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

Senior Care Living V, LLC (Inspired Living at Windermere,FL) 8380 Bay Pines Blvd., Floor St. Petersburg, FL 33709 08/24/2017 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 0812412017 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 II, Inc.- Manager

Balance Sheet July 31 2017 and June 30, 2017 Balance Beginning Net Current Period Balance Change CASH Cash - Operating 463,123 22,112 441,011 Cash - Revenue Depository 488,680 816,865 (328,185) TOTAL CASH 951,803 838,977 112,826 ACCOUNTS RECEIVABLE - RESIDENTS A/R - Resident 31,068 37,638 (6,570) A/R - Miscellaneous 15 5,035 (5,020) TOTAL ACCOUNTS RECEIVABLE - RESIDENTS 31,083 42,673 (11,591) 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 1,599 1,333 266 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 12,126 11,860 266 PREPAID EXPENSES AND OTHER ASSETS Inventory 6,318 6,318 - Prepaid AHCA 6,650 7,162 (512) Prepaid Insurance Business 10,398 16,273 (5,875) Prepaid Other 19,361 21,124 (1,763) Prepaid Background Checks 657 355 302 TOTAL PREPAID EXPENSES AND OTHER ASSETS 43,384 51,231 (7,847) 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 186,613 180,600 6,013 Vehicles 40,650 40,650 - Computer Hardware 11,180 11,180 - Computer Software 6,300 6,300 - TOTAL FIXED ASSETS 306,845 300,832 6,013 TOTAL ASSETS 1,347,751 1,248,084 99,667 LIABILITIES & CAPITAL Page 1 of 2

Balance Sheet July 31 2017 and June 30, 2017 Balance Beginning Net Current Period Balance Change LIABILITIES ACCOUNTS PAYABLE Accounts Payable 51,591 54,150 (2,559) Accrued Accounts Payable 55,871 40,335 15,535 TOTAL ACCOUNTS PAYABLE 107,461 94,485 12,976 ACCRUED WAGES & BENEFITS Accrued Wages 136,497 102,790 33,707 Commissions Payable - 10,100 (10,100) Accrued Vacation 22,515 22,515 - Employee Voluntary Life Insurance 294 302 (8) Garnishment Withholding 400 373 27 Short Term/Long Term Disability (109) (53) (56) Vision / Dental (83) 36 (119) HSA 214 260 (47) TOTAL ACCRUED WAGES & BENEFITS 159,727 136,323 23,404 ACCRUED EXPENSES Accrued Workers Comp - IBNR 7,064 6,904 160 P-Card Payable 4,956 4,348 608 Community Credit Cards 320-320 Prepaid Rent 184,453 250,842 (66,389) Sales Tax Payable 339 339 - TOTAL ACCRUED EXPENSES 197,132 262,433 (65,301) ACCRUED PROPERTY TAXES Accrued Property Taxes 189,581 162,498 27,083 TOTAL ACCRUED PROPERTY TAXES 189,581 162,498 27,083 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 2,344,147 2,345,985 (1,838) MEMBERS EQUITY Retained Earnings, Current (996,396) (1,097,901) 101,505 TOTAL MEMBERS EQUITY (996,396) (1,097,901) 101,505 TOTAL LIABILITIES & CAPITAL 1,347,751 1,248,084 99,667 Page 2 of 2

Income Statement and Statement of Cash Flows One Month Ended and Seven Months Ended July 31, 2017 MTD Actual MTD Budget Variance PTD Actual PTD Budget Variance MEMORY CARE - FOREVER REVENUE Inspired Forever Program MC 220,538 119,550 100,988 1,281,156 836,850 444,306 MEMORY CARE - FOREVER REVENUE 220,538 119,550 100,988 1,281,156 836,850 444,306 MEMORY CARE - STANDARD REVENUE Inspired Standard Program MC 39,344 73,166 (33,822) 171,178 303,984 (132,806) MEMORY CARE - STANDARD REVENUE 39,344 73,166 (33,822) 171,178 303,984 (132,806) ASSISTED LIVING - FOREVER REVENUE Inspired Forever Program AL 263,340 142,895 120,445 1,651,582 1,000,265 651,317 ASSISTED LIVING - FOREVER REVENUE 263,340 142,895 120,445 1,651,582 1,000,265 651,317 ASSISTED LIVING -STANDARD REVENUE Level 1 - - - 1,663-1,663 Level 2-8,000 (8,000) - 29,600 (29,600) Level 3-4,800 (4,800) - 21,600 (21,600) Inspired Standard Program AL 31,670 96,643 (64,973) 173,405 431,372 (257,967) ASSISTED LIVING -STANDARD REVENUE 31,670 109,443 (77,773) 175,068 482,572 (307,504) SECOND OCCUPANT REVENUE Second Occupant Revenue 1,358 1,200 158 8,558 8,400 158 SECOND OCCUPANT REVENUE 1,358 1,200 158 8,558 8,400 158 COMMUNITY FEES Community Fee Revenue 24,000 18,000 6,000 171,099 118,000 53,099 COMMUNITY FEES 24,000 18,000 6,000 171,099 118,000 53,099 CONCESSIONS Concession-Miscellaneous (7,522) - (7,522) (31,639) - (31,639) Concession - Marketing Specials (31,750) - (31,750) (201,046) - (201,046) CONCESSIONS (39,272) - (39,272) (232,684) - (232,684) INCONTINENCE REVENUE Incontinence Supplies Revenue 18,200-18,200 110,456-110,456 INCONTINENCE REVENUE 18,200-18,200 110,456-110,456 ANCILLARY REVENUE Barber & Beauty Administrative Revenue 111-111 1,571-1,571 Respite Revenue 9,150-9,150 18,700-18,700 Guest Apartments 625-625 7,525-7,525 Late Charges - - - 300-300 Tray Service Revenue - - - 240-240 Contract Processing Fee - - - 70-70 Pet Service/Fee Revenue - - - 1,000-1,000 Transportation Revenue - - - 50-50 Rebates 98 398 (300) 2,683 2,299 384 Billable Supplies Revenue 15-15 15-15 ANCILLARY REVENUE 9,999 398 9,601 32,154 2,299 29,855 TOTAL REVENUE 569,176 464,652 104,524 3,368,567 2,752,370 616,197 PAYROLL WAGES Director Wages 2,885 4,637 1,752 24,146 32,298 8,152 RN Wages - 715 715 4,090 4,865 775 LPN Wages 15,126 14,297 (829) 79,923 97,294 17,371 Page 1 of 10

