Attached files
| file | filename |
|---|---|
| 8-K - TARRAGON CORP 8-K 6-3-2010 - TARRAGON CORP | form8-k.htm |
EXHIBIT 99.1
UNITED STATES BANKRUPTCY COURT
DISTRICT OF NEW JERSEY
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In re: Tarragon Corporation
|
Case No. 09-10555 (DHS)
|
|
Reporting Period: 4/1/10 through 4/30/10
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MONTHLY OPERATING REPORT
File with Court and submit copy to United States Trustee within 20 days after end of month
Submit copy of report to any official committee appointed in the case.
In preparing this monthly operating report, the Company has relied upon unaudited financial information and other analyses prepared by its accounting department. The information and other data contained herein is deemed to be materially accurate, and is subject to certain timing and reclassification adjustments as more information becomes available.
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief.
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/s/ Stephanie Buffington
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Date: May 28, 2010
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|
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Signature of Authorized Individual
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||
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Stephanie Buffington
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Director of Financial Reporting, Tarragon Corporation
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|
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Printed Name of Authorized Individual
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Title of Authorized Individual
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_______________
1Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.
- 1 -
TARRAGON CORPORATION
CONSOLIDATING BALANCE SHEET
April 30, 2010
Unaudited – For Internal Use Only
|
Tarragon
Corporation
|
Tarragon
Management
Inc
|
Tarragon South
Development
Corporation
|
Tarragon
Development
Corporation
|
Tarragon
Development
Company
LLC
|
||||||||||||||||
|
ASSETS
|
||||||||||||||||||||
|
REAL ESTATE INVENTORY
|
$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
|
LAND
|
- | |||||||||||||||||||
|
BUILDING IMPROVEMENTS
|
- | |||||||||||||||||||
|
LESS: ACCUMULATED DEPRECIATION
|
- | |||||||||||||||||||
|
NET RENTAL REAL ESTATE
|
- | - | - | - | - | |||||||||||||||
|
CASH AND CASH EQUIVALENTS
|
1,415,442 | |||||||||||||||||||
|
RESTRICTED CASH
|
260,751 | |||||||||||||||||||
|
GOODWILL
|
- | - | ||||||||||||||||||
|
ACCOUNTS RECEIVABLE BASE RENT
|
- | |||||||||||||||||||
|
MISCELLANEOUS ACCOUNTS RECEIVABLE
|
2,368,720 | 19,508 | ||||||||||||||||||
|
DUE FROM AFFILIATE
|
473,277,294 | |||||||||||||||||||
|
PREPAID EXPENSES
|
1,198,902 | |||||||||||||||||||
|
DEPOSITS AND OTHER ASSETS
|
2,353,625 | - | ||||||||||||||||||
|
INVESTMENTS IN SUBSIDIARIES
|
(297,256,778 | ) | (80,428,399 | ) | (86,477,388 | ) | (41,634,514 | ) | ||||||||||||
|
DEFERRED TAX ASSET
|
1,275,812 | |||||||||||||||||||
|
DEFERRED FINANCING EXPENSES
|
3,520,884 | |||||||||||||||||||
|
TOTAL ASSETS
|
$ | 188,344,652 | $ | 19,508 | $ | (80,428,399 | ) | $ | (86,477,388 | ) | $ | (41,634,514 | ) | |||||||
|
LIABILITIES AND SHAREHOLDERS' DEFICIT
|
||||||||||||||||||||
|
LIABILITIES:
|
||||||||||||||||||||
|
MORTGAGE NOTES PAYABLE
|
$ | 177,367,050 | $ | - | $ | - | $ | - | $ | - | ||||||||||
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ACCRUED INTEREST
|
11,150,259 | |||||||||||||||||||
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ACCRUED PROPERTY TAXES
|
- | |||||||||||||||||||
|
ACCOUNTS PAYABLE TRADE
|
2,287,724 | |||||||||||||||||||
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DUE TO AFFILIATE
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346,788,186 | |||||||||||||||||||
|
ACCOUNTS PAYABLE AND OTHER LIABILITIES
|
22,795,749 | 48,121 | ||||||||||||||||||
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TENANT SECURITY DEPOSITS
|
- | |||||||||||||||||||
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TOTAL LIABILITIES
|
560,388,968 | 48,121 | - | - | - | |||||||||||||||
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MINORITY INTEREST
|
- | |||||||||||||||||||
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SHAREHOLDERS' DEFICIT
|
(372,044,316 | ) | (28,614 | ) | (80,428,399 | ) | (86,477,388 | ) | (41,634,514 | ) | ||||||||||
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TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT
|
$ | 188,344,652 | $ | 19,508 | $ | (80,428,399 | ) | $ | (86,477,388 | ) | $ | (41,634,514 | ) | |||||||
| $ | (298,820,758 | ) |
RE of consolidated subs
|
|||||||||||||||||
| 1,563,980 |
Investment in Keane Stud
|
|||||||||||||||||||
| $ | (297,256,778 | ) | ||||||||||||||||||
- 2 -
TARRAGON CORPORATION
CONSOLIDATING BALANCE SHEET
April 30, 2010
(Continued)
Unaudited – For Internal Use Only
|
Block 88
Development,
LLC
|
Charleston
Tarragon
Manager, LLC
|
MSCP, Inc.
|
Tarragon
Stratford, Inc.
|
TDC Hanover
Holdings,
LLC
|
||||||||||||||||
|
ASSETS
|
||||||||||||||||||||
|
REAL ESTATE INVENTORY
|
$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
|
LAND
|
||||||||||||||||||||
|
BUILDING IMPROVEMENTS
|
||||||||||||||||||||
|
LESS: ACCUMULATED DEPRECIATION
|
||||||||||||||||||||
|
NET RENTAL REAL ESTATE
|
- | - | - | - | - | |||||||||||||||
|
CASH AND CASH EQUIVALENTS
|
||||||||||||||||||||
|
RESTRICTED CASH
|
||||||||||||||||||||
|
GOODWILL
|
||||||||||||||||||||
|
ACCOUNTS RECEIVABLE BASE RENT
|
||||||||||||||||||||
|
MISCELLANEOUS ACCOUNTS RECEIVABLE
|
||||||||||||||||||||
|
DUE FROM AFFILIATE
|
||||||||||||||||||||
|
PREPAID EXPENSES
|
||||||||||||||||||||
|
DEPOSITS AND OTHER ASSETS
|
||||||||||||||||||||
|
INVESTMENTS IN SUBSIDIARIES
|
(553,664 | ) | 14,746 | (3,243 | ) | (321,087 | ) | (18,304,530 | ) | |||||||||||
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DEFERRED TAX ASSET
|
||||||||||||||||||||
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DEFERRED FINANCING EXPENSES
|
||||||||||||||||||||
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TOTAL ASSETS
|
$ | (553,664 | ) | $ | 14,746 | $ | (3,243 | ) | $ | (321,087 | ) | $ | (18,304,530 | ) | ||||||
|
LIABILITIES AND SHAREHOLDERS' DEFICIT
|
||||||||||||||||||||
|
LIABILITIES:
|
||||||||||||||||||||
|
MORTGAGE NOTES PAYABLE
|
$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
|
ACCRUED INTEREST
|
||||||||||||||||||||
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ACCRUED PROPERTY TAXES
|
||||||||||||||||||||
|
ACCOUNTS PAYABLE TRADE
|
||||||||||||||||||||
|
DUE TO AFFILIATE
|
||||||||||||||||||||
|
ACCOUNTS PAYABLE AND OTHER LIABILITIES
|
||||||||||||||||||||
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TENANT SECURITY DEPOSITS
|
||||||||||||||||||||
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TOTAL LIABILITIES
|
- | - | - | - | - | |||||||||||||||
|
MINORITY INTEREST
|
||||||||||||||||||||
|
SHAREHOLDERS' DEFICIT
|
(553,664 | ) | 14,746 | (3,243 | ) | (321,087 | ) | (18,304,530 | ) | |||||||||||
|
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT
|
$ | (553,664 | ) | $ | 14,746 | $ | (3,243 | ) | $ | (321,087 | ) | $ | (18,304,530 | ) | ||||||
- 3 -
TARRAGON CORPORATION
CONSOLIDATING BALANCE SHEET
April 30, 2010
(Continued)
Unaudited – For Internal Use Only
|
Omni
Equities
Corporation
|
Fenwick
Plantation
Tarragon, LLC
|
Orion
Towers
Tarragon LLP
|
Bermuda
Island
Tarragon LLC
|
The Park
Development
East, LLC
|
||||||||||||||||
|
ASSETS
|
||||||||||||||||||||
|
REAL ESTATE INVENTORY
|
$ | - | $ | - | $ | 5,521,309 | $ | - | $ | 3,209,352 | ||||||||||
|
LAND
|
- | - | - | - | ||||||||||||||||
|
BUILDING IMPROVEMENTS
|
- | - | - | - | ||||||||||||||||
|
LESS: ACCUMULATED DEPRECIATION
|
- | - | - | - | ||||||||||||||||
|
NET RENTAL REAL ESTATE
|
- | - | - | - | - | |||||||||||||||
|
CASH AND CASH EQUIVALENTS
|
- | - | 30,877 | - | ||||||||||||||||
|
RESTRICTED CASH
|
- | - | 37,380 | - | ||||||||||||||||
|
GOODWILL
|
- | - | - | - | ||||||||||||||||
|
ACCOUNTS RECEIVABLE BASE RENT
|
- | - | - | - | ||||||||||||||||
|
MISCELLANEOUS ACCOUNTS RECEIVABLE
|
- | - | - | - | ||||||||||||||||
|
DUE FROM AFFILIATE
|
1,549,211 | - | - | - | ||||||||||||||||
|
PREPAID EXPENSES
|
- | - | - | - | ||||||||||||||||
|
DEPOSITS AND OTHER ASSETS
|
- | - | - | - | ||||||||||||||||
|
INVESTMENTS IN SUBSIDIARIES
|
52,733 | - | - | - | - | |||||||||||||||
|
DEFERRED TAX ASSET
|
- | - | - | - | ||||||||||||||||
|
DEFERRED FINANCING EXPENSES
|
- | - | - | - | ||||||||||||||||
|
TOTAL ASSETS
|
$ | 52,733 | $ | 1,549,211 | $ | 5,521,309 | $ | 68,257 | $ | 3,209,352 | ||||||||||
|
LIABILITIES AND SHAREHOLDERS' DEFICIT
|
||||||||||||||||||||
|
LIABILITIES:
|
||||||||||||||||||||
|
MORTGAGE NOTES PAYABLE
|
$ | - | $ | - | $ | 7,690,400 | $ | 12,907,535 | $ | 3,600,000 | ||||||||||
|
ACCRUED INTEREST
|
- | 1,061,551 | 596,072 | 499,675 | ||||||||||||||||
|
ACCRUED PROPERTY TAXES
|
- | 155,797 | - | 290,986 | ||||||||||||||||
|
ACCOUNTS PAYABLE TRADE
|
4,610 | 45,674 | 158,531 | - | ||||||||||||||||
|
DUE TO AFFILIATE
|
- | 37,956,760 | 3,460,350 | 9,438,574 | ||||||||||||||||
|
ACCOUNTS PAYABLE AND OTHER LIABILITIES
|
70,000 | 2,944,852 | 892,907 | 146,626 | ||||||||||||||||
|
TENANT SECURITY DEPOSITS
|
- | - | - | - | ||||||||||||||||
|
TOTAL LIABILITIES
|
- | 74,610 | 49,855,033 | 18,015,396 | 13,975,859 | |||||||||||||||
|
MINORITY INTEREST
|
- | - | - | - | ||||||||||||||||
|
SHAREHOLDERS' DEFICIT
|
52,733 | 1,474,600 | (44,333,724 | ) | (17,947,138 | ) | (10,766,508 | ) | ||||||||||||
|
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT
|
$ | 52,733 | $ | 1,549,211 | $ | 5,521,309 | $ | 68,257 | $ | 3,209,352 | ||||||||||
- 4 -
TARRAGON CORPORATION
CONSOLIDATING BALANCE SHEET
April 30, 2010
(Continued)
Unaudited – For Internal Use Only
|
The Park
Development
West, LLC
|
One Las
Olas, Ltd.
