Example ContractsClausesAdjusted Tax Basis
Adjusted Tax Basis
Adjusted Tax Basis contract clause examples

Adjusted Tax Basis Adjusted Tax Allocated as of December XX, Initial Built- Basis as of 734/743 Value 2017 In Gain December 31, Adjustment Protected Property Protected Partner (A) (B) (A-B) 2016 Amount Avalon Reserve Jefferson Scott Zimmerman 4,216,320 1,817,879 2,398,441 1,920,235 57,541 Sand Lake Pointe Patrick Murphy 668,686 206,878 461,808 229,610 (10,413 ) Sand Lake Pointe Una Murphy 2012 Trust 565,327 174,901 390,427 194,119 (8,803 ) Sand Lake Pointe Una Murphy 103,359 31,977 71,382 35,491 (1,610 ) Sand Lake Pointe Dolphin Properties & Investments LLC 16,717,157 5,171,949 11,545,208 5,740,254 (260,323 ) Sand Lake Pointe Dolphin Properties & Investments #1 LLC 16,717,157 5,171,949 11,545,208 5,740,254 (260,323 ) Sand Lake Pointe Blackfin Properties & Investments LLLP 6,686,863 2,068,780 4,618,083 2,296,101 (104,129 ) Sand Lake Pointe BRM Trust Holdings LLC 334,343 103,439 230,904 114,805 (5,206 ) Sand Lake Pointe BRM Sand Lake Pointe ILP, LLC 33,099,971 10,240,459 22,859,512 11,365,702 (515,439 ) Sand Lake Pointe BRM Sand Lake Pointe, LLC 334,343 103,439 230,904 114,805 (5,206 ) Sand Lake Pointe BRM Advisors ILP Holdings, LLC 33,099,971 10,240,459 22,859,512 11,365,702 (515,439 ) Sand Lake Pointe BRM Advisors, LLC 334,343 103,439 230,904 114,805 (5,206 ) Sand Lake Pointe Sand Lake Pointe Apartments Ltd. 33,434,314 10,343,898 23,090,416 11,480,507 (520,645 ) Spring Harbor Gillis Investments #2 Ltd 5,044,378 2,148,591 2,895,787 2,317,233 296,197 Spring Harbor Lamplighter Investments LLC 2,522,189 1,074,295 1,447,894 1,158,617 148,098 Spring Harbor William M. Murphy Revocable Trust 2,060,179 877,508 1,182,671 946,384 120,970 Spring Harbor Jefferson Scott Zimmerman 1,843,138 785,062 1,058,076 846,681 108,226 Spring Harbor Louis E. Vogt 1,843,138 785,062 1,058,076 846,681 108,226 Spring Harbor William M. Murphy 2012 Trust 966,447 411,646 554,801 443,956 56,748 Spring Harbor James H. Vogt 776,058 330,552 445,506 356,497 45,569 Spring Harbor Daniel E. Vogt 776,058 330,552 445,506 356,497 45,569 Spring Harbor Holly Zimmerman Irrevocable Trust 518,019 220,644 297,375 237,962 30,417 Spring Harbor Elizabeth Zimmerman Irrevocable Trust 518,019 220,644 297,375 237,962 30,417 Spring Harbor Lily Zimmerman Irrevocable Trust 516,079 219,817 296,261 237,071 30,303 Spring Harbor Kate Murphy 504,438 214,859 289,579 231,723 29,620 Spring Harbor Kerri Murphy 504,438 214,859 289,579 231,723 29,620 Spring Harbor Patrick Murphy 504,438 214,859 289,579 231,723 29,620 Spring Harbor Una Murphy 2012 Trust 426,467 181,648 244,819 195,906 25,041 Spring Harbor Una Murphy 77,971 33,211 44,760 35,817 4,578 Spring Harbor Dolphin Properties & Investments #12 LLC 12,610,945 5,371,477 7,239,468 5,793,083 740,492 Spring Harbor Dolphin Properties & Investments LLC 12,610,945 5,371,477 7,239,468 5,793,083 740,492 Spring Harbor Blackfin Properties & Investments LLLP 5,044,378 2,148,591 2,895,787 2,317,233 296,197 Spring Harbor Bull Dolphin Spring Harbor ILP, LLC 19,382,052 8,255,546 11,126,506 8,903,524 1,138,080 Spring Harbor Bull Dolphin Spring Harbor LLC 19,401 8,264 11,138 8,912 1,139 Spring Harbor Bull Dolphin Properties & Investments LLC 19,401,453 8,263,810 11,137,643 8,912,436 1,139,219 Spring Harbor Spring Harbor, Ltd. 19,401,453 8,263,810 11,137,643 8,912,436 1,139,219 Waterford Pointe Gillis Investments #2 Ltd 5,607,676 1,444,485 4,163,191 1,516,370 147,490 Waterford Pointe Louis E. Vogt 3,711,945 956,162 2,755,782 1,003,746 97,630 Waterford Pointe Jefferson Scott Zimmerman 3,531,518 909,686 2,621,832 954,957 92,884 Waterford Pointe Lamplighter Investments LLC 2,803,838 722,243 2,081,595 758,185 73,745 Waterford Pointe William M. Murphy Revocable Trust 2,290,236 589,944 1,700,293 619,302 60,237 Waterford Pointe Daniel Edward Vogt Irrevocable Legacy Trust dated December 27, 2016 1,648,825 424,722 1,224,103 445,858 43,367 Waterford Pointe James Henry Vogt Irrevocable Legacy Trust dated December 27, 2016 1,648,825 424,722 1,224,103 445,858 43,367 Waterford Pointe Holly Zimmerman Irrevocable Legacy Trust dated December 27, 2016 1,374,021 353,935 1,020,086 371,549 36,139 Waterford Pointe Lily Zimmerman Irrevocable Legacy Trust dated December 27, 2016 1,374,021 353,935 1,020,086 371,549 36,139 Waterford Pointe William M. Murphy 2012 Trust 1,074,369 276,747 797,622 290,520 28,257 Waterford Pointe Daniel Zimmerman Irrevocable Legacy Trust dated December 27, 2016 730,035 188,050 541,985 197,409 19,201 Waterford Pointe Kate Murphy 560,768 144,449 416,319 151,637 14,749 Waterford Pointe Kerri Murphy 560,768 144,449 416,319 151,637 14,749 Waterford Pointe Patrick Murphy 560,768 144,449 416,319 151,637 14,749 Waterford Pointe Una Murphy 2012 Trust 474,090 122,121 351,969 128,199 12,469 Waterford Pointe Una Murphy 86,678 22,327 64,350 23,439 2,280 Waterford Pointe Dolphin Properties & Investments LLC 14,019,189 3,611,213 10,407,977 3,790,926 368,725 Waterford Pointe Dolphin Properties & Investments #1 LLC 14,019,189 3,611,213 10,407,977 3,790,926 368,725 Waterford Pointe Blackfin Properties & Investments LLLP 5,607,676 1,444,485 4,163,191 1,516,370 147,490 Waterford Pointe BRM Trust Holdings LLC 280,384 72,224 208,160 75,819 7,375 Waterford Pointe BRM Waterford Pointe ILP, LLC 27,757,995 7,150,201 20,607,794 7,506,033 730,076 Waterford Pointe BRM Waterford Pointe, LLC 280,384 72,224 208,160 75,819 7,375 Waterford Pointe BRM Advisors ILP Holdings, LLC 27,757,995 7,150,201 20,607,794 7,506,033 730,076 Waterford Pointe BRM Advisors, LLC 280,384 72,224 208,160 75,819 7,375 Waterford Pointe Waterford Pointe Apartments Ltd. 28,038,379 7,222,425 20,815,954 7,581,852 737,450 West Pointe Villas Gillis Investments #2 Ltd 6,214,427 1,730,628 4,483,799 1,930,390 67,635 West Pointe Villas Louis E. Vogt 4,113,578 1,145,572 2,968,006 1,277,802 44,770 West Pointe Villas Jefferson Scott Zimmerman 3,913,629 1,089,889 2,823,740 1,215,692 42,594 West Pointe Villas Lamplighter Investments LLC 3,107,213 865,314 2,241,900 965,195 33,818 West Pointe Villas William M. Murphy Revocable Trust 2,538,040 706,807 1,831,233 788,393 27,623 West Pointe Villas Daniel Edward Vogt Irrevocable Legacy Trust dated December 27, 2016 1,827,228 508,856 1,318,371 567,593 19,887 West Pointe Villas James Henry Vogt Irrevocable Legacy Trust dated December 27, 2016 1,827,228 508,856 1,318,371 567,593 19,887 West Pointe Villas Holly Zimmerman Irrevocable Legacy Trust dated December 27, 2016 1,522,690 424,047 1,098,643 472,994 16,572 West Pointe Villas Lily Zimmerman Irrevocable Legacy Trust dated December 27, 2016 1,522,690 424,047 1,098,643 472,994 16,572

