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<br />EXHIBIT D <br />SCHEDULE OF PERFORMANCE* <br /> <br />Below is the Islander Motel renovation project schedule of performance for the <br />Developer, Mercy Housing California: <br /> <br />Activi <br /> <br />Date Com leted <br />March 2006 - December 2006 <br />No later than April 27, 2006 <br /> <br />Desi Process <br />Submit Planning Application and Related <br />Documents (i.e., drawin s to Cit <br />Plan Review and Permits <br />Board of Zoning Adjustment (BZA) <br />Reviews Project and Considers It for <br />A roval <br />Execute Predevelo ment Loan A eement <br />Execute Disposition & Development <br />A reement (DDA) <br />Submit Required Insurance to Agency (per <br />Section 1.3.7 in DDA <br />Submit Tax Credit Application to Tax <br />Credit Allocation Committee (TCAC) <br />TCAC Awards Tax Credits <br />Submit Affordable Housing Program <br />(AHP) Application to Federal Home Loan <br />Bank <br />Submit Evidence of Availability of Funds <br />to A enc er Section 1.3.2 in DDA) <br />Submit Financing Plan to Agency (per <br />Section 1.3.1) <br />Construction Bid <br />Closin Date er Section 3.6 in DDA) <br />Marketin <br />Construction Completion (per Section 5.1 <br />in DDA) <br />Rent U ( er Section 5.1 in DDA <br /> <br />A ril2006 - Janu 2007 <br />June 1,2006 <br /> <br />June 5, 2006 <br />June 19,2006 <br /> <br />June-July 2006 <br /> <br />July 2006 <br /> <br />Se tember 2006 <br />October 2006 <br /> <br />December 2006 <br /> <br />December 2006 - February 2007 <br /> <br /> <br /> <br />A ril2008 - July 2008 <br /> <br />*The Schedule of Performance will be revised if the Developer is not awarded tax credits <br />in the second round of2006. <br /> <br />Exhibit D <br />Page 1 of 1 <br />