Income Statement and Statement of Cash Flows One Month Ended and Seven Months Ended July 31, 2017 MTD Actual MTD Budget Variance PTD Actual PTD Budget Variance Nursing Aides Wages (CNA/STNA) - 17,260 17,260 17,016 85,071 68,055 Private Duty Aides (Med Tech) - 2,145 2,145 4,831 14,594 9,763 Care Givers Wages 33,152 8,650 (24,502) 184,668 58,864 (125,804) RN Overtime - - - 64 - (64) LPN Overtime 1,005 - (1,005) 4,592 - (4,592) Nursing Aides Overtime 1,109 - (1,109) 6,050 - (6,050) Commission Healthcare MC (1,000) - 1,000 - - - Bonus Healthcare MC 14 - (14) 800 - (800) Holiday Wages 2,106 985 (1,121) 5,381 2,955 (2,426) PTO 273 821 548 3,390 5,747 2,357 Bereavement - - - 264 - (264) Retroactive - - - 320 - (320) HEALTHCARE MC LABOR 54,670 49,510 (5,160) 335,537 301,688 (33,849) PAYROLL WAGES Director Wages 5,482 5,606 125 39,204 39,050 (154) LPN Wages 18,101 15,012 (3,089) 146,492 102,160 (44,332) Nursing Aides Wages (CNA/STNA) - 22,634 22,634 8,348 115,885 107,537 Private Duty Aides (Med Tech) 2,300 - (2,300) 9,217 - (9,217) Care Givers Wages 37,181 14,155 (23,026) 178,779 96,323 (82,456) LPN Overtime 1,484 - (1,484) 8,545 - (8,545) Nursing Aides Overtime 1,787 - (1,787) 8,128 - (8,128) Med Tech and Lead Med Tech Overtime 56 - (56) 136 - (136) Commission Healthcare AL 2,375 - (2,375) 2,375 - (2,375) Bonus 114 - (114) 2,200 - (2,200) Holiday Wages 2,680 1,046 (1,634) 6,920 3,138 (3,782) PTO 846 872 26 6,010 6,104 94 Bereavement 480 - (480) 642 - (642) Retroactive - - - 805 - (805) HEALTHCARE AL LABOR 72,885 59,325 (13,560) 417,801 362,660 (55,141) PAYROLL WAGES Program Director Wages - 3,372 3,372 18,502 23,489 4,987 Program Coordinator Wages 3,420 2,145 (1,275) 15,831 14,594 (1,237) Overtime Wages 744 - (744) 1,396 - (1,396) Holiday Wages 207 250 43 400 750 350 PTO 353 208 (145) 1,097 1,456 359 Retroactive - - - 63 - (63) PROGRAMMING MC LABOR 4,725 5,975 1,250 37,289 40,289 3,000 PAYROLL WAGES Program Director Wages 3,293 3,372 79 23,247 23,489 242 Program Coordinators AL 3,334 2,145 (1,189) 15,996 14,594 (1,402) Bonus 116 - (116) 116 - (116) Overtime Wages 41 - (41) 587 - (587) Holiday Wages 97 250 153 294 750 456 PTO - 208 208 500 1,456 956 Bereavement - - - 314 - (314) Page 2 of 10

Income Statement and Statement of Cash Flows One Month Ended and Seven Months Ended July 31, 2017 MTD Actual MTD Budget Variance PTD Actual PTD Budget Variance Retroactive - - - 65 - (65) PROGRAMMING AL LABOR 6,881 5,975 (906) 41,119 40,289 (830) PAYROLL WAGES Director Wages 4,442 4,637 195 19,250 32,298 13,048 Assistant Director Wages 2,740 3,664 924 23,731 24,934 1,203 Cooks Wages 10,560 10,873 313 76,675 73,993 (2,682) Chefs Wages - - - 1,058 - (1,058) Prep Staff Wages 1,867 2,234 367 2,970 15,202 12,232 Waitstaff Wages 17,634 15,282 (2,352) 113,496 103,998 (9,498) Dishwashers Wages 665 - (665) 8,068 - (8,068) Bonus - - - 84 - (84) Overtime Wages 3,147 - (3,147) 18,106 - (18,106) Holiday Wages 1,600 678 (922) 4,536 2,034 (2,502) PTO 1,042 565 (477) 3,595 3,955 360 Retroactive - - - 1,364 - (1,364) DINING LABOR 43,699 37,933 (5,766) 272,933 256,414 (16,519) PAYROLL WAGES Housekeeper Wages 9,768 7,921 (1,847) 59,911 53,903 (6,008) Overtime Wages 185 - (185) 1,544 - (1,544) Holiday Wages 468 89 (379) 1,155 267 (888) PTO 135 74 (61) 1,871 518 (1,353) Bereavement - - - 594 - (594) Retroactive - - - 62 - (62) HOUSEKEEPING LABOR 10,557 8,084 (2,473) 65,137 54,688 (10,449) PAYROLL WAGES Director Wages 4,435 4,553 118 31,749 31,712 (37) Maintenance Wages 2,184 2,100 (84) 16,998 14,290 (2,708) Overtime Wages 132 - (132) 226 - (226) Holiday Wages 104 302 198 302 906 604 PTO - 252 252 487 1,764 1,277 Retroactive - - - 62 - (62) MAINTENANCE LABOR 6,855 7,207 352 49,824 48,672 (1,152) PAYROLL WAGES Driver Wages 2,162 1,966 (196) 10,251 13,377 3,126 Holiday Wages - 88 88-264 264 PTO - 73 73-511 511 TRANSPORTATION LABOR 2,162 2,127 (35) 10,251 14,152 3,901 PAYROLL WAGES Director Wages 9,042 9,274 232 63,865 64,595 730 Move In Coordinator Wages 2,564 2,681 117 19,996 18,242 (1,754) Commissions 9,375 7,200 (2,175) 85,675 47,800 (37,875) Bonus Marketing - - - 1,730 - (1,730) Overtime Wages 117 - (117) 1,125 - (1,125) Holiday Wages 122 543 421 364 1,629 1,265 PTO 31 453 422 1,379 3,171 1,792 Page 3 of 10

