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EXHIBIT F
<br />Estimated Asset Value at Build Out
<br />Whisper South
<br />Exhibit F
<br />Estimated Asset Value at Build Out
<br />4/12/2021
<br />Estimated
<br />Estimated
<br />Units /
<br />Appraised
<br />Value
<br />[b]' [c]
<br />Buildout Value
<br />Per Metric[d]
<br />Total
<br />Per Metric
<br />Total
<br />Description [a] Sq.Ft[a]
<br />Tract 1: (Harris Hill Res - Ph 1 & Ph 2)
<br />SFD - All Phases (42')
<br />996
<br />$ 22,819
<br />$
<br />22,728,000
<br />$ 248,000
<br />$
<br />247,008,000
<br />SFD - All Phases (50')
<br />345
<br />$ 29,594
<br />$
<br />10,210,000
<br />$ 285,000
<br />$
<br />98,325,000
<br />SFD - All Phases (60')
<br />59
<br />$ 34,271
<br />$
<br />2,022,000
<br />$ 320,000
<br />$
<br />18,880,000
<br />Multifamily
<br />240
<br />$ 9,721
<br />$
<br />2,333,074
<br />$ 80,000
<br />$
<br />19,200,000
<br />Subtotal
<br />$
<br />37,293,074
<br />$
<br />383,413,000
<br />Tract 2: (NOB 216)
<br />Multifamily
<br />680
<br />$ 14,093
<br />$
<br />9,583,200
<br />$ 80,000
<br />$
<br />54,400,000
<br />Commercial
<br />607,000
<br />$ 12
<br />$
<br />7,238,365
<br />$ 115
<br />$
<br />69,805,000
<br />Subtotal
<br />$
<br />16,821,565
<br />$
<br />124,205,000
<br />Total / Weighted Average
<br />$
<br />54,114,639
<br />$
<br />507,618,000
<br />Footnotes:
<br />[a] Per the developer.
<br />[b] Assumes SFD finished lot value of $50,000 for Phase 1, and paper lot value of $18,000 for remaining phases.
<br />[c] To be determined by appraiser. Reimbursement obligation may be required.
<br />[d] Assumes 100% Phase 1 SFD lots appraised at finished lot values.
<br />PID Petition 31
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