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EXHIBIT B <br />DEVELOPER IMPROVEMENTS <br />The Developer Improvements consist of all capital improvements and costs associated with the <br />following: <br />Construction and development of a 120-unit multi -family apartment development consisting of <br />two four-story buildings and related parking improvements, construction and development of <br />approximately 1,500 square feet of street level commercial space and all related improvements and <br />appurtenances <br />16083957v2 <br />28616068vl <br />