Senior Care Living V, LLC (Inspired Living at Windermere,FL) 8380 Bay Pines Blvd., 3'"^ Floor St. Petersburg, FL 33709

Senior Care Living V, LLC (Inspired Living at Windermere,FL) 8380 Bay Pines Blvd., 3'"^ Floor St. Petersburg, FL 33709 09/25/2017 RE: Officers Certificate for Senior Care Living V, LLC (Inspired Living at Windermere,FL) Relating to the Monthly Reports-After the Issuance of a Certificate of Occupancy Issues Including: None I hereby certify that the unaudited financial reports filed on 0912512017 constitutes the monthly financial information required by the Continuing Disclosure Agreement. I further certify that the information complies with the Continuing Disclosure Agreement and the Rule as required. DAC shall be entitled to rely on this certificate. If you have further questions about this matter please do not hesitate to call. Mark Bouldin President Senior Care Living If Inc.-Manager

Inspired Living at Windermere (ilwm) Income Statement and Statement of Cash Flows One Month Ended and Eight Months Ended August 31, 2017 MTD Actual MTD Budget Variance PTD Actual PTD Budget Variance MEMORY CARE - FOREVER REVENUE Inspired Forever Program MC 212,795 119,550 93,245 1,493,951 956,400 537,551 MEMORY CARE - FOREVER REVENUE 212,795 119,550 93,245 1,493,951 956,400 537,551 MEMORY CARE - STANDARD REVENUE Inspired Standard Program MC 44,861 84,795 (39,934) 216,039 388,779 (172,740) MEMORY CARE - STANDARD REVENUE 44,861 84,795 (39,934) 216,039 388,779 (172,740) ASSISTED LIVING - FOREVER REVENUE Inspired Forever Program AL 283,808 142,895 140,913 1,935,390 1,143,160 792,230 ASSISTED LIVING - FOREVER REVENUE 283,808 142,895 140,913 1,935,390 1,143,160 792,230 ASSISTED LIVING -STANDARD REVENUE Level 1 - - - 1,663-1,663 Level 2-8,000 (8,000) - 37,600 (37,600) Level 3-4,800 (4,800) - 26,400 (26,400) Inspired Standard Program AL 33,960 107,780 (73,820) 207,365 539,152 (331,787) ASSISTED LIVING -STANDARD REVENUE 33,960 120,580 (86,620) 209,028 603,152 (394,124) SECOND OCCUPANT REVENUE Second Occupant Revenue 3,600 1,200 2,400 12,158 9,600 2,558 SECOND OCCUPANT REVENUE 3,600 1,200 2,400 12,158 9,600 2,558 COMMUNITY FEES Community Fee Revenue 15,000 18,000 (3,000) 186,099 136,000 50,099 COMMUNITY FEES 15,000 18,000 (3,000) 186,099 136,000 50,099 CONCESSIONS Concession-Miscellaneous (2,203) - (2,203) (33,842) - (33,842) Concession - Marketing Specials (27,750) - (27,750) (228,796) - (228,796) CONCESSIONS (29,953) - (29,953) (262,637) - (262,637) INCONTINENCE REVENUE Incontinence Supplies Revenue 18,600-18,600 129,056-129,056 INCONTINENCE REVENUE 18,600-18,600 129,056-129,056 ANCILLARY REVENUE Barber & Beauty Administrative Revenue 287-287 1,857-1,857 Medical Supplies Revenue 39-39 39-39 Respite Revenue - - - 18,700-18,700 Guest Apartments - - - 7,525-7,525 Late Charges 50-50 350-350 Tray Service Revenue - - - 240-240 Contract Processing Fee - - - 70-70 Pet Service/Fee Revenue - - - 1,000-1,000 Transportation Revenue 200-200 250-250 Rebates - 419 (419) 2,683 2,718 (35) Billable Supplies Revenue - - - 15-15 ANCILLARY REVENUE 576 419 157 32,730 2,718 30,012 TOTAL REVENUE 583,247 487,439 95,808 3,951,815 3,239,809 712,006 PAYROLL WAGES Director Wages 5,529 4,644 (885) 29,675 36,942 7,267 RN Wages - 716 716 4,090 5,581 1,491 LPN Wages 18,263 14,321 (3,942) 98,186 111,615 13,429 Nursing Aides Wages (CNA/STNA) - 17,289 17,289 17,016 102,360 85,344 Private Duty Aides (Med Tech) - 2,148 2,148 4,831 16,742 11,911 Care Givers Wages 36,190 8,664 (27,526) 220,858 67,528 (153,330) RN Overtime - - - 64 - (64) Page 1 of 9

Inspired Living at Windermere (ilwm) Income Statement and Statement of Cash Flows One Month Ended and Eight Months Ended August 31, 2017 MTD Actual MTD Budget Variance PTD Actual PTD Budget Variance LPN Overtime 871 - (871) 5,463 - (5,463) Nursing Aides Overtime 1,823 - (1,823) 7,873 - (7,873) Bonus Healthcare MC - - - 800 - (800) Holiday Wages - - - 5,381 2,955 (2,426) PTO 802 821 19 4,192 6,568 2,376 Bereavement 267 - (267) 532 - (532) Retroactive 503 - (503) 823 - (823) HEALTHCARE MC LABOR 64,248 48,603 (15,645) 399,785 350,291 (49,494) PAYROLL WAGES Director Wages 6,004 5,616 (388) 45,208 44,666 (542) LPN Wages 12,668 15,037 2,369 159,160 117,197 (41,963) Nursing Aides Wages (CNA/STNA) - 22,671 22,671 8,348 138,556 130,208 Private Duty Aides (Med Tech) 3,254 - (3,254) 12,471 - (12,471) Care Givers Wages 41,825 14,178 (27,647) 220,604 110,501 (110,103) LPN Overtime 1,917 - (1,917) 10,462 - (10,462) Nursing Aides Overtime 1,843 - (1,843) 9,971 - (9,971) Med Tech and Lead Med Tech Overtime 235 - (235) 371 - (371) Commission Healthcare AL 750 - (750) 3,125 - (3,125) Bonus 100 - (100) 2,300 - (2,300) Holiday Wages - - - 6,920 3,138 (3,782) PTO 726 872 146 6,736 6,976 240 Bereavement - - - 642 - (642) Retroactive 876 - (876) 1,681 - (1,681) HEALTHCARE AL LABOR 70,198 58,374 (11,824) 487,999 421,034 (66,965) PAYROLL WAGES Program Director Wages 3,231 3,378 147 21,732 26,867 5,135 Program Coordinator Wages 2,328 2,148 (180) 18,159 16,742 (1,417) Overtime Wages 144 - (144) 1,540 - (1,540) Holiday Wages - - - 400 750 350 PTO - 208 208 1,097 1,664 567 Retroactive - - - 63 - (63) PROGRAMMING MC LABOR 5,703 5,734 31 42,992 46,023 3,031 PAYROLL WAGES Program Director Wages 3,607 3,378 (229) 26,854 26,867 13 Program Coordinators AL 3,470 2,148 (1,322) 19,466 16,742 (2,724) Bonus - - - 116 - (116) Overtime Wages 15 - (15) 603 - (603) Holiday Wages - - - 294 750 456 PTO - 208 208 500 1,664 1,164 Bereavement - - - 314 - (314) Retroactive - - - 65 - (65) PROGRAMMING AL LABOR 7,092 5,734 (1,358) 48,212 46,023 (2,189) PAYROLL WAGES Director Wages 4,865 4,644 (221) 24,115 36,942 12,827 Assistant Director Wages 2,979 3,670 691 26,709 28,604 1,895 Cooks Wages 7,803 10,891 3,088 84,478 84,884 406 Chefs Wages - - - 1,058 - (1,058) Prep Staff Wages 3,618 2,238 (1,380) 6,589 17,440 10,851 Waitstaff Wages 16,204 15,307 (897) 129,701 119,305 (10,396) Dishwashers Wages 2,963 - (2,963) 11,031 - (11,031) Page 2 of 9

