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<br />. <br /> <br />. <br /> <br />With respect to its own reserves. the Company has $250,000 on <br />hand at this time and will collect from its assessments the <br />balance of what is needed before construction. <br /> <br />The loan from the Board would be at five percent for 40 <br />years. Under this financing arrangement, the Company would <br />pay the Board $24.477.60 per year for 40 years, for a total <br />repayment of $979.104. <br /> <br />-2- <br />