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,- Mr. Dennis Gelvin November 19, 1996 Page 2 SCHEDULE 1 Schedule 1 indicates that Vail Associates, Inc. ( "VAI" ) will purchase an additional 600 acre feet for approximately $3,325,000; Eagle County will purchase 200 acre feet for approximately $1,150,000; Eagle River Water and Sanitation District ("ERWSD") will purchase 330 acre feet for approximately $1,897,500; and Upper Eagle Regional Water Authority ("UERWA") will purchase 370 acre feet for approximately $2,127,500. It is assumed that the CWCB will loan Eagle Park approximately $8,500,000 on, or about, January 1, 1998. It is assumed that VAI will be responsible for paying approximately 39.12% of the annual debt servi.ce costs on the CWCB loan; Eagle County will be responsible for 13.53% of the loan; ERWSD will be responsible for 22.32% of the loan; and UERWA will be responsible for 25.03% of the loan. It is assumed that annual administrative and operating costs for Eagle Park will be shared based on assumed shareholder ratios of 55.00% for VAI, 10.00% for Eagle County, 16.50% for ERWSD, and 18.50% for UERWA. EXHIBIT I - EAGLE PARK CASH FLOW PROJECTION Exhibit I sets forth the amount of the annual debt service and operating cost assessments that will be required from VAI, Eagle County, ERWSD, and UERWA. The annual debt service on the $8,500,000 loan and the annual operating requirements for Eagle Park are set forth in the following chart. ENTITY DEBT SERVICE ADMINISTRATION TOTAL VAl $235,146 $55,000 $290,146 EAGLE COUNTY(*) 81,327 10,000 91,327 ERWSD 134,163 16,500 150,663 UERWA 150,452 18,500 168,952 Totals $601,088 $100,000 $701, 088 (*) It e;hould be noted that Colorado River Water Conservation District may purchase 50% of Eagle County's portion of the project. Exhibit I also sets forth the annual debt service requirements associated with CWCB's loan to Eagle Park, and the estimated annual costs associated with administering and operating Eagle Park.