Inspired Living at Windermere (ilwm) Income Statement and Statement of Cash Flows One Month Ended and Eight Months Ended August 31, 2017 MTD Actual MTD Budget Variance PTD Actual PTD Budget Variance Bonus 106 - (106) 191 - (191) Overtime Wages 1,489 - (1,489) 19,595 - (19,595) Holiday Wages - - - 4,536 2,034 (2,502) PTO 1,145 565 (580) 4,740 4,520 (220) Retroactive - - - 1,364 - (1,364) DINING LABOR 41,172 37,315 (3,857) 314,105 293,729 (20,376) PAYROLL WAGES Housekeeper Wages 9,423 7,934 (1,489) 69,334 61,837 (7,497) Overtime Wages 174 - (174) 1,718 - (1,718) Holiday Wages - - - 1,155 267 (888) PTO 164 74 (90) 2,035 592 (1,443) Bereavement - - - 594 - (594) Retroactive - - - 62 - (62) HOUSEKEEPING LABOR 9,762 8,008 (1,754) 74,899 62,696 (12,203) PAYROLL WAGES Director Wages 4,857 4,560 (297) 36,606 36,272 (334) Maintenance Wages 1,975 2,103 128 18,974 16,393 (2,581) Overtime Wages (16) - 16 209 - (209) Holiday Wages - - - 302 906 604 PTO - 252 252 487 2,016 1,529 Retroactive - - - 62 - (62) MAINTENANCE LABOR 6,817 6,915 98 56,640 55,587 (1,053) PAYROLL WAGES Driver Wages 2,936 1,969 (967) 13,187 15,346 2,159 Holiday Wages - - - - 264 264 PTO - 73 73-584 584 TRANSPORTATION LABOR 2,936 2,042 (894) 13,187 16,194 3,007 PAYROLL WAGES Director Wages 9,903 9,289 (614) 73,768 73,884 116 Move In Coordinator Wages 2,298 2,685 387 22,294 20,927 (1,367) Commissions 5,950 7,200 1,250 91,625 55,000 (36,625) Bonus Marketing - - - 1,730 - (1,730) Overtime Wages 11 - (11) 1,136 - (1,136) Holiday Wages - - - 364 1,629 1,265 PTO 366 453 87 1,746 3,624 1,878 Retroactive - - - 172 - (172) SALES LABOR 18,529 19,627 1,098 192,835 155,064 (37,771) PAYROLL WAGES Executive Director Wages 8,979 8,444 (535) 66,526 67,167 641 Business Office Director Wages 3,715 3,040 (675) 17,643 24,180 6,537 HR Generalist 4,334 4,096 (238) 32,709 32,576 (133) Receptionist Wages 9,598 9,683 85 68,678 75,467 6,789 Commissions Administration 750 4,500 3,750 13,775 31,250 17,475 Bonus Administration - - - 1,283 - (1,283) Overtime Wages 96 - (96) 3,083 - (3,083) Holiday Wages - - - 1,308 2,418 1,110 PTO 193 672 479 4,715 5,376 661 Training - - - 90 - (90) Retroactive - - - 186 - (186) ADMINISTRATION LABOR 27,665 30,435 2,770 209,997 238,434 28,437 Page 3 of 9

Inspired Living at Windermere (ilwm) Income Statement and Statement of Cash Flows One Month Ended and Eight Months Ended August 31, 2017 MTD Actual MTD Budget Variance PTD Actual PTD Budget Variance PAYROLL TAXES FICA Tax - 3,718 3,718-26,798 26,798 FUTA Tax - 77 77-616 616 SUI TAX - 347 347-2,776 2,776 FICA Tax - 4,466 4,466-32,211 32,211 FUTA Tax - 92 92-736 736 SUI TAX - 416 416-3,328 3,328 FICA Tax - 439 439-3,522 3,522 FUTA Tax - 7 7-56 56 SUI Tax - 32 32-256 256 FICA Tax - 439 439-3,522 3,522 FUTA Tax - 7 7-56 56 SUI TAX - 32 32-256 256 FICA Tax - 2,855 2,855-22,471 22,471 FUTA Tax - 54 54-432 432 SUI TAX - 244 244-1,952 1,952 FICA Tax - 613 613-4,795 4,795 FUTA Tax - 14 14-112 112 SUI TAX - 63 63-504 504 FICA Tax - 529 529-4,252 4,252 FUTA Tax - 7 7-56 56 SUI TAX - 32 32-256 256 FICA Tax - 156 156-1,238 1,238 FUTA Tax - 4 4-32 32 SUI TAX - 16 16-128 128 FICA Tax - 1,501 1,501-11,863 11,863 FUTA Tax - 11 11-88 88 SUI TAX - 47 47-376 376 FICA Tax 18,876 2,328 (16,548) 137,161 18,241 (118,920) FUTA Tax 459 26 (433) 4,657 208 (4,449) SUI TAX 2,064 118 (1,946) 20,894 944 (19,950) PAYROLL TAXES 21,399 18,690 (2,709) 162,712 142,081 (20,631) EMPLOYEE BENEFITS Employee Insurance - 2,970 2,970-23,760 23,760 Employee Hiring & Moving - - - - 750 750 Uniform Expense - - - (4) - 4 Employee Insurance - 3,645 3,645-29,160 29,160 Employee Hiring & Moving - - - 78 1,000 922 Uniform Expense - - - 544 - (544) Employee Insurance - 270 270-2,160 2,160 Employee Hiring & Moving - - - 78 - (78) Uniform Expense - - - 62 - (62) Employee Insurance - 270 270-2,160 2,160 Employee Hiring & Moving - - - - 500 500 Uniform Expense - - - 36 - (36) Employee Insurance - 2,160 2,160-17,280 17,280 Employee Hiring & Moving - - - 509 - (509) Uniform Expense - - - 602 - (602) Employee Insurance - 540 540-4,320 4,320 Uniform Expense - - - 32 - (32) Page 4 of 9

