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EXAMPLE 3 <br /> Assume the following <br /> a. Adjusted Monthly Rent (1/1/98) $ 439.96 <br /> b. Capital Improvement Cost 25.00 <br /> c. Base Rent for 1998 277.16 <br /> d. Operating Expenses through 9/30/98 138.00 <br /> [165,600 = 100 = 12] <br /> e. Operating Expenses through 9/30/97 134.00 <br /> [160,800 - 100 - 12] <br /> f. Real Property taxes paid through 9/30/98 4.00 <br /> [4800 + 100 - 12] <br /> h. Real Property taxes paid through 9/30/97 3.80 <br /> [4560 _ 100 _ 12] <br /> i. Cost of Living 4% <br /> j. Number of spaces 100 <br /> Calculations from Formula: <br /> S 277.16 [Base Rent for 1998] 277.16 <br /> x 4% [Cost of Living] 11.09 <br /> (3) 11.09 288.25 Base Rent for 1999 <br /> (4) 138.00 (Compare 138 to 105% of 134 = 140.70; 138 is less so add entire <br /> amount) <br /> (5) 4.00 <br /> 277.16 (2) <br /> 11.09 (3) <br /> 138.00 (4) <br /> 4.00 (5) <br /> (6) 430.25 Monthly Rent <br /> 25.00 Cap. Imp. Cost <br /> (7) 455.50 Adjusted Monthly Rent, rounded to the nearest half dollar <br /> EXHIBIT E-3 <br /> (MOBILE IISAM) <br />