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<br />Page 2 of 2
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<br /> TABLE IX
<br /> (cont. I d)
<br /> REPAYMENT SCHEDULE
<br /> Annual Payments CWCB
<br /> Increased Increased CWCB Advance Private Bond Net Advance
<br /> Hay Calf Operating 40 Years 40 Years Operating Accumulated
<br />Year Revenue'" Production* Cost** at 5%*** at 12%*** Profit/Loss Balance
<br />2011 $21,615 $137,109 $16,930 $ 24,768 $ 51,554 $ 63,736 $668,972
<br />2012 22,263 141,223 17,777 24, 768 51,554 67,565 693,508
<br />2013 22,931 145,459 18,666 24,768 51,554 71 , 489 718,276
<br />2014 23,619 149,823 19,599 24, 768 51,554 75,512 743,044
<br />2015 24,327 154,318 20,579 24,768 51,554 79,635 767,813
<br />2016 25,057 158,947 21,608 24,768 51,554 83,860 792,581
<br />2017 25,809 163,716 22,688 24,768 51,554 88,190 817,349
<br />2018 26,583 168,627 23,822 24,768 51,554 92,624 842,117
<br />2019 27,381 173 , 686 25,013 24,768 51,554 97,168 866,885
<br />2020 28,202 178,897 26,264 24,768 51,554 101,821 891,653
<br />2021 29,048 184,264 27,577 24,768 51,554 106,586 916,422
<br />2022 29,920 189,791 28,956 24 , 768 51,554 111,465 941,190
<br />2023 30,817 195,485 30,404 24,768 51,554 119,586 965,958
<br />2024 31,742 201,350 31,924 24,768 51,554 124,846 990,720
<br />
<br />* Increases at 3%
<br />** Increases at 5%
<br />*** Loan amount based on $425,000
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