Inspired Living at Windermere (ilwm) Income Statement and Statement of Cash Flows One Month Ended and Eight Months Ended August 31, 2017 MTD Actual MTD Budget Variance PTD Actual PTD Budget Variance Employee Insurance - 270 270-2,160 2,160 Uniform Expense - - - 8 - (8) Employee Insurance - 135 135-1,080 1,080 Employee Hiring & Moving - - - - 250 250 Employee Insurance - 405 405-3,240 3,240 Employee Hiring & Moving - - - - 500 500 Uniform Expense - - - 11 - (11) Employee Insurance 7,182 1,080 (6,102) 68,782 8,640 (60,142) Other Employee Insurance 383 - (383) 2,857 - (2,857) Insurance - Life 59 - (59) 472 - (472) Employee Hiring & Moving 1,065 - (1,065) 25,366 250 (25,116) Uniform Expense 1,058 - (1,058) 8,505 - (8,505) EMPLOYEE BENEFITS 9,747 11,745 1,998 107,937 97,210 (10,727) WORKER'S COMPENSATION Worker's Compensation 7,213 6,684 (529) 55,254 50,554 (4,700) WORKER'S COMPENSATION 7,213 6,684 (529) 55,254 50,554 (4,700) TOTAL LABOR COST 292,480 259,906 (32,574) 2,166,555 1,974,920 (191,635) Allocation of Dining Expense 102 - (102) 369 - (369) Contract Services 482 - (482) 3,458 - (3,458) Forms & Printing - 150 150-1,200 1,200 Billable Medical Supplies 80 - (80) 95 - (95) Non-Billable Medical Supplies 1,195 1,191 (4) 4,814 9,877 5,063 Incontinency Supplies 1,262 1,272 10 14,273 5,466 (8,807) Infectious Waste Disposal - 100 100 115 800 685 Equipment Rental/Purchases - - - 188 - (188) Training & Education - - - 5 - (5) Travel - Local Mileage/Gas 149 - (149) 149 - (149) HEALTHCARE MC NON LABOR 3,270 2,713 (557) 23,467 17,343 (6,124) Contract Services 250 100 (150) 1,950 800 (1,150) Office Supplies Healthcare AL - - - - 300 300 Billable Medical Supplies - 1,648 1,648 53 10,545 10,492 Non-Billable Medical Supplies 901 133 (768) 3,082 1,343 (1,739) Incontinency Supplies 1,238 100 (1,138) 13,719 819 (12,900) Travel - Local Mileage/Gas 600 - (600) 836 - (836) HEALTHCARE AL NON LABOR 2,988 1,981 (1,007) 19,639 13,807 (5,832) Allocation of Dining Expense 286 - (286) 1,586 - (1,586) Entertainers 385 - (385) 2,765 - (2,765) Office Supplies Programming MC 56 - (56) 81 - (81) Activities & Travel Revenue (120) (200) (80) (3,539) (1,600) 1,939 Reimbursable Entertainment Exp 59 200 141 3,972 1,600 (2,372) Special Events - - - 486 - (486) Subscriptions 4 125 121 33 850 817 Resident Activities 317 697 380 2,215 4,247 2,032 Meals And Entertainment - Programming 225 - (225) 269 - (269) Equipment Rental/Purchases - 100 100 74 800 726 Training & Education - - - 40 165 125 Travel - Local Mileage/Gas - - - 109 - (109) Travel - Hotel - - - 179 - (179) PROGRAMMING MC NON LABOR 1,211 922 (289) 8,271 6,062 (2,209) Allocation of Dining Expense 270 - (270) 2,155 - (2,155) Page 5 of 9

Inspired Living at Windermere (ilwm) Income Statement and Statement of Cash Flows One Month Ended and Eight Months Ended August 31, 2017 MTD Actual MTD Budget Variance PTD Actual PTD Budget Variance Contract Services 16 25 9 172 200 28 Entertainers 520 600 80 3,655 4,325 670 Office Supplies Programming AL - - - 131 - (131) Forms & Printing - - - 66 - (66) Resident Gifts - - - 2 - (2) Reimbursable Entertainment Exp 71 - (71) 418 - (418) Special Events 270 500 230 1,596 3,525 1,929 Subscriptions 5 75 70 76 600 524 Resident Activities 215 505 290 2,576 2,517 (59) Travel - Local Mileage/Gas - - - 85 - (85) PROGRAMMING AL NON LABOR 1,366 1,705 339 10,930 11,167 237 Allocation of Dining Expense (1,546) - 1,546 (10,995) - 10,995 Guest Meals (3,015) - 3,015 (18,560) - 18,560 Employee Meals (107) - 107 (1,581) - 1,581 Raw Food 22,907 17,490 (5,417) 167,549 113,739 (53,810) Chemicals 1,370 1,072 (298) 7,319 7,772 453 Dishes / Utensils 844 982 138 3,620 8,384 4,764 Paper Goods 602 400 (202) 4,590 2,554 (2,036) Inventory Change - Mth - - - (106) - 106 Repairs & Maintenance Dining - - - 628 - (628) Contract Services 684 375 (309) 3,393 3,000 (393) Supplies Dining 844 800 (44) 8,845 3,580 (5,265) Linen Costs 1,361 1,042 (319) 7,895 6,341 (1,554) Equipment Rental/Purchases 192 400 208 2,204 3,200 996 Training & Education - 75 75-600 600 Travel - Meals & Entertainment - 35 35 173 280 107 Travel - Local Mileage/Gas - 35 35 935 280 (655) Travel - Hotel - - - 144 - (144) DINING NON LABOR 24,136 22,706 (1,430) 176,055 149,730 (26,325) Housekeeping Supplies 2,947 2,511 (436) 15,417 16,291 874 HOUSEKEEPING NON LABOR 2,947 2,511 (436) 15,417 16,291 874 Fire Inspection & Training 469 500 31 5,164 4,000 (1,164) Repairs & Maintenance 1,344 5,000 3,656 3,978 23,500 19,522 Between Tenant Renovations - - - 350 - (350) Minor Furniture & Fixtures 106 1,500 1,394 783 6,820 6,037 Pest Control - 350 350 2,663 2,800 137 Contract Services 725 1,500 775 5,422 17,300 11,878 Supplies Maintenance 1,513 1,069 (444) 5,182 9,169 3,987 Property landscaping 2,000 2,050 50 16,867 18,280 1,413 Equipment Rental/Purchases 504 - (504) 786 2,000 1,214 Meetings and Conferences Maintenance - - - 18 - (18) Travel - Meals & Entertainment - - - 56 100 44 Travel - Local Mileage/Gas - - - 225 - (225) Telephone - Cell - - - - 200 200 MAINTENANCE NON LABOR 6,662 11,969 5,307 41,493 84,169 42,676 Repairs & Maintenance Transportation - - - 568 - (568) Auto Exp - Gas 34 250 216 1,625 2,000 375 Automobile Expense (Other) 25 100 75 741 800 59 Travel - Local Mileage/Gas - - - 90 - (90) TRANSPORTATION NON LABOR 59 350 291 3,025 2,800 (225) Page 6 of 9

