Investor Waterfall Terms

[Alyssandria L.]

My money investor shared with me that the terms of his last deal, below.  Could you please explain to me in layman's term what this means in detail and pro vs cons for me.  Are these terms typical?  Additionally, his equity split is Investor Equity (80.0%)

Sponsor Equity (20.0%), is this also typical?  TIA

Waterfall
Upon sale, proceeds will be distributed in order as follows. Please note any unpaid preferred return will be accrued: Senior debtholder Repayment of capital and any accrued returns to meet the 9.0% preferred return At sale investors will receive their pro-rata share of 25.0% of the remaining profits