Adjusted Tax Basis Adjusted Tax Allocated as of December XX, Initial Built- Basis as of 734/743 Value 2017 In Gain December 31, Adjustment Protected Property Protected Partner (A) (B) (A-B) 2016 Amount Hickory Pointe Kerri Murphy 288,110 72,614 215,496 78,613 (17,107 ) Hickory Pointe Patrick Murphy 288,110 72,614 215,496 78,613 (17,107 ) Hickory Pointe Una Murphy 2012 Trust 243,577 61,390 182,187 66,461 (14,463 ) Hickory Pointe Una Murphy 44,533 11,224 33,309 12,151 (2,644 ) Hickory Pointe Dolphin Properties & Investments LLC 7,202,757 1,815,352 5,387,405 1,965,314 (427,684 ) Hickory Pointe Dolphin Properties & Investments #1 LLC 7,202,757 1,815,352 5,387,405 1,965,314 (427,684 ) Hickory Pointe Blackfin Properties & Investments LLLP 2,881,103 726,141 2,154,962 786,126 (171,073 ) Hickory Pointe BRM Trust Holdings LLC 144,055 36,307 107,748 39,306 (8,554 ) Hickory Pointe BRM Hickory Pointe ILP, LLC 14,261,459 3,594,397 10,667,062 3,891,322 (846,813 ) Hickory Pointe BRM Hickory Pointe, LLC 144,055 36,307 107,748 39,306 (8,554 ) Hickory Pointe BRM Advisors ILP Holdings, LLC 14,261,459 3,594,397 10,667,062 3,891,322 (846,813 ) Hickory Pointe BRM Advisors, LLC 144,055 36,307 107,748 39,306 (8,554 ) Hickory Pointe Hickory Pointe Ltd. 14,405,514 3,630,704 10,774,810 3,930,628 (855,367 ) Hidden Creek Villas Gillis Investments #2 Ltd 5,252,062 1,258,805 3,993,257 1,388,623 494,464 Hidden Creek Villas Louis E. Vogt 3,476,550 833,253 2,643,296 919,185 327,305 Hidden Creek Villas Jefferson Scott Zimmerman 3,307,565 792,751 2,514,813 874,506 311,396 Hidden Creek Villas Lamplighter Investments LLC 2,626,031 629,403 1,996,628 694,312 247,232 Hidden Creek Villas William M. Murphy Revocable Trust 2,145,000 514,110 1,630,890 567,129 201,944 Hidden Creek Villas Daniel Edward Vogt Irrevocable Legacy Trust dated December 27, 2016 1,544,264 370,126 1,174,137 408,297 145,387 Hidden Creek Villas James Henry Vogt Irrevocable Legacy Trust dated December 27, 2016 1,544,264 370,126 1,174,137 408,297 145,387 Hidden Creek Villas Holly Zimmerman Irrevocable Legacy Trust dated December 27, 2016 1,286,886 308,439 978,448 340,247 121,156 Hidden Creek Villas Lily Zimmerman Irrevocable Legacy Trust dated December 27, 2016 1,286,886 308,439 978,448 340,247 121,156 Hidden Creek Villas William M. Murphy 2012 Trust 1,006,237 241,173 765,064 266,045 94,734 Hidden Creek Villas Daniel Zimmerman Irrevocable Legacy Trust dated December 27, 2016 683,740 163,878 519,862 180,778 64,372 Hidden Creek Villas Kate Murphy 525,206 125,881 399,326 138,862 49,446 Hidden Creek Villas Kerri Murphy 525,206 125,881 399,326 138,862 49,446 Hidden Creek Villas Patrick Murphy 525,206 125,881 399,326 138,862 49,446 Hidden Creek Villas Una Murphy 2012 Trust 444,025 106,423 337,602 117,398 41,803 Hidden Creek Villas Una Murphy 81,181 19,457 61,724 21,464 7,643 Hidden Creek Villas Dolphin Properties & Investments LLC 13,130,154 3,147,013 9,983,142 3,471,558 1,236,159 Hidden Creek Villas Dolphin Properties & Investments #1 LLC 13,130,154 3,147,013 9,983,142 3,471,558 1,236,159 Hidden Creek Villas Blackfin Properties & Investments LLLP 5,252,062 1,258,805 3,993,257 1,388,623 494,464 Hidden Creek Villas BRM Trust Holdings LLC 262,603 62,940 199,663 69,431 24,723 Hidden Creek Villas BRM Hidden Creek ILP, LLC 25,997,705 6,231,085 19,766,620 6,873,685 2,447,595 Hidden Creek Villas BRM Hidden Creek, LLC 262,603 62,940 199,663 69,431 24,723 Hidden Creek Villas BRM Advisors ILP Holdings, LLC 25,997,705 6,231,085 19,766,620 6,873,685 2,447,595 Hidden Creek Villas BRM Advisors, LLC 262,603 62,940 199,663 69,431 24,723 Hidden Creek Villas Hidden Creek Villas Ltd. 26,260,308 6,294,025 19,966,283 6,943,116 2,472,318 Homestead Colony Gillis Investments #2 Ltd 8,930,420 1,813,468 7,116,952 1,969,637 489,156 Homestead Colony Lamplighter Investments LLC 4,465,210 906,734 3,558,476 984,818 244,578 Avalon Reserve Jefferson Scott Zimmerman 4,216,320 1,817,879 2,398,441 1,920,235 57,541 Homestead Colony William M. Murphy Revocable Trust 3,647,282 740,640 2,906,641 804,421 199,777 Homestead Colony Jefferson Scott Zimmerman 2,603,561 528,696 2,074,865 574,225 142,608 Homestead Colony Louis E. Vogt 2,603,561 528,696 2,074,865 574,225 142,608 Homestead Colony Angel Arroyo 2,005,910 407,333 1,598,577 442,411 109,872 Homestead Colony William M. Murphy 2012 Trust 1,710,970 347,440 1,363,530 377,361 93,717 Homestead Colony James H. Vogt 1,202,172 244,121 958,051 265,143 65,848 Homestead Colony Daniel E. Vogt 1,202,172 244,121 958,051 265,143 65,848 Homestead Colony Kate Murphy 893,042 181,347 711,695 196,964 48,916 Homestead Colony Kerri Murphy 893,042 181,347 711,695 196,964 48,916 Homestead Colony Patrick Murphy 893,042 181,347 711,695 196,964 48,916 Homestead Colony Elizabeth Zimmerman Irrevocable Trust 803,738 163,212 640,526 177,267 44,024 Homestead Colony Holly Zimmerman Irrevocable Trust 800,303 162,515 637,788 176,510 43,836 Homestead Colony Lily Zimmerman Irrevocable Trust 800,303 162,515 637,788 176,510 43,836 Homestead Colony Una Murphy 2012 Trust 755,004 153,316 601,688 166,519 41,355 Homestead Colony Una Murphy 138,037 28,031 110,007 30,445 7,561 Homestead Colony Dolphin Properties & Investments LLC 22,326,050 4,533,670 17,792,380 4,924,092 1,222,889 Homestead Colony Dolphin Properties & Investments TCR LLC 22,326,050 4,533,670 17,792,380 4,924,092 1,222,889 Homestead Colony Blackfin Properties & Investments LLLP 8,930,420 1,813,468 7,116,952 1,969,637 489,156 Homestead Colony Vogt Family Trust LLC 2,404,344 488,241 1,916,102 530,287 131,696 Homestead Colony BRM Florida Homestead, LLC 343,478 69,749 273,729 75,755 18,814 Homestead Colony BRM Florida Holdings, LLC 343,478 69,749 273,729 75,755 18,814 Homestead Colony BRM Florida Holdings ILP, LLC 34,004,291 6,905,128 27,099,163 7,499,770 1,862,554 Homestead Colony Homestead Colony Limited Partnership 34,347,769 6,974,877 27,372,892 7,575,526 1,881,368 Madison Chase Gillis Investments #2 Ltd 7,241,296 3,601,166 3,640,130 3,822,657 753,938 Madison Chase Lamplighter Investments LLC 3,620,648 1,800,583 1,820,065 1,911,328 376,969 Madison Chase William M. Murphy Revocable Trust 2,957,425 1,470,756 1,486,669 1,561,215 307,917 Madison Chase Jefferson Scott Zimmerman 2,645,858 1,315,811 1,330,047 1,396,740 275,477 Madison Chase Louis E. Vogt 2,645,858 1,315,811 1,330,047 1,396,740 275,477 Madison Chase William M. Murphy 2012 Trust 1,387,353 689,944 697,409 732,379 144,446 Madison Chase James H. Vogt 1,114,046 554,026 560,020 588,101 115,990 Madison Chase Daniel E. Vogt 1,114,046 554,026 560,020 588,101 115,990 Madison Chase Holly Zimmerman Irrevocable Trust 743,625 369,812 373,813 392,557 77,424 Madison Chase Elizabeth Zimmerman Irrevocable Trust 743,625 369,812 373,813 392,557 77,424 Madison Chase Lily Zimmerman Irrevocable Trust 740,840 368,427 372,413 391,087 77,134