Inspired Living at Windermere (ilwm) Income Statement and Statement of Cash Flows One Month Ended and Eight Months Ended August 31, 2017 MTD Actual MTD Budget Variance PTD Actual PTD Budget Variance Collateral Printing 439 708 269 7,218 5,664 (1,554) Print Media Marketing 298 12,917 12,620 2,380 103,336 100,956 Direct Mail - - - 5,884 - (5,884) Direct Mail Postage - - - 7,306 - (7,306) Advertising Tracking - 83 83-664 664 Public Relations - - - 3,476 - (3,476) Digital Media Marketing 50 - (50) 2,698 - (2,698) Video Marketing - - - 7,709 - (7,709) Promotional Items - 292 292 1,831 2,336 505 Signage Marketing - 30 30-240 240 Internet Marketing - - - 3,090 - (3,090) Contract Services 2,435 - (2,435) 2,435 - (2,435) Supplies Marketing - - - 106 - (106) Office Supplies Marketing - - - 136 - (136) Forms and Printing Marketing - - - 245 - (245) Printing & Photography - 1,667 1,667 168 13,336 13,168 Subscriptions 50 - (50) 145 - (145) Meals and Entertainment Marketing - - - 200 - (200) Meetings and Conferences Marketing - - - 5 - (5) MARKETING NON LABOR 3,271 15,697 12,426 45,031 125,576 80,545 Allocation of Dining Expense 627 125 (502) 4,851 1,000 (3,851) Minor Furniture & Fixtures - - - 101 - (101) Creative Follow-up 667 300 (367) 2,295 2,400 105 Outreach/Community Relations - 625 625 2,375 5,000 2,625 Contract Services 500 600 100 4,000 4,800 800 Office Supplies Sales - - - 100 - (100) Forms & Printing - Sales - 1,000 1,000 290 8,000 7,710 Resident Gifts 255 375 120 740 3,000 2,260 Contributions - - - 695 - (695) Special Events 995 500 (495) 2,988 4,000 1,012 Memberships/Club Dues - 83 83-664 664 Postage & Freight - 42 42 53 336 283 Meals & Entertainment Sales - - - 1,253 - (1,253) Training & Education - 63 63-504 504 Meetings and Conferences Sales 13 - (13) 13 - (13) Employee Recognition / Awards 186 - (186) 622 - (622) Travel - Local Mileage/Gas - - - 162 - (162) SALES NON LABOR 3,243 3,713 470 20,538 29,704 9,166 Allocation of Dining Expense 263 - (263) 2,034 - (2,034) Minor Furniture & Fixtures - 725 725 4,142 4,425 283 Outreach/Community Relations - - - 73 - (73) Referrals 19,412 - (19,412) 99,841 - (99,841) Payroll Processing Fees 2,206 1,950 (256) 19,044 7,200 (11,844) Miscellaneous - - - 33 - (33) Contract Services 2,866 2,560 (306) 21,063 18,010 (3,053) Barber & Beauty Revenue (2,660) (2,560) 100 (20,603) (18,010) 2,593 Contract Services 145 - (145) 4,158 - (4,158) Supplies Administration 689 500 (189) 3,721 3,359 (362) Office Supplies Administration 360 750 390 6,189 5,500 (689) Forms & Printing 420 1,000 580 553 7,200 6,647 Page 7 of 9

Inspired Living at Windermere (ilwm) Income Statement and Statement of Cash Flows One Month Ended and Eight Months Ended August 31, 2017 MTD Actual MTD Budget Variance PTD Actual PTD Budget Variance Resident Gifts 90 - (90) 292 - (292) BW and Color Copies Administration 836 750 (86) 5,710 5,500 (210) Special Events 265 500 235 1,267 3,650 2,383 Memberships/Club Dues 480 - (480) 3,787 - (3,787) Subscriptions - - - 11 - (11) Software Support Fees 643 500 (143) 7,072 1,151 (5,921) Merchant Services Fees 51 - (51) 392 - (392) Postage & Freight 80 150 70 791 1,200 409 Delivery 198 250 52 518 1,750 1,232 Bank Fees 1,716 - (1,716) 3,863 - (3,863) Late Fees/Penalties/Srvc Chgs 96 - (96) 809 - (809) Licenses/Permits 812 600 (212) 5,579 4,400 (1,179) Meals & Entertainment 70 - (70) 1,126 - (1,126) Unallocated 874 - (874) 3,480 - (3,480) Lease Cost - Equipment 781 600 (181) 6,304 4,800 (1,504) Equipment Rental/Purchases - 350 350 (117) 2,800 2,917 Training & Education 695 500 (195) 3,046 3,000 (46) Meetings and Conferences - - - 192 - (192) Employee Recognition / Awards 1,097 500 (597) 11,584 3,000 (8,584) Travel - Meals & Entertainment - 300 300-2,400 2,400 Travel - Local Mileage/Gas 50 225 175 1,645 1,775 131 Travel - Hotel - - - 475 - (475) Telephone - Cell 499 500 1 3,851 4,000 149 Cable 1,395 1,450 55 10,055 8,850 (1,205) Internet 1,070 1,100 30 8,898 8,800 (98) Telephone 873 750 (123) 5,461 6,000 539 ADMINISTRATION NON LABOR 36,371 13,950 (22,421) 226,339 90,760 (135,579) HOME OFFICE ALLOCATIONS Corporate Allocation - Administration - 3,030 3,030 5,473 25,752 20,279 VSL Meals & Entertainment - - - 248 - (248) TOTAL HOME OFFICE ALLOCATIONS - 3,030 3,030 5,721 25,752 20,031 TOTAL NON LABOR COST 85,523 81,247 (4,276) 595,926 573,161 (22,765) TOTAL CONTROLLABLE COST 378,004 341,153 (36,851) 2,762,481 2,548,081 (214,400) UTILITIES Water & Sewer 2,917 1,861 (1,056) 36,182 12,305 (23,877) Trash Removal 705 900 195 5,641 5,950 309 Gas 1,130 816 (314) 11,514 5,393 (6,121) Electric 18,220 18,000 (220) 119,657 119,000 (657) UTILITIES 22,972 21,577 (1,395) 172,994 142,648 (30,346) PROFESSIONAL FEES Legal & Professional Fees - - - 100 - (100) PROFESSIONAL FEES - - - 100 - (100) MANAGEMENT FEES Management Fee Expense 34,994 25,000 (9,994) 239,783 200,000 (39,783) MANAGEMENT FEES 34,994 25,000 (9,994) 239,783 200,000 (39,783) PROPERTY TAXES Taxes - Real Estate (54) 27,083 27,137 185,327 216,664 31,337 Taxes - Personal Property 600 - (600) 4,800 - (4,800) PROPERTY TAXES 546 27,083 26,537 190,127 216,664 26,537 INSURANCE Page 8 of 9

