st Floor: $1,709,523 2nd Floor:$ 594,024 $2,303,547

Unit Lease Term Sq. Ft. Rate MonthlySAS Properties, LLC 10/01/14 - 11/30/24* 12,000 $9.50 $9,500 $114,000Annual Gross Income: $114,000Owner Expenses 2017: ($1,994)Net Operating Income- $112,006

Percentage Rent 2017 (paid in 2018)- $37,000

2017 Income: $149,006

VALUE: Base Rent Capitalized @ 7.75% $1,445,237.03

Percentage Rent Capitalized @ 14.0% $264,285.71

VALUE : $ 1,709,523

Rent Increases:

12/01/19-11/30/24 $10,925/month

Renewal Options:

12/01/24-11/30/29 $12,564/month12/01/29-11/30/34 $14,448/month

Income:

Unit Tenant Lease Term Sq Ft. Rate Monthly210 Epic Management Group 12/01/16-11/30/19 619 $14.66 $756.45 $9,077.40225 Vacant 548 $15.00 $685.00 $8,220.00215 Vacant 775 $13.01 $840.00 $10,080.00220 Imperial Woodworking 04/01/17-03/31/21 1,593 $15.00 $2,050.99 $24,611.88230 Colorado Creative Group 10/26/18-10/31/2021 965 $15.42 $1,240.00 $14,880.00235 Sandstone Media 04/01/13-03/31/20 828 $15.22 $1,081.50 $12,978.00

Annual Gross Income: 5328.00 $6,653.94 $79,847.28

Vacancy Factor @ 5% 5% ($3,992.36)

Adjusted Gross Income $75,854.92

Expenses 2017: ($12,430.00)

COA Dues 2017- (with reserve)- ($15,903.00)

Net Operating Income: $47,521.92

Value: Capitalized at 8.00% $594,023.95

VALUE: $ 594,024

Rent Increases:

Colorado Creative Group11/01/19-10/31/20 $1,265.00/month11/01/20-10/31/21 $1,290.00/month

Imperial Woodworking Sandstone Media4/01/18-3/31/19 $2,050.99/month 4/01/18-3/31/19 $1081.50/month

4/01/19-3/31/20 $2,112.52/month 4/01/19-3/31/20 $1,113.95/month

4/01/20-3/31/21 $2,175.89/month

TOTAL: $ 2,303,547

Mother Muffs-1st FloorIncome:

Meadow Muffins-2nd Floor as of May 2018

Annual Income

Annual Income

*OPTIONS TO EXTEND: Provided Tenant is not in default of any of the terms, covenants and conditions in this Lease contained, it shall have the option to extend the term of this Lease for 2 additional periods of five (5) years, (12/01/24-11/30/29; 12/01/29-11/30/34), provided that at least six (6) months prior to the expiration date of the then current term, Tenant notifies Landlord in writing of its election to exercise the next such option to extend.