV /13/ AA P Paulino Referral RentCom PV /1/ AA P Ling Ge RentCom PV /1/ AA P Parag Phadtare

171 R /30/ :23:30 G/L by Object Account Page - 52 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch RentCom PV /1/ AA P Referral Fee for #2-204 Crooks Outside Leasing Commissions Resident Referral Printed Materials-Newsletters Period Total 2, ,49328 Account Total 13, ,13058 Object Account Total 13, ,13058 Balance Forward 1, ,80000 Object Account Total 1, ,80000 Apartment Newsletterscom December 2011 Newsletters Balance Forward PV /13/ AA P Printed Materials-Newsletters Printed Media-Ads Period Total Account Total Object Account Total Leaselabs For Rent Magazine 1 internet ad - November RentCom Property Ugrade on Site Move Sales, Inc Number of clicks on Listing No Move Sales, Inc 1 Showcase Listing Online for For Rent Magazine 11/1/11 issue date Move Sales, Inc October 2011 MyNewPlace October 2011 Lead Tracking Solutions 11/7 thru 12/4/2011 Balance Forward 24, ,21805 PV /31/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P PV /1/ AA P Printed Media-Ads Promotional Materials Period Total 2, ,58489 Account Total 26, ,80294 Object Account Total 26, ,80294 Balance Forward Object Account Total

172 R /30/ :23:30 G/L by Object Account Page - 53 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Resident Functions Resident Relations Balance Forward Object Account Total Rental Activity Resident Relations Balance Forward 7, ,15572 JE /20/2011 1,78500 AA P Resident Relations Shopping Reports Stationery & Brochures Period Total 1, ,78500 Account Total 8, ,94072 Object Account Total 8, ,94072 Balance Forward Object Account Total Balance Forward PV /1/ AA P Business Cards for Melody Salv 9155 PV /1/ AA P Business cards for Greg, Nicol Stationery & Brochures Write-Off Turn Over Costs Period Total Account Total Object Account Total Rental Activity Write-Turn Over Cost Balance Forward 2, ,79850 JE /20/ AA P Write-Off Turn Over Costs Write-Off Legal Fees Write-Off Utilities Period Total Account Total 2, ,76717 Object Account Total 2, ,76717 Balance Forward 2, ,65870 Object Account Total 2, ,65870 Rental Activity Write-Off Utilities Balance Forward JE /20/ AA P Period Total

173 R /30/ :23:30 G/L by Object Account Page - 54 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Write-Off Utilities Account Total Object Account Total Bad Debt Write Off - Rent Rental Activity Bad Debt Write Off - Rent Balance Forward 20, ,39685 JE /20/2011 1, AA P Bad Debt Write Off - Rent Write Off-Term/Insur Notice Period Total 1, , Account Total 20, , ,64540 Object Account Total 20, , ,64540 Rental Activity Bad Debt Write Off - Term/Noti Balance Forward 24, ,18882 JE /20/2011 3, AA P Write Off-Term/Insur Notice Write Off-Other Bank Charges Period Total 3, , Account Total 24, , ,32625 Object Account Total 24, , ,32625 Balance Forward 2, ,83358 Object Account Total 2, ,83358 Balance Forward 7, , Bank Rec JE /31/ AA P Merchant Bankcard Fee Bank Rec JE /31/ AA P Billing Fee Bank Charges Cable Television Collection Agency Fee Period Total Account Total 7, ,33685 Object Account Total 7, ,33685 Balance Forward 2, ,77560 Object Account Total 2, , Rental Activity Collection Agency Fee Collection Agency Fee Balance Forward 2, ,47809 JE /20/2011 2,58248 AA P Period Total 2, ,58248 Account Total 5, ,06057