Income Statement and Statement of Cash Flows One Month Ended and Seven Months Ended July 31, 2017 MTD Actual MTD Budget Variance PTD Actual PTD Budget Variance Retroactive - - - 172 - (172) SALES LABOR 21,250 20,151 (1,099) 174,307 135,437 (38,870) PAYROLL WAGES Executive Director Wages 8,198 8,431 233 57,547 58,723 1,176 Business Office Director Wages 3,392 3,035 (357) 13,928 21,140 7,212 HR Generalist 3,957 4,089 132 28,375 28,480 105 Receptionist Wages 9,532 9,667 135 59,080 65,784 6,704 Commissions Administration 1,375 4,500 3,125 13,025 26,750 13,725 Bonus Administration - - - 1,283 - (1,283) Overtime Wages 60 - (60) 2,987 - (2,987) Holiday Wages 443 806 363 1,308 2,418 1,110 PTO 96 672 576 4,522 4,704 182 Training - - - 90 - (90) Retroactive - - - 186 - (186) ADMINISTRATION LABOR 27,053 31,200 4,147 182,332 207,999 25,667 PAYROLL TAXES FICA Tax - 3,788 3,788-23,080 23,080 FUTA Tax - 77 77-539 539 SUI TAX - 347 347-2,429 2,429 FICA Tax - 4,538 4,538-27,745 27,745 FUTA Tax - 92 92-644 644 SUI TAX - 416 416-2,912 2,912 FICA Tax - 457 457-3,083 3,083 FUTA Tax - 7 7-49 49 SUI Tax - 32 32-224 224 FICA Tax - 457 457-3,083 3,083 FUTA Tax - 7 7-49 49 SUI TAX - 32 32-224 224 FICA Tax - 2,902 2,902-19,616 19,616 FUTA Tax - 54 54-378 378 SUI TAX - 244 244-1,708 1,708 FICA Tax - 618 618-4,182 4,182 FUTA Tax - 14 14-98 98 SUI TAX - 63 63-441 441 FICA Tax - 551 551-3,723 3,723 FUTA Tax - 7 7-49 49 SUI TAX - 32 32-224 224 FICA Tax - 163 163-1,082 1,082 FUTA Tax - 4 4-28 28 SUI TAX - 16 16-112 112 FICA Tax - 1,541 1,541-10,362 10,362 FUTA Tax - 11 11-77 77 SUI TAX - 47 47-329 329 FICA Tax 19,292 2,387 (16,905) 118,285 15,913 (102,372) FUTA Tax 435 26 (409) 4,198 182 (4,016) Page 4 of 10

Income Statement and Statement of Cash Flows One Month Ended and Seven Months Ended July 31, 2017 MTD Actual MTD Budget Variance PTD Actual PTD Budget Variance SUI TAX 1,957 118 (1,839) 18,830 826 (18,004) PAYROLL TAXES 21,684 19,048 (2,636) 141,313 123,391 (17,922) EMPLOYEE BENEFITS Employee Insurance - 2,970 2,970-20,790 20,790 Employee Hiring & Moving - - - - 750 750 Uniform Expense - - - (4) - 4 Employee Insurance - 3,645 3,645-25,515 25,515 Employee Hiring & Moving - 250 250 78 1,000 922 Uniform Expense - - - 544 - (544) Employee Insurance - 270 270-1,890 1,890 Employee Hiring & Moving - - - 78 - (78) Uniform Expense - - - 62 - (62) Employee Insurance - 270 270-1,890 1,890 Employee Hiring & Moving - - - - 500 500 Uniform Expense - - - 36 - (36) Employee Insurance - 2,160 2,160-15,120 15,120 Employee Hiring & Moving - - - 509 - (509) Uniform Expense - - - 602 - (602) Employee Insurance - 540 540-3,780 3,780 Uniform Expense - - - 32 - (32) Employee Insurance - 270 270-1,890 1,890 Uniform Expense - - - 8 - (8) Employee Insurance - 135 135-945 945 Employee Hiring & Moving - - - - 250 250 Employee Insurance - 405 405-2,835 2,835 Employee Hiring & Moving - - - - 500 500 Uniform Expense - - - 11 - (11) Employee Insurance 8,966 1,080 (7,886) 61,600 7,560 (54,040) Other Employee Insurance 339 - (339) 2,474 - (2,474) Insurance - Life 64 - (64) 413 - (413) Employee Hiring & Moving 701 - (701) 24,301 250 (24,051) Uniform Expense 753 - (753) 7,447 - (7,447) EMPLOYEE BENEFITS 10,821 11,995 1,174 98,190 85,465 (12,725) WORKER'S COMPENSATION Worker's Compensation 7,020 6,825 (195) 48,041 43,870 (4,171) WORKER'S COMPENSATION 7,020 6,825 (195) 48,041 43,870 (4,171) TOTAL LABOR COST 290,263 265,355 (24,908) 1,874,074 1,715,014 (159,060) Allocation of Dining Expense - - - 267 - (267) Contract Services 482 - (482) 2,976 - (2,976) Forms & Printing - 150 150-1,050 1,050 Billable Medical Supplies 15 - (15) 15 - (15) Non-Billable Medical Supplies 573 1,191 618 3,619 8,686 5,067 Incontinency Supplies 2,232 1,117 (1,115) 13,011 4,194 (8,817) Infectious Waste Disposal 54 100 46 115 700 585 Equipment Rental/Purchases - - - 188 - (188) Page 5 of 10

