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Left Hand Ditch Company Agenda Item 33a <br /> May 9,2014(Updated May 23,2014) <br /> Page 3 of 4 <br /> TABLE 1: PROJECT FINANCIAL SUMMARY <br /> Original New <br /> Approval Request <br /> Total Project Cost $1,273,000 $1,623,000 <br /> Borrower Contribution $127,300 $162,300 <br /> CWCB Loan Amount(90% of total Project cost) $1,145,700 $1,460,700 <br /> CWCB Loan Amount(including 1% Service Fee) $1,157,157 $1,475,307 <br /> CWCB Annual Loan Payment $54,918 $70,018 <br /> CWCB Loan Obligation (including 10% debt reserve funding) $60,410 $77,019 <br /> Number of Shareholders 360 360 <br /> Number of Shares 16,800 16,800 <br /> Current Annual Assessment(per Share) $15.00 $30.00 <br /> Annual Cost of Project(per Share) $3.60 $4.58 <br /> Cost of Project per AF to Preserve Storage (1,254 AF) $1,015 $1,294 <br /> Creditworthiness: <br /> The Company has two loans with the CWCB as noted in Table 2 and a history of making its <br /> payments on time. The Company's share assessment history is: $15/share in 2012, $17/share in <br /> 2013, and $30/share in 2014. The increase in assessments in 2014 is enough to cover this loan <br /> increase as well as service the debt for the Company's emergency flood loan. <br /> TABLE 2: EXISTING DEBT <br /> Maturity Remaining Annual Collateral <br /> Loan Date Balance Payment <br /> Pledge of assessment <br /> CWCB—Spillway Repair— <br /> revenues and Left <br /> Left Hand Valley Reservoir 2029 $384,027 $33,875 <br /> (C153804) Hand Valley Dam and <br /> Reservoir <br /> CWCB Pledge of assessment <br /> WCB—Emergency Left <br /> Hand Ditch System Repairs 2044 $3,276,056W $164,234 revenues and Left <br /> (C150370) Hand Valley Dam and <br /> Reservoir <br /> TOTAL $3,660,083 $198,109 <br /> (1)Approved loan amount.Final loan amount could vary upon supstantial completion of the project. <br />