|
900 Monroe
Development,
LLC
|
Central
Square
Tarragon LLC
|
Tarragon
Edgewater
Associates,
LLC
|
||||||||||||||||
|
ASSETS
|
||||||||||||||||||||
|
REAL ESTATE INVENTORY
|
$ | - | $ | - | $ | 4,624,733 | $ | - | $ | 258,610 | ||||||||||
|
LAND
|
- | - | - | - | - | |||||||||||||||
|
BUILDING IMPROVEMENTS
|
- | - | - | - | - | |||||||||||||||
|
LESS: ACCUMULATED DEPRECIATION
|
- | - | - | - | - | |||||||||||||||
|
NET RENTAL REAL ESTATE
|
- | - | - | - | - | |||||||||||||||
|
CASH AND CASH EQUIVALENTS
|
- | - | - | - | - | |||||||||||||||
|
RESTRICTED CASH
|
- | 43,400 | - | - | - | |||||||||||||||
|
GOODWILL
|
- | - | - | - | - | |||||||||||||||
|
ACCOUNTS RECEIVABLE BASE RENT
|
- | - | - | - | - | |||||||||||||||
|
MISCELLANEOUS ACCOUNTS RECEIVABLE
|
- | - | - | - | - | |||||||||||||||
|
DUE FROM AFFILIATE
|
- | 5,177,760 | - | - | 8,844,445 | |||||||||||||||
|
PREPAID EXPENSES
|
- | 100,000 | - | - | - | |||||||||||||||
|
DEPOSITS AND OTHER ASSETS
|
- | - | 36 | - | 35 | |||||||||||||||
|
INVESTMENTS IN SUBSIDIARIES
|
- | - | - | - | - | |||||||||||||||
|
DEFERRED TAX ASSET
|
- | - | - | - | - | |||||||||||||||
|
DEFERRED FINANCING EXPENSES
|
- | - | - | - | - | |||||||||||||||
|
TOTAL ASSETS
|
$ | - | $ | 5,321,160 | $ | 4,624,769 | $ | - | $ | 9,103,090 | ||||||||||
|
LIABILITIES AND SHAREHOLDERS' DEFICIT
|
||||||||||||||||||||
|
LIABILITIES:
|
||||||||||||||||||||
|
MORTGAGE NOTES PAYABLE
|
$ | - | $ | - | $ | 3,900,000 | $ | - | $ | - | ||||||||||
|
ACCRUED INTEREST
|
- | - | 540,023 | - | - | |||||||||||||||
|
ACCRUED PROPERTY TAXES
|
- | - | 67,893 | - | 188,690 | |||||||||||||||
|
ACCOUNTS PAYABLE TRADE
|
95,473 | 17,683 | 8,502 | 4,875 | 10,679 | |||||||||||||||
|
DUE TO AFFILIATE
|
41,160,448 | - | 6,350,676 | 17,335,220 | - | |||||||||||||||
|
ACCOUNTS PAYABLE AND OTHER LIABILITIES
|
362,566 | 30,139 | 353,844 | - | 571,332 | |||||||||||||||
|
TENANT SECURITY DEPOSITS
|
- | - | - | - | - | |||||||||||||||
|
TOTAL LIABILITIES
|
41,618,487 | 47,822 | 11,220,938 | 17,340,095 | 770,702 | |||||||||||||||
|
MINORITY INTEREST
|
- | - | - | - | - | |||||||||||||||
|
SHAREHOLDERS' DEFICIT
|
(41,618,487 | ) | 5,273,338 | (6,596,169 | ) | (17,340,095 | ) | 8,332,388 | ||||||||||||
|
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT
|
$ | - | $ | 5,321,160 | $ | 4,624,769 | $ | - | $ | 9,103,090 | ||||||||||
- 5 -
TARRAGON CORPORATION
CONSOLIDATING BALANCE SHEET
April 30, 2010
(Continued)
Unaudited – For Internal Use Only
|
Orlando
Central Park
Tarragon,
L.L.C.
|
800 Madison
Street Urban
Renewal, LLC
|
Murfreesboro
Gateway
Properties,
LLC
|
Tarragon
Stonecrest
LLC
|
Vista Lakes
Tarragon,
LLC
|
||||||||||||||||
|
ASSETS
|
||||||||||||||||||||
|
REAL ESTATE INVENTORY
|
$ | - | $ | 78,962,404 | $ | - | $ | - | $ | - | ||||||||||
|
LAND
|
- | - | - | - | - | |||||||||||||||
|
BUILDING IMPROVEMENTS
|
- | - | - | - | - | |||||||||||||||
|
LESS: ACCUMULATED DEPRECIATION
|
- | - | - | - | - | |||||||||||||||
|
NET RENTAL REAL ESTATE
|
- | - | - | - | - | |||||||||||||||
|
CASH AND CASH EQUIVALENTS
|
- | 133,548 | - | - | - | |||||||||||||||
|
RESTRICTED CASH
|
- | 757,092 | - | - | - | |||||||||||||||
|
GOODWILL
|
- | - | - | - | - | |||||||||||||||
|
ACCOUNTS RECEIVABLE BASE RENT
|
- | 21,548 | - | - | - | |||||||||||||||
|
MISCELLANEOUS ACCOUNTS RECEIVABLE
|
- | - | - | - | - | |||||||||||||||
|
DUE FROM AFFILIATE
|
- | - | - | - | 27,177,671 | |||||||||||||||
|
PREPAID EXPENSES
|
- | 24,790 | - | - | - | |||||||||||||||
|
DEPOSITS AND OTHER ASSETS
|
- | 9,248 | - | - | - | |||||||||||||||
|
INVESTMENTS IN SUBSIDIARIES
|
- | - | - | - | - | |||||||||||||||
|
DEFERRED TAX ASSET
|
- | - | - | - | - | |||||||||||||||
|
DEFERRED FINANCING EXPENSES
|
- | 50,000 | - | - | - | |||||||||||||||
|
TOTAL ASSETS
|
$ | - | $ | 79,958,629 | $ | - | $ | - | $ | 27,177,671 | ||||||||||
|
LIABILITIES AND SHAREHOLDERS' DEFICIT
|
||||||||||||||||||||
|
LIABILITIES:
|
||||||||||||||||||||
|
MORTGAGE NOTES PAYABLE
|
$ | 1,105,918 | $ | 71,051,873 | $ | - | $ | - | $ | - | ||||||||||
|
ACCRUED INTEREST
|
405,349 | 101,242 | - | - | - | |||||||||||||||
|
ACCRUED PROPERTY TAXES
|
- | 566,900 | - | - | - | |||||||||||||||
|
ACCOUNTS PAYABLE TRADE
|
38,481 | 479,420 | 86,986 | 124,297 | - | |||||||||||||||
|
DUE TO AFFILIATE
|
2,604,138 | 7,042,074 | 7,793,324 | 5,045,152 | - | |||||||||||||||
|
ACCOUNTS PAYABLE AND OTHER LIABILITIES
|
403,220 | 1,065,188 | 95,203 | 161,297 | - | |||||||||||||||
|
TENANT SECURITY DEPOSITS
|
- | 205,595 | - | - | - | |||||||||||||||
|
TOTAL LIABILITIES
|
4,557,106 | 80,512,293 | 7,975,512 | 5,330,745 | - | |||||||||||||||
|
MINORITY INTEREST
|
- | - | - | - | - | |||||||||||||||
|
SHAREHOLDERS' DEFICIT
|
(4,557,106 | ) | (553,664 | ) | (7,975,512 | ) | (5,330,745 | ) | 27,177,671 | |||||||||||
|
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT
|
$ | - | $ | 79,958,629 | $ | - | $ | - | $ | 27,177,671 | ||||||||||
- 6 -
TARRAGON CORPORATION
CONSOLIDATING BALANCE SHEET
April 30, 2010
(Continued)
Unaudited – For Internal Use Only
|
Non Filing
Entities
Combined
|
Eliminations
|
Total
|
||||||||||
|
ASSETS
|
||||||||||||
|
REAL ESTATE INVENTORY
|
$ | 26,186,065 | $ | 6,077,031 | $ | 124,839,503 | ||||||
|
LAND
|
69,288,589 | - | 69,288,589 | |||||||||
|
BUILDING IMPROVEMENTS
|
426,556,803 | - | 426,556,803 | |||||||||
|
LESS: ACCUMULATED DEPRECIATION
|
(130,201,751 | ) | - | (130,201,751 | ) | |||||||
|
NET RENTAL REAL ESTATE
|
365,643,641 | - | 365,643,641 | |||||||||
|
CASH AND CASH EQUIVALENTS
|
509,515 | - | 2,089,382 | |||||||||
|
RESTRICTED CASH
|
11,316,569 | - | 12,415,193 | |||||||||
|
GOODWILL
|
- | - | - | |||||||||
|
ACCOUNTS RECEIVABLE BASE RENT
|
225,644 | - | 247,192 | |||||||||
|
MISCELLANEOUS ACCOUNTS RECEIVABLE
|
133,292 | (19,508 | ) | 2,502,012 | ||||||||
|
DUE FROM AFFILIATE
|
101,989,414 | (618,015,794 | ) | - | ||||||||
|
PREPAID EXPENSES
|
1,427,079 | - | 2,680,771 | |||||||||
|
DEPOSITS AND OTHER ASSETS
|
601,631 | - | 2,964,575 | |||||||||
|
INVESTMENTS IN SUBSIDIARIES
|
- | 526,471,039 | 1,558,915 | |||||||||
|
DEFERRED TAX ASSET
|
- | - | 1,275,812 | |||||||||
|
DEFERRED FINANCING EXPENSES
|
3,660,773 | - | 7,231,657 | |||||||||
|
TOTAL ASSETS
|
$ | 511,693,623 | $ | (85,487,232 | ) | $ | 523,448,653 | |||||
|
LIABILITIES AND SHAREHOLDERS' DEFICIT
|
||||||||||||
|
LIABILITIES:
|
||||||||||||
|
MORTGAGE NOTES PAYABLE
|
$ | 544,305,772 | $ | - | $ | 821,928,548 | ||||||
|
ACCRUED INTEREST
|
7,377,529 | - | 21,731,700 | |||||||||
|
ACCRUED PROPERTY TAXES
|
2,118,079 | - | 3,388,344 | |||||||||
|
ACCOUNTS PAYABLE TRADE
|
666,221 | - | 4,029,158 | |||||||||
|
DUE TO AFFILIATE
|
75,211,456 | (560,186,359 | ) | - | ||||||||
|
ACCOUNTS PAYABLE AND OTHER LIABILITIES
|