Adjusted Tax Basis Adjusted Tax Allocated as of December XX, Initial Built- Basis as of 734/743 Value 2017 In Gain December 31, Adjustment Protected Property Protected Partner (A) (B) (A-B) 2016 Amount Buena Vista Place Dolphin Properties & Investments LLC 15,564,218 4,931,874 10,632,344 5,356,462 1,928,029 Buena Vista Place Dolphin Properties & Investments TCR LLC 15,564,218 4,931,874 10,632,344 5,356,462 1,928,029 Buena Vista Place Blackfin Properties & Investments LLLP 6,225,687 1,972,750 4,252,938 2,142,585 771,211 Buena Vista Place Vogt Family Trust LLC 1,676,147 531,125 1,145,022 576,850 207,634 Buena Vista Place BRM Florida Buena Vista Place I, LLC 2,394 759 1,636 824 297 Buena Vista Place BRM Florida Holdings ILP, LLC 23,942,557 7,586,740 16,355,816 8,239,887 2,965,901 Buena Vista Place BRM Florida Holdings, LLC 2,394 759 1,636 824 297 Buena Vista Place Reams Road Limited Partnership 23,944,951 7,587,499 16,357,452 8,240,711 2,966,198 Buena Vista Place II Gillis Investments #2 Ltd 2,077,740 483,842 1,593,899 535,714 50,673 Buena Vista Place II Lamplighter Investments LLC 1,038,870 241,921 796,949 267,857 25,337 Buena Vista Place II William M. Murphy Revocable Trust 848,572 197,606 650,966 218,791 20,696 Buena Vista Place II Jefferson Scott Zimmerman 605,741 141,058 464,683 156,181 14,773 Buena Vista Place II Louis E. Vogt 605,741 141,058 464,683 156,181 14,773 Buena Vista Place II Angel Arroyo 466,692 108,678 358,014 120,330 11,382 Buena Vista Place II William M. Murphy 2012 Trust 398,072 92,699 305,373 102,637 9,708 Buena Vista Place II James H. Vogt 279,696 65,133 214,563 72,115 6,821 Avalon Reserve Jefferson Scott Zimmerman 4,216,320 1,817,879 2,398,441 1,920,235 57,541 Buena Vista Place II Daniel E. Vogt 279,696 65,133 214,563 72,115 6,821 Buena Vista Place II Kate Murphy 207,774 48,384 159,390 53,571 5,067 Buena Vista Place II Kerri Murphy 207,774 48,384 159,390 53,571 5,067 Buena Vista Place II Patrick Murphy 207,774 48,384 159,390 53,571 5,067 Buena Vista Place II Elizabeth Zimmerman Irrevocable Trust 186,997 43,546 143,451 48,214 4,561 Buena Vista Place II Holly Zimmerman Irrevocable Trust 186,197 43,360 142,838 48,008 4,541 Buena Vista Place II Lily Zimmerman Irrevocable Trust 186,197 43,360 142,838 48,008 4,541 Buena Vista Place II Una Murphy 2012 Trust 175,658 40,905 134,753 45,291 4,284 Buena Vista Place II Una Murphy 32,116 7,479 24,637 8,281 783 Buena Vista Place II Dolphin Properties & Investments LLC 5,194,350 1,209,604 3,984,746 1,339,284 126,684 Buena Vista Place II Dolphin Properties & Investments TCR LLC 5,194,350 1,209,604 3,984,746 1,339,284 126,684 Buena Vista Place II Blackfin Properties & Investments LLLP 2,077,740 483,842 1,593,899 535,714 50,673 Buena Vista Place II Vogt Family Trust LLC 559,392 130,265 429,127 144,231 13,643 Buena Vista Place II BRM Florida Buena Vista Place II, LLC 799 186 613 206 19 Buena Vista Place II BRM Florida Holdings ILP, LLC 7,990,509 1,860,743 6,129,766 2,060,231 194,879 Buena Vista Place II BRM Florida Holdings, LLC 799 186 613 206 19 Buena Vista Place II Reams Road II Limited Partnership 7,991,308 1,860,929 6,130,379 2,060,437 194,898 Camellia Pointe Gillis Investments #2 Ltd 3,386,270 1,342,385 2,043,885 1,436,495 56,080 Camellia Pointe Louis E. Vogt 2,241,507 888,578 1,352,929 950,873 37,122 Camellia Pointe Jefferson Scott Zimmerman 2,132,554 845,387 1,287,167 904,654 35,317 Camellia Pointe Lamplighter Investments LLC 1,693,135 671,192 1,021,942 718,247 28,040 Camellia Pointe William M. Murphy Revocable Trust 1,382,990 548,245 834,745 586,680 22,904 Camellia Pointe Daniel Edward Vogt Irrevocable Legacy Trust dated December 27, 2016 995,665 394,701 600,963 422,373 16,489 Camellia Pointe James Henry Vogt Irrevocable Legacy Trust dated December 27, 2016 995,665 394,701 600,963 422,373 16,489 Camellia Pointe Holly Zimmerman Irrevocable Legacy Trust dated December 27, 2016 829,721 328,918 500,803 351,977 13,741 Camellia Pointe Lily Zimmerman Irrevocable Legacy Trust dated December 27, 2016 829,721 328,918 500,803 351,977 13,741 Camellia Pointe William M. Murphy 2012 Trust 648,772 257,186 391,586 275,217 10,744 Camellia Pointe Daniel Zimmerman Irrevocable Legacy Trust dated December 27, 2016 440,842 174,758 266,083 187,010 7,301 Camellia Pointe Kate Murphy 338,627 134,238 204,388 143,649 5,608 Camellia Pointe Kerri Murphy 338,627 134,238 204,388 143,649 5,608 Camellia Pointe Patrick Murphy 338,627 134,238 204,388 143,649 5,608 Camellia Pointe Una Murphy 2012 Trust 286,285 113,489 172,796 121,446 4,741 Camellia Pointe Una Murphy 52,342 20,749 31,592 22,204 867 Camellia Pointe Dolphin Properties & Investments LLC 8,465,674 3,355,962 5,109,712 3,591,237 140,201 Camellia Pointe Dolphin Properties & Investments #1 LLC 8,465,674 3,355,962 5,109,712 3,591,237 140,201 Camellia Pointe Blackfin Properties & Investments LLLP 3,386,270 1,342,385 2,043,885 1,436,495 56,080 Camellia Pointe BRM Trust Holdings LLC 169,313 67,119 102,194 71,825 2,804 Camellia Pointe BRM Camellia Pointe ILP, LLC 16,762,034 6,644,804 10,117,231 7,110,648 277,598 Camellia Pointe BRM Camellia Pointe, LLC 169,313 67,119 102,194 71,825 2,804 Camellia Pointe BRM Advisors ILP Holdings, LLC 16,762,034 6,644,804 10,117,231 7,110,648 277,598 Camellia Pointe BRM Advisors, LLC 169,313 67,119 102,194 71,825 2,804 Camellia Pointe Camellia Pointe Ltd. 16,931,348 6,711,923 10,219,425 7,182,473 280,402 Congress Park Gillis Investments #2 Ltd 7,996,538 2,491,985 5,504,554 2,651,300 1,325,397 Congress Park Lamplighter Investments LLC 3,998,269 1,245,992 2,752,277 1,325,650 662,698 Congress Park William M. Murphy Revocable Trust 3,265,874 1,017,754 2,248,120 1,082,820 541,307 Congress Park Jefferson Scott Zimmerman 2,331,298 726,509 1,604,789 772,956 386,404 Congress Park Louis E. Vogt 2,331,298 726,509 1,604,789 772,956 386,404 Congress Park Angel Arroyo 1,796,146 559,738 1,236,407 595,523 297,705 Congress Park William M. Murphy 2012 Trust 1,532,049 477,437 1,054,612 507,960 253,931 Congress Park James H. Vogt 1,076,457 335,459 740,998 356,906 178,419 Congress Park Daniel E. Vogt 1,076,457 335,459 740,998 356,906 178,419 Congress Park Kate Murphy 799,654 249,198 550,455 265,130 132,540 Congress Park Kerri Murphy 799,654 249,198 550,455 265,130 132,540 Congress Park Patrick Murphy 799,654 249,198 550,455 265,130 132,540 Congress Park Elizabeth Zimmerman Irrevocable Trust 719,688 224,279 495,410 238,617 119,286 Congress Park Holly Zimmerman Irrevocable Trust 716,613 223,320 493,293 237,597 118,776 Congress Park Lily Zimmerman Irrevocable Trust 716,613 223,320 493,293 237,597 118,776 Congress Park Una Murphy 2012 Trust 676,051 210,680 465,371 224,149 112,053

Adjusted Tax Basis Adjusted Tax Allocated as of December XX, Initial Built- Basis as of 734/743 Value 2017 In Gain December 31, Adjustment Protected Property Protected Partner (A) (B) (A-B) 2016 Amount West Pointe Villas William M. Murphy 2012 Trust 1,190,616 331,569 859,047 369,842 12,958 West Pointe Villas Daniel Zimmerman Irrevocable Legacy Trust dated December 27, 2016 809,025 225,302 583,723 251,308 8,805 West Pointe Villas Kate Murphy 621,443 173,063 448,380 193,039 6,764 West Pointe Villas Kerri Murphy 621,443 173,063 448,380 193,039 6,764 West Pointe Villas Patrick Murphy 621,443 173,063 448,380 193,039 6,764 West Pointe Villas Una Murphy 2012 Trust 525,386 146,312 379,074 163,201 5,718 West Pointe Villas Una Murphy 96,056 26,750 69,306 29,838 1,045 West Pointe Villas Dolphin Properties & Investments LLC 15,536,067 4,326,570 11,209,498 4,825,976 169,088 West Pointe Villas Dolphin Properties & Investments #1 LLC 15,536,067 4,326,570 11,209,498 4,825,976 169,088 West Pointe Villas Blackfin Properties & Investments LLLP 6,214,427 1,730,628 4,483,799 1,930,390 67,635 West Pointe Villas BRM Trust Holdings LLC 310,721 86,531 224,190 96,520 3,382 West Pointe Villas BRM West Pointe ILP, LLC 30,761,413 8,566,608 22,194,806 9,555,431 334,794 West Pointe Villas BRM West Pointe, LLC 310,721 86,531 224,190 96,520 3,382 West Pointe Villas BRM Advisors ILP Holdings, LLC 30,761,413 8,566,608 22,194,806 9,555,431 334,794