174 R /30/ :23:30 G/L by Object Account Page - 55 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Object Account Total 5, , Bad Debt-Recovery Balance Forward 2, , Object Account Total 2, , Computer Service Fees Ops Technology, Inc OPSTECH 11/1/11-11/30/11 Ops Technology, Inc OPS INV PROC FEES 10/2011 Balance Forward 8, ,10634 PV /7/ AA P PV /7/ AA P Computer Service Fees Courier & Postage Period Total Account Total 8, ,78271 Object Account Total 8, ,78271 SARES-REGIS Group FEDEX 543 OCT 2011 Federal Express 1 Box to Wells Law Group Federal Express 1 Box to Joanie at Bardeen Federal Express 1 /box to Capri Capital Federal Express 1 Box to Marriott Execustay Federal Express 1 Box to Mike Heiken at Bardee Federal Express 1 Box to Westage Apartments Purchase Power Postage Balance Forward 2, ,25136 PV /31/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /12/ Courier & Postage Credit Checks Dues & Subscriptions Period Total Account Total 2, ,76446 Object Account Total 2, ,76446 Balance Forward 3, ,52960 Object Account Total 3, ,52960 Pasadena Chamber of Commerce Balance Forward 5, ,35628 PV /1/ AA P

175 R /30/ :23:30 G/L by Object Account Page - 56 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch 2012 Membership fees Dues & Subscriptions Licenses & Permits Period Total Account Total 5, ,82628 Object Account Total 5, ,82628 Balance Forward 31, ,92827 Great American Business Prod PV /13/ AA P Handcuff Tags Manager's Accruals JE /1/ AA P Modern Parkng - 13 Parkers Pasadena, City of PV /1/ AA P Part #2 of Business License Re Licenses & Permits Mileage Reimbursement Period Total Account Total 32, ,48987 Object Account Total 32, ,48987 Diaz, Tomi MILEAGE Balance Forward PV /31/ AA P Mileage Reimbursement Office Equipment Rental Office Supplies Period Total Account Total Object Account Total Balance Forward 1, ,10819 Object Account Total 1, ,10819 Staples Advantage ADJUSTMENT Staples Advantage Printing Calculator Staples Advantage Legal Size Folders - Red Staples Advantage HP 74/75 Combo Pack Staples Advantage Legal Size Folders Staples Advantage Copy Paper Staples Advantage Balance Forward 4, ,84659 PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P PV /13/ AA P

176 R /30/ :23:30 G/L by Object Account Page - 57 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark High Lighters Ty Document Date Co Debit Credit Balance LT C Batch Staples Advantage PV /13/ AA P Legal Size Folders - Green Great American Business Prod PV /1/ AA P Office Supplies Staples Advantage PV /1/ AA P Leasing Office Supplies Office Supplies Other Interest First Trust Deed Period Total Account Total 5, ,72733 Object Account Total 5, ,72733 Balance Forward 2, ,46589 Object Account Total 2, ,46589 DB Mortgage Services 12/11 Interest Refund ck28704 Deutsche Bank Interest 11/15/11-12/14/11 Balance Forward 72, ,35511 JE /31/2011 9, AA P PM /31/2011 3,55875 AA P Interest First Trust Deed Interest Second Trust Deed Period Total 3, , , Account Total 75, , ,52916 Object Account Total 75, , ,52916 Deutsche Bank LOAN # Balance Forward 353, ,55837 PM /31/ ,14167 AA P Interest Second Trust Deed Letter of Credit Fees Period Total 32, ,14167 Account Total 385, ,70004 Object Account Total 385, , Deutsche Bank Credit Enhancement FEE Deutsche Bank LIQUIDITY FEE Deutsche Bank SERVICE FEE Letter of Credit Fees Balance Forward 221, ,00511 PM /31/2011 7,80510 AA P PM /31/2011 4,18130 AA P PM /31/2011 7,80510 AA P Period Total 19, ,79150 Account Total 240, ,79661

