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<br />/~~'\. <br /> <br />. <br /> <br />Johnson, Bruce <br /> <br />From: <br />Sent: <br />To: <br />Subject: <br /> <br />Johnson, Bruce <br />Friday, October 10, 2003 1 :32 PM <br />'dmarsh@smithgeotech.com' <br />New Cache La Poudre - Loan Request <br /> <br />Hi Dave, <br /> <br />John Van Sciver passed this loan to me. I have just started looking at the draft Feasibility Study, and have a few <br />preliminary questions to clear up: <br /> <br />/,1) The loan application from NCLPIC says that the total project is $7,200,000 with a loan of $6,000,000. I am guessing <br />that p. 5 of the application needs to be revised. I can fax you a copy if that application came directly from them. I am <br />assuming that the Feasbility Study is correct and the total project is $9,542,000 with a loan of $8,600,000 at 2.5% (the <br />application says 2,75%) for 30 years. <br /> <br />,/ 2) Interest rate - Can you get me a breakdown of agricultural vs. municipal shares (if any). Maybe you already talked <br />about the interest rate with John and he agreed on 2.5%, our current agricultural rate. I just want to document it. <br /> <br />@ No. of shareholders? - Is it 250 shareholders (loan application) or 300 (Feasibility Study p, 38 and Executive <br />Summary)? <br /> <br />/ 4) Table 18 (p. 38) - Short term loans. Can I get a copy of that? <br /> <br />5) Future Assessments (Table 17) - Indicates future assessments to go from $110 to $234. My calculations of the <br />increase to cover the new loan: Annual payment of $410,888/2500 shares = $164 + $110 = $274. Any thoughts on that. <br />Let me know. <br /> <br />I will be out of the office until Tues. 10/14, and will be looking at the Feasibility Study in more detail next week, Let me <br />know on the above. My number is 303-866-3428 if you have any questions. Thanks. <br /> <br />Bruce <br /> <br />1 <br />