Adjusted Tax Basis Adjusted Tax Allocated as of December XX, Initial Built- Basis as of 734/743 Value 2017 In Gain December 31, Adjustment Protected Property Protected Partner (A) (B) (A-B) 2016 Amount Madison Chase Kate Murphy 724,130 360,117 364,013 382,266 75,394 Madison Chase Kerri Murphy 724,130 360,117 364,013 382,266 75,394 Madison Chase Patrick Murphy 724,130 360,117 364,013 382,266 75,394 Madison Chase Una Murphy 2012 Trust 612,201 304,453 307,747 323,179 63,740 Madison Chase Una Murphy 111,929 55,663 56,265 59,087 11,654 Madison Chase Dolphin Properties & Investments #12 LLC 18,103,240 9,002,915 9,100,325 9,556,642 1,884,845 Madison Chase Dolphin Properties & Investments LLC 18,103,240 9,002,915 9,100,325 9,556,642 1,884,845 Madison Chase Blackfin Properties & Investments LLLP 7,241,296 3,601,166 3,640,130 3,822,657 753,938 Madison Chase Bull Dolphin Saddle Brook ILP, LLC 27,823,287 13,836,788 13,986,499 14,687,823 2,896,861 Madison Chase Bull Dolphin Saddle Brook, LLC 27,851 13,851 14,000 14,703 2,900 Madison Chase Bull Dolphin Properties & Investments LLC 27,851,138 13,850,639 14,000,499 14,702,526 2,899,761 Madison Chase Saddlebrook at Palm Beach, Ltd. 27,851,138 13,850,639 14,000,499 14,702,526 2,899,761 Madison Commons Gillis Investments #2 Ltd 3,850,559 1,993,841 1,856,718 2,095,163 346,452 Madison Commons Lamplighter Investments LLC 1,925,280 996,921 928,359 1,047,581 173,226 Madison Commons William M. Murphy Revocable Trust 1,572,611 814,307 758,304 855,687 141,495 Madison Commons Jefferson Scott Zimmerman 1,406,935 728,519 678,416 765,540 126,588 Madison Commons Louis E. Vogt 1,406,935 728,519 678,416 765,540 126,588 Madison Commons William M. Murphy 2012 Trust 737,725 381,998 355,727 401,410 66,376 Madison Commons James H. Vogt 592,394 306,745 285,649 322,333 53,300 Madison Commons Daniel E. Vogt 592,394 306,745 285,649 322,333 53,300 Madison Commons Holly Zimmerman Irrevocable Trust 395,423 204,752 190,671 215,157 35,578 Madison Commons Elizabeth Zimmerman Irrevocable Trust 395,423 204,752 190,671 215,157 35,578 Madison Commons Lily Zimmerman Irrevocable Trust 393,942 203,985 189,957 214,351 35,445 Madison Commons Kate Murphy 385,056 199,384 185,672 209,516 34,645 Madison Commons Kerri Murphy 385,056 199,384 185,672 209,516 34,645 Madison Commons Patrick Murphy 385,056 199,384 185,672 209,516 34,645 Madison Commons Una Murphy 2012 Trust 325,538 168,565 156,973 177,131 29,290 Madison Commons Una Murphy 59,518 30,819 28,699 32,385 5,355 Madison Commons Dolphin Properties & Investments #12 LLC 9,626,398 4,984,603 4,641,795 5,237,907 866,129 Madison Commons Dolphin Properties & Investments LLC 9,626,398 4,984,603 4,641,795 5,237,907 866,129 Madison Commons Blackfin Properties & Investments LLLP 3,850,559 1,993,841 1,856,718 2,095,163 346,452 Madison Commons Bull Dolphin Breckenridge Commons ILP, LLC 14,795,034 7,660,951 7,134,082 8,050,260 1,331,173 Madison Commons Bull Dolphin Breckenridge Commons, LLC 14,810 7,669 7,141 8,058 1,333 Madison Commons Bull Dolphin Properties & Investments LLC 14,809,844 7,668,620 7,141,224 8,058,318 1,332,506 Madison Commons Breckenridge Commons, Ltd. 14,809,844 7,668,620 7,141,224 8,058,318 1,332,506 Magnolia Pointe Gillis Investments #2 Ltd 2,449,927 1,891,588 558,340 2,007,769 445,625 Magnolia Pointe Louis E. Vogt 1,621,705 1,252,117 369,587 1,329,022 294,977 Magnolia Pointe Jefferson Scott Zimmerman 1,542,878 1,191,256 351,623 1,264,423 280,639 Magnolia Pointe Lamplighter Investments LLC 1,224,964 945,794 279,170 1,003,884 222,813 Magnolia Pointe William M. Murphy Revocable Trust 1,000,577 772,545 228,032 819,995 181,998 Magnolia Pointe Daniel Edward Vogt Irrevocable Legacy Trust dated December 27, 2016 720,352 556,184 164,169 590,344 131,027 Magnolia Pointe James Henry Vogt Irrevocable Legacy Trust dated December 27, 2016 720,352 556,184 164,169 590,344 131,027 Magnolia Pointe Holly Zimmerman Irrevocable Legacy Trust dated December 27, 2016 600,293 463,486 136,807 491,954 109,189 Magnolia Pointe Lily Zimmerman Irrevocable Legacy Trust dated December 27, 2016 600,293 463,486 136,807 491,954 109,189 Magnolia Pointe William M. Murphy 2012 Trust 469,379 362,407 106,972 384,666 85,377 Magnolia Pointe Daniel Zimmerman Irrevocable Legacy Trust dated December 27, 2016 318,944 246,256 72,687 261,381 58,014 Magnolia Pointe Kate Murphy 244,993 189,159 55,834 200,777 44,563 Magnolia Pointe Kerri Murphy 244,993 189,159 55,834 200,777 44,563 Magnolia Pointe Patrick Murphy 244,993 189,159 55,834 200,777 44,563

Adjusted Tax Basis Adjusted Tax Allocated as of December XX, Initial Built- Basis as of 734/743 Value 2017 In Gain December 31, Adjustment Protected Property Protected Partner (A) (B) (A-B) 2016 Amount Park Avenue Villas Jefferson Scott Zimmerman 1,095,983 317,874 778,109 362,659 1,458 Park Avenue Villas Lamplighter Investments LLC 870,153 252,375 617,777 287,932 1,158 Park Avenue Villas William M. Murphy Revocable Trust 710,760 206,146 504,614 235,189 946 Park Avenue Villas Daniel Edward Vogt Irrevocable Legacy Trust dated December 27, 2016 511,702 148,412 363,290 169,321 681 Park Avenue Villas James Henry Vogt Irrevocable Legacy Trust dated December 27, 2016 511,702 148,412 363,290 169,321 681 Park Avenue Villas Holly Zimmerman Irrevocable Legacy Trust dated December 27, 2016 426,418 123,677 302,742 141,101 567 Park Avenue Villas Lily Zimmerman Irrevocable Legacy Trust dated December 27, 2016 426,418 123,677 302,742 141,101 567 Park Avenue Villas William M. Murphy 2012 Trust 333,423 96,705 236,719 110,329 444 Park Avenue Villas Daniel Zimmerman Irrevocable Legacy Trust dated December 27, 2016 226,562 65,711 160,851 74,969 301 Park Avenue Villas Kate Murphy 174,031 50,475 123,555 57,586 232 Park Avenue Villas Kerri Murphy 174,031 50,475 123,555 57,586 232 Park Avenue Villas Patrick Murphy 174,031 50,475 123,555 57,586 232 Park Avenue Villas Una Murphy 2012 Trust 147,131 42,673 104,458 48,685 196 Park Avenue Villas Una Murphy 26,900 7,802 19,098 8,901 36 Park Avenue Villas Dolphin Properties & Investments LLC 4,350,764 1,261,877 3,088,887 1,439,660 5,790 Park Avenue Villas Dolphin Properties & Investments #1 LLC 4,350,764 1,261,877 3,088,887 1,439,660 5,790 Park Avenue Villas Blackfin Properties & Investments LLLP 1,740,305 504,751 