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' THE SELECTED PROJECT <br />' Based on the study conducted at this time, the Company selected Alternative No. 1 above with a total <br />estimated project cost of $ 600,006. The scope of work required for this alternative is outlined in the <br />section entitled, ALTERNATIVES EVALUATED. A breakdown of the construction costs, <br />engineering fees, legal fees, and contingencies are shown in the following table. <br />TABLE 3 <br />ALTERNATIVE. 3 - RRTIMATR15 C'nCTC <br />ITEM <br />OPINION OF COST <br />Construction Cost <br />$ 468,755 <br />Legal Fees & Contingencies <br />$ 46,876 <br />Engineering Fees <br />$ 84,376 <br />TOTAL <br />$ 600,006 <br />IFUND REQUIREMENT SCHEDULE <br />The funds Required by the Company and CWCB to support the project are shown in the following <br />1 table. This is based on a total project cost of $600,000. <br />TABLE 4 <br />FUND REQUIREMENT SCHEDTITY. <br />YEAR <br />10% HIGHLANDS DITCH <br />COMPANY FUNDS <br />90% CWCB LOAN <br />2005 <br />$ 43,500 <br />$ 391,500 <br />2006 <br />$ 21,900 <br />$ 148,500 <br />TOTAL <br />$ 65,400 <br />$ 540,000 <br />The funds required by the company includes the 10% participation plus the loan origination fee of 10 %. <br />For 2005 the funds shown are for the company's 10% participation with the 2006 total including the <br />loan origination fee. <br />Foothills Dam- 03.076 Page 5 <br />