12,321,179 | (54,245 | ) | 42,207,979 | ||||||||
|
TENANT SECURITY DEPOSITS
|
1,995,521 | 6,123 | 2,207,240 | |||||||||
|
TOTAL LIABILITIES
|
643,995,757 | (560,234,480 | ) | 895,492,967 | ||||||||
|
MINORITY INTEREST
|
- | 12,948,459 | 12,948,459 | |||||||||
|
SHAREHOLDERS' DEFICIT
|
(132,302,134 | ) | 474,747,248 | (372,044,315 | ) | |||||||
|
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT
|
$ | 511,693,623 | $ | (85,487,232 | ) | $ | 523,448,653 | |||||
- 7 -
TARRAGON CORPORATION
CONSOLIDATING INCOME STATEMENT
For the Sixteen Months Ended April 30, 2010
Unaudited - For Internal Use Only
|
Tarragon
Corporation
|
Tarragon
Management Inc
|
Tarragon South
Development
Corporation
|
Tarragon
Development
Corporation
|
Tarragon
Development
Company LLC
|
||||||||||||||||
|
Revenue:
|
||||||||||||||||||||
|
Sales
|
$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
|
Rental and other
|
151,616 | 1,235,794 | ||||||||||||||||||
|
Total revenue
|
151,616 | 1,235,794 | - | - | - | |||||||||||||||
|
Expenses:
|
||||||||||||||||||||
|
Cost of sales
|
- | - | ||||||||||||||||||
|
Property operations
|
(535,586 | ) | - | |||||||||||||||||
|
Depreciation
|
- | 34,544 | ||||||||||||||||||
|
Provision for losses
|
1,700,000 | - | ||||||||||||||||||
|
Impairment charges
|
- | - | ||||||||||||||||||
|
General and administrative
|
30,885,513 | 2,791,735 | ||||||||||||||||||
|
Total expenses
|
32,049,927 | 2,826,279 | - | - | - | |||||||||||||||
|
Other income and (expenses):
|
||||||||||||||||||||
|
Equity in loss of subsidiaries
|
(85,922,438 | ) | - | |||||||||||||||||
|
Minority interest income of partnerships and joint ventures
|
- | - | ||||||||||||||||||
|
Interest income
|
295,662 | - | ||||||||||||||||||
|
Interest expense
|
(12,239,282 | ) | - | |||||||||||||||||
|
Gain (loss) on extinguishment of debt
|
- | - | ||||||||||||||||||
|
Gain (loss) on debt restructuring
|
- | - | ||||||||||||||||||
|
Gain (loss) on transfer of assets
|
43,500 | - | ||||||||||||||||||
|
Gain (loss) on disposition of assets
|
(4,497,534 | ) | ||||||||||||||||||
|
Gain (loss) on sale of real estate
|
(1,874,917 | ) | - | |||||||||||||||||
|
Litigation, settlements, and other claims
|
3,754,122 | - | ||||||||||||||||||
|
Total other income and (expenses)
|
(100,440,886 | ) | - | - | - | - | ||||||||||||||
|
Income tax expense
|
(56,402 | ) | - | - | - | - | ||||||||||||||
|
Discontinued operations
|
- | - | - | - | - | |||||||||||||||
|
Net income (loss)
|
$ | (132,395,600 | ) | $ | (1,590,485 | ) | $ | - | $ | - | $ | - | ||||||||
- 8 -
TARRAGON CORPORATION
CONSOLIDATING INCOME STATEMENT
For the Sixteen Months Ended April 30, 2010
(Continued)
Unaudited - For Internal Use Only
|
Block 88
Development,
LLC
|
Charleston
Tarragon
Manager, LLC
|
MSCP, Inc.
|
Tarragon
Stratford, Inc.
|
TDC Hanover
Holdings, LLC
|
||||||||||||||||
|
Revenue:
|
||||||||||||||||||||
|
Sales
|
$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
|
Rental and other
|
||||||||||||||||||||
|
Total revenue
|
- | - | - | - | - | |||||||||||||||
|
Expenses:
|
||||||||||||||||||||
|
Cost of sales
|
||||||||||||||||||||
|
Property operations
|
||||||||||||||||||||
|
Depreciation
|
||||||||||||||||||||
|
Provision for losses
|
||||||||||||||||||||
|
Impairment charges
|
||||||||||||||||||||
|
General and administrative
|
||||||||||||||||||||
|
Total expenses
|
- | - | - | - | - | |||||||||||||||
|
Other income and (expenses):
|
||||||||||||||||||||
|
Equity in loss of subsidiaries
|
||||||||||||||||||||
|
Minority interest income of partnerships and joint ventures
|
||||||||||||||||||||
|
Interest income
|
||||||||||||||||||||
|
Interest expense
|
||||||||||||||||||||
|
Gain (loss) on extinguishment of debt
|
||||||||||||||||||||
|
Gain (loss) on debt restructuring
|
||||||||||||||||||||
|
Gain (loss) on transfer of assets
|
||||||||||||||||||||
|
Gain (loss) on disposition of assets
|
||||||||||||||||||||
|
Gain (loss) on sale of real estate
|
||||||||||||||||||||
|
Litigation, settlements, and other claims
|
||||||||||||||||||||
|
Total other income and (expenses)
|
- | - | - | - | - | |||||||||||||||
|
Income tax expense
|
- | - | - | - | - | |||||||||||||||
|
Discontinued operations
|
- | - | - | - | - | |||||||||||||||
|
Net income (loss)
|
$ | - | $ | - | $ | - | $ | - | $ | - | ||||||||||
- 9 -
TARRAGON CORPORATION
CONSOLIDATING INCOME STATEMENT
For the Sixteen Months Ended April 30, 2010
(Continued)
Unaudited - For Internal Use Only
|
Omni
Equities
Corporation
|
Fenwick
Plantation
Tarragon, LLC
|
Orion Towers
Tarragon, LLP
|
Bermuda
Island
Tarragon LLC
|
The Park
Development
East, LLC
|
||||||||||||||||
|
Revenue:
|
||||||||||||||||||||
|
Sales
|
$ | - | $ | 89,900 | $ | - | $ | - | $ | - | ||||||||||
|
Rental and other
|
- | - | 4,353,239 | - | ||||||||||||||||
|
Total revenue
|
- | 89,900 | - | 4,353,239 | - | |||||||||||||||
|
Expenses:
|
||||||||||||||||||||
|
Cost of sales
|
84,166 | - | - | - | ||||||||||||||||
|
Property operations
|
26,793 | 174,694 | 2,236,349 | 292,349 | ||||||||||||||||
|
Depreciation
|
- | - | 732,415 | - | ||||||||||||||||
|
Provision for losses
|
- | - | - | - | ||||||||||||||||
|
Impairment charges
|
- | 12,922,862 | - | - | ||||||||||||||||
|
General and administrative
|
3,174 | 66,375 | 22,428 | 692,586 | ||||||||||||||||
|
Total expenses
|
- | 114,133 | 13,163,931 | 2,991,193 | 984,934 | |||||||||||||||
|
Other income and (expenses):
|
||||||||||||||||||||
|
Equity in loss of subsidiaries
|
- | - | - | - | ||||||||||||||||
|
Minority interest income of partnerships and joint ventures
|
- | - | - | - | ||||||||||||||||
|
Interest income
|
- | - | - | - | ||||||||||||||||
|
Interest expense
|
- | (862,846 | ) | (1,724,741 | ) | (495,930 | ) | |||||||||||||
|
Gain (loss) on extinguishment of debt
|
- | - | - | - | ||||||||||||||||
|
Gain (loss) on debt restructuring
|
- | - | - | - | ||||||||||||||||
|
Gain (loss) on transfer of assets
|
- | - | - | - | ||||||||||||||||
|
Gain (loss) on disposition of assets
|
- | - | 202,876 | - | ||||||||||||||||
|
Gain (loss) on sale of real estate
|
- | - | - | - | ||||||||||||||||
|
Litigation, settlements, and other claims
|
- | - | - | - | ||||||||||||||||
|
Total other income and (expenses)
|
- | - | (862,846 | ) | (1,521,865 | ) | (495,930 | ) | ||||||||||||
|
Income tax expense
|
- | - | - | - | - | |||||||||||||||
|
Discontinued operations
|
- | - | - | - | - | |||||||||||||||
|
Net income (loss)
|
$ | - | $ | (24,233 | ) | $ | (14,026,777 | ) | $ | (159,819 | ) | $ | (1,480,865 | ) | ||||||
- 10 -
TARRAGON CORPORATION
CONSOLIDATING INCOME STATEMENT
For the Sixteen Months Ended April 30, 2010
(Continued)
Unaudited - For Internal Use Only
|
The Park
Development
West, LLC
|
One Las
Olas Ltd.