1,235,555 575,864 2,316 Park Avenue Villas BRM Trust Holdings LLC 87,015 25,238 61,778 28,793 116 Park Avenue Villas BRM Park Avenue ILP, LLC 8,614,512 2,498,515 6,115,997 2,850,527 11,463 Park Avenue Villas BRM Park Avenue, LLC 87,015 25,238 61,778 28,793 116 Park Avenue Villas BRM Advisors ILP Holdings, LLC 8,614,512 2,498,515 6,115,997 2,850,527 11,463 Park Avenue Villas BRM Advisors, LLC 87,015 25,238 61,778 28,793 116 Park Avenue Villas Park Avenue Villas Ltd. 8,701,527 2,523,753 6,177,774 2,879,320 11,579 Pointe Vista I Gillis Investments #2 Ltd 1,549,013 903,530 645,483 963,921 248,058 Pointe Vista I Louis E. Vogt 1,025,353 598,083 427,271 638,058 164,200 Pointe Vista I Jefferson Scott Zimmerman 975,514 569,012 406,502 607,044 156,218 Pointe Vista I Lamplighter Investments LLC 774,506 451,765 322,741 481,961 124,029 Pointe Vista I William M. Murphy Revocable Trust 632,634 369,012 263,622 393,676 101,310 Avalon Reserve Jefferson Scott Zimmerman 4,216,320 1,817,879 2,398,441 1,920,235 57,541 Pointe Vista I Daniel Edward Vogt Irrevocable Legacy Trust dated December 27, 2016 455,456 265,665 189,791 283,422 72,936 Pointe Vista I James Henry Vogt Irrevocable Legacy Trust dated December 27, 2016 455,456 265,665 189,791 283,422 72,936 Pointe Vista I Holly Zimmerman Irrevocable Legacy Trust dated December 27, 2016 379,547 221,387 158,159 236,185 60,780 Pointe Vista I Lily Zimmerman Irrevocable Legacy Trust dated December 27, 2016 379,547 221,387 158,159 236,185 60,780 Pointe Vista I William M. Murphy 2012 Trust 296,774 173,106 123,667 184,677 47,525 Pointe Vista I Daniel Zimmerman Irrevocable Legacy Trust dated December 27, 2016 201,658 117,626 84,032 125,488 32,293 Pointe Vista I Kate Murphy 154,901 90,353 64,548 96,392 24,806 Pointe Vista I Kerri Murphy 154,901 90,353 64,548 96,392 24,806 Pointe Vista I Patrick Murphy 154,901 90,353 64,548 96,392 24,806 Pointe Vista I Una Murphy 2012 Trust 130,958 76,387 54,571 81,493 20,972 Pointe Vista I Una Murphy 23,943 13,966 9,977 14,899 3,834 Pointe Vista I Dolphin Properties & Investments LLC 3,872,532 2,258,825 1,613,707 2,409,804 620,145 Pointe Vista I Dolphin Properties & Investments #1 LLC 3,872,532 2,258,825 1,613,707 2,409,804 620,145 Pointe Vista I Blackfin Properties & Investments LLLP 1,549,013 903,530 645,483 963,921 248,058 Pointe Vista I BRM Trust Holdings LLC 77,451 45,177 32,274 48,196 12,403 Pointe Vista I BRM Pointe Vista ILP, LLC 7,667,613 4,472,474 3,195,139 4,771,411 1,227,887 Pointe Vista I BRM Pointe Vista, LLC 77,451 45,177 32,274 48,196 12,403 Pointe Vista I BRM Advisors ILP Holdings, LLC 7,667,613 4,472,474 3,195,139 4,771,411 1,227,887 Pointe Vista I BRM Advisors, LLC 77,451 45,177 32,274 48,196 12,403 Pointe Vista I Pointe Vista Ltd. 7,745,063 4,517,650 3,227,413 4,819,607 1,240,290 Pointe Vista II Gillis Investments #2 Ltd 6,098,051 3,008,029 3,090,021 3,211,987 853,412 Pointe Vista II Louis E. Vogt 4,036,544 1,991,135 2,045,409 2,126,142 564,908 Pointe Vista II Jefferson Scott Zimmerman 3,840,339 1,894,352 1,945,987 2,022,797 537,449 Pointe Vista II Lamplighter Investments LLC 3,049,025 1,504,015 1,545,011 1,605,993 426,706 Pointe Vista II William M. Murphy Revocable Trust 2,490,511 1,228,512 1,261,999 1,311,811 348,543 Pointe Vista II Daniel Edward Vogt Irrevocable Legacy Trust dated December 27, 2016 1,793,010 884,451 908,559 944,420 250,929 Pointe Vista II James Henry Vogt Irrevocable Legacy Trust dated December 27, 2016 1,793,010 884,451 908,559 944,420 250,929 Pointe Vista II Holly Zimmerman Irrevocable Legacy Trust dated December 27, 2016 1,494,175 737,042 757,132 787,017 209,107 Pointe Vista II Lily Zimmerman Irrevocable Legacy Trust dated December 27, 2016 1,494,175 737,042 757,132 787,017 209,107 Pointe Vista II William M. Murphy 2012 Trust 1,168,319 576,305 592,014 615,381 163,504 Pointe Vista II Daniel Zimmerman Irrevocable Legacy Trust dated December 27, 2016 793,875 391,600 402,274 418,152 111,101 Pointe Vista II Kate Murphy 609,805 300,803 309,002 321,199 85,341 Pointe Vista II Kerri Murphy 609,805 300,803 309,002 321,199 85,341 Pointe Vista II Patrick Murphy 609,805 300,803 309,002 321,199 85,341 Pointe Vista II Una Murphy 2012 Trust 515,548 254,308 261,240 271,551 72,150 Pointe Vista II Una Murphy 94,258 46,495 47,762 49,648 13,191

Adjusted Tax Basis Adjusted Tax Allocated as of December XX, Initial Built- Basis as of 734/743 Value 2017 In Gain December 31, Adjustment Protected Property Protected Partner (A) (B) (A-B) 2016 Amount Avalon Reserve Jefferson Scott Zimmerman 4,216,320 1,817,879 2,398,441 1,920,235 57,541 Magnolia Pointe Una Murphy 2012 Trust 207,124 159,920 47,204 169,743 37,674 Magnolia Pointe Una Murphy 37,869 29,238 8,630 31,034 6,888 Magnolia Pointe Dolphin Properties & Investments LLC 6,124,818 4,728,969 1,395,849 5,019,422 1,114,063 Magnolia Pointe Dolphin Properties & Investments #1 LLC 6,124,818 4,728,969 1,395,849 5,019,422 1,114,063 Magnolia Pointe Blackfin Properties & Investments LLLP 2,449,927 1,891,588 558,340 2,007,769 445,625 Magnolia Pointe BRM Trust Holdings LLC 122,496 94,579 27,917 100,388 22,281 Magnolia Pointe BRM Magnolia Pointe ILP, LLC 12,127,140 9,363,359 2,763,781 9,938,456 2,205,844 Magnolia Pointe BRM Magnolia Pointe, LLC 122,496 94,579 27,917 100,388 22,281 Magnolia Pointe BRM Advisors ILP Holdings, LLC 12,127,140 9,363,359 2,763,781 9,938,456 2,205,844 Magnolia Pointe BRM Advisors, LLC 122,496 94,579 27,917 100,388 22,281 Magnolia Pointe Magnolia Pointe Ltd. 12,249,636 9,457,938 2,791,698 10,038,844 2,228,125 Mariner’s Cove Gillis Investments #2 Ltd 4,289,885 823,927 3,465,958 852,282 (62,510 ) Mariner’s Cove Lamplighter Investments LLC 2,144,942 411,964 1,732,979 426,141 (31,255 ) Mariner’s Cove William M. Murphy Revocable Trust 1,752,036 336,501 1,415,535 348,081 (25,530 ) Mariner’s Cove Jefferson Scott Zimmerman 1,250,666 240,206 1,010,460 248,473 (18,224 ) Mariner’s Cove Louis E. Vogt 1,250,666 240,206 1,010,460 248,473 (18,224 ) Mariner’s Cove Angel Arroyo 963,574 185,067 778,507 191,436 (14,041 ) Mariner’s Cove William M. Murphy 2012 Trust 821,895 157,855 664,039 163,288 (11,976 ) Mariner’s Cove James H. Vogt 577,485 110,913 466,571 114,730 (8,415 ) Mariner’s Cove Daniel E. Vogt 577,485 110,913 466,571 114,730 (8,415 ) Mariner’s Cove Kate Murphy 428,988 82,393 346,596 85,228 (6,251 ) Mariner’s Cove Kerri Murphy 428,988 82,393 346,596 85,228 (6,251 ) Mariner’s Cove Patrick Murphy 428,988 82,393 346,596 85,228 (6,251 ) Mariner’s Cove Elizabeth Zimmerman Irrevocable Trust 386,090 74,153 311,936 76,705 (5,626 ) Mariner’s Cove Holly Zimmerman Irrevocable Trust 384,440 73,837 310,603 76,378 (5,602 ) Mariner’s Cove Lily Zimmerman Irrevocable Trust 384,440 73,837 310,603 76,378 (5,602 ) Mariner’s Cove Una Murphy 2012 Trust 362,680 69,657 293,022 72,054 (5,285 ) Mariner’s Cove Una Murphy 66,309 12,735 53,573 13,174 (966 ) Mariner’s Cove Dolphin Properties & Investments LLC 10,724,712 2,059,818 8,664,895 2,130,704 (156,276 ) Mariner’s Cove Dolphin