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TABLE 1 <br />SAN LEANDRO CREEKSIDE CENTER <br />LAND PAYMENT TO AGENCY <br />(1) Presumes close of escrow occurs in 1997. <br />(2) Presumes $200,000 payment at end of 2nd year after opening, based on <br />midpoint of projected range of fair reuse value less the upfront <br />payment of $1.5 million. <br />Payment at Close of Escrow in <br />1997 (Current Dollars) <br />Estimated <br />Payment <br />Year to Agency <br />$1,500,000 (1) <br />Plus Future Payments 1998 <br />$0 <br />1999 <br />$0 <br />2000 $200,000 (2) <br />2001 <br />$0 <br />2002 <br />$0 <br />2003 <br />$0 <br />2004 <br />$0 <br />Present Value of Future Payments Discounted @ <br />7% $160,000 <br />(to December 31, 1997) <br />Total <br />$1,660,000 <br />Source: Keyser Marston Associates, Inc. <br />Prepared by: Keyser Marston Associates, Inc. ♦ ►7 1 <br />Filename: C:IEXCELICORPINCR.XLS; Sect.33433_Iand_pyrnt.; 814/97; WCM. 1 <br />