Inspired Living at Windermere (ilwm) Income Statement and Statement of Cash Flows One Month Ended and Eight Months Ended August 31, 2017 MTD Actual MTD Budget Variance PTD Actual PTD Budget Variance TCOR - Personal Property - - - 584 - (584) Insurance - Property 4,787 4,678 (109) 38,295 37,424 (871) Insurance - Liability 2,348 5,448 3,100 18,823 43,584 24,761 Insurance - Automobile 709 671 (38) 4,074 5,368 1,294 Insurance - Excess Liability 2,311 - (2,311) 18,485 - (18,485) Insurance - Crime 91 - (91) 725 - (725) Insurance - EPLI 153 - (153) 1,225 - (1,225) Insurance - Other - - - 350 - (350) INSURANCE 10,398 10,797 399 82,562 86,376 3,814 TOTAL NON-CONTROLLABLE COSTS 68,910 84,457 15,547 685,566 645,688 (39,878) TOTAL EXPENSES 446,914 425,610 (21,304) 3,448,047 3,193,769 (254,278) NET OPERATING INCOME (LOSS) 136,334 61,829 74,505 503,768 46,040 457,728 NON OPERATING EXPENSES Non Operating Expenses 31,172 - (31,172) 35,972 - (35,972) NON OPERATING EXPENSES 31,172 - (31,172) 35,972 - (35,972) NET INCOME (LOSS) 105,162 61,829 43,333 467,796 46,040 421,756 Statement of Cash Flows: Net Income 105,162 467,796 (Increase) Decrease in Current Assets (11,837) 5,422 Increase (Decrease) in Current Liabilities (41,261) 158,847 Cash Provided by (Used in) Operations 52,064 632,065 Purchase of Fixed Assets (16,718) (29,375) Borrowings (Repayments) on Long-term debt - 103,002 Increase (Decrease) in Cash 35,345 705,692 Cash - beginning of period 951,803 281,456 Cash - end of period 987,148 987,148 Cash - Operating (Disbursements) 297,195 Cash - Revenue Depository 689,953 987,148 Occupancy as of August 31, 2017: Residents 110.00 Units 103.00 81.1% Page 9 of 9

Inspired Living at Windermere (ilwm) Balance Sheet August 31 2017 and July 31 2017 Balance Beginning Net Current Period Balance Change CASH Cash - Operating 297,195 463,123 (165,928) Cash - Revenue Depository 689,953 488,680 201,273 TOTAL CASH 987,148 951,803 35,345 ACCOUNTS RECEIVABLE - RESIDENTS A/R - Resident 40,570 31,068 9,502 A/R - Miscellaneous 2,252 15 2,237 TOTAL ACCOUNTS RECEIVABLE - RESIDENTS 42,821 31,083 11,738 DUE TO/FROM Due to/from Senior Living I, LLC (IRL) 854 854 - Due to/from Senior Living II, LLC (ILHL) 388 388 - Due to/from Senior Living III SRQ, LLC (ILS) 590 590 - Due to/from Senior Living IV Sun City, LLC (ILSC) 3,298 3,298 - Due to/from Senior Living VI Lakewood Ranch, LLC (ILLWR 2,726 2,726 - Due to/from Senior Living VII Tampa, LLC (ILT) 1,364 1,364 - Due to/from Validus Senior Living REIT IMC LLC (889) 1,599 (2,488) Due to/from Community Payroll, LLC (1,156) (1,156) - Due to/from Senior Living VIII Bonita Springs (ILBS) 1,085 1,085 - Due to/from Covington Senior Care Services, LLC (ILK) 1,377 1,377 - TOTAL DUE TO/FROM 9,638 12,126 (2,488) PREPAID EXPENSES AND OTHER ASSETS Inventory 6,318 6,318 - Prepaid AHCA 6,139 6,650 (512) Prepaid Insurance Business 9,034 10,398 (1,364) Prepaid Other 23,386 19,361 4,025 Prepaid Background Checks 1,095 657 438 TOTAL PREPAID EXPENSES AND OTHER ASSETS 45,971 43,384 2,587 RESTRICTED CASH Utility Deposits 2,510 2,510 - TOTAL RESTRICTED CASH 2,510 2,510 - FIXED ASSETS Land Improvements 18,494 18,494 - Building 1,650 1,650 - Furniture & Fixtures 41,958 41,958 - Equipment 203,332 186,613 16,718 Vehicles 40,650 40,650 - Computer Hardware 11,180 11,180 - Computer Software 6,300 6,300 - TOTAL FIXED ASSETS 323,563 306,845 16,718 TOTAL ASSETS 1,411,652 1,347,751 63,901 LIABILITIES & CAPITAL Page 1 of 2