|
900 Monroe
Development,
LLC
|
Central
Square
Tarragon LLC
|
Tarragon
Edgewater
Associates,
LLC
|
||||||||||||||||
|
Revenue:
|
||||||||||||||||||||
|
Sales
|
$ | 18,924,400 | $ | 6,634,621 | $ | - | $ | - | $ | 891,477 | ||||||||||
|
Rental and other
|
- | - | - | 5,709 | - | |||||||||||||||
|
Total revenue
|
18,924,400 | 6,634,621 | - | 5,709 | 891,477 | |||||||||||||||
|
Expenses:
|
||||||||||||||||||||
|
Cost of sales
|
17,951,028 | 8,048,718 | - | - | 1,014,461 | |||||||||||||||
|
Property operations
|
109,128 | 245,038 | 31,682 | 289,799 | (111,767 | ) | ||||||||||||||
|
Depreciation
|
- | - | - | - | - | |||||||||||||||
|
Provision for losses
|
- | - | - | - | - | |||||||||||||||
|
Impairment charges
|
- | - | 6,366,255 | - | - | |||||||||||||||
|
General and administrative
|
93,742 | 284,985 | 8,753 | 87,275 | 31,205 | |||||||||||||||
|
Total expenses
|
18,153,897 | 8,578,741 | 6,406,690 | 377,074 | 933,898 | |||||||||||||||
|
Other income and (expenses):
|
||||||||||||||||||||
|
Equity in loss of subsidiaries
|
- | - | - | - | - | |||||||||||||||
|
Minority interest income of partnerships and joint ventures
|
- | - | - | - | - | |||||||||||||||
|
Interest income
|
- | - | - | - | - | |||||||||||||||
|
Interest expense
|
43,634 | (304,225 | ) | (189,479 | ) | (2,521,828 | ) | - | ||||||||||||
|
Gain (loss) on extinguishment of debt
|
613,681 | - | - | - | - | |||||||||||||||
|
Gain (loss) on debt restructuring
|
- | 2,279,871 | - | (302,569 | ) | - | ||||||||||||||
|
Gain (loss) on transfer of assets
|
- | - | - | - | - | |||||||||||||||
|
Gain (loss) on disposition of assets
|
- | - | - | - | - | |||||||||||||||
|
Gain (loss) on sale of real estate
|
- | - | - | - | - | |||||||||||||||
|
Litigation, settlements, and other claims
|
- | - | - | - | - | |||||||||||||||
|
Total other income and (expenses)
|
657,315 | 1,975,647 | (189,479 | ) | (2,824,397 | ) | - | |||||||||||||
|
Income tax expense
|
- | - | - | - | - | |||||||||||||||
|
Discontinued operations
|
- | - | - | - | - | |||||||||||||||
|
Net income (loss)
|
$ | 1,427,818 | $ | 31,526 | $ | (6,596,169 | ) | $ | (3,195,763 | ) | $ | (42,422 | ) | |||||||
- 11 -
TARRAGON CORPORATION
CONSOLIDATING INCOME STATEMENT
For the Sixteen Months Ended April 30, 2010
(Continued)
Unaudited - For Internal Use Only
|
Orlando
Central Park
Tarragon,
L.L.C.
|
800 Madison
Street Urban
Renewal, LLC
|
Murfreesboro
Gateway
Properties, LLC
|
Tarragon
Stonecrest
LLC
|
|||||||||||||
|
Revenue:
|
||||||||||||||||
|
Sales
|
$ | - | $ | - | $ | - | $ | - | ||||||||
|
Rental and other
|
106,227 | 5,208,794 | 1,457,334 | 88,437 | ||||||||||||
|
Total revenue
|
106,227 | 5,208,794 | 1,457,334 | 88,437 | ||||||||||||
|
Expenses:
|
||||||||||||||||
|
Cost of sales
|
- | - | - | - | ||||||||||||
|
Property operations
|
323,005 | 2,659,660 | 533,524 | 48,600 | ||||||||||||
|
Depreciation
|
72,479 | - | 311,286 | 1,007 | ||||||||||||
|
Provision for losses
|
- | - | - | - | ||||||||||||
|
Impairment charges
|
- | - | - | - | ||||||||||||
|
General and administrative
|
11,050 | 220,383 | 12,354 | 76,134 | ||||||||||||
|
Total expenses
|
406,535 | 2,880,043 | 857,164 | 125,741 | ||||||||||||
|
Other income and (expenses):
|
||||||||||||||||
|
Equity in loss of subsidiaries
|
- | - | - | - | ||||||||||||
|
Minority interest income of partnerships and joint ventures
|
- | - | - | - | ||||||||||||
|
Interest income
|
- | - | - | - | ||||||||||||
|
Interest expense
|
(283,886 | ) | (2,876,174 | ) | (764,347 | ) | (184,453 | ) | ||||||||
|
Gain (loss) on extinguishment of debt
|
- | - | (8,992 | ) | - | |||||||||||
|
Gain (loss) on debt restructuring
|
- | - | - | - | ||||||||||||
|
Gain (loss) on transfer of assets
|
- | - | (3,734,857 | ) | 1,035,083 | |||||||||||
|
Gain (loss) on disposition of assets
|
- | - | - | - | ||||||||||||
|
Gain (loss) on sale of real estate
|
(741,820 | ) | - | - | - | |||||||||||
|
Litigation, settlements, and other claims
|
- | - | - | - | ||||||||||||
|
Total other income and (expenses)
|
(1,025,706 | ) | (2,876,174 | ) | (4,508,196 | ) | 850,630 | |||||||||
|
Income tax expense
|
- | - | - | - | ||||||||||||
|
Discontinued operations
|
- | - | - | - | ||||||||||||
|
Net income (loss)
|
$ | (1,326,014 | ) | $ | (547,424 | ) | $ | (3,908,026 | ) | $ | 813,326 | |||||
- 12 -
TARRAGON CORPORATION
CONSOLIDATING INCOME STATEMENT
For the Sixteen Months Ended April 30, 2010
(Continued)
Unaudited - For Internal Use Only
|
Non-Filing
Entities
Combined
|
Eliminations
|
Disc Ops
Reclass
|
Total
|
|||||||||||||
|
Revenue:
|
||||||||||||||||
|
Sales
|
$ | 5,842,740 | $ | - | $ | - | $ | 32,383,138 | ||||||||
|
Rental and other
|
97,943,701 | (1,168,201 | ) | (42,862 | ) | 109,339,788 | ||||||||||
|
Total revenue
|
103,786,441 | (1,168,201 | ) | (42,862 | ) | 141,722,925 | ||||||||||
|
Expenses:
|
||||||||||||||||
|
Cost of sales
|
4,200,786 | - | - | 31,299,159 | ||||||||||||
|
Property operations
|
52,266,696 | 2 | (45,458 | ) | 58,544,508 | |||||||||||
|
Depreciation
|
17,530,035 | (34,544 | ) | - | 18,647,222 | |||||||||||
|
Provision for losses
|
- | - | - | 1,700,000 | ||||||||||||
|
Impairment charges
|
58,426,755 | - | - | 77,715,872 | ||||||||||||
|
General and administrative
|
2,402,446 | 1,582,816 | - | 39,272,955 | ||||||||||||
|
Total expenses
|
134,826,718 | 1,548,274 | (45,458 | ) | 222,179,716 | |||||||||||
|
Other income and (expenses):
|
||||||||||||||||
|
Equity in loss of subsidiaries
|
- | 78,805,865 | - | (7,116,573 | ) | |||||||||||
|
Minority interest income of partnerships and joint ventures
|
788,615 | - | - | 788,615 | ||||||||||||
|
Interest income
|
117 | - | - | 295,780 | ||||||||||||
|
Interest expense
|
(45,611,341 | ) | - | 11,872 | (68,003,026 | ) | ||||||||||
|
Gain (loss) on extinguishment of debt
|
(136,454 | ) | - | 123,888 | 592,123 | |||||||||||
|
Gain (loss) on debt restructuring
|
18,298,913 | - | - | 20,276,216 | ||||||||||||
|
Gain (loss) on transfer of assets
|
930,430 | - | - | (1,725,845 | ) | |||||||||||
|
Gain (loss) on disposition of assets
|
- | - | - | (4,294,658 | ) | |||||||||||
|
Gain (loss) on sale of real estate
|
1,462,886 | - | (1,462,885 | ) | (2,616,737 | ) | ||||||||||
|
Litigation, settlements, and other claims
|
10,000 | - | - | 3,764,122 | ||||||||||||
|
Total other income and (expenses)
|
(24,256,835 | ) | 78,805,865 | (1,327,125 | ) | (58,039,983 | ) | |||||||||
|
Income tax expense
|
- | - | - | (56,402 | ) | |||||||||||
|
Discontinued operations
|
- | - | 1,324,529 | 1,324,529 | ||||||||||||
|
Net income (loss)
|
$ | (55,297,112 | ) | $ | 76,089,391 | $ | - | $ | (142,228,647 | ) | ||||||
- 13 -
TARRAGON CORPORATION
CASH FLOW FOR APRIL 2010
|
Cash Balance
|
Payroll
|
Intercompany
|
Cash Balance
|
|||||||||||||||||||||
|
3/31/10
|
Receipts
|
Disbursements
|
Disbursements
|
Transfers
|
4/30/10
|
|||||||||||||||||||
|
Tarragon Corporation
|
$ | 2,211,721 | $ | 495,247 | $ | (1,222,908 | ) | $ | (854,298 | ) | $ | 785,680 | $ | 1,415,442 | ||||||||||
|
Tarragon Management Inc.
