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work on Lake Isabelle expected in 2013. The required capital for the project during the years <br />2012 and 2013, when the project is designed and constructed, is shown in Table 9. The funds <br />required in 2012 include the 1% loan origination fee of $12,730. <br />The annual payments required to service the loan from 2014 through 2043 are also shown in Table <br />9. <br />TABLE 9 <br />FUND REQUIREMENT SCHEDULE <br />YEAR <br />COMPANY <br />PARTICIPATION/PMT' S <br />CWCB 90% LOAN <br />2012 <br />$ 110,930 <br />$ 571,300 <br />2013 <br />$ 29,460 <br />$ 574,400 <br />2014 <br />$ 64,418 <br />$ 911,700 <br />2014-2043 <br />$ 64,418 <br />$ 0 <br />The funds required will necessitate the Company to raise assessments to provide the cash flow <br />indicated. Revenue for operations and payment of loans is derived from assessments on 16,532 <br />stocks. Assessments for the upcoming year are established on or before October 15, by the Board <br />of Directors, pursuant to the authority and procedures set forth in CRS sec. 37 -41 -120. The <br />current assessment level is $15 per share of stock which is an increase over the normal $10 to $14 <br />per share. It would be anticipated the assessment rate would increase due to the planned <br />rehabilitation. <br />The assessments for the years 2001 to 2012 are summarized as follows. <br />Year Assessment <br />2001 $10.00 <br />2002 <br />$10.00 <br />2003 <br />$12.00 <br />2004 <br />$14.00 <br />2005 <br />$14.00 <br />2006 <br />$14.00 <br />2007 <br />$12.00 <br />2008 <br />$12.00 <br />2009 <br />$14.00 <br />2010 <br />$14.00 <br />2011 <br />$15.00 <br />2012 <br />$15.00 <br />Allen Lake and Lake Isabelle — 12.012 <br />Left Hand Ditch Company Page 22 <br />