Inspired Living at Windermere (ilwm) Balance Sheet August 31 2017 and July 31 2017 Balance Beginning Net Current Period Balance Change LIABILITIES ACCOUNTS PAYABLE Accounts Payable 45,254 51,591 (6,336) Accrued Accounts Payable 42,725 55,871 (13,146) TOTAL ACCOUNTS PAYABLE 87,979 107,461 (19,482) ACCRUED WAGES & BENEFITS Accrued Wages 47,866 136,497 (88,631) Accrued Vacation 22,515 22,515 - Employee Voluntary Life Insurance 333 294 39 Garnishment Withholding 253 400 (147) Short Term/Long Term Disability (52) (109) 58 Vision / Dental (94) (83) (11) HSA (48) 214 (262) TOTAL ACCRUED WAGES & BENEFITS 70,773 159,727 (88,954) ACCRUED EXPENSES Accrued Workers Comp - IBNR 7,257 7,064 193 P-Card Payable 16,398 4,956 11,442 Community Credit Cards - 320 (320) Prepaid Rent 239,767 184,453 55,315 Sales Tax Payable 339 339 - TOTAL ACCRUED EXPENSES 263,762 197,132 66,630 ACCRUED PROPERTY TAXES Accrued Real Estate Taxes (26,537) - (26,537) Accrued Property Taxes 216,664 189,581 27,083 TOTAL ACCRUED PROPERTY TAXES 190,127 189,581 546 ACCOUNTS PAYABLE-RELATED PARTY Due to/from Members 1,690,245 1,690,245 - TOTAL ACCOUNTS PAYABLE-RELATED PARTY 1,690,245 1,690,245 - TOTAL CURRENT LIABILITIES 2,302,886 2,344,147 (41,261) MEMBERS EQUITY Retained Earnings, Current (891,234) (996,396) 105,162 TOTAL MEMBERS EQUITY (891,234) (996,396) 105,162 TOTAL LIABILITIES & CAPITAL 1,411,652 1,347,751 63,901 Page 2 of 2

9:09 AM Senior Care Living V, LLC 09/26/17 Profit & Loss Accrual Basis August 2017 Aug 17 Ordinary Income/Expense Income 40149-0 Resident Services 40009-0 Inspired Standard Living AL 33,960.00 40010-0 Inspired Forever Program AL 283,808.12 40012-0 Second Occupant Revenue 3,600.00 40017-0 Inspired Forever Program 212,795.27 40018-0 Inspired Standard Program 44,860.99 40026-0 Community Fee Revenue 15,000.00 40029-0 Barber & Beauty Admin Revenue 286.60 40037-0 Medical Supplies/Serv. Revenue 39.47 40040-0 Incontinency Supplies Revenue 18,600.00 40053-0 Concessions-Miscellanous -2,202.98 40143-0 Concession-Marketing Specials -27,750.00 Total 40149-0 Resident Services 582,997.47 43000-0 Late Charges 50.00 50099-0 Ancillary Revenue 50046-0 Transportation Revenue 200.00 Total 50099-0 Ancillary Revenue 200.00 Total Income 583,247.47 Gross Profit 583,247.47 Expense 60001-02 Payroll Wage and Tax 6001502 Director Wages Healthcare MC 5,528.86 6003502 LPN Wages Healthcare MC 18,262.82 6004402 Care Givers Wages Healthcare MC 36,189.64 6004602 LPN Overtime Healthcare MC 871.43 6004702 Nursing Aides Overtime Healthca 1,822.77 6103302 PTO Healthcare MC 801.72 6104202 Bereavement 267.36 6104802 Retroactive Healthcare MC 503.20 Total 60001-02 Payroll Wage and Tax 64,247.80 60001-03 Payroll Wages and Tax 6001503 Director Wages Healthcare AL 6,003.56 6003503 LPN Wages 12,668.10 6004203 Private Duty Aides (Med Tech) 3,253.94 6004403 Care Givers Wages 41,824.54 6004603 LPN Overtime 1,917.25 6004703 Nursing Aides Overtime 1,842.74 6004803 Med Tech and Lead Med Tech Over 235.20 6100503 Commission Healthcare AL 750.00 Page 1

9:09 AM Senior Care Living V, LLC 09/26/17 Profit & Loss Accrual Basis August 2017 Aug 17 6101003 Bonus 100.00 6103303 PTO 726.07 6104803 Retroactive 876.46 Total 60001-03 Payroll Wages and Tax 70,197.86 60001-30 Payroll Wage and Tax 6001530 Director Wages Life Enrich MC 3,230.76 6009930 Staff Wages Activities MC 2,328.41 6101530 Overtime Wages Activities MC 144.21 Total 60001-30 Payroll Wage and Tax 5,703.38 60001-31 Activities AL Labor 6001531 Program Director Wages 3,606.91 6009931 Program Coordinators AL 3,470.40 6101531 Overtime Wages 15.13 Total 60001-31 Activities AL Labor 7,092.44 60001-32 Payroll Wage and Tax 6001532 Director Wages Dietary 4,865.38 6002032 Assistant Director Wages 2,978.57 6006032 Cooks Wages 7,803.37 6006532 Prep Staff Wages 3,618.38 6007032 Waitstaff Wages 16,204.35 6007532 Dishwashers Wages 2,962.94 6101032 Bonus Dietary 106.13 6101532 Overtime Wages Dietary 1,488.56 6103332 PTO Dietary 1,144.77 Total 60001-32 Payroll Wage and Tax 41,172.45 60001-34 Payroll Wage and Tax 6005134 Housekeeper Wages 9,423.44 6101534 Overtime Wages Housekeeping 174.43 6103334 PTO Housekeeping 163.65 Total 60001-34 Payroll Wage and Tax 9,761.52 60001-40 Payroll Wage and Tax 6001540 Director Wages Maintenance 4,857.19 6005240 Maintenance Wages 1,975.49 6101540 Overtime Wages -16.13 Total 60001-40 Payroll Wage and Tax 6,816.55 60001-42 Payroll Wage and Tax 6009242 Driver Wager 2,936.05 Page 2

9:09 AM Senior Care Living V, LLC 09/26/17 Profit & Loss Accrual Basis August 2017 Aug 17 Total 60001-42 Payroll Wage and Tax 2,936.05 60001-46 Payroll Wages & Tax 6001546 Director Wages 9,903.18 6008246 Move In Coordinator Wages 2,297.58 6100546 Commissions 5,950.00 6101546 Overtime Wages 11.39 6103346 PTO 366.48 Total 60001-46 Payroll Wages & Tax 18,528.63 60001-50 Payroll Wage and Tax 6001050 Executive Director Wages 8,979.09 6002550 Business Office Manager Wages 3,715.38 6002750 HR Generalist 4,333.53 6008550 Receptionist Wages 9,598.17 6100550 Commissions Administration 750.00 6101550 Overtime Wages Administration 95.88 6103350 PTO Administration 192.80 6105150 FICA Tax Administration 18,876.05 6105250 FUTA Tax Administration 458.68 6105350 SUI TAX Administration 2,064.04 Total 60001-50 Payroll Wage and Tax 49,063.62 63000-50 Employee Benefits 6300250 Employee Insurance Administrati 7,182.02 6300350 Other Employee Insurance 383.29 6300450 Insurance-Life Administration 59.40 6300750 Employee Hiring & Moving Admin 1,064.51 6300950 Uniform Expense Administration 1,058.03 Total 63000-50 Employee Benefits 9,747.25 63099-50 Employee Benefits 6400950 Worker's Compensation 7,212.93 Total 63099-50 Employee Benefits 7,212.93 73099-02 Healthcare MC NonLabor 7000102 Allocation of Dining Expense 101.52 7300802 Contract Services Healthcare MC 482.00 7302002 Billable Medical Sup Health MC 80.00 7302102 Non-Billable Medical Supplies H 1,195.30 7302202 Incontinent Supp Healthcare MC 1,261.74 7308202 Travel - Local Mileage/Gas Heal 149.00 Total 73099-02 Healthcare MC NonLabor 3,269.56 73099-03 Healthcare AL NonLabor Page 3

