Spreadsheet: 856372d1705623820-help-with-formula-please-sample-file
Sheet: Sheet1

 | ESTIMATED SOURCES & USES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | [NAME] | 250
 | USES
 | Pre-Development Expenses |  |  |  |  |  |  |  |  |  |  | $ per Key | 25
 | Acquisition Cost |  |  |  |  |  |  |  |  |  |  | $ per Key | 400000
 | Land Fee |  |  |  |  |  |  |  |  |  |  | $ per Key | 1
 | Prepaid Expenses
 |  | Estimate |  |  |  |  |  |  |  |  |  | $ per Key | 1
 |  | Item #2 |  |  |  |  |  |  |  |  |  | $ per Key | 2
 |  | Item #3 |  |  |  |  |  |  |  |  |  | $ per Key | 3
 |  | Item #4 |  |  |  |  |  |  |  |  |  | $ per Key | 4
 |  | Item #5 |  |  |  |  |  |  |  |  |  | $ per Key | 5
 |  | Item #6 |  |  |  |  |  |  |  |  |  | $ per Key | 6
 | Acquisition Fee (2%)
 |  | Item #1 |  |  |  |  |  |  |  |  |  | $ per Key | 7
 |  | Item #2 |  |  |  |  |  |  |  |  |  | $ per Key | 8
 |  | Item #3 |  |  |  |  |  |  |  |  |  | $ per Key | 9
 |  | Item #4 |  |  |  |  |  |  |  |  |  | $ per Key | 1
 | Construction |  |  |  |  |  |  |  |  |  |  | $ Amt | 10000
 | Design & Build Costs |  |  |  |  |  |  |  |  |  |  |  | 0
 |  | Escalation (Octover 23' Start) |  |  |  |  |  |  |  |  |  | $ per Key | 5
 |  | FF&E/OS&E/LV/IT/FS/TI Allowance |  |  |  |  |  |  |  |  |  | $ per Key | 5
 |  | Design & Engineering |  |  |  |  |  |  |  |  |  | $ per Key | 5
 |  | Environmental Insurance |  |  |  |  |  |  |  |  |  | $ per Key | 5
 |  | PCA |  |  |  |  |  |  |  |  |  | $ per Key | 5
 |  | Other |  |  |  |  |  |  |  |  |  | $ per Key | 5
 | Legal Fees
 |  | Lender Legal |  |  |  |  |  |  |  |  |  | $ per Key | 10
 |  | Borrower Legal |  |  |  |  |  |  |  |  |  | $ per Key | 10
 |  | Cost Segregation |  |  |  |  |  |  |  |  |  | $ per Key | 10
 |  | Other |  |  |  |  |  |  |  |  |  | $ per Key | 10
 | Financing Costs |  |  |  |  |  |  |  |  |  |  | Total
 |  | Senior Loan Origination Fee |  |  |  |  |  |  |  |  |  | $ Amt | 100000
 |  | Mezz Loan Origination Fee |  |  |  |  |  |  |  |  |  | $ Amt | 25000
 |  | PHG Financing Fee - Senior Loan (1.00%) |  |  |  |  |  |  |  |  |  | $ Amt | 100000
 |  | PHG Financing Fee - Mezz Loan (3.00%) |  |  |  |  |  |  |  |  |  | $ Amt | 25000
 |  | Senior Loan Construction Interest Reserve |  |  |  |  |  |  |  |  |  | $ Amt | 50000
 |  | Mezz Loan Construction Interest Reserve |  |  |  |  |  |  |  |  |  | $ Amt | 25000
 |  | Senior Lender Stabilization Interest Reserve |  |  |  |  |  |  |  |  |  | $ Amt | 2500
 |  | Mezz Lender Stabilization Interest Reserve |  |  |  |  |  |  |  |  |  | $ Amt | 2500
 |  | Assumption Fees/Costs |  |  |  |  |  |  |  |  |  | $ Amt | 2500
 |  | Other |  |  |  |  |  |  |  |  |  | $ Amt | 2500
 | Development Costs |  |  |  |  |  |  |  |  |  |  | Total
 |  | Misc Consulting Fees |  |  |  |  |  |  |  |  |  | $ per Key | 5
 |  | Developer Expense |  |  |  |  |  |  |  |  |  | $ per Key | 5
 |  | Testing and Inspection |  |  |  |  |  |  |  |  |  | $ per Key | 5
 |  | Environmental Consultant/Geotech |  |  |  |  |  |  |  |  |  | $ per Key | 5