Income Statement and Statement of Cash Flows One Month Ended and Seven Months Ended July 31, 2017 MTD Actual MTD Budget Variance PTD Actual PTD Budget Variance Training & Education - - - 5 - (5) HEALTHCARE MC NON LABOR 3,356 2,558 (798) 20,197 14,630 (5,567) Contract Services 250 100 (150) 1,700 700 (1,000) Office Supplies Healthcare AL - - - - 300 300 Billable Medical Supplies - 1,568 1,568 53 8,897 8,844 Non-Billable Medical Supplies 95 266 171 2,181 1,210 (971) Incontinency Supplies 2,148 100 (2,048) 12,481 719 (11,762) Travel - Local Mileage/Gas - - - 236 - (236) HEALTHCARE AL NON LABOR 2,493 2,034 (459) 16,651 11,826 (4,825) Allocation of Dining Expense 142 - (142) 1,300 - (1,300) Entertainers 415 - (415) 2,380 - (2,380) Office Supplies Programming MC - - - 25 - (25) Activities & Travel Revenue (678) (200) 478 (3,419) (1,400) 2,019 Reimbursable Entertainment Exp 1,160 200 (960) 3,914 1,400 (2,514) Special Events 99 - (99) 486 - (486) Subscriptions 4 125 121 29 725 696 Resident Activities 452 645 193 1,898 3,550 1,652 Meals And Entertainment - Programming - - - 44 - (44) Equipment Rental/Purchases - 100 100 74 700 626 Training & Education - - - 40 165 125 Travel - Local Mileage/Gas - - - 109 - (109) Travel - Hotel - - - 179 - (179) PROGRAMMING MC NON LABOR 1,594 870 (724) 7,060 5,140 (1,920) Allocation of Dining Expense 264 - (264) 1,886 - (1,886) Contract Services (18) 25 43 156 175 19 Entertainers 610 675 65 3,135 3,725 590 Office Supplies Programming AL 114 - (114) 131 - (131) Forms & Printing - - - 66 - (66) Resident Gifts - - - 2 - (2) Reimbursable Entertainment Exp 103 - (103) 347 - (347) Special Events 363 400 37 1,326 3,025 1,699 Subscriptions 5 75 70 71 525 454 Resident Activities 580 453 (127) 2,361 2,012 (349) Travel - Local Mileage/Gas - - - 85 - (85) PROGRAMMING AL NON LABOR 2,021 1,628 (393) 9,564 9,462 (102) Allocation of Dining Expense (1,561) - 1,561 (9,449) - 9,449 Guest Meals (2,520) - 2,520 (15,545) - 15,545 Employee Meals (154) - 154 (1,474) - 1,474 Raw Food 22,391 16,625 (5,766) 144,642 96,249 (48,393) Chemicals 1,032 975 (57) 5,949 6,700 751 Dishes / Utensils 209 1,212 1,003 2,776 7,402 4,626 Paper Goods 606 400 (206) 3,988 2,154 (1,834) Inventory Change - Mth - - - (106) - 106 Repairs & Maintenance Dining 346 - (346) 628 - (628) Contract Services 607 375 (232) 2,709 2,625 (84) Page 6 of 10

Income Statement and Statement of Cash Flows One Month Ended and Seven Months Ended July 31, 2017 MTD Actual MTD Budget Variance PTD Actual PTD Budget Variance Supplies Dining 2,457 650 (1,807) 8,001 2,780 (5,221) Linen Costs 648 1,014 366 6,534 5,299 (1,235) Equipment Rental/Purchases 315 400 85 2,013 2,800 787 Training & Education - 75 75-525 525 Travel - Meals & Entertainment - 35 35 173 245 72 Travel - Local Mileage/Gas - 35 35 935 245 (690) Travel - Hotel - - - 144 - (144) DINING NON LABOR 24,377 21,796 (2,581) 151,919 127,024 (24,895) Housekeeping Supplies 2,212 2,385 173 12,470 13,780 1,310 HOUSEKEEPING NON LABOR 2,212 2,385 173 12,470 13,780 1,310 Fire Inspection & Training 469 500 31 4,694 3,500 (1,194) Repairs & Maintenance 1,066 5,000 3,934 2,633 18,500 15,867 Between Tenant Renovations 200 - (200) 350 - (350) Minor Furniture & Fixtures (200) 1,500 1,700 677 5,320 4,643 Pest Control 350 350 0 2,663 2,450 (213) Contract Services 1,295 1,500 205 4,697 15,800 11,103 Supplies Maintenance 116 1,372 1,256 3,668 8,100 4,432 Property landscaping 2,205 2,050 (155) 14,867 16,230 1,363 Equipment Rental/Purchases 282 - (282) 282 2,000 1,718 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 5,782 12,272 6,490 34,832 72,200 37,368 Repairs & Maintenance Transportation - - - 568 - (568) Auto Exp - Gas 298 250 (48) 1,591 1,750 159 Automobile Expense (Other) 13 100 87 716 700 (16) Travel - Local Mileage/Gas - - - 90 - (90) TRANSPORTATION NON LABOR 311 350 39 2,966 2,450 (516) Collateral Printing 878 708 (170) 6,779 4,956 (1,823) Print Media Marketing 298 12,917 12,620 2,083 90,419 88,337 Direct Mail - - - 5,884 - (5,884) Direct Mail Postage - - - 7,306 - (7,306) Advertising Tracking - 83 83-581 581 Public Relations - - - 3,476 - (3,476) Digital Media Marketing - - - 2,648 - (2,648) Video Marketing - - - 7,709 - (7,709) Promotional Items 845 292 (553) 1,831 2,044 213 Signage Marketing - 30 30-210 210 Internet Marketing - - - 3,090 - (3,090) Supplies Marketing - - - 106 - (106) Office Supplies Marketing - - - 136 - (136) Forms and Printing Marketing - - - 245 - (245) Printing & Photography - 1,667 1,667 168 11,669 11,501 Subscriptions 46 - (46) 95 - (95) Page 7 of 10

