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Table 2. Sources of Funding Entity Grant Loan Percent Participation CWCB $0 $83,204 39.5% *EI Viejo $1650 $0 0.8% NRCS $125,804 $0 **59.7% Totals $127,454 $83,204 100% *EI Viejo Ditch $1650 (I non loan participant ditch member share) 0.8% **NRCS/EQIP: 59.7% (075% of construction project not to exceed $125,804) The EI Viejo Ditch will cover any costs that exceed the estimated project cost. The EI Viejo Ditch is requesting a 30-year loan from the CWCB. The standard agricultural lending rate would be 2.5%, resulting in annual payments of $4023. Table 3 is a summary of the financial aspects of the project. Annual assessments will increase from $20, up to $45.22 per share for participants. This represents an annual assessment increase of $ 25.22 or $1.75 per cfs. a e mancla ummary Project Cost $210,658 Loan Amount (75% of Project Cost) $157,994 CWCB Loan Payment Amount $83,204 Number of Shareholders *4 Number of Shares of Stock **159.5 Current Assessment per Share $20 Future Assessment per Share $45.22 Annual Project Cost per acre-foot *** $1.10 (Averaoe annual diversions: 6026 acre-feet) T bl 3 F . I S *Number of Shareholders: (10) participating in project 4 **Number of Shares of Stock: (173.25) 159.5 participating shares ***($7212.59 total) divided by the Average annual diversions: (6026 acre-feet times 92% participants) $1.1 O/ac. ft Since all other funding for the project is in the form of grants, the Company would have no other debt service on this project. Operation and maintenance costs are expected to decrease with the new pipeline project, and can be accommodated by the Company's existing budget. Credit worthiness: The El Viejo Ditch has no existing debt. Table 4 shows the Financial Ratios for the El Viejo Ditch and indicates average to strong ability to repay with the project in place.