 |  | Development Impact Fees |  |  |  |  |  |  |  |  |  | $ per Key | 5
 |  | City Fees - Permit Review |  |  |  |  |  |  |  |  |  | $ per Key | 5
 |  | Public Art |  |  |  |  |  |  |  |  |  | $ per Key | 5
 |  | Utility Connection Fees |  |  |  |  |  |  |  |  |  | $ per Key | 5
 |  | Legal (Developer) |  |  |  |  |  |  |  |  |  | $ per Key | 5
 |  | Legal (Sponsor) |  |  |  |  |  |  |  |  |  | $ per Key | 5
 |  | Real Estate Taxes |  |  |  |  |  |  |  |  |  | $ per Key | 5
 |  | Development Fee |  |  |  |  |  |  |  |  |  | $ per Key | 5
 |  | PLL Insurance |  |  |  |  |  |  |  |  |  | $ per Key | 5
 |  | Other |  |  |  |  |  |  |  |  |  | $ per Key | 5
 | Design Fees
 |  | Design Cost to Date Balance |  |  |  |  |  |  |  |  |  | $ per Key | 1
 |  | Utilities Consultant & Fees |  |  |  |  |  |  |  |  |  | $ per Key | 1
 |  | Technology Consultant |  |  |  |  |  |  |  |  |  | $ per Key | 1
 |  | [NAME] |  |  |  |  |  |  |  |  |  | $ per Key | 1
 |  | Interior Designer |  |  |  |  |  |  |  |  |  | $ per Key | 1
 |  | Civil Engineer |  |  |  |  |  |  |  |  |  | $ per Key | 1
 |  | Cost Estimator |  |  |  |  |  |  |  |  |  | $ per Key | 1
 |  | Pre-Construction Services |  |  |  |  |  |  |  |  |  | $ per Key | 1
 |  | Printing & Renderings |  |  |  |  |  |  |  |  |  | $ per Key | 1
 |  | Other |  |  |  |  |  |  |  |  |  | $ per Key | 1
 | Furniture, Fixtures & Equipment
 |  | FF&E - Hotel |  |  |  |  |  |  |  |  |  | $ per Key | 1000
 |  | FF&E - Public Areas |  |  |  |  |  |  |  |  |  | $ per Key | 1000
 |  | Other |  |  |  |  |  |  |  |  |  | $ per Key | 1000
 | Miscellaneous Expenses
 |  | Property Improvement Plan |  |  |  |  |  |  |  |  |  | $ per Key | 15000
 |  | Other |  |  |  |  |  |  |  |  |  | $ per Key | 2500
 | Pre-Opening Costs |  |  |  |  |  |  |  |  |  |  | $ per Key | 5000
 | Working Capital |  |  |  |  |  |  |  |  |  |  | $ per Key | 0
 | Owner Direct Costs
 |  | Owner Direct Costs |  |  |  |  |  |  |  |  |  |  | 0
 |  | Systems Communication, High speed Wireless, Security |  |  |  |  |  |  |  |  |  |  | 0
 |  | Builder's Risk Insurance |  |  |  |  |  |  |  |  |  |  | 0
 | Purchasing Agent Fee |  |  |  |  |  |  |  |  |  |  | $ Amt | 250000
 | Property Tax and Title & Escrow
 |  | Lender Inspector and Disbursements |  |  |  |  |  |  |  |  |  | $ per Key | 1
 |  | PLL Insurance |  |  |  |  |  |  |  |  |  | $ per Key | 1
 |  | Franchise Fee |  |  |  |  |  |  |  |  |  | $ per Key | 1
 |  | Testing and Inspection |  |  |  |  |  |  |  |  |  | $ per Key | 1
 |  | Property Taxes |  |  |  |  |  |  |  |  |  | $ per Key | 1
 |  | Title & Escrow |  |  |  |  |  |  |  |  |  | $ per Key | 1
 |  | Utility Deposits |  |  |  |  |  |  |  |  |  | $ per Key | 1
 | Contingency
 |  | Contingency (%) |  |  |  |  |  |  |  |  |  | Total Amount | 0.03
 |  | Contingency Adjustment |  |  |  |  |  |  |  |  |  | Target
 |  |  |  |  |  |  |  |  |  |  |  | Round | 5000
 | TOTAL USES |  |  |  |  |  |  |  |  |  |  | Adj