Income Statement and Statement of Cash Flows One Month Ended and Seven Months Ended July 31, 2017 MTD Actual MTD Budget Variance PTD Actual PTD Budget Variance Meals and Entertainment Marketing - - - 200 - (200) Meetings and Conferences Marketing 5 - (5) 5 - (5) MARKETING NON LABOR 2,071 15,697 13,626 41,760 109,879 68,119 Allocation of Dining Expense 962 125 (837) 4,224 875 (3,349) Minor Furniture & Fixtures 53 - (53) 101 - (101) Creative Follow-up 358 300 (58) 1,628 2,100 472 Outreach/Community Relations 106 625 519 2,375 4,375 2,000 Contract Services 500 600 100 3,500 4,200 700 Office Supplies Sales - - - 100 - (100) Forms & Printing - Sales - 1,000 1,000 290 7,000 6,710 Resident Gifts - 375 375 485 2,625 2,140 Contributions - - - 695 - (695) Special Events - 500 500 1,993 3,500 1,507 Memberships/Club Dues - 83 83-581 581 Postage & Freight - 42 42 53 294 241 Meals & Entertainment Sales - - - 1,253 - (1,253) Training & Education - 63 63-441 441 Employee Recognition / Awards - - - 436 - (436) Travel - Local Mileage/Gas - - - 162 - (162) SALES NON LABOR 1,978 3,713 1,735 17,295 25,991 8,696 Allocation of Dining Expense 193 - (193) 1,772 - (1,772) Minor Furniture & Fixtures 80 725 645 4,142 3,700 (442) Outreach/Community Relations - - - 73 - (73) Referrals 16,506 - (16,506) 80,429 - (80,429) Payroll Processing Fees 2,696 950 (1,746) 16,838 5,250 (11,588) Miscellaneous - - - 33 - (33) Contract Services 3,444 2,540 (904) 18,197 15,450 (2,747) Barber & Beauty Revenue (3,444) (2,540) 904 (17,943) (15,450) 2,493 Contract Services 959 - (959) 4,012 - (4,012) Supplies Administration 709 651 (58) 3,032 2,859 (173) Office Supplies Administration 1,889 750 (1,139) 5,829 4,750 (1,079) Forms & Printing - 1,000 1,000 133 6,200 6,067 Resident Gifts - - - 201 - (201) BW and Color Copies Administration 590 750 160 4,874 4,750 (124) Special Events 50 500 450 1,002 3,150 2,148 Memberships/Club Dues 480 - (480) 3,307 - (3,307) Subscriptions - - - 11 - (11) Software Support Fees 1,470 651 (819) 6,429 651 (5,778) Merchant Services Fees 51 - (51) 341 - (341) Postage & Freight 327 150 (177) 711 1,050 339 Delivery - 250 250 320 1,500 1,180 Bank Fees 822 - (822) 2,147 - (2,147) Late Fees/Penalties/Srvc Chgs 138 - (138) 713 - (713) Licenses/Permits 630 600 (30) 4,767 3,800 (967) Meals & Entertainment - - - 1,056 - (1,056) Page 8 of 10

Income Statement and Statement of Cash Flows One Month Ended and Seven Months Ended July 31, 2017 MTD Actual MTD Budget Variance PTD Actual PTD Budget Variance Unallocated 766 - (766) 2,606 - (2,606) Lease Cost - Equipment 714 600 (114) 5,523 4,200 (1,323) Equipment Rental/Purchases 4 350 346 (117) 2,450 2,567 Training & Education - 500 500 2,351 2,500 149 Meetings and Conferences - - - 192 - (192) Employee Recognition / Awards 1,549 500 (1,049) 10,488 2,500 (7,988) Travel - Meals & Entertainment - 300 300-2,100 2,100 Travel - Local Mileage/Gas 235 225 (10) 1,595 1,550 (45) Travel - Hotel - - - 475 - (475) Telephone - Cell 577 500 (77) 3,352 3,500 148 Cable 2,437 1,450 (987) 8,660 7,400 (1,260) Internet 1,070 1,100 30 7,829 7,700 (129) Telephone 694 750 56 4,588 5,250 662 ADMINISTRATION NON LABOR 35,637 13,252 (22,385) 189,968 76,810 (113,158) HOME OFFICE ALLOCATIONS Corporate Allocation - Administration 391 3,225 2,834 5,473 22,722 17,249 VSL Meals & Entertainment 39 - (39) 248 - (248) TOTAL HOME OFFICE ALLOCATIONS 430 3,225 2,795 5,721 22,722 17,001 TOTAL NON LABOR COST 82,262 79,780 (2,482) 510,403 491,914 (18,489) TOTAL CONTROLLABLE COST 372,525 345,135 (27,390) 2,384,477 2,206,928 (177,549) UTILITIES Water & Sewer 2,676 1,768 (908) 33,265 10,444 (22,821) Trash Removal 705 855 150 4,936 5,050 114 Gas 1,200 775 (425) 10,384 4,577 (5,807) Electric 17,510 17,100 (410) 101,437 101,000 (437) UTILITIES 22,091 20,498 (1,593) 150,022 121,071 (28,951) PROFESSIONAL FEES Legal & Professional Fees - - - 100 - (100) PROFESSIONAL FEES - - - 100 - (100) MANAGEMENT FEES Management Fee Expense 34,150 25,000 (9,150) 204,790 175,000 (29,790) MANAGEMENT FEES 34,150 25,000 (9,150) 204,790 175,000 (29,790) PROPERTY TAXES Taxes - Real Estate 26,483 27,083 600 185,381 189,581 4,200 Taxes - Personal Property 600 - (600) 4,200 - (4,200) PROPERTY TAXES 27,083 27,083-189,581 189,581 - INSURANCE TCOR - Personal Property 584 - (584) 584 - (584) Insurance - Property 4,787 4,678 (109) 33,508 32,746 (762) Insurance - Liability 2,838 5,448 2,610 16,475 38,136 21,661 Insurance - Automobile 709 671 (38) 3,365 4,697 1,332 Insurance - Excess Liability 2,311 - (2,311) 16,174 - (16,174) Insurance - Crime 91 - (91) 634 - (634) Insurance - EPLI 153 - (153) 1,072 - (1,072) Insurance - Other 350 - (350) 350 - (350) Page 9 of 10