Properties & Investments KW LLC 10,724,712 2,059,818 8,664,895 2,130,704 (156,276 ) Mariner’s Cove Blackfin Properties & Investments LLLP 4,289,885 823,927 3,465,958 852,282 (62,510 ) Mariner’s Cove Vogt Family Trust LLC 1,154,969 221,827 933,143 229,460 (16,830 ) Mariner’s Cove BRM Southeast Mariner’s Cove ILP, LLC 16,334,562 3,137,261 13,197,301 3,245,226 (238,020 ) Mariner’s Cove BRM Southeast Mariner’s Cove GP, LLC 164,996 31,690 133,306 32,780 (2,404 ) Mariner’s Cove BRM Southeast Mariner’s Cove Holdings LLC 16,499,558 3,168,950 13,330,608 3,278,006 (240,424 ) Mariner’s Cove Mariner’s Cove Apartments Associates, Ltd. 16,499,558 3,168,950 13,330,608 3,278,006 (240,424 ) Metro Place I Gillis Investments #2 Ltd 5,509,025 1,023,518 4,485,507 1,261,924 57,809 Metro Place I Louis E. Vogt 3,646,644 677,508 2,969,137 835,318 38,266 Metro Place I Jefferson Scott Zimmerman 3,469,391 644,576 2,824,815 794,716 36,406 Metro Place I Lamplighter Investments LLC 2,754,513 511,759 2,242,754 630,962 28,904 Metro Place I William M. Murphy Revocable Trust 2,249,947 418,016 1,831,930 515,384 23,610 Metro Place I Daniel Edward Vogt Irrevocable Legacy Trust dated December 27, 2016 1,619,819 300,945 1,318,874 371,044 16,998 Metro Place I James Henry Vogt Irrevocable Legacy Trust dated December 27, 2016 1,619,819 300,945 1,318,874 371,044 16,998 Metro Place I Holly Zimmerman Irrevocable Legacy Trust dated December 27, 2016 1,349,849 250,787 1,099,061 309,203 14,165 Metro Place I Lily Zimmerman Irrevocable Legacy Trust dated December 27, 2016 1,349,849 250,787 1,099,061 309,203 14,165 Metro Place I William M. Murphy 2012 Trust 1,055,469 196,095 859,374 241,771 11,076 Metro Place I Daniel Zimmerman Irrevocable Legacy Trust dated December 27, 2016 717,192 133,247 583,946 164,284 7,526 Metro Place I Kate Murphy 550,903 102,352 448,551 126,192 5,781 Metro Place I Kerri Murphy 550,903 102,352 448,551 126,192 5,781 Metro Place I Patrick Murphy 550,903 102,352 448,551 126,192 5,781 Metro Place I Una Murphy 2012 Trust 465,750 86,531 379,218 106,687 4,887 Metro Place I Una Murphy 85,153 15,821 69,332 19,506 894 Metro Place I Dolphin Properties & Investments LLC 13,772,563 2,558,795 11,213,768 3,154,811 144,522 Metro Place I Dolphin Properties & Investments #1 LLC 13,772,563 2,558,795 11,213,768 3,154,811 144,522 Metro Place I Blackfin Properties & Investments LLLP 5,509,025 1,023,518 4,485,507 1,261,924 57,809 Metro Place I BRM Trust Holdings LLC 275,451 51,176 224,275 63,096 2,890 Metro Place I BRM Metro Place ILP, LLC 27,269,675 5,066,414 22,203,261 6,246,526 286,154 Metro Place I BRM Metro Place, LLC 275,451 51,176 224,275 63,096 2,890 Metro Place I BRM Advisors ILP Holdings, LLC 27,269,675 5,066,414 22,203,261 6,246,526 286,154 Metro Place I BRM Advisors, LLC 275,451 51,176 224,275 63,096 2,890 Metro Place I Metro Place Ltd. 27,545,126 5,117,590 22,427,536 6,309,622 289,044 Metro Place II Gillis Investments #2 Ltd 5,035,839 1,608,660 3,427,179 1,800,373 764,876 Metro Place II Louis E. Vogt 3,333,423 1,064,836 2,268,587 1,191,739 506,302 Metro Place II Jefferson Scott Zimmerman 3,171,395 1,013,078 2,158,317 1,133,812 481,692 Metro Place II Lamplighter Investments LLC 2,517,919 804,330 1,713,589 900,186 382,438 Metro Place II William M. Murphy Revocable Trust 2,056,692 656,994 1,399,698 735,292 312,384 Metro Place II Daniel Edward Vogt Irrevocable Legacy Trust dated December 27, 2016 1,480,688 472,994 1,007,693 529,364 224,896 Metro Place II James Henry Vogt Irrevocable Legacy Trust dated December 27, 2016 1,480,688 472,994 1,007,693 529,364 224,896 Metro Place II Holly Zimmerman Irrevocable Legacy Trust dated December 27, 2016 1,233,906 394,162 839,745 441,136 187,414 Metro Place II Lily Zimmerman Irrevocable Legacy Trust dated December 27, 2016 1,233,906 394,162 839,745 441,136 187,414

Adjusted Tax Basis Adjusted Tax Allocated as of December XX, Initial Built- Basis as of 734/743 Value 2017 In Gain December 31, Adjustment Protected Property Protected Partner (A) (B) (A-B) 2016 Amount Congress Park Una Murphy 123,602 38,519 85,084 40,981 20,487 Congress Park Dolphin Properties & Investments LLC 19,991,346 6,229,961 13,761,384 6,628,250 3,313,492 Congress Park Dolphin Properties & Investments TCR LLC 19,991,346 6,229,961 13,761,384 6,628,250 3,313,492 Congress Park Blackfin Properties & Investments LLLP 7,996,538 2,491,985 5,504,554 2,651,300 1,325,397 Congress Park Vogt Family Trust LLC 2,152,914 670,919 1,481,995 713,812 356,838 Congress Park BRM Florida Congress, LLC 307,559 95,846 211,714 101,973 50,977 Congress Park BRM Florida Holdings, LLC 307,559 95,846 211,714 101,973 50,977 Congress Park BRM Florida Holdings ILP, LLC 30,448,357 9,488,710 20,959,647 10,095,335 5,046,703 Congress Park Congress Park Limited Partnership 30,755,916 9,584,556 21,171,360 10,197,308 5,097,680 Cypress Ridge Gillis Investments #2 Ltd 1,061,466 704,791 356,675 733,326 218 Cypress Ridge Louis E. Vogt 702,627 466,529 236,097 485,418 144 Cypress Ridge Jefferson Scott Zimmerman 668,474 443,853 224,621 461,823 137 Cypress Ridge Lamplighter Investments LLC 530,733 352,395 178,337 366,663 109 Cypress Ridge William M. Murphy Revocable Trust 433,514 287,844 145,670 299,499 89 Cypress Ridge Daniel Edward Vogt Irrevocable Legacy Trust dated December 27, 2016 312,103 207,230 104,873 215,620 64 Cypress Ridge James Henry Vogt Irrevocable Legacy Trust dated December 27, 2016 312,103 207,230 104,873 215,620 64 Cypress Ridge Holly Zimmerman Irrevocable Legacy Trust dated December 27, 2016 260,086 172,691 87,394 179,683 53 Cypress Ridge Lily Zimmerman Irrevocable Legacy Trust dated December 27, 2016 260,086 172,691 87,394 179,683 53 Cypress Ridge William M. Murphy 2012 Trust 203,365 135,030 68,335 140,497 42 Cypress Ridge Daniel Zimmerman Irrevocable Legacy Trust dated December 27, 2016 138,187 91,753 46,434 95,468 28 Cypress Ridge Kate Murphy 106,147 70,479 35,667 73,333 22 Cypress Ridge Kerri Murphy 106,147 70,479 35,667 73,333 22 Cypress Ridge Patrick Murphy 106,147 70,479 35,667 73,333 22 Cypress Ridge Una Murphy 2012 Trust 89,740 59,585 30,154 61,998 18 Cypress Ridge Una Murphy 16,407 10,894 5,513 11,335 3 Avalon Reserve Jefferson Scott Zimmerman 4,216,320 1,817,879 2,398,441 1,920,235 57,541 Cypress Ridge Dolphin Properties & Investments LLC 2,653,665 1,761,977 891,687 1,833,316 545 Cypress Ridge Dolphin Properties & Investments #1 LLC 2,653,665 1,761,977 891,687 1,833,316 545 Cypress Ridge Blackfin Properties & Investments LLLP 1,061,466 704,791 356,675 733,326 218 Cypress Ridge BRM Trust Holdings LLC 2,602 1,728 874 1,798 1 Cypress Ridge BRM Cypress Ridge ILP, LLC 5,304,727 3,522,227 1,782,500 3,664,834 1,090 Cypress Ridge BRM Cypress Ridge, LLC 2,602 1,728 874 1,798 1 Cypress Ridge BRM Advisors ILP Holdings, LLC 5,304,727 3,522,227 1,782,500 3,664,834 1,090 Cypress Ridge BRM Advisors, LLC 2,602 1,728 874 1,798 1 Cypress Ridge Cypress Ridge Ltd. 5,310,037 3,525,753 1,784,284 3,668,503 1,091 Glen Oaks Gillis Investments #2 Ltd 3,403,495 2,760,872 642,622 2,867,766 344,338 Glen Oaks Lamplighter Investments LLC 1,701,747 1,380,436 321,311 1,433,883 172,169 Glen Oaks William M. Murphy Revocable Trust 1,390,025 1,127,571 262,454 1,171,227 140,631 Glen Oaks Jefferson Scott Zimmerman 1,243,585 1,008,780 234,804 1,047,838 125,816 Glen Oaks Louis E. Vogt 1,243,585 1,008,780 234,804 1,047,838 125,816 Glen Oaks William M. Murphy 2012 Trust 652,072 528,953 123,119 549,433 65,971 Glen Oaks James H. Vogt 523,615 424,750 98,865 441,195 52,975 Glen Oaks Daniel E. Vogt 523,615 424,750 98,865 441,195 52,975 Glen Oaks Holly Zimmerman Irrevocable Trust 349,513 283,520 65,992 294,498 35,361 Glen Oaks Elizabeth Zimmerman Irrevocable Trust 349,513 283,520 65,992 294,498 35,361 Glen Oaks Lily Zimmerman Irrevocable Trust 348,204 282,458 65,745 293,395 35,228 Glen Oaks Kate Murphy 340,349 276,087 64,262 286,777 34,434 Glen Oaks Kerri Murphy 340,349 276,087 64,262 286,777 34,434 Glen Oaks Patrick Murphy 340,349 276,087 64,262 286,777 34,434 Glen Oaks Una Murphy 2012 Trust 287,742 233,412 54,329 242,450 29,111 Glen Oaks Una Murphy 52,608 42,675 9,933 44,327 5,322 Glen Oaks Dolphin Properties & Investments #12 LLC 8,508,737 6,902,181 1,606,556 7,169,416 860,845 Glen Oaks Dolphin Properties & Investments LLC 8,508,737 6,902,181 1,606,556 7,169,416 860,845 Glen Oaks Blackfin Properties & Investments LLLP 3,403,495 2,760,872 642,622 2,867,766 344,338 Glen Oaks Bull Dolphin Glen Oaks ILP LLC 13,089,056 10,617,678 2,471,377 11,028,768 1,324,245 Glen Oaks Bull Dolphin Properties & Investments LLC 13,090,365 10,618,740 2,471,625 11,029,871 1,324,377 Glen Oaks Affordable/Glen Oaks, Ltd. 13,090,365 10,618,740 2,471,625 11,029,871 1,324,377 Hickory Pointe Gillis Investments #2 Ltd 2,881,103 726,141 2,154,962 786,126 (171,073 ) Hickory Pointe Louis E. Vogt 1,907,117 480,662 1,426,456 520,368 (113,240 ) Hickory Pointe Jefferson Scott Zimmerman 1,814,418 457,298 1,357,120 495,074 (107,736 ) Hickory Pointe Lamplighter Investments LLC 1,440,551 363,070 1,077,481 393,063 (85,537 ) Hickory Pointe William M. Murphy Revocable Trust 1,176,674 296,564 880,110 321,062 (69,868 ) Hickory Pointe Daniel Edward Vogt Irrevocable Legacy Trust dated December 27, 2016 847,131 213,507 633,623 231,145 (50,301 ) Hickory Pointe James Henry Vogt Irrevocable Legacy Trust dated December 27, 2016 847,131 213,507 633,623 231,145 (50,301 ) Hickory Pointe Holly Zimmerman Irrevocable Legacy Trust dated December 27, 2016 705,942 177,923 528,020 192,620 (41,917 ) Hickory Pointe Lily Zimmerman Irrevocable Legacy Trust dated December 27, 2016 705,942 177,923 528,020 192,620 (41,917 ) Hickory Pointe William M. Murphy 2012 Trust 551,988 139,121 412,867 150,613 (32,776 ) Hickory Pointe Daniel Zimmerman Irrevocable Legacy Trust dated December 27, 2016 375,076 94,533 280,544 102,342 (22,271 ) Hickory Pointe Kate Murphy 288,110 72,614 215,496 78,613 (17,107 )

Adjusted Tax Basis Adjusted Tax Allocated as of December XX, Initial Built- Basis as of 734/743 Value 2017 In Gain December 31, Adjustment Protected Property Protected Partner (A) (B) (A-B) 2016 Amount Pointe Vista II Dolphin Properties & Investments LLC 15,245,127 7,520,074 7,725,053 8,029,967 2,133,530 Pointe Vista II Dolphin Properties & Investments #1 LLC 15,245,127 7,520,074 7,725,053 8,029,967 2,133,530 Pointe Vista II Blackfin Properties & Investments LLLP 6,098,051 3,008,029 3,090,021 3,211,987 853,412 Pointe Vista II BRM Trust Holdings LLC 304,903 150,401 154,501 160,599 42,671 Pointe Vista II BRM Pointe Vista II ILP, LLC 30,185,351 14,889,746 15,295,606 15,899,334 4,224,389 Pointe Vista II BRM Pointe Vista II, LLC 304,903 150,401 154,501 160,599 42,671 Pointe Vista II BRM Advisors ILP Holdings, LLC 30,185,351 14,889,746 15,295,606 15,899,334 4,224,389 Pointe Vista II BRM Advisors, LLC 304,903 150,401 154,501 160,599 42,671 Pointe Vista II Pointe Vista II Ltd. 30,490,254 15,040,147 15,450,107 16,059,933 4,267,060 Providence Reserve Gillis Investments #2 Ltd 2,751,787 1,148,433 1,603,354 1,213,502 (133,412 ) Providence Reserve Louis E. Vogt 1,821,518 760,194 1,061,324 803,266 (88,311 ) Providence Reserve Jefferson Scott Zimmerman 1,732,979 723,243 1,009,736 764,221 (84,018 ) Providence Reserve Lamplighter Investments LLC 1,375,894 574,217 801,677 606,751 (66,706 ) Providence Reserve William M. Murphy Revocable Trust 1,123,860 469,033 654,827 495,608 (54,487 ) Providence Reserve Daniel Edward Vogt Irrevocable Legacy Trust dated December 27, 2016 809,108 337,674 471,434 356,806 (39,227 ) Providence Reserve James Henry Vogt Irrevocable Legacy Trust dated December 27, 2016 809,108 337,674 471,434 356,806 (39,227 ) Providence Reserve Holly Zimmerman Irrevocable Legacy Trust dated December 27, 2016 674,257 281,395 392,862 297,338 (32,689 ) Providence Reserve Lily Zimmerman Irrevocable Legacy Trust dated December 27, 2016 674,257 281,395 392,862 297,338 (32,689 ) Providence Reserve William M. Murphy 2012 Trust 527,212 220,027 307,185 232,494 (25,560 ) Providence Reserve Daniel Zimmerman Irrevocable Legacy Trust dated December 27, 2016 358,241 149,509 208,733 157,980 (17,368 ) Providence Reserve Kate Murphy 275,179 114,843 160,335 121,350 (13,341 ) Providence Reserve Kerri Murphy 275,179 114,843 160,335 121,350 (13,341 ) Providence Reserve Patrick Murphy 275,179 114,843 160,335 121,350 (13,341 ) Providence Reserve Una Murphy 2012 Trust 232,644 97,092 135,552 102,593 (11,279 ) Providence Reserve Una Murphy 42,534 17,751 24,783 18,757 (2,062 ) Providence Reserve Dolphin Properties & Investments LLC 6,879,468 2,871,083 4,008,385 3,033,756 (333,531 ) Providence Reserve Dolphin Properties & Investments #1 LLC 6,879,468 2,871,083 4,008,385 3,033,756 (333,531 ) Providence Reserve Blackfin Properties & Investments LLLP 2,751,787 1,148,433 1,603,354 1,213,502 (133,412 ) Providence Reserve BRM Trust Holdings LLC 137,589 57,422 80,168 60,675 (6,671 ) Providence Reserve BRM Lake Providence ILP, LLC 13,621,347 5,684,744 7,936,603 6,006,836 (660,390 ) Providence Reserve BRM Lake Providence, LLC 137,589 57,422 80,168 60,675 (6,671 ) Providence Reserve BRM Advisors ILP Holdings, LLC 13,621,347 5,684,744 7,936,603 6,006,836 (660,390 ) Providence Reserve BRM Advisors, LLC 137,589 57,422 80,168 60,675 (6,671 ) Providence Reserve Lake Providence Ltd. 13,758,936 5,742,166 8,016,770 6,067,511 (667,061 ) Sand Lake Pointe Gillis Investments #2 Ltd 6,686,863 2,068,780 4,618,083 2,296,101 (104,129 ) Sand Lake Pointe Louis E. Vogt 4,426,302 1,369,408 3,056,894 1,519,881 (68,927 ) Sand Lake Pointe Jefferson Scott Zimmerman 4,211,152 1,302,845 2,908,307 1,446,004 (65,577 ) Sand Lake Pointe Lamplighter Investments LLC 3,343,431 1,034,390 2,309,042 1,148,051 (52,065 ) Sand Lake Pointe William M. Murphy Revocable Trust 2,730,988 844,912 1,886,076 937,753 (42,527 ) Sand Lake Pointe Daniel Edward Vogt Irrevocable Legacy Trust dated December 27, 2016 1,966,138 608,283 1,357,855 675,123 (30,617 ) Sand Lake Pointe James Henry Vogt Irrevocable Legacy Trust dated December 27, 2016 1,966,138 608,283 1,357,855 675,123 (30,617 ) Sand Lake Pointe Holly Zimmerman Irrevocable Legacy Trust dated December 27, 2016 1,638,449 506,903 1,131,546 562,602 (25,514 ) Sand Lake Pointe Lily Zimmerman Irrevocable Legacy Trust dated December 27, 2016 1,638,449 506,903 1,131,546 562,602 (25,514 ) Sand Lake Pointe William M. Murphy 2012 Trust 1,281,129 396,355 884,774 439,908 (19,950 ) Sand Lake Pointe Daniel Zimmerman Irrevocable Legacy Trust dated December 27, 2016 870,529 269,324 601,205 298,918 (13,556 ) Sand Lake Pointe Kate Murphy 668,686 206,878 461,808 229,610 (10,413 ) Sand Lake Pointe Kerri Murphy 668,686 206,878 461,808 229,610 (10,413 )

