BOARD02336

• Board Meeting Date: 9/27/1999
• Description: Directors' Reports
• Board Meetings - Doc Type: Memo

Then they paid $2,000 in January 1998 of which $1,069 was applied first to payoff interest .-
in 1996 and the remainder of $931 was applied towards principal in 1996. The company still
owes $402 in principal on their 1996 payment. The balance of the loan is $47,564.

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