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EXHIBIT C 98— sc;�sao The "Release Price" will be equal to all accrued and unpaid interest on the Loans through the date of the proposed release lus the applicable prepayment premium equal to the Yield Maintenance Amount(as defined in the Superior pocuments), 1�the greater of (a) The Loan then outstanding for the particular Facility or Facilities; (b) The principal amount of all Loans then outstanding or available to be: advanced immediately prior to the proposed release multiplied by a fraction,the numerator of which is the total number of units existing(or required to be constructed under the Superior pocuments if not complete) at the Facility or Facilities to be released or otherwise for which such calculation is made(the "Subject Property")and the denominator of which is the total number of units existing(or required to be constructed under the Superior pocuments if not complete) at all Facilities as of immediately prior to the proposed released(excluding any previously release Facility) (herein, "All Facilities"); and ' (c) The principal amount of all Loans then outstanding immediately prior to the proposed release multiplied by a fraction, the numerator of which is the Net Operating Income (Before Depreciation) of the Subject Property and the denominator of which is the Net Operating Income (Before Depreciation) of All Facilities immediately prior to the proposed release. "Net Operating Income(Before Depreciation)" shall consist of the net income(before taxes) from normal operations at such property or properties as set forth in the quarterly statements provided to Lender for the property or properties for which such calculation is made (i.e. either the Subject Property or All Facilities)(without deduction for actual management fees paid in connection with the operation of such property or properties), calculated based upon a specified number of months selected by Lender(not in excess of twelve(12)months)through the calendar quarter most recently ended,�lus interest expense and non-cash expenses or allowances for said period for depreciation and amortization of assets used at such property or properties(to the extent deducted in determining such net income) ss Assumed Management Fees(as defined in the Superior pocuments). In calculating "net income" extraordinary income shall be excluded. Furthermore, if an�one or more Facilities have not been operating for at least twelve (12) months, Lender may, at its option, elect to exclude such Facilities which have not been operating for such period and the Net Operating Income thereof from this calculation. If such excluded Facility is the Subject Property, then the Release Price for the Subject Property shall be determined in accordance with(a) or(b) above. 492286.3