Harbor Drive Mortgage + DIP Plan

Shows the mortgage, DIP payments, and buyout optionality for AQS International (Family Office) while City First Mortgage (continues servicing).

Attention: Peter and Andy

Proposal Terms

$150,000 cash payment from the DIP account, subject to court approval, paid immediately upon approval of this proposal.
5 months of protection from sale of the property at 735 Harbor Drive, Key Biscayne, FL, commencing from the date of court approval.
Regular monthly mortgage payments of $30,000 to be made each month during the 5-month protection period from the DIP account. This payment shall cover the minimum amount due and the balance shall be applied to repay principal on the debt.
Mortgage purchase option: During the 5-month protection period, AQS International (Family Office) (the family office) shall have the option to purchase the mortgage note from City First Mortgage at a purchase price equal to 92% of total outstanding debt at the time of exercise.
Continued servicing: Upon exercise of the purchase option, City First Mortgage shall continue servicing the loan under existing terms.

Property / Lender

Address

Lender

Servicing note

Mortgage

Loan amount

APR (assumption)

Projection months

Tip: set APR to 0% if you want a pure "paydown only" view.

DIP Payments

Initial DIP payment

Timing

Monthly payment (from DIP)

Quick summary

You’ll put $150,000 into the DIP account and pay $30,000/mo from DIP.

Buyout Optionality (During the Year)

Buyer / Family office

Buyout % of loan value

92%

Buyout month

Month 5

Set a month within your projection window.

At Month 5 (after DIP payment)

Projected balance

$2,800,000

Buy price @ 92%

$2,576,000

Discount / savings

$224,000

Note: Servicing stays with City First Mortgage per your instruction.

Totals (Projection Window)

Total paid (DIP)

$150,000

Total interest

Ending balance

$2,800,000

Deal Snapshot

Property: 735 Harbor Drive, Key Biscayne, FL
Mortgage: $3,100,000 with City First Mortgage
DIP funding/payment plan: $150,000 initial + $30,000/mo
Buyout option: AQS International (Family Office) can buy the loan at 92% of total debt
Servicing: City First Mortgage (continues servicing)

Projected Paydown Schedule

Month-by-month view using your DIP payments and APR assumption.

Initial applied immediately

Month	Starting	Interest	Payment (DIP)	Ending
1	$2,950,000	$0	$30,000	$2,920,000
2	$2,920,000	$0	$30,000	$2,890,000
3	$2,890,000	$0	$30,000	$2,860,000
4	$2,860,000	$0	$30,000	$2,830,000
5	$2,830,000	$0	$30,000	$2,800,000

This is a planning view (not legal advice). If you want it to match your note exactly, plug in the real interest rate, payment priority, and any fees/escrow.