Subject: Mahonia/Stoneville Prepay
From: [email-masked]
To: [email-masked]
Cc: [email-masked]
Date: Fri, 22 Dec 2000 06:35:00 -0800 (PST)

Mary Lynne,

Just wanted to updated you on the current prepay that is scheduled to close 
next thursday (28th) with Chase and Fleet.  The prepay is anticipated as 
follows:

Total Funds      $330,000,000
Financing Expenses:
 Upfront to Banks $2,582,500
 Surety Bonds  $2,175,670
  Total Fees         $4,758,170

Anticipated Cash Flow    $325,241,830

The anticipated reserve related to ENE cost of funds versus the prepay is  
estimated to be ($130,501) while the timing differential between delivery 
date and settlement date (55 days) is estimated to be ($2,949,879).  Please 
let me know if you have any questions or need any additional information.  
Thanks again for your help.

Michael
31864