|
- | - | (7,033 | ) | - | 7,033 | - | |||||||||||||||||
|
Filing entities:
|
||||||||||||||||||||||||
|
Rentals:
|
||||||||||||||||||||||||
|
Aldridge Apartments
|
- | - | - | - | - | - | ||||||||||||||||||
|
Stonecrest Apartments
|
- | - | - | - | - | - | ||||||||||||||||||
|
Orlando Central Park
|
- | - | - | - | - | - | ||||||||||||||||||
|
Bermuda Island
|
81,859 | 2,635 | (26,226 | ) | - | (27,391 | ) | 30,877 | ||||||||||||||||
|
800 Madison
|
276,081 | 541,981 | (572,211 | ) | - | (112,303 | ) | 133,548 | ||||||||||||||||
|
Condo developments:
|
||||||||||||||||||||||||
|
One Hudson Park
|
- | - | - | - | - | - | ||||||||||||||||||
|
Las Olas River House
|
75 | - | (75 | ) | - | - | - | |||||||||||||||||
|
Twelve Oaks at Fenwick Plantation
|
- | - | - | - | - | - | ||||||||||||||||||
|
Trio West
|
- | - | - | - | - | - | ||||||||||||||||||
|
|
||||||||||||||||||||||||
|
Land:
|
||||||||||||||||||||||||
|
Central Square
|
75 | - | (75 | ) | - | - | - | |||||||||||||||||
|
Central Park at Lee Vista
|
- | - | - | - | - | - | ||||||||||||||||||
|
Trio East
|
- | - | - | - | - | - | ||||||||||||||||||
|
River Oaks
|
- | - | - | - | - | - | ||||||||||||||||||
|
900 Monroe
|
- | - | - | - | - | - | ||||||||||||||||||
|
|
||||||||||||||||||||||||
|
Non-filing entities and eliminations
|
543,218 | 1,054,886 | (435,570 | ) | - | (653,019 | ) | 509,515 | ||||||||||||||||
|
Total Company
|
$ | 3,113,029 | $ | 2,094,749 | $ | (2,264,098 | ) | $ | (854,298 | ) | $ | - | $ | 2,089,382 | ||||||||||
- 14 -
TARRAGON CORPORATION
ROLLFORWARD OF INTERCOMPANY ACCOUNTS
For the Month Ended April 30, 2010
|
TARRAGON CORP BOOKS
|
PROPERTY LEVEL BOOKS
|
|||||||||||||||||||||||||||||||||||||||
|
FUND LEVEL ACCOUNTS
|
PROPERTY LEVEL ACCOUNTS
|
|||||||||||||||||||||||||||||||||||||||
|
3/31/2010
|
|
4/30/2010
|
3/31/2010
|
4/30/2010
|
3/31/2010
|
4/30/2010
|
||||||||||||||||||||||||||||||||||
|
IC
|
IC
|
IC
|
IC
|
Timing
|
Timing
|
|||||||||||||||||||||||||||||||||||
|
Balance
|
Debits
|
Credits
|
Balance
|
Balance
|
Debits
|
Credits
|
Balance
|
Diff
|
Diff
|
|||||||||||||||||||||||||||||||
|
CONSOLIDATED PROPERTIES
|
||||||||||||||||||||||||||||||||||||||||
|
Filing Entities
|
||||||||||||||||||||||||||||||||||||||||
|
Las Olas River House
|
$ | 12,253,796 | $ | 650 | $ | 650 | $ | 12,253,796 | $ | (12,255,487 | ) | $ | 0 | $ | 0 | (12,255,487 | ) | $ | (1,692 | ) | $ | (1,692 | ) | |||||||||||||||||
|
One Hudson Park
|
(8,856,199 | ) | 12,079 | 325 | (8,844,445 | ) | 8,856,199 | 0 | 11,754 | 8,844,446 | 1 | 1 | ||||||||||||||||||||||||||||
|
Orlando Central Park
|
2,596,955 | 7,183 | 325 | 2,603,813 | (2,596,955 | ) | 0 | 7,183 | (2,604,138 | ) | 0 | (325 | ) | |||||||||||||||||||||||||||
|
Block 88-TRI
|
13,431,196 | 970 | 27,431 | 13,404,735 | (13,431,196 | ) | 27,431 | 970 | (13,404,735 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Twelve Oaks at Fenwick Plantation
|
(2,571,661 | ) | 2,519 | 650 | (2,569,791 | ) | 2,571,662 | 0 | 1,869 | 2,569,792 | 1 | 1 | ||||||||||||||||||||||||||||
|
Trio East
|
9,438,574 | 325 | 325 | 9,438,574 | (9,438,574 | ) | 0 | 0 | (9,438,574 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Trio West
|
41,133,967 | 15,057 | 325 | 41,148,699 | (41,145,717 | ) | 0 | 14,732 | (41,160,448 | ) | (11,750 | ) | (11,750 | ) | ||||||||||||||||||||||||||
|
Aldridge Apartments
|
7,823,569 | 3,481 | 39,270 | 7,787,780 | (7,823,913 | ) | 38,945 | 3,481 | (7,788,449 | ) | (344 | ) | (669 | ) | ||||||||||||||||||||||||||
|
Stonecrest Apartments
|
5,043,853 | 325 | 325 | 5,043,853 | (5,044,177 | ) | 0 | 325 | (5,044,502 | ) | (324 | ) | (649 | ) | ||||||||||||||||||||||||||
|
Central Square
|
17,335,220 | 325 | 325 | 17,335,220 | (17,335,220 | ) | 0 | 0 | (17,335,220 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Orion Towers
|
44,419,225 | 325 | 325 | 44,419,225 | (44,419,224 | ) | 0 | 0 | (44,419,224 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Bermuda Island
|
3,469,349 | 0 | 8,999 | 3,460,350 | (3,469,349 | ) | 8,999 | 0 | (3,460,350 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
900 Monroe
|
8,029,190 | 325 | 325 | 8,029,190 | (8,027,217 | ) | 0 | 0 | (8,027,217 | ) | 1,973 | 1,973 | ||||||||||||||||||||||||||||
- 15 -
TARRAGON CORPORATION
ROLLFORWARD OF INTERCOMPANY ACCOUNTS
For the Month Ended April 30, 2010
(Continued)
|
TARRAGON CORP BOOKS
|
PROPERTY LEVEL BOOKS
|
|||||||||||||||||||||||||||||||||||||||
|
FUND LEVEL ACCOUNTS
|
PROPERTY LEVEL ACCOUNTS
|
|||||||||||||||||||||||||||||||||||||||
|
3/31/2010
|
4/30/2010
|
3/31/2010
|
4/30/2010
|
3/31/2010
|
4/30/2010
|
|||||||||||||||||||||||||||||||||||
|
IC
|
IC
|
IC
|
IC
|
Timing
|
Timing
|
|||||||||||||||||||||||||||||||||||
|
Balance
|
Debits
|
Credits
|
Balance
|
Balance
|
Debits
|
Credits
|
Balance
|
Diff
|
Diff
|
|||||||||||||||||||||||||||||||
|
CONSOLIDATED PROPERTIES
|
||||||||||||||||||||||||||||||||||||||||
|
Non Filing Entities
|
||||||||||||||||||||||||||||||||||||||||
|
Fund Level
|
$ | 38,681 | $ | 975 | $ | 0 | $ | 39,656 | $ | 3,251 | $ | 0 | $ | 0 | $ | 3,251 | $ | 41,932 | $ | 42,907 | ||||||||||||||||||||
|
Topside Property
|
1,336,773 | 2,182,825 | 2,566,446 | 953,152 | 0 | 0 | 0 | 0 | 1,336,773 | 953,152 | ||||||||||||||||||||||||||||||
|
Sold Property Expenses
|
1,013,948 | 0 | 1,588 | 1,012,361 | (1,013,948 | ) | 1,588 | 0 | (1,012,361 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
301 Route 17 (aka Meadows)
|
(52,076 | ) | 0 | 0 | (52,076 | ) | 10,794 | 0 | 0 | 10,794 | (41,282 | ) | (41,282 | ) | ||||||||||||||||||||||||||
|
Ansonia
|
64,376,429 | 4,706,948 | 3,350,498 | 65,732,879 | (15,984,781 | ) | 5,503,430 | 4,706,948 | (15,188,299 | ) | 48,391,648 | 50,544,581 | ||||||||||||||||||||||||||||
|
Ansonia - Consolidations
|
(11,071,027 | ) | 0 | 0 | (11,071,027 | ) | 11,071,027 | 0 | 0 | 11,071,027 | 0 | 0 | ||||||||||||||||||||||||||||
|
Sold Property Expenses For Sale Props
|
1,033,987 | 8,812 | 18,873 | 1,023,926 | (1,032,298 | ) | 18,548 | 8,487 | (1,022,237 | ) | 1,689 | 1,689 | ||||||||||||||||||||||||||||
|
Sold Property Expenses Cont Ops
|
(161,981 | ) | 39,041 | 22,158 | (145,098 | ) | 161,981 | 22,158 | 46,530 | 137,609 | 0 | (7,489 | ) | |||||||||||||||||||||||||||
|
Lofts at Post Oak
|
(5,065 | ) | 0 | 0 | (5,065 | ) | 5,065 | 0 | 0 | 5,065 | 0 | 0 | ||||||||||||||||||||||||||||
|
290 Veterans
|
(660,282 | ) | 0 | 0 | (660,282 | ) | 660,282 | 0 | 0 | 660,282 | 0 | 0 | ||||||||||||||||||||||||||||