Income Statement and Statement of Cash Flows One Month Ended and Seven Months Ended July 31, 2017 MTD Actual MTD Budget Variance PTD Actual PTD Budget Variance INSURANCE 11,822 10,797 (1,025) 72,164 75,579 3,415 TOTAL NON-CONTROLLABLE COSTS 95,146 83,378 (11,768) 616,656 561,231 (55,425) TOTAL EXPENSES 467,671 428,513 (39,158) 3,001,133 2,768,159 (232,974) NET OPERATING INCOME (LOSS) 101,505 36,139 65,366 367,434 (15,789) 383,223 NON OPERATING EXPENSES Non Operating Expenses - - - 4,800 - (4,800) NON OPERATING EXPENSES - - - 4,800 - (4,800) NET INCOME (LOSS) 101,505 36,139 65,366 362,634 (15,789) 378,423 Statement of Cash Flows: Net Income 101,505 362,634 (Increase) Decrease in Current Assets 19,172 17,259 Increase (Decrease) in Current Liabilities (1,838) 200,108 Cash Provided by (Used in) Operations 118,839 580,002 Purchase of Fixed Assets (6,013) (12,657) Borrowings (Repayments) on Long-term debt - 103,002 Increase (Decrease) in Cash 112,826 670,347 Cash - beginning of period 838,977 281,456 Cash - end of period 951,803 951,803 Cash - Operating (Disbursements) 463,123 Cash - Revenue Depository 488,680 951,803 Occupancy as of July 31, 2017: Residents 107.00 Units 100.00 78.7% Page 10 of 10

12:29 PM Senior Care Living V, LLC 08/24/17 Profit & Loss Accrual Basis July 2017 Jul 17 Ordinary Income/Expense Income 40149-0 Resident Services 40009-0 Inspired Standard Living AL 31,670.20 40010-0 Inspired Forever Program AL 263,339.72 40012-0 Second Occupant Revenue 1,357.89 40017-0 Inspired Forever Program 220,537.99 40018-0 Inspired Standard Program 39,343.52 40026-0 Community Fee Revenue 24,000.00 40029-0 Barber & Beauty Admin Revenue 110.60 40040-0 Incontinency Supplies Revenue 18,200.00 40051-0 Respite Revenue 9,150.00 40052-0 Guest Apartments 625.00 40053-0 Concessions-Miscellanous -7,521.82 40143-0 Concession-Marketing Specials -31,750.00 Total 40149-0 Resident Services 569,063.10 50099-0 Ancillary Revenue 50055-0 Rebates 98.00 50070-0 Billable Supplies Revenue 14.98 Total 50099-0 Ancillary Revenue 112.98 Total Income 569,176.08 Gross Profit 569,176.08 Expense 60001-02 Payroll Wage and Tax 6001502 Director Wages Healthcare MC 2,884.61 6003502 LPN Wages Healthcare MC 15,126.30 6004402 Care Givers Wages Healthcare MC 33,151.88 6004602 LPN Overtime Healthcare MC 1,004.91 6004702 Nursing Aides Overtime Healthca 1,108.57 6100502 Commission Healthcare MC -1,000.00 6101002 Bonus Healthcare MC 14.29 6102502 Holiday Wages HC MC 2,106.45 6103302 PTO Healthcare MC 273.39 Total 60001-02 Payroll Wage and Tax 54,670.40 60001-03 Payroll Wages and Tax 6001503 Director Wages Healthcare AL 5,481.50 6003503 LPN Wages 18,100.62 6004203 Private Duty Aides (Med Tech) 2,300.13 6004403 Care Givers Wages 37,181.48 6004603 LPN Overtime 1,483.70 6004703 Nursing Aides Overtime 1,786.70 6004803 Med Tech and Lead Med Tech Over 55.93 6100503 Commission Healthcare AL 2,375.00 6101003 Bonus 114.29 6102503 Holiday Wages 2,679.89 6103303 PTO 846.01 6104203 Bereavement 480.00 Total 60001-03 Payroll Wages and Tax 72,885.25 60001-30 Payroll Wage and Tax 6009930 Staff Wages Activities MC 3,420.40 6101530 Overtime Wages Activities MC 743.55 6102530 Holiday Wages Activities MC 207.17 6103330 PTO Activities MC 353.42 Total 60001-30 Payroll Wage and Tax 4,724.54 60001-31 Activities AL Labor 6001531 Program Director Wages 3,293.26 6009931 Program Coordinators AL 3,334.20 Page 1

12:29 PM Senior Care Living V, LLC 08/24/17 Profit & Loss Accrual Basis July 2017 Jul 17 6101031 Bonus 115.73 6101531 Overtime Wages 40.70 6102531 Holiday Wages 96.96 Total 60001-31 Activities AL Labor 6,880.85 60001-32 Payroll Wage and Tax 6001532 Director Wages Dietary 4,442.29 6002032 Assistant Director Wages 2,740.28 6006032 Cooks Wages 10,560.26 6006532 Prep Staff Wages 1,867.12 6007032 Waitstaff Wages 17,634.09 6007532 Dishwashers Wages 665.39 6101532 Overtime Wages Dietary 3,147.35 6102532 Holiday Wages Dining 1,600.47 6103332 PTO Dietary 1,042.06 Total 60001-32 Payroll Wage and Tax 43,699.31 60001-34 Payroll Wage and Tax 6005134 Housekeeper Wages 9,768.23 6101534 Overtime Wages Housekeeping 184.85 6102534 Holiday Wages Housekeeping 468.32 6103334 PTO Housekeeping 135.30 Total 60001-34 Payroll Wage and Tax 10,556.70 60001-40 Payroll Wage and Tax 6001540 Director Wages Maintenance 4,434.82 6005240 Maintenance Wages 2,184.33 6101540 Overtime Wages 132.20 6102540 Hoilday Wages 104.00 Total 60001-40 Payroll Wage and Tax 6,855.35 60001-42 Payroll Wage and Tax 6009242 Driver Wager 2,161.65 Total 60001-42 Payroll Wage and Tax 2,161.65 60001-46 Payroll Wages & Tax 6001546 Director Wages 9,042.03 6008246 Move In Coordinator Wages 2,563.57 6100546 Commissions 9,375.00 6101546 Overtime Wages 116.78 6102546 Holiday Wages 122.16 6103346 PTO 30.54 Total 60001-46 Payroll Wages & Tax 21,250.08 60001-50 Payroll Wage and Tax 6001050 Executive Director Wages 8,198.29 6002550 Business Office Manager Wages 3,392.29 6002750 HR Generalist 3,956.69 6008550 Receptionist Wages 9,531.91 6100550 Commissions Administration 1,375.00 6101550 Overtime Wages Administration 60.01 6102550 Holiday Wages Administration 442.82 6103350 PTO Administration 96.40 6105150 FICA Tax Administration 19,292.22 6105250 FUTA Tax Administration 434.83 6105350 SUI TAX Administration 1,956.73 Total 60001-50 Payroll Wage and Tax 48,737.19 63000-50 Employee Benefits 6300250 Employee Insurance Administrati 8,965.64 6300350 Other Employee Insurance 338.71 6300450 Insurance-Life Administration 63.80 Page 2