177 R /30/ :23:30 G/L by Object Account Page - 58 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Object Account Total 240, , Bond Administration Fees Deutsche Bank REMARKETING FEE Deutsche Bank ISSUER FEE Deutsche Bank TRUSTEE FEE Balance Forward 72, ,32844 PM /31/2011 2,78753 AA P PM /31/2011 3,48442 AA P PM /31/ AA P Bond Administration Fees Legal Appliances Period Total 6, ,48028 Account Total 78, ,80872 Object Account Total 78, ,80872 Balance Forward 55, ,38427 Object Account Total 55, ,38427 HD Supply Facilities Maintenan GE 27" STACKABLE WASHER/ELEC D General Electric Co 2 laundry units Balance Forward 47, ,65185 PV /12/2011 1,95533 PV /1/2011 1,73783 AA P Appliances Balconies Building Lighting Cabinets/Closets Countertops Doors Period Total 3, ,69316 Account Total 51, ,34501 Object Account Total 51, ,34501 Balance Forward 3, ,20000 Object Account Total 3, ,20000 Balance Forward 3, ,07534 Object Account Total 3, ,07534 Balance Forward 1, ,00448 Object Account Total 1, ,00448 Balance Forward 1, ,22500 Object Account Total 1, ,22500 Balance Forward 5, ,76349

178 R /30/ :23:30 G/L by Object Account Page - 59 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Object Account Total 5, , Drapery & Blinds Electrical Elevators & Escalators Fire Protection Balance Forward Object Account Total Balance Forward 1, ,63500 Object Account Total 1, ,63500 Balance Forward 10, ,92000 Object Account Total 10, ,92000 Balance Forward 3, ,33635 Golden State Fire Extinguisher PV /13/ AA P annual fire extinguisher servi HD Supply Facilities Maintenan PV /13/2011 1,16409 AA P GENTEX 24V SMOKE ALARM W/RELAY HD Supply Facilities Maintenan PV /12/ GENTEX 24V SMOKE ALARM W/RELAY HD Supply Facilities Maintenan PV /12/ GENTEX 24V SMOKE ALARM W/RELAY Fire Safety First PV /1/ AA P Replacement of pull station Fire Protection Floor Coverings HVAC Period Total 3, ,89965 Account Total 7, ,23600 Object Account Total 7, ,23600 Balance Forward 88, ,38979 Object Account Total 88, ,38979 Balance Forward 64, , /11 HVAC Reclass JE /31/2011 2, AA P R410A Hvac Conversion 12/11 HVAC Reclass JE /31/2011 1, AA P R410A HVAC Conversion 12/11 HVAC Reclass JE /31/2011 1, AA P Installed new 3 ton heat 12/11 HVAC Reclass JE /31/2011 2, AA P PV Summit Air Cond 12/11 HVAC Reclass JE /31/2011 2, AA P installed new air handle

179 R /30/ :23:30 G/L by Object Account Page - 60 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch 12/11 HVAC Reclass JE /31/2011 2, AA P replace 2 ton condensor 12/11 HVAC Reclass JE /31/2011 1, AA P replace 1 1/2 ton fan co 12/11 HVAC Reclass JE /31/2011 2, AA P replace 2 ton condensor 12/11 HVAC Reclass JE /31/2011 2, AA P replace heat pump conden 12/11 HVAC Reclass JE /31/2011 2, AA P replace 3 ton HP 12/11 HVAC Reclass JE /31/2011 2, AA P replace/install 25 ton 12/11 HVAC Reclass JE /31/2011 3, AA P PV Summit Air Cond 12/11 HVAC Reclass JE /31/2011 1, AA P replace 205 ton fan coi 12/11 HVAC Reclass JE /31/ AA P goodman 20 heat pump 12/11 HVAC Reclass JE /31/ AA P TAX 12/11 HVAC Reclass JE /31/ AA P goodman 15 ton heat pump 12/11 HVAC Reclass JE /31/ AA P TAX 12/11 HVAC Reclass JE /31/2011 1, AA P replace 2 ton condensor 12/11 HVAC Reclass JE /31/2011 1, AA P replcae condensor 12/11 HVAC Reclass JE /31/2011 1, AA P replace 2 ton gan coil 12/11 HVAC Reclass JE /31/2011 1, AA P replace condensing unit 12/11 HVAC Reclass JE /31/2011 1, AA P replace 2f fan coil labor 12/11 HVAC Reclass JE /31/ AA P Ton Condensing Unit- Goodm 12/11 HVAC Reclass JE /31/2011 1, AA P replace 2/12 ton fan coil 12/11 HVAC Reclass JE /31/2011 2, AA P replacement of 25t condensing 12/11 HVAC Reclass JE /31/2011 1, AA P /11 HVAC Reclass JE /31/2011 1, AA P condensor 12/11 HVAC Reclass JE /31/2011 1, AA P PV HD Supply

