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Calculated Scholarships Analysis Tower and Forum 1996-2000 Texas Student Housing Corporation All Properties Calculated Scholarships Analysis Fiscal Year Colony Tower and Forum Total 1996 (l) 1997 (2) 17053 (A) 59088 (A) $0 1998 (2) 12211(B) 36961 (B) 0 1999 (2) 15,774 53,334 69,108 2000 (2) 19,423 32,334 51,757 TOTALS $35,197 $85,668 $120,865 (1) No calculation of scholarship earned are-reflected in the books for this short fiscal year, however a flat dollar amount of scholarships were agreed to by the former property owner, who owned the installment obligations on both notes. This information provided by SSRS Management, Inc. However, per TSHC bank records a deposit of$46,030 was received in August 1996 and two disbursements were issued to SSRS. One was in August 1996 for$20,992 and another in Dec. 1997 for$20,850. (2) Calculated in conjuction with the audit based on provisions contained in Section 10.04 of the Installment Sale Agreement for these properties. (A) Paid by SSRS (from TSHC operating accounts for each respective property) in October 1998. (B) Paid by SSRS (from TSHC operating accounts for each respective property) in September 1999. Disbursment recap for scholarship money paid for Housing and Food for receipents: Tower Forum Total October 1998-for fiscal year 1997 scholarships $46,778 $31,923 $78,711 October 1999-for fiscal year 1998 scholarships 64,048 19,405 $83,453 Note- No receipt of funds for scholarship funding have been received by TSHC for the fiscal year 1999 or 2000 as of March 15, 2001.