EX-3.2 4 dex32.txt CLOSING STATEMENT Exhibit 3.2 -------------------------------------------------------------------------------- CLOSING STATEMENT INFORMATION -------------------------------------------------------------------------------- Property Name: Walker Springs Shopping Plaza Seller: First Capital Income Properties, LTD. Series VIII, a Florida limited partnership Purchaser: Walker Springs GDS, LLC, a South Carolina limited liability company Proration Date: 3/14/2002 Proration as of: 11:59 PM, Thursday, MARCH 14, 2002 Closing Date: 3/15/2002 Closing as of: FRIDAY, MARCH 15, 2002 Tax Begin Date: 1/1/2002 Tax End Date: 12/31/2002 Month Begin Date 3/1/2002 Month End Date 3/31/2002 CLOSING STATEMENT FOR SALE OF Walker Springs Shopping Plaza -------------------------------------------------------------------------------- SELLER: First Capital Income Properties, LTD. Series VIII, a Florida limited partnership PURCHASER: Walker Springs GDS, LLC, a South Carolina limited liability company PRORATION DATE: 11:59 PM, Thursday, MARCH 14, 2002 CLOSING (FUNDING) DATE: FRIDAY, MARCH 15, 2002 -------------------------------------------------------------------------------- CREDIT CREDIT PURCHASER SELLER ------------ ----------- PURCHASE PRICE 6,210,000.00 EARNEST MONEY 100,000.00 PRO-RATE REAL ESTATE TAXES [See Schedule A] 31,316.01 PRO-RATE MARCH 2002 RENT [See Schedule B] 29,721.62 SECURITY DEPOSITS [See Schedule C] 24,828.63 RUSH FITNESS CENTER CONSTRUCTION ALLOWANCE 80,000.00 SUBTOTALS 265,866.26 6,210,000.00 BALANCE DUE TO SELLER 5,944,133.74 ------------ ------------ TOTAL CREDITS 6,210,000.00 6,210,000.00 ============ ============ APPROVED: SELLER APPROVED: PURCHASER First Capital Income Properties, LTD. Walker Springs GDS, LLC, a Series VIII, a Florida limited partnership South Carolina limited liability company By: First Capital Financial, L.L.C., a Florida Limited Liability Company, its General Partner By: /s/ George Toures By: /s/ John Gallaher -------------------------------- ---------------------------- Name: George C. Toures Name: John Gallaher Its: Agent & Atty. Title: Notes: (1) Percentage Rent due under CVS lease during year of closing shall be prorated after closing pursuant to Section 4.C. (i) (b) of the Purchase and Sale Agreement. (2) Utilities to be read on 3/14/02 and Seller to pay final bill Walker Springs Shopping Plaza SOURCES AND USES STATEMENT

SCHEDULE A -------------------------------------------------------------------------------- Walker Springs Shopping Plaza PRO-RATE 2002 (PAYABLE 2002) PROPERTY TAXES PRORATION MADE AS OF: 11:59 PM, Thursday, MARCH 14, 2002 --------------------------------------------------------------------------------

NOTES: ----- [1] REAL ESTATE TAXES ARE SUBJECT TO REPRORATIONS UNDER SECTION 4.C.ii OF THE REAL ESTATE SALE AGREEMENT SCHEDULE B ================================================================================

NOTES: Pursuant to section 4.D.(ii) of the Purchase and Sale Agreement, Purchaser shall promptly remit Seller's share of March uncollected rent to Seller upon collection so long as such payment does not create a deficiency in the then current rent. Kingsford Pike Antiques Rent is not due to Landlord until the 15th of each month. When collected by either Purchaser or Seller, Purchaser's or Seller's share of such March rent will be remitted to Purchaser or Seller accordingly. SCHEDULE C -------------------------------------------------------------------------------- Walker Springs Shopping Plaza SECURITY DEPOSIT CREDIT PRORATION MADE AS OF: 11:59 PM, Thursday, MARCH 14, 2002 -------------------------------------------------------------------------------- SECURITY DEPOSITS TENANT NAME UNIT NO. ----------- -------- Barnhill 1220 $ 0.00 CVS 1100 $ 0.00 Kingsford Pike 1500 $13,500.00 Kroger 1200 $ 0.00 Party City 1202 $ 9,674.00 Rush Fitness 1300 $ 0.00 Smoothie King 1002 $ 1,654.63 ---------- $24,828.63 ==========

FIRST CAPITAL INCOME PROPERTIES LTD SERIES VIII 8-K