12:29 PM Senior Care Living V, LLC 08/24/17 Profit & Loss Accrual Basis July 2017 Jul 17 6300750 Employee Hiring & Moving Admin 700.79 6300950 Uniform Expense Administration 752.52 Total 63000-50 Employee Benefits 10,821.46 63099-50 Employee Benefits 6400950 Worker's Compensation 7,020.28 Total 63099-50 Employee Benefits 7,020.28 73099-02 Healthcare MC NonLabor 7300802 Contract Services Healthcare MC 482.00 7302002 Billable Medical Sup Health MC 14.98 7302102 Non-Billable Medical Supplies H 572.63 7302202 Incontinent Supp Healthcare MC 2,232.19 7302302 Infectious Waste Disposal 54.39 Total 73099-02 Healthcare MC NonLabor 3,356.19 73099-03 Healthcare AL NonLabor 7300803 Contract Services 250.00 7302103 Non Billable Medical Supplies 95.13 7302203 Incontinency Supllies 2,147.86 Total 73099-03 Healthcare AL NonLabor 2,492.99 73099-30 Activities MC NonLabor 5005700 Activities & Travel Revenue -677.95 7000130 Allocation of Dining Expense 142.23 7300930 Entertainers Activities MC 415.00 7302930 Reim Entertainment Exp Activtie 1,160.31 7304130 Special Events Activities MC 99.06 7304430 Subscriptions Activities MC 3.99 7304830 Resident Activities Activities 451.55 Total 73099-30 Activities MC NonLabor 1,594.19 73099-31 Activities AL NonLabor 7000131 Allocation of Dining Expense 263.99 7300831 Contract Services -18.08 7300931 Entertainers 610.00 7301631 Office Supplies Programming AL 113.62 7302931 Reimbursable Entertainment Exp 102.92 7304131 Special Events 363.16 7304431 Subscriptions 5.00 7304831 Resident Activities 579.98 Total 73099-31 Activities AL NonLabor 2,020.59 73099-32 Dining MC NonLabor 5002300 Guest Meals -2,520.00 5002800 Employee Meals* -154.28 7000132 Allocation of Diet Exp -1,560.65 7000232 Raw Food 22,390.78 7000932 Chemicals 1,032.13 7001032 Dishes / Utensils 209.49 7001132 Paper Goods 606.33 7105132 Repairs & Maintenance Dining 345.88 7300832 Contract Services Dietary 607.06 7301532 Supplies Dietary 2,457.08 7303232 Linen Costs 647.69 7306932 Equipment Rental/Purchases Diet 315.43 Total 73099-32 Dining MC NonLabor 24,376.94 73099-34 Housekeeping NonLabor 7301534 Supplies Housekeeping 2,211.71 Total 73099-34 Housekeeping NonLabor 2,211.71 Page 3

12:29 PM Senior Care Living V, LLC 08/24/17 Profit & Loss Accrual Basis July 2017 Jul 17 73099-40 Maintenance NonLabor 7105040 Fire Inspection & Training 469.41 7105140 Repairs & Maintenance 1,065.84 7105240 Between Tenant Renovations 200.00 7105340 Minor Furn. & Fix Maintenance -200.00 7105440 Pest Control 349.96 7300840 Contract Services Maintenance 1,294.92 7301540 Supplies Maintenance 115.52 7306240 Property Landscaping 2,204.50 7306940 Equip Rental/Purchases Main 282.00 Total 73099-40 Maintenance NonLabor 5,782.15 73099-42 TransportationNonLabor 7303542 Auto Exp - Gas Transportation 297.91 7303642 Automobile Expense (Other) 12.99 Total 73099-42 TransportationNonLabor 310.90 73099-44 Marketing NonLabor 7200244 Collateral Printing 877.52 7200444 Print Media Marketing 297.50 7201844 Promotional Items 844.81 7304444 Subscriptions 45.66 7307844 Meetings and Conferences Market 5.09 Total 73099-44 Marketing NonLabor 2,070.58 73099-46 Sales NonLabor 7000146 Allocation of Dining Expense 961.74 7105346 Minor Furniture & Fixture 53.08 7200146 Creative Follow-up 357.60 7201646 Outreach/Community Relations 105.95 7300846 Contract Services 500.00 Total 73099-46 Sales NonLabor 1,978.37 73099-50 Admin NonLabor 5004100 Barber & Beauty Revenue -3,444.00 7000150 Alloction of Diet Exp Admin 192.69 7105350 Minor Furniture & Fixtures Admi 79.53 7201950 Referrals 16,506.10 7202050 Corporate Allocation-Administra 391.27 7300250 Payroll Processing Fees 2,695.69 7300838 Contract Service Barber & Beaut 3,444.00 7300850 Contract Services Administratio 959.20 7301550 Supplies Administration 708.99 7301650 Office Supplies Administration 1,889.23 7303850 Copier Overage Admin 590.05 7304150 Special Events Administration 50.00 7304350 Memberships/Club Dues 479.79 7305150 Software Support Fees Administr 1,470.13 7305350 Merchant Services Fees 50.95 7305550 Postage & Freight Admin 326.59 7305750 Bank Fees 822.41 7306050 Late Fees / Penalties 138.40 7306150 Licenses/Permits 629.54 7306650 Unallocated / Uncoded P Card 766.40 7306850 Lease Cost-Equipment Admin 713.65 7306950 Equipment Rental/Purchases Admi 4.25 7307950 Emp Recognition / Awards Admin 1,549.32 7308250 Travel - Local Mileage/Gas Admi 234.70 7308950 VSL Local Mileage/Gas 39.22 7309050 Telephone - Cell Administration 577.36 7309150 Cable 2,437.43 7309250 Internet Administration 1,070.20 7309350 Telephone 694.30 Page 4