|
390 Capitol Ave.
|
2,901,594 | 372 | 4,531 | 2,897,435 | (2,901,594 | ) | 4,343 | 184 | (2,897,435 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Forest Park Apartments
|
(716,190 | ) | 0 | 0 | (716,190 | ) | 716,190 | 0 | 0 | 716,190 | 0 | 0 | ||||||||||||||||||||||||||||
|
Uptown Village - For Sale
|
9,505,241 | 313 | 0 | 9,505,554 | (9,503,538 | ) | 0 | 865 | (9,504,403 | ) | 1,703 | 1,151 | ||||||||||||||||||||||||||||
|
Mirabella
|
14,856,823 | 5,173 | 3,843 | 14,858,154 | (14,860,624 | ) | 963 | 1,939 | (14,861,600 | ) | (3,801 | ) | (3,447 | ) | ||||||||||||||||||||||||||
|
Alta Mar
|
(4,417,043 | ) | 1,267 | 0 | (4,415,776 | ) | 4,418,214 | 0 | 1,267 | 4,416,947 | 1,172 | 1,172 | ||||||||||||||||||||||||||||
|
Cobblestone at Eagle Harbor
|
1,298,654 | 960 | 7,279 | 1,292,335 | (1,342,000 | ) | 7,279 | 960 | (1,335,681 | ) | (43,346 | ) | (43,346 | ) | ||||||||||||||||||||||||||
|
Vintage at the Grove
|
12,142,062 | 88,705 | 238,425 | 11,992,343 | (12,184,183 | ) | 259,814 | 107,031 | (12,031,400 | ) | (42,121 | ) | (39,058 | ) | ||||||||||||||||||||||||||
|
Tradition at Palm Aire
|
23,007,104 | 960 | 8,269 | 22,999,796 | (23,007,104 | ) | 8,269 | 960 | (22,999,796 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Merritt Stratford
|
282,460 | 650 | 650 | 282,460 | (282,460 | ) | 0 | 0 | (282,460 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
The Exchange
|
29,561,914 | 0 | 0 | 29,561,914 | (29,565,077 | ) | 0 | 0 | (29,565,077 | ) | (3,163 | ) | (3,163 | ) | ||||||||||||||||||||||||||
|
Villas at 7 Dwarfs
|
(6,742,224 | ) | 0 | 0 | (6,742,224 | ) | 6,742,119 | 0 | 0 | 6,742,119 | (105 | ) | (105 | ) | ||||||||||||||||||||||||||
|
Villa Tuscany
|
(500,973 | ) | 0 | 0 | (500,973 | ) | 500,973 | 0 | 0 | 500,973 | 0 | 0 | ||||||||||||||||||||||||||||
|
Vintage at Abacoa
|
(23,438,359 | ) | 0 | 0 | (23,438,359 | ) | 23,438,359 | 0 | 0 | 23,438,359 | 0 | 0 | ||||||||||||||||||||||||||||
- 16 -
TARRAGON CORPORATION
ROLLFORWARD OF INTERCOMPANY ACCOUNTS
For the Month Ended April 30, 2010
(Continued)
|
TARRAGON CORP BOOKS
|
PROPERTY LEVEL BOOKS
|
|||||||||||||||||||||||||||||||||||||||
|
FUND LEVEL ACCOUNTS
|
PROPERTY LEVEL ACCOUNTS
|
|||||||||||||||||||||||||||||||||||||||
|
3/31/2010
|
4/30/2010
|
3/31/2010
|
4/30/2010
|
3/31/2010
|
4/30/2010
|
|||||||||||||||||||||||||||||||||||
|
IC
|
IC
|
IC
|
IC
|
Timing
|
Timing
|
|||||||||||||||||||||||||||||||||||
|
Balance
|
Debits
|
Credits
|
Balance
|
Balance
|
Debits
|
Credits
|
Balance
|
Diff
|
Diff
|
|||||||||||||||||||||||||||||||
|
CONSOLIDATED PROPERTIES
|
||||||||||||||||||||||||||||||||||||||||
|
1100 Adams
|
$ | (7,548,835 | ) | $ | 0 | $ | 0 | $ | (7,548,835 | ) | $ | 7,548,834 | $ | 0 | $ | 0 | $ | 7,548,834 | $ | 0 | $ | 0 | ||||||||||||||||||
|
1118 Adams
|
5,123,420 | 58,418 | 27,691 | 5,154,147 | (5,135,508 | ) | 21,186 | 58,418 | (5,172,740 | ) | (12,088 | ) | (18,593 | ) | ||||||||||||||||||||||||||
|
1118 Adams Parking, Inc.
|
111,718 | 60,667 | 45,500 | 126,885 | (104,962 | ) | 13,202 | 15,167 | (106,927 | ) | 6,756 | 19,958 | ||||||||||||||||||||||||||||
|
1118 Adams Parking - Eliminations
|
(298,929 | ) | 0 | 0 | (298,929 | ) | 298,929 | 0 | 0 | 298,929 | 0 | 0 | ||||||||||||||||||||||||||||
|
20 North Water Street
|
9,769,686 | 0 | 0 | 9,769,686 | (9,769,645 | ) | 0 | 0 | (9,769,645 | ) | 41 | 41 | ||||||||||||||||||||||||||||
|
200 Fountain Apartment Homes
|
603,260 | 0 | 0 | 603,260 | (603,260 | ) | 0 | 0 | (603,260 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Aventerra
|
(33,896 | ) | 132,059 | 151,386 | (53,223 | ) | 38,493 | 167,157 | 157,469 | 48,182 | 4,597 | (5,041 | ) | |||||||||||||||||||||||||||
|
River City Landing
|
2,167,195 | 0 | 0 | 2,167,195 | (2,167,195 | ) | 0 | 0 | (2,167,195 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Desert Winds/Silver Creek
|
(12,016,831 | ) | 0 | 0 | (12,016,831 | ) | 12,016,831 | 0 | 0 | 12,016,831 | 0 | 0 | ||||||||||||||||||||||||||||
|
Vintage at Legacy-Phase I
|
2,694,294 | 0 | 0 | 2,694,294 | (2,694,294 | ) | 0 | 0 | (2,694,294 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Heather Hill
|
3,249,173 | 0 | 0 | 3,249,173 | (3,249,173 | ) | 0 | 0 | (3,249,173 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
278 Main Street
|
(23,198 | ) | 0 | 0 | (23,198 | ) | 23,198 | 0 | 0 | 23,198 | 0 | 0 | ||||||||||||||||||||||||||||
|
Lofts at the Mills
|
403,328 | 0 | 0 | 403,328 | (403,328 | ) | 0 | 0 | (403,328 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Mariner's Point
|
4,381,168 | 0 | 0 | 4,381,168 | (4,381,168 | ) | 0 | 0 | (4,381,168 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Block 99/102
|
(24,567,529 | ) | 0 | 0 | (24,567,529 | ) | 24,567,529 | 0 | 0 | 24,567,529 | 0 | 0 | ||||||||||||||||||||||||||||
|
Northgate
|
12,934,714 | 0 | 0 | 12,934,714 | (12,934,714 | ) | 0 | 0 | (12,934,714 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Merritt 8 Corporate Park
|
(1,974,843 | ) | 0 | 0 | (1,974,843 | ) | 1,974,842 | 0 | 0 | 1,974,842 | (1 | ) | (1 | ) | ||||||||||||||||||||||||||
|
Mohegan Hill
|
53,547,034 | 946 | 6,695 | 53,541,284 | (53,547,034 | ) | 6,695 | 946 | (53,541,284 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Mustang Creek
|
(309,652 | ) | 87,763 | 101,859 | (323,748 | ) | 283,490 | 176,472 | 164,264 | 295,698 | (26,162 | ) | (28,050 | ) | ||||||||||||||||||||||||||
|
The Hamptons
|
(4,146,878 | ) | 0 | 60 | (4,146,938 | ) | 4,146,878 | 60 | 0 | 4,146,938 | 0 | 0 | ||||||||||||||||||||||||||||
|
Woodcreek - FL
|
(11,833,271 | ) | 10 | 1,588 | (11,834,849 | ) | 11,825,492 | 1,588 | 0 | 11,827,080 | (7,779 | ) | (7,769 | ) | ||||||||||||||||||||||||||
|
Vintage at Plantation Bay
|
(1,042,489 | ) | 0 | 0 | (1,042,489 | ) | 1,042,489 | 0 | 0 | 1,042,489 | 0 | 0 | ||||||||||||||||||||||||||||
|
Oxford Place
|
(10,086,845 | ) | 0 | 0 | (10,086,845 | ) | 10,082,136 | 0 | 0 | 10,082,136 | (4,709 | ) | (4,709 | ) | ||||||||||||||||||||||||||
|
11 Mt Pleasant
|
18,304,530 | 325 | 325 | 18,304,530 | (18,304,530 | ) | 0 | 0 | (18,304,530 | ) | 0 | 0 | ||||||||||||||||||||||||||||
- 17 -
TARRAGON CORPORATION
ROLLFORWARD OF INTERCOMPANY ACCOUNTS
For the Month Ended April 30, 2010
(Continued)
|
TARRAGON CORP BOOKS
|
PROPERTY LEVEL BOOKS
|
|||||||||||||||||||||||||||||||||||||||
|
FUND LEVEL ACCOUNTS
|
PROPERTY LEVEL ACCOUNTS
|
|||||||||||||||||||||||||||||||||||||||
|
3/31/2010
|
4/30/2010
|
3/31/2010
|
4/30/2010
|
3/31/2010
|
4/30/2010
|
|||||||||||||||||||||||||||||||||||
|
IC
|
IC
|
IC
|
IC
|
Timing
|
Timing
|
|||||||||||||||||||||||||||||||||||
|
Balance
|
Debits
|
Credits
|
Balance
|
Balance