9:09 AM Senior Care Living V, LLC 09/26/17 Profit & Loss Accrual Basis August 2017 Aug 17 7300803 Contract Services 250.00 7302103 Non Billable Medical Supplies 900.52 7302203 Incontinency Supllies 1,237.96 7308203 Travel- Local Mileage/Gas 599.65 Total 73099-03 Healthcare AL NonLabor 2,988.13 73099-30 Activities MC NonLabor 5005700 Activities & Travel Revenue -119.65 7000130 Allocation of Dining Expense 285.80 7300930 Entertainers Activities MC 385.00 7301630 Office Supplies Activities MC 55.78 7302930 Reim Entertainment Exp Activtie 58.85 7304430 Subscriptions Activities MC 3.99 7304830 Resident Activities Activities 316.53 7306330 Meals and Entertainment-Program 225.19 Total 73099-30 Activities MC NonLabor 1,211.49 73099-31 Activities AL NonLabor 7000131 Allocation of Dining Expense 269.55 7300831 Contract Services 16.00 7300931 Entertainers 520.00 7302931 Reimbursable Entertainment Exp 70.65 7304131 Special Events 269.59 7304431 Subscriptions 5.00 7304831 Resident Activities 214.95 Total 73099-31 Activities AL NonLabor 1,365.74 73099-32 Dining MC NonLabor 5002300 Guest Meals -3,014.54 5002800 Employee Meals* -107.15 7000132 Allocation of Diet Exp -1,546.29 7000232 Raw Food 22,906.99 7000932 Chemicals 1,370.17 7001032 Dishes / Utensils 843.63 7001132 Paper Goods 601.82 7300832 Contract Services Dietary 684.03 7301532 Supplies Dietary 843.84 7303232 Linen Costs 1,361.48 7306932 Equipment Rental/Purchases Diet 191.63 Total 73099-32 Dining MC NonLabor 24,135.61 73099-34 Housekeeping NonLabor 7301534 Supplies Housekeeping 2,947.30 Total 73099-34 Housekeeping NonLabor 2,947.30 Page 4

9:09 AM Senior Care Living V, LLC 09/26/17 Profit & Loss Accrual Basis August 2017 Aug 17 73099-40 Maintenance NonLabor 7105040 Fire Inspection & Training 469.41 7105140 Repairs & Maintenance 1,344.31 7105340 Minor Furn. & Fix Maintenance 105.93 7300840 Contract Services Maintenance 725.00 7301540 Supplies Maintenance 1,513.20 7306240 Property Landscaping 2,000.00 7306940 Equip Rental/Purchases Main 503.66 Total 73099-40 Maintenance NonLabor 6,661.51 73099-42 TransportationNonLabor 7303542 Auto Exp - Gas Transportation 34.05 7303642 Automobile Expense (Other) 25.00 Total 73099-42 TransportationNonLabor 59.05 73099-44 Marketing NonLabor 7200244 Collateral Printing 438.76 7200444 Print Media Marketing 297.50 7201544 Digital Media Marketing 50.00 7300844 Contract Services Marketing 2,435.29 7304444 Subscriptions 49.86 Total 73099-44 Marketing NonLabor 3,271.41 73099-46 Sales NonLabor 7000146 Allocation of Dining Expense 626.73 7200146 Creative Follow-up 667.22 7300846 Contract Services 500.00 7301846 Resident Gifts 254.54 7304146 Special Events 995.00 7307846 Meetings and Confreneces Sales 12.89 7307946 Employee Recognition/Awards 186.32 Total 73099-46 Sales NonLabor 3,242.70 73099-50 Admin NonLabor 5004100 Barber & Beauty Revenue -2,660.00 7000150 Alloction of Diet Exp Admin 262.69 7201950 Referrals 19,412.30 7300250 Payroll Processing Fees 2,206.35 7300838 Contract Service Barber & Beaut 2,866.00 7300850 Contract Services Administratio 145.40 7301550 Supplies Administration 689.44 7301650 Office Supplies Administration 359.70 7301750 Forms & Printing Administration 419.90 7301850 Resident Gifts Administration 90.47 7303850 Copier Overage Admin 835.92 Page 5

9:09 AM Senior Care Living V, LLC 09/26/17 Profit & Loss Accrual Basis August 2017 Aug 17 7304150 Special Events Administration 264.87 7304350 Memberships/Club Dues 479.79 7305150 Software Support Fees Administr 642.69 7305350 Merchant Services Fees 50.95 7305550 Postage & Freight Admin 80.20 7305650 Delivery 197.73 7305750 Bank Fees 1,715.66 7306050 Late Fees / Penalties 95.86 7306150 Licenses/Permits 811.54 7306350 Meals & Entertainment 70.03 7306650 Unallocated / Uncoded P Card 874.42 7306850 Lease Cost-Equipment Admin 780.65 7307550 Training & Education Administra 694.79 7307950 Emp Recognition / Awards Admin 1,096.70 7308250 Travel - Local Mileage/Gas Admi 50.00 7309050 Telephone - Cell Administration 499.03 7309150 Cable 1,394.86 7309250 Internet Administration 1,069.51 7309350 Telephone 873.17 Total 73099-50 Admin NonLabor 36,370.62 74000-00 Utilities 7400160 Water & Sewer 2,916.78 7400260 Trash Removal 705.16 7400360 Gas 1,129.81 7400460 Electric 18,220.23 Total 74000-00 Utilities 22,971.98 74059-00 Taxes & Management Fee 7404980 Management Fee Expense 34,993.95 7405080 Taxes-Real Estate -54.09 7405180 Taxes-Personal Property 600.00 Total 74059-00 Taxes & Management Fee 35,539.86 74060-00 Insurance 7407180 Insurance - Property 4,786.90 7407280 insurance- Liability 2,348.33 7407380 Insurance - Automobile 708.76 7407480 Insurance- Excess 2,310.64 7407580 Insurance-Crime 90.64 7407780 Insurance-EPLI 153.17 Total 74060-00 Insurance 10,398.44 86030-00 Extraordinary Items Page 6

