Original Note Escrow & Prepayment

Property Lender Amount Date of Note 4/30/04 Current Portion Monthly Payment Insurance Rate Variable Maturity Date Penalty

Washington Mutual $140,600.00 March 18, 2004 $140,600.00 All $911.93 $301.65 6.75% April 1, 2034 No

First Bank $200,000.00 January 9, 2004 $179,446.51 All $747.69 N/A 5.00% January 9, 2005 No

Summitt Bank $350,000.00 April 30, 2004 $350,000.00 All $1,312.50 N/A 4.5% Variable April 30, 2005 No

ABN Amro $80,000.00 August 21, 2003 $79,395.65 $955.30 $672.75 N/A 6.38% September 1, 2033 No
$0.00
$2,052.00 interest Prime + .75%
First Bank $86,400.00 November 21, 2003 $86,400.00 All due at maturity N/A 4.75 May 21, 2004 No
Prime + .75%
Union Bank $654,362.85 October 16, 2003 $654,362.85 None $3,256.45 N/A 4.75 October 16, 2005 No
Prime + .50%
Charter One Bank $287,000.00 March 5, 2004 $287,000.00 None $1,076.25 N/A 4.50% April 1, 2006 No

First Bank $60,000.00 December 19, 2003 $55,320.25 $11,557.20 $1,459.88 N/A 4.75% December 19, 2008 No

Total $1,858,362.85 $1,832,525.26 $12,512.50 $9,437.45

 IRCO, Inc.
Rent Roll

6 Months Rent Projected Projected Annual # of Units # of Units

6/30/2003 Monthly Income Rental Income 2003 Available Rented
1203 South Brown Comerica 12,061.20 2,010.24 24,122.64 1 1
501 Franklin Comerica 11,700.00 1,950.00 23,400.00 2 2
126 E Mansion Comerica 4,677.00 801.00 9,483.00 1 1
1740 Cliffs Landing 5th3rd 6,600.00 1,100.00 13,200.00 1 1
309-311 South Elm 5th3rd 7,800.00 1,300.00 15,600.00 3 3
322 Homecrest 5th3rd 10,887.08 1,600.00 20,487.08 4 4
412 Washington 5th3rd 8,581.00 1,008.00 14,629.00 2 2
627 Robinson Rd 5th3rd 3,946.50 537.50 7,171.50 2 2
171 Woodlawn Republic 3,617.00 710.00 7,877.00 1 1

69,869.78 11,016.74 135,970.22 17 17