180 R /30/ :23:30 G/L by Object Account Page - 61 From Date - 12/1/2011 Thru Date - 12/31/ Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch 12/11 HVAC Reclass JE /31/ AA P GOODMAN 15T DRY22 HEAT PUMP 12/11 HVAC Reclass JE /31/2011 1, AA P replace 2-ton fan coil 12/11 HVAC Reclass JE /31/2011 1, AA P GOODMAN 25T DRY 22 HEAT PUMP 12/11 HVAC Reclass JE /31/2011 1, AA P replace fan coil 12/11 HVAC Reclass JE /31/2011 1, AA P replace fan coil 12/11 HVAC Reclass JE /31/2011 1, AA P Repalcement of Condensing Unit 12/11 HVAC Reclass JE /31/2011 2, AA P Replacement of Condensing Unit 12/11 HVAC Reclass JE /31/ AA P GOODMAN 20T DRY22 HEAT PUMP HD Supply Facilities Maintenan PV /13/ AA P GOODMAN 20T DRY22 HEAT PUMP Summit Air Conditioning PV /1/2011 1,90000 AA P replace fan coil Summit Air Conditioning PV /1/ AA P ADJUSTMENT Summit Air Conditioning PV /1/ AA P thermostats Summit Air Conditioning PV /1/2011 1,90000 AA P replace fan coil Summit Air Conditioning PV /1/2011 1,10000 AA P Replacement of Condensing Unit Summit Air Conditioning PV /1/ AA P Replacement Parts Summit Air Conditioning PV /1/2011 2,30000 AA P Replacement of Condensing unit HVAC Interior Building Interior Design Keys & Locks Period Total 10, , , Account Total 74, , ,95020 Object Account Total 74, , ,95020 Balance Forward 4, ,93158 Object Account Total 4, ,93158 Balance Forward 2, ,98400 Object Account Total 2, ,98400

181 R /30/ :23:30 G/L by Object Account Page - 62 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Balance Forward 2, ,16952 Object Account Total 2, , Landscaping Office Equipment Painting-Exterior Balance Forward 14, ,52885 Object Account Total 14, ,52885 Balance Forward 6, ,29573 Object Account Total 6, ,29573 paint all elevator lobbies in Balance Forward 2, ,91475 PV /13/2011 3,62000 AA P Painting-Exterior Painting-Interior Plumbing Pools & Fountains Privacy Gates Roof Signs & Flags Windows Miscellaneous Capital Improvmn Period Total 3, ,62000 Account Total 6, ,53475 Object Account Total 6, ,53475 Balance Forward 7, ,76162 Object Account Total 7, ,76162 Balance Forward 13, ,38722 Object Account Total 13, ,38722 Balance Forward 2, ,81000 Object Account Total 2, ,81000 Balance Forward 10, ,77860 Object Account Total 10, ,77860 Balance Forward Object Account Total Balance Forward Object Account Total Balance Forward Object Account Total

182 R /30/ :23:30 G/L by Object Account Page - 63 From Date - 12/1/2011 Thru Date - 12/31/2011 Account Description Do G/L Amount P G/L Account Explanation/Remark Ty Document Date Co Debit Credit Balance LT C Batch Amortization Expense Balance Forward 42, ,42571 Object Account Total 42, ,42571 Balance Forward 54, , /11 Monthly Recurring Entry JE /31/2011 2,90100 AA P BOND COSTS 12/11 Monthly Recurring Entry JE /31/2011 1,45400 AA P BOND COSTS 12/11 Monthly Recurring Entry JE /31/ AA P AMORT CAP RATE 12/11 Interest Rate Cap Escrow JE /31/ AA P /11 Amort Int Rate Cap Amortization Expense Period Total 4, ,98635 Account Total 59, ,83026 Object Account Total 59, ,83026 Company Total Posted 136,193, ,184, ,009,70335 Unposted Grand Total Posted 135,009, ,193, ,184, Unposted

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