[1]

Facility fees have a variable component.

[2]

The Partnership may unilaterally elect to extend the financing for an additional five-year period through July 2024. If the Partnership exercises its extension option, Freddie Mac has the option to adjust components of the Facility Fees.

[3]

The Partnership may unilaterally elect to extend the financing for an additional five-year period through July 2025. If the Partnership exercises its extension option, Freddie Mac has the option to adjust components of the Facility Fees.

[4]

The M45 TEBS has an initial interest rate of 3.82% through July 31, 2023. From August 1, 2023 through the stated maturity date, the interest rate is 4.39%. These rates are inclusive of credit enhancement fees payable to Freddie Mac.

[5]

The variable TOB Financings are secured by the Partnership’s three PHC Certificates (see Note 7).

[6]

The following table summarizes the individual Term TOB and Term A/B Trust securitizations as of December 31, 2018: Outstanding Financing as of December 31, 2018, net Year Acquired Stated Maturity Fixed Interest Rate Fixed - Term TOB Securitization Live 929 $37,665,413 2014 October 2019 4.39% Pro Nova 1 9,010,000 2014 October 2019 4.01% Total Fixed Term TOB Financing\ Weighted Average Period End Rate $46,675,413 4.31% Term A/B Trusts Securitization Avistar at Wood Hollow - Series A $26,860,337 2017 February 2027 4.46% Avistar at Wilcrest - Series A 3,172,029 2017 February 2027 4.46% Avistar at Copperfield - Series A 8,422,855 2017 February 2027 4.46% Montecito at Williams Ranch - Series A 6,921,000 2018 May 2019 4.53% Vineyard Gardens - Series A 3,595,000 2018 May 2019 4.53% Total Fixed A/B Trust Financing\ Weighted Average Period End Rate $48,971,221 4.47%

[7]

The following table summarizes the individual Term TOB and Term A/B Trust securitizations as of December 31, 2017: Outstanding Financing as of December 31, 2017, net Year Acquired Stated Maturity Fixed Interest Rate Fixed - Term TOB Securitization Live 929 $37,777,036 2014 October 2019 4.39% Pro Nova 1 9,010,000 2014 October 2019 4.01% Total Fixed Term TOB Financing\ Weighted Average Period End Rate $46,787,036 4.31% Term A/B Trusts Securitization Willow Run $10,029,289 2016 September 2026 3.64% Columbia Gardens 10,172,857 2016 September 2026 3.64% Concord at Little York 11,315,538 2016 September 2026 3.64% Concord at Williamscrest 17,526,516 2016 September 2026 3.64% Concord at Gulfgate 16,154,584 2016 September 2026 3.64% Companion at Thornhill Apartment 9,608,733 2016 September 2026 3.64% Seasons at Simi Valley Apartments 3,675,323 2016 September 2026 3.64% Sycamore Walk 3,054,841 2016 September 2026 3.64% Decatur-Angle Apartments 21,276,657 2016 September 2026 3.64% Heights at 515 5,380,814 2016 September 2026 3.64% Crossing at 1415 6,344,418 2016 September 2026 3.64% Bruton Apartments 15,199,181 2016 September 2026 3.64% 15 West Apartments 8,326,731 2016 December 2026 3.64% San Vicente - Series A 3,112,976 2017 February 2022 3.89% San Vicente - Series B 1,545,930 2017 June 2018 3.76% Las Palmas - Series A 1,507,389 2017 February 2022 3.89% Las Palmas - Series B 1,494,702 2017 June 2018 3.76% The Village at Madera - Series A 2,746,364 2017 February 2022 3.89% The Village at Madera - Series B 1,455,570 2017 July 2018 3.76% Harmony Court Bakersfield - Series A 3,322,157 2017 February 2022 3.89% Summerhill - Series A 5,730,185 2017 February 2022 3.89% Summerhill - Series B 2,855,809 2017 July 2018 3.76% Courtyard - Series A 9,131,896 2017 February 2022 3.89% Courtyard - Series B 5,272,090 2017 July 2018 3.76% Seasons Lakewood - Series A 6,555,646 2017 February 2022 3.89% Seasons Lakewood - Series B 4,453,076 2017 August 2018 3.76% Seasons San Juan Capistrano - Series A 11,047,869 2017 February 2022 3.89% Seasons San Juan Capistrano - Series B 5,564,539 2017 August 2018 3.76% Avistar at Wood Hollow - Series A 26,838,000 2017 February 2027 4.46% Avistar at Wilcrest - Series A 3,168,088 2017 February 2027 4.46% Avistar at Copperfield - Series A 8,414,834 2017 February 2027 4.46% Oaks at Georgetown - Series A 11,087,478 2017 March 2022 3.89% Oaks at Georgetown - Series B 4,686,120 2017 August 2018 3.76% Harmony Terrace - Series A 6,199,955 2017 March 2022 3.89% Harmony Terrace - Series B 6,284,318 2017 August 2018 3.76% Village at River's Edge 8,993,092 2017 November 2027 4.52% Total Fixed A/B Trust Financing\ Weighted Average Period End Rate $279,533,565 3.85%