Adjusted Tax Basis Adjusted Tax Allocated as of December XX, Initial Built- Basis as of 734/743 Value 2017 In Gain December 31, Adjustment Protected Property Protected Partner (A) (B) (A-B) 2016 Amount Metro Place II William M. Murphy 2012 Trust 964,811 308,201 656,610 344,932 146,542 Metro Place II Daniel Zimmerman Irrevocable Legacy Trust dated December 27, 2016 655,591 209,423 446,167 234,382 99,575 Metro Place II Kate Murphy 503,584 160,866 342,718 180,037 76,488 Metro Place II Kerri Murphy 503,584 160,866 342,718 180,037 76,488 Metro Place II Patrick Murphy 503,584 160,866 342,718 180,037 76,488 Metro Place II Una Murphy 2012 Trust 425,745 136,001 289,744 152,209 64,665 Metro Place II Una Murphy 77,839 24,865 52,974 27,828 11,823 Metro Place II Dolphin Properties & Investments LLC 12,589,596 4,021,649 8,567,947 4,500,932 1,912,190 Metro Place II Dolphin Properties & Investments #1 LLC 12,589,596 4,021,649 8,567,947 4,500,932 1,912,190 Metro Place II Blackfin Properties & Investments LLLP 5,035,839 1,608,660 3,427,179 1,800,373 764,876 Metro Place II BRM Trust Holdings LLC 251,792 80,433 171,359 90,019 38,244 Metro Place II BRM Metro Place II ILP, LLC 24,927,401 7,962,865 16,964,536 8,911,845 3,786,135 Metro Place II BRM Metro Place II, LLC 251,792 80,433 171,359 90,019 38,244 Avalon Reserve Jefferson Scott Zimmerman 4,216,320 1,817,879 2,398,441 1,920,235 57,541 Metro Place II BRM Advisors ILP Holdings, LLC 24,927,401 7,962,865 16,964,536 8,911,845 3,786,135 Metro Place II BRM Advisors, LLC 251,792 80,433 171,359 90,019 38,244 Metro Place II Metro Place II Ltd. 25,179,193 8,043,298 17,135,895 9,001,864 3,824,379 Osprey Ridge Gillis Investments #2 Ltd 3,277,556 1,641,798 1,635,758 1,730,598 169,007 Osprey Ridge Louis E. Vogt 2,169,546 1,086,772 1,082,774 1,145,552 111,872 Osprey Ridge Jefferson Scott Zimmerman 2,064,090 1,033,947 1,030,143 1,089,870 106,434 Osprey Ridge Lamplighter Investments LLC 1,638,778 820,899 817,879 865,299 84,503 Osprey Ridge William M. Murphy Revocable Trust 1,338,590 670,528 668,062 706,795 69,024 Osprey Ridge Daniel Edward Vogt Irrevocable Legacy Trust dated December 27, 2016 963,700 482,738 480,962 508,848 49,693 Osprey Ridge James Henry Vogt Irrevocable Legacy Trust dated December 27, 2016 963,700 482,738 480,962 508,848 49,693 Osprey Ridge Holly Zimmerman Irrevocable Legacy Trust dated December 27, 2016 803,083 402,282 400,802 424,040 41,411 Osprey Ridge Lily Zimmerman Irrevocable Legacy Trust dated December 27, 2016 803,083 402,282 400,802 424,040 41,411 Osprey Ridge William M. Murphy 2012 Trust 627,944 314,550 313,393 331,564 32,380 Osprey Ridge Daniel Zimmerman Irrevocable Legacy Trust dated December 27, 2016 426,689 213,737 212,951 225,298 22,002 Osprey Ridge Kate Murphy 327,756 164,180 163,576 173,060 16,901 Osprey Ridge Kerri Murphy 327,756 164,180 163,576 173,060 16,901 Osprey Ridge Patrick Murphy 327,756 164,180 163,576 173,060 16,901 Osprey Ridge Una Murphy 2012 Trust 277,094 138,803 138,292 146,310 14,288 Osprey Ridge Una Murphy 50,661 25,377 25,284 26,750 2,612 Osprey Ridge Dolphin Properties & Investments LLC 8,193,891 4,104,496 4,089,395 4,326,495 422,517 Osprey Ridge Dolphin Properties & Investments #1 LLC 8,193,891 4,104,496 4,089,395 4,326,495 422,517 Osprey Ridge Blackfin Properties & Investments LLLP 3,277,556 1,641,798 1,635,758 1,730,598 169,007 Osprey Ridge BRM Trust Holdings LLC 163,878 82,090 81,788 86,530 8,450 Osprey Ridge BRM Osprey Ridge ILP, LLC 16,223,904 8,126,901 8,097,003 8,566,460 836,583 Osprey Ridge BRM Osprey Ridge, LLC 163,878 82,090 81,788 86,530 8,450 Osprey Ridge BRM Advisors ILP Holdings, LLC 16,223,904 8,126,901 8,097,003 8,566,460 836,583 Osprey Ridge BRM Advisors, LLC 163,878 82,090 81,788 86,530 8,450 Osprey Ridge Osprey Ridge Apartments Ltd. 16,387,781 8,208,991 8,178,790 8,652,990 845,033 Palmetto Trace Gillis Investments #2 Ltd 3,743,585 1,419,785 2,323,800 1,487,765 116,091 Palmetto Trace Louis E. Vogt 2,478,029 939,813 1,538,216 984,811 76,845 Palmetto Trace Jefferson Scott Zimmerman 2,357,579 894,131 1,463,448 936,943 73,110 Palmetto Trace Lamplighter Investments LLC 1,871,793 709,893 1,161,900 743,883 58,045 Palmetto Trace William M. Murphy Revocable Trust 1,528,921 579,856 949,065 607,620 47,413 Palmetto Trace Daniel Edward Vogt Irrevocable Legacy Trust dated December 27, 2016 1,100,726 417,460 683,267 437,448 34,134 Palmetto Trace James Henry Vogt Irrevocable Legacy Trust dated December 27, 2016 1,100,726 417,460 683,267 437,448 34,134 Palmetto Trace Holly Zimmerman Irrevocable Legacy Trust dated December 27, 2016 917,272 347,883 569,389 364,540 28,445 Palmetto Trace Lily Zimmerman Irrevocable Legacy Trust dated December 27, 2016 917,272 347,883 569,389 364,540 28,445 Palmetto Trace William M. Murphy 2012 Trust 717,230 272,015 445,215 285,039 22,242 Palmetto Trace Daniel Zimmerman Irrevocable Legacy Trust dated December 27, 2016 487,359 184,835 302,524 193,685 15,113 Palmetto Trace Kate Murphy 374,359 141,979 232,380 148,777 11,609 Palmetto Trace Kerri Murphy 374,359 141,979 232,380 148,777 11,609 Palmetto Trace Patrick Murphy 374,359 141,979 232,380 148,777 11,609 Palmetto Trace Una Murphy 2012 Trust 316,494 120,033 196,461 125,780 9,815 Palmetto Trace Una Murphy 57,865 21,946 35,919 22,996 1,794 Palmetto Trace Dolphin Properties & Investments LLC 9,358,963 3,549,464 5,809,500 3,719,414 290,227 Palmetto Trace Dolphin Properties & Investments #1 LLC 9,358,963 3,549,464 5,809,500 3,719,414 290,227 Palmetto Trace Blackfin Properties & Investments LLLP 3,743,585 1,419,785 2,323,800 1,487,765 116,091 Palmetto Trace BRM Trust Holdings LLC 187,179 70,989 116,190 74,388 5,805 Palmetto Trace BRM Palmetto Dunes ILP, LLC 18,530,747 7,027,938 11,502,810 7,364,439 574,648 Palmetto Trace BRM Palmetto Dunes, LLC 187,179 70,989 116,190 74,388 5,805 Palmetto Trace BRM Advisors ILP Holdings, LLC 18,530,747 7,027,938 11,502,810 7,364,439 574,648 Palmetto Trace BRM Advisors, LLC 187,179 70,989 116,190 74,388 5,805 Palmetto Trace Palmetto Dunes Ltd. 18,717,927 7,098,927 11,619,000 7,438,827 580,453 Park Avenue Villas Gillis Investments #2 Ltd 1,740,305 504,751 1,235,555 575,864 2,316 Park Avenue Villas Louis E. Vogt 1,151,978 334,115 817,863 381,187 1,533

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