|
Debits
|
Credits
|
Balance
|
Diff
|
Diff
|
|||||||||||||||||||||||||||||||
|
CONSOLIDATED PROPERTIES
|
||||||||||||||||||||||||||||||||||||||||
|
French Villa
|
$ | (2,852,018 | ) | $ | 0 | $ | 0 | $ | (2,852,018 | ) | $ | 2,852,018 | $ | 0 | $ | 0 | $ | 2,852,018 | $ | 0 | $ | 0 | ||||||||||||||||||
|
Southern Elms
|
(1,200,901 | ) | 0 | 0 | (1,200,901 | ) | 1,200,511 | 7,489 | 0 | 1,208,000 | (390 | ) | 7,099 | |||||||||||||||||||||||||||
|
Park Dale Gardens
|
(1,674,574 | ) | 0 | 0 | (1,674,574 | ) | 1,674,574 | 0 | 0 | 1,674,574 | 0 | 0 | ||||||||||||||||||||||||||||
|
Creekwood Village
|
(6,897,468 | ) | 0 | 0 | (6,897,468 | ) | 6,897,468 | 0 | 0 | 6,897,468 | 0 | 0 | ||||||||||||||||||||||||||||
|
Summit on the Lake
|
(2,490,523 | ) | 87,206 | 104,549 | (2,507,866 | ) | 2,502,178 | 123,112 | 109,628 | 2,515,663 | 11,656 | 7,798 | ||||||||||||||||||||||||||||
|
Warwick Grove
|
(2,365,057 | ) | 0 | 0 | (2,365,057 | ) | 2,365,057 | 0 | 0 | 2,365,057 | 0 | 0 | ||||||||||||||||||||||||||||
|
Harbor Green
|
(8,653,297 | ) | 960 | 6,927 | (8,659,263 | ) | 8,652,252 | 6,927 | 960 | 8,658,218 | (1,045 | ) | (1,045 | ) | ||||||||||||||||||||||||||
|
Vintage at Madison Crossing
|
512,712 | 0 | 0 | 512,712 | (512,712 | ) | 0 | 0 | (512,712 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Block 102 (Comm Ctr)
|
96,446 | 0 | 0 | 96,446 | (96,446 | ) | 0 | 0 | (96,446 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Hoboken Sales Center
|
(34,910 | ) | 0 | 0 | (34,910 | ) | 34,910 | 0 | 0 | 34,910 | 0 | 0 | ||||||||||||||||||||||||||||
|
Block 106
|
9,177,697 | 0 | 0 | 9,177,697 | (9,177,697 | ) | 0 | 0 | (9,177,697 | ) | (1 | ) | (1 | ) | ||||||||||||||||||||||||||
|
Block 114
|
1,685,790 | 0 | 0 | 1,685,790 | (1,688,605 | ) | 0 | 0 | (1,688,605 | ) | (2,816 | ) | (2,816 | ) | ||||||||||||||||||||||||||
|
Block 104
|
555,456 | 0 | 0 | 555,456 | (554,300 | ) | 0 | 0 | (554,300 | ) | 1,156 | 1,156 | ||||||||||||||||||||||||||||
|
Hoboken Sales Center
|
(125,992 | ) | 0 | 0 | (125,992 | ) | 125,992 | 0 | 0 | 125,992 | 0 | 0 | ||||||||||||||||||||||||||||
|
Block 144
|
4,387,343 | 46,315 | 14,853 | 4,418,805 | (4,387,343 | ) | 0 | 31,462 | (4,418,805 | ) | 1 | 1 | ||||||||||||||||||||||||||||
|
Block 112(MWH)
|
9,372,671 | 0 | 0 | 9,372,671 | (9,374,644 | ) | 0 | 0 | (9,374,644 | ) | (1,973 | ) | (1,973 | ) | ||||||||||||||||||||||||||
|
Hoboken Cinema
|
1,492,516 | 0 | 0 | 1,492,516 | (1,492,516 | ) | 0 | 0 | (1,492,516 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Autumn Ridge
|
(4,511,088 | ) | 67,580 | 93,025 | (4,536,533 | ) | 3,827,420 | 93,087 | 86,908 | 3,833,599 | (683,667 | ) | (702,933 | ) | ||||||||||||||||||||||||||
|
Dogwood Hills
|
(2,067,613 | ) | 47,393 | 59,431 | (2,079,651 | ) | 1,636,398 | 59,456 | 61,252 | 1,634,602 | (431,216 | ) | (445,050 | ) | ||||||||||||||||||||||||||
|
Groton Towers
|
(4,914,993 | ) | 97,338 | 135,165 | (4,952,820 | ) | 3,984,028 | 135,225 | 131,433 | 3,987,821 | (930,965 | ) | (965,000 | ) | ||||||||||||||||||||||||||
|
Gull Harbor
|
(1,749,387 | ) | 26,000 | 32,540 | (1,755,927 | ) | 1,741,634 | 32,540 | 26,901 | 1,747,274 | (7,753 | ) | (8,653 | ) | ||||||||||||||||||||||||||
|
Hamden Center
|
(2,815,512 | ) | 56,674 | 79,836 | (2,838,674 | ) | 2,254,561 | 79,871 | 72,999 | 2,261,432 | (560,952 | ) | (577,242 | ) | ||||||||||||||||||||||||||
|
Lakeview
|
(2,864,274 | ) | 60,127 | 76,262 | (2,880,410 | ) | 2,096,056 | 76,309 | 88,934 | 2,083,431 | (768,218 | ) | (796,979 | ) | ||||||||||||||||||||||||||
|
Nutmeg Woods
|
(12,194,935 | ) | 281,840 | 340,558 | (12,253,653 | ) | 9,280,084 | 340,859 | 430,751 | 9,190,192 | (2,914,851 | ) | (3,063,460 | ) | ||||||||||||||||||||||||||
|
Ocean Beach
|
(13,725,541 | ) | 266,088 | 339,119 | (13,803,571 | ) | 10,422,996 | 339,360 | 384,270 | 10,378,087 | (3,302,545 | ) | (3,425,484 | ) | ||||||||||||||||||||||||||
|
Parkview
|
(6,294,865 | ) | 126,457 | 164,751 | (6,333,158 | ) | 4,544,866 | 165,138 | 177,293 | 4,532,712 | (1,749,999 | ) | (1,800,446 | ) | ||||||||||||||||||||||||||
- 18 -
TARRAGON CORPORATION
ROLLFORWARD OF INTERCOMPANY ACCOUNTS
For the Month Ended April 30, 2010
(Continued)
|
TARRAGON CORP BOOKS
|
PROPERTY LEVEL BOOKS
|
|||||||||||||||||||||||||||||||||||||||
|
FUND LEVEL ACCOUNTS
|
PROPERTY LEVEL ACCOUNTS
|
|||||||||||||||||||||||||||||||||||||||
|
3/31/2010
|
4/30/2010
|
3/31/2010
|
4/30/2010
|
3/31/2010
|
4/30/2010
|
|||||||||||||||||||||||||||||||||||
|
IC
|
IC
|
IC
|
IC
|
Timing
|
Timing
|
|||||||||||||||||||||||||||||||||||
|
Balance
|
Debits
|
Credits
|
Balance
|
Balance
|
Debits
|
Credits
|
Balance
|
Diff
|
Diff
|
|||||||||||||||||||||||||||||||
|
CONSOLIDATED PROPERTIES
|
||||||||||||||||||||||||||||||||||||||||
|
Sagamore
|
$ | (4,516,620 | ) | $ | 126,146 | $ | 183,439 | $ | (4,573,913 | ) | $ | 2,277,224 | $ | 183,552 | $ | 183,866 | $ | 2,276,910 | $ | (2,239,396 | ) | $ | (2,297,003 | ) | ||||||||||||||||
|
Woodcliff
|
(21,110,012 | ) | 385,312 | 515,542 | (21,240,243 | ) | 17,373,171 | 515,840 | 627,981 | 17,261,031 | (3,736,841 | ) | (3,979,212 | ) | ||||||||||||||||||||||||||
|
200 Fountain
|
1,482,577 | 107,874 | 194,351 | 1,396,100 | (3,600,391 | ) | 194,435 | 189,064 | (3,595,020 | ) | (2,117,813 | ) | (2,198,920 | ) | ||||||||||||||||||||||||||
|
278 Main
|
(49,570 | ) | 63,964 | 99,258 | (84,864 | ) | (922,394 | ) | 99,311 | 95,723 | (918,807 | ) | (971,965 | ) | (1,003,672 | ) | ||||||||||||||||||||||||
|
Club at Danforth
|
(11,092,278 | ) | 252,999 | 247,240 | (11,086,519 | ) | 9,148,896 | 247,393 | 320,818 | 9,075,471 | (1,943,382 | ) | (2,011,048 | ) | ||||||||||||||||||||||||||
|
Forest Park
|
(4,446,379 | ) | 122,999 | 159,496 | (4,482,875 | ) | 3,191,848 | 162,161 | 173,159 | 3,180,850 | (1,254,530 | ) | (1,302,026 | ) | ||||||||||||||||||||||||||
|
Heather Hill
|
(26,616,471 | ) | 355,714 | 444,216 | (26,704,973 | ) | 18,944,471 | 444,460 | 579,525 | 18,809,405 | (7,672,000 | ) | (7,895,568 | ) | ||||||||||||||||||||||||||
|
Liberty Building
|
(6,256,867 | ) | 129,166 | 160,147 | (6,287,848 | ) | 4,887,133 | 160,213 | 190,937 | 4,856,409 | (1,369,734 | ) | (1,431,440 | ) | ||||||||||||||||||||||||||
|
Links at Georgetown
|
(9,303,285 | ) | 268,078 | 252,081 | (9,287,288 | ) | 7,094,377 | 252,272 | 349,233 | 6,997,416 | (2,208,909 | ) | (2,289,872 | ) | ||||||||||||||||||||||||||
|
Lofts at the Mills
|
3,055,850 | 305,419 | 433,117 | 2,928,152 | (5,768,638 | ) | 433,333 | 394,038 | (5,729,342 | ) | (2,712,788 | ) | (2,801,190 | ) | ||||||||||||||||||||||||||
|
River City
|