9:09 AM Senior Care Living V, LLC 09/26/17 Profit & Loss Accrual Basis August 2017 Aug 17 8603490 Non Operating Expenses 31,171.89 Total 86030-00 Extraordinary Items 31,171.89 Total Expense 478,085.77 Net Ordinary Income 105,161.70 Other Income/Expense Other Income 80000-0 Dividend/Interest 129.96 Total Other Income 129.96 Other Expense 60000-0 BB&T- Bank Service Charge 5.00 Total Other Expense 5.00 Net Other Income 124.96 Net Income 105,286.66 Page 7

9:11 AM Senior Care Living V, LLC 09/26/17 Balance Sheet Accrual Basis As of August 31, 2017 Aug 31, 17 ASSETS Current Assets Checking/Savings 10000-1 Total Bonds 0722 BB&T-Bond Fund 2,636,385.59 0795 BB&T- 2015B-1 DSRF -3,477.01 Total 10000-1 Total Bonds 2,632,908.58 10000-2 Total Cash 11001-0 Cash - Operating 6124 1,530.52 11002-0 Cash-BB&T DACA 5779 677,761.40 11003-0 Cash Validus 449,616.22 11004-0 Outstanding Checks and Deposits -140,229.34 Total 10000-2 Total Cash 988,678.80 Total Checking/Savings 3,621,587.38 Other Current Assets 13010-00 Total AR Residents 13001-0 AR Resident 40,569.75 13007-0 AR Miscellaneous 2,251.52 Total 13010-00 Total AR Residents 42,821.27 12000-0 Work In Progress 12100-0 Development Cost - Soft Costs 46,798.94 Total 12000-0 Work In Progress 46,798.94 13999-0 Total Due TO/FROM 13101-0 Due To/From Senior Living I-IRL 854.26 13102-0 Due to/from Hidden Lakes 387.94 13103-0 Due to/from Senior Living III 710.35 13105-0 Due to/from Sun City 3,298.15 13107-0 Due to/from SL VI LWR 2,725.56 13108-0 Due to/from SL VII Tampa (ILT) 1,363.84 13701-0 Due to/from Validus SL REIT IMC -889.05 13703-0 Due to/from Community Payroll, 84.32 13809-0 Due to/from SL VIII Bonita Spri 1,084.86 13810-0 Due to/from Covington Senior 1,377.46 Total 13999-0 Total Due TO/FROM 10,997.69 14027-0 Prepaid Federal Taxes 570.00 14078-0 Prepaid Expenses and Other Asse 14001-0 Inventory 6,317.56 14012-0 Prepaid AHCA 6,138.52 14015-0 Prepaid Insurance Buisness 9,034.37 14022-0 Prepaid Other 23,385.53 14026-0 Prepaid Background Checks 1,094.89 Total 14078-0 Prepaid Expenses and Other Asse 45,970.87 BBK11 Deferred Income Tax Assets 1,180,793.00 BBK4 Accumulated Amortization -94,589.00 Total Other Current Assets 1,233,362.77 Total Current Assets 4,854,950.15 Fixed Assets 14500-0 Land 14550-0 Closing Costs 69,939.60 14500-0 Land - Other 1,830,000.00 Total 14500-0 Land 1,899,939.60 15019-0 Total Fixed Assets Page 1

9:11 AM Senior Care Living V, LLC 09/26/17 Balance Sheet Accrual Basis As of August 31, 2017 Aug 31, 17 15002-0 Land Improvments 18,493.87 15003-0 Building 23,239,104.38 15006-0 Furniture & Fixtures 701,188.67 15007-0 Equipment 203,331.55 15008-0 Vehicles 104,561.00 15009-0 Computer Hardware 11,180.03 15010-0 Computer Software 6,300.00 Total 15019-0 Total Fixed Assets 24,284,159.50 17000-0 Accumulated Depreciation -338,359.00 Total Fixed Assets 25,845,740.10 Other Assets 14098-0 Utility Deposits 2,510.00 17510-0 Cost of Issuance Expenses 750,145.26 17520-0 Underwriter's Discount 00 Series A (Tax-exempt) 642,500.00 01 Series B-1 (Tax-exempt) 60,250.00 18700 Series B-2 (Taxable) 103,942.48 Total 17520-0 Underwriter's Discount 806,692.48 Total Other Assets 1,559,347.74 TOTAL ASSETS 32,260,037.99 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 20010-0 Accounts Payable 45,070.25 Total Accounts Payable 45,070.25 Other Current Liabilities 20015-0 Due to/from Covington -4,658.00 20021-0 Accrued Accounts Payable 34,949.16 21099-0 Total Accrued Wages & Benefits 21005-0 Accrued Wages 47,866.05 21010-0 Accrued Vacation 22,514.51 21017-0 Employee Voluntary Life Ins 332.96 21020-0 Garnishment Withholding 253.41 21023-0 Short Term/Long Term Disability -51.63 21024-0 Visual/Dental -94.42 21025-0 HSA 1,311.86 Total 21099-0 Total Accrued Wages & Benefits 72,132.74 22039-0 Total Accrued Expenses 22008-0 Accrued Workers Comp-IBNR 7,256.88 22018-0 P-Card Payable 16,398.38 22020-0 Prepaid Rent 239,767.39 22026-0 Sales Tax Payable 339.11 22034-0 Deferred Forever Revenue 8,786.58 Total 22039-0 Total Accrued Expenses 272,548.34 22042-0 Accrued Property Taxes Payable 22041-0 Accrued Real Estate Taxes -26,537.09 22042-0 Accrued Property Taxes Payable - Other 216,664.00 Total 22042-0 Accrued Property Taxes Payable 190,126.91 BBK12 Deferred Income Tax Liability 222,806.00 BBK8 Bond Interest Payable B-2 1,151,241.00 BBK9 Bond Interest Payable 176,574.00 Page 2

9:11 AM Senior Care Living V, LLC 09/26/17 Balance Sheet Accrual Basis As of August 31, 2017 Aug 31, 17 Total Other Current Liabilities 2,115,720.15 Total Current Liabilities 2,160,790.40 Long Term Liabilities 23000-0 Bonds Payable (Par Amount) 06 Original Issue Disc Series A -1,172,238.71 07 Series A (Tax-exempt) 25,700,000.00 08 Series B-1 (Tax-exempt) 2,410,000.00 09 Series B-2 (Taxable) 4,157,699.00 Total 23000-0 Bonds Payable (Par Amount) 31,095,460.29 Total Long Term Liabilities 31,095,460.29 Total Liabilities 33,256,250.69 Equity 32000-0 Retained Earnings -2,022,019.30 33000-0 Bouldin Equity 1,636,259.90 BBK7 Shares Issued at Par 100.00 Net Income -610,553.30 Total Equity -996,212.70 TOTAL LIABILITIES & EQUITY 32,260,037.99 Page 3