DEBT FUNDING 

● Debt Funding shall be issued in stages to complete 

     ○ Final Site Acquisition 

     ○ Pre-development costs 

      ■ Environmental Phase I 

         Environmental Phase iI 

         Site Plan Development / Urban Master Plan

               ■ Due Diligence 

               ■ Research / Planning

               ■ Upgrade Infrastructure 

               ■ Permitting & Documentation 

    ○ Design Costs 

    ○ Construction Phase Costs