12:29 PM Senior Care Living V, LLC 08/24/17 Profit & Loss Accrual Basis July 2017 Jul 17 Total 73099-50 Admin NonLabor 36,067.39 74000-00 Utilities 7400160 Water & Sewer 2,675.51 7400260 Trash Removal 705.16 7400360 Gas 1,200.19 7400460 Electric 17,510.07 Total 74000-00 Utilities 22,090.93 74059-00 Taxes & Management Fee 7404980 Management Fee Expense 34,149.67 7405080 Taxes-Real Estate 26,483.00 7405180 Taxes-Personal Property 600.00 Total 74059-00 Taxes & Management Fee 61,232.67 74060-00 Insurance 7406580 TCOR- Personal Property 584.25 7407180 Insurance - Property 4,786.89 7407280 insurance- Liability 2,837.90 7407380 Insurance - Automobile 708.78 7407480 Insurance- Excess 2,310.64 7407580 Insurance-Crime 90.64 7407780 Insurance-EPLI 153.17 7407980 Insurance- Other 350.00 Total 74060-00 Insurance 11,822.27 Total Expense 467,670.93 Net Ordinary Income 101,505.15 Other Income/Expense Other Income 80000-0 Dividend/Interest 110.08 Total Other Income 110.08 Other Expense 60000-0 BB&T- Bank Service Charge 5.00 Total Other Expense 5.00 Net Other Income 105.08 Net Income 101,610.23 Page 5

12:30 PM Senior Care Living V, LLC 08/24/17 Balance Sheet Accrual Basis As of July 31, 2017 Jul 31, 17 ASSETS Current Assets Checking/Savings 10000-1 Total Bonds 0697 BB&T- Working Capital Fund 234,269.62 0722 BB&T-Bond Fund 69.07 0795 BB&T- 2015B-1 DSRF 2,398,439.89 Total 10000-1 Total Bonds 2,632,778.58 10000-2 Total Cash 11001-0 Cash - Operating 6124 1,535.52 11002-0 Cash-BB&T DACA 5779 488,679.91 11003-0 Cash Validus 484,214.59 11004-0 Outstanding Checks and Deposits -21,091.46 Total 10000-2 Total Cash 953,338.56 Total Checking/Savings 3,586,117.14 Other Current Assets 13010-00 Total AR Residents 13001-0 AR Resident 31,067.85 13007-0 AR Miscellaneous 14.98 Total 13010-00 Total AR Residents 31,082.83 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 1,599.14 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 13,485.88 14027-0 Prepaid Federal Taxes 570.00 14078-0 Prepaid Expenses and Other Asse 14001-0 Inventory 6,317.56 14012-0 Prepaid AHCA 6,650.06 14015-0 Prepaid Insurance Buisness 10,398.48 14022-0 Prepaid Other 19,360.93 14026-0 Prepaid Background Checks 656.97 Total 14078-0 Prepaid Expenses and Other Asse 43,384.00 BBK11 Deferred Income Tax Assets 1,180,793.00 BBK4 Accumulated Amortization -94,589.00 Total Other Current Assets 1,221,525.65 Total Current Assets 4,807,642.79 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 Page 1

12:30 PM Senior Care Living V, LLC 08/24/17 Balance Sheet Accrual Basis As of July 31, 2017 Jul 31, 17 15019-0 Total Fixed Assets 15002-0 Land Improvments 18,493.87 15003-0 Building 23,239,104.38 15006-0 Furniture & Fixtures 701,188.67 15007-0 Equipment 186,613.13 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 24,267,441.08 17000-0 Accumulated Depreciation -338,359.00 Total Fixed Assets 25,829,021.68 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 32,196,012.21 LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 20010-0 Accounts Payable 51,406.72 Total Accounts Payable 51,406.72 Other Current Liabilities 20015-0 Due to/from Covington -4,658.00 20021-0 Accrued Accounts Payable 48,095.05 21099-0 Total Accrued Wages & Benefits 21005-0 Accrued Wages 136,496.84 21010-0 Accrued Vacation 22,514.51 21017-0 Employee Voluntary Life Ins 294.22 21020-0 Garnishment Withholding 400.11 21023-0 Short Term/Long Term Disability -109.27 21024-0 Visual/Dental -83.04 21025-0 HSA 1,573.50 Total 21099-0 Total Accrued Wages & Benefits 161,086.87 22039-0 Total Accrued Expenses 22008-0 Accrued Workers Comp-IBNR 7,064.10 22018-0 P-Card Payable 4,956.32 22019-0 Community Credit Cards 320.00 22020-0 Prepaid Rent 184,452.57 22026-0 Sales Tax Payable 339.11 22034-0 Deferred Forever Revenue 8,786.58 Total 22039-0 Total Accrued Expenses 205,918.68 22042-0 Accrued Property Taxes Payable 189,581.00 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 Total Other Current Liabilities 2,150,644.60 Total Current Liabilities 2,202,051.32 Page 2

12:30 PM Senior Care Living V, LLC 08/24/17 Balance Sheet Accrual Basis As of July 31, 2017 Jul 31, 17 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 33,297,511.61 Equity 32000-0 Retained Earnings -2,022,019.34 33000-0 Bouldin Equity 1,636,259.90 BBK7 Shares Issued at Par 100.00 Net Income -715,839.96 Total Equity -1,101,499.40 TOTAL LIABILITIES & EQUITY 32,196,012.21 Page 3