(6,340,980 | ) | 203,338 | 192,013 | (6,329,655 | ) | 2,857,933 | 192,210 | 283,175 | 2,766,968 | (3,483,047 | ) | (3,562,688 | ) | ||||||||||||||||||||||||||
|
Villa Tuscany
|
(15,972,035 | ) | 0 | 0 | (15,972,035 | ) | 15,972,034 | 0 | 0 | 15,972,034 | (1 | ) | (1 | ) | ||||||||||||||||||||||||||
|
Vintage at Legacy
|
(4,715,053 | ) | 190,259 | 313,966 | (4,838,759 | ) | 1,451,712 | 402,009 | 369,457 | 1,484,264 | (3,263,340 | ) | (3,354,495 | ) | ||||||||||||||||||||||||||
|
Vintage at Madison
|
(3,653,745 | ) | 123,786 | 138,815 | (3,668,774 | ) | 2,487,517 | 138,910 | 166,593 | 2,459,834 | (1,166,227 | ) | (1,208,940 | ) | ||||||||||||||||||||||||||
|
Vintage at the Parke
|
(4,163,723 | ) | 182,929 | 197,222 | (4,178,015 | ) | 2,170,585 | 197,369 | 240,983 | 2,126,971 | (1,993,138 | ) | (2,051,044 | ) | ||||||||||||||||||||||||||
|
Vintage at Plantation
|
(8,570,968 | ) | 209,740 | 234,667 | (8,595,895 | ) | 6,458,032 | 234,795 | 284,279 | 6,408,548 | (2,112,937 | ) | (2,187,347 | ) | ||||||||||||||||||||||||||
|
Mariner Plaza
|
(4,260,662 | ) | 0 | 0 | (4,260,662 | ) | 4,260,662 | 0 | 0 | 4,260,662 | 0 | 0 | ||||||||||||||||||||||||||||
|
Midway Mills Crossing
|
(4,361,852 | ) | 0 | 0 | (4,361,852 | ) | 4,361,852 | 0 | 0 | 4,361,852 | 0 | 0 | ||||||||||||||||||||||||||||
|
Paradigm Loan 390 Cap Mariners Merritt S
|
1,232,085 | 0 | 0 | 1,232,085 | (1,232,085 | ) | 0 | 0 | (1,232,085 | ) | 0 | 0 | ||||||||||||||||||||||||||||
|
Shortfall Note
|
1 | 0 | 0 | 1 | (1 | ) | 0 | 0 | (1 | ) | 0 | 0 | ||||||||||||||||||||||||||||
| $ | 126,731,503 | $ | 11,607,455 | $ | 11,849,849 | $ | 126,489,109 | $ | (126,731,507 | ) | $ | 11,605,764 | $ | 11,363,371 | $ | (126,489,114 | ) | $ | (5 | ) | $ | (5 | ) | |||||||||||||||||
- 19 -
TARRAGON CORPORATION
Cash Reconciliation
Signature Master
Account XXXXXX0540
April 30, 2010
GL Acct # 13383 (Yardi 10095)
|
Bank Balance
|
1,407,883.65 | |||
|
Add: Reconciling Items
|
0.00 | |||
|
Less: O/S Checks/Wires/Achs
|
0.00 | |||
|
Less: Check charges
|
0.00 | |||
|
Add: Void checks
|
0.00 | |||
|
Less: Misc Diff
|
0.00 | |||
|
Book Balance
|
1,407,883.65 |
- 20 -
TARRAGON CORPORATION
For the Month ended April 30, 2010
|
Property
|
Date
|
Period
|
Person
|
Debit
|
Credit
|
Balance
|
Remarks
|
|
10095-00
|
Cash – Signature Master Investment
|
901,612.09 Beginning Balance=
|
|||||
|
1000
|
4/1/2010
|
04/2010
|
41,969.40
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/1/2010
|
04/2010
|
0.00
|
28,056.13
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/2/2010
|
04/2010
|
196,961.93
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/2/2010
|
04/2010
|
0.00
|
4,020.60
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/5/2010
|
04/2010
|
277,287.76
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/5/2010
|
04/2010
|
0.00
|
31,591.66
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/6/2010
|
04/2010
|
36,013.86
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/6/2010
|
04/2010
|
0.00
|
47,794.47
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/7/2010
|
04/2010
|
10,284.62
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/7/2010
|
04/2010
|
0.00
|
21,399.98
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/8/2010
|
04/2010
|
105,837.44
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/8/2010
|
04/2010
|
0.00
|
23,624.27
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/9/2010
|
04/2010
|
5,415.00
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/9/2010
|
04/2010
|
0.00
|
74,950.08
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/12/2010
|
04/2010
|
8,943.60
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/12/2010
|
04/2010
|
0.00
|
11,382.84
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/13/2010
|
04/2010
|
68,249.90
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/13/2010
|
04/2010
|
0.00
|
31,469.92
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/14/2010
|
04/2010
|
1,789.64
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/14/2010
|
04/2010
|
0.00
|
412,100.42
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/15/2010
|
04/2010
|
4,301.44
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/15/2010
|
04/2010
|
0.00
|
179.25
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/16/2010
|
04/2010
|
3,643.52
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/16/2010
|
04/2010
|
0.00
|
20,432.44
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/19/2010
|
04/2010
|
6,760.65
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/19/2010
|
04/2010
|
0.00
|
135,042.11
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/20/2010
|
04/2010
|
1,862.11
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/20/2010
|
04/2010
|
0.00
|
14,000.98
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/21/2010
|
04/2010
|
2,488.16
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/21/2010
|
04/2010
|
0.00
|
16,862.38
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/22/2010
|
04/2010
|
3,199.61
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/22/2010
|
04/2010
|
0.00
|
1,735.77
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/23/2010
|
04/2010
|
85,453.38
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
- 21 -
TARRAGON CORPORATION
For the Month Ended April 30, 2010
(Continued)
|
Property
|
Date
|
Period
|
Person
|
Debit
|
Credit
|
Balance
|
Remarks
|
|
1000
|
4/23/2010
|
04/2010
|
0.00
|
11,951.32
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/25/2010
|
04/2010
|
0.00
|
245,727.44
|
Pac West – Disb, Funded
|
||
|
1000
|
4/25/2010
|
04/2010
|
0.00
|
76,353.19
|
TMI AP DISB – DIP TMI SIGNATURE
|
||
|
1000
|
4/26/2010
|
04/2010
|
20,844.52
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/26/2010
|
04/2010
|
0.00
|
32,288.63
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/27/2010
|
04/2010
|
951,405.06
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/27/2010
|
04/2010
|
0.00
|
120,765.66
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/28/2010
|
04/2010
|
1,697.00
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/28/2010
|
04/2010
|
0.00
|
422,928.36
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/29/2010
|
04/2010
|
369,358.62
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/29/2010
|
04/2010
|
0.00
|
268,494.25
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/30/2010
|
04/2010
|
339,000.00
|
0.00
|
Xfer to Tarr Signature Master
|
||
|
1000
|
4/30/2010
|
04/2010
|
20,606.39
|
0.00
|
SIGNATURE MASTER DEP/TSF
|
||
|
1000
|
4/30/2010
|
04/2010
|
0.00
|
3,949.90
|
SIGNATURE MASTER DEP/TSF
|
||
|
1,407,883.65
|
= Ending Balance=
|
||||||
|
2,563,373.61
|
2,057,102.05
|
- 23 -