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6.60 <br />EXHIBIT B-1 <br />EXAMPLE 1 <br />Assume the following <br />Adjusted Monthly Rent (1/1/02) <br />Capital Improvement Cost <br />Operating Expenses through 9/30/02 <br />[160,800 _ 100 - 12] <br />Operating Expenses through 9/30/01 <br />[ 156,000 _ 100 _ 12] <br />Real Property taxes paid through 9/30/02 <br />[72,000 - 100 _ 12] <br />Real Property taxes paid through 9/30/01 <br />[70,000 - 100 _ 12] <br />Cost of Living <br />Number of spaces <br />Calculations from Formula: <br />$ 550 Adjusted Monthly Rent <br />< 25> <Capital Improvement Costs> <br />(a) 525 Monthly Rent <br /><188.83> (130 + 58.83) <br />(b) 336.17 Base Rent for 2002 <br />$ 550 <br />25 <br />134 <br />130 <br />60.00 <br />58.83 <br />4% <br />100 <br />336.17 $336.17 <br />x 4% [Cost of Living] + 13.45 <br />(c) 13.45 (Return on Investment) 349.62 (Base Rent for 2003) <br />(d) 134.00 [Compare 134 to 105% of 130 = 136.50; <br />because 134 does not exceed 136.50, the entire 134 can be used] <br />192-69 (Pleasanton Februazy 2002) <br />