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<br />Amount Paid <br />Snyder/Smith <br />4,869.00 <br />6,404.51 <br />6,932.60 <br />10,196.25 <br />28,402.36 <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />The project is scheduled to be completed by the middle of March, 1996. <br /> <br />The table below shows the amount of money paid by Pioneer to each of the ditch <br />systems for running fees during the last four years. The ditch systems are willing to <br />pledge a portion of these running fees to guarantee the loan. <br /> <br />1992 <br />1993 <br />1994 <br />1995 <br /> <br />Amount Paid <br />Tremont <br />4,869.00 <br />6,404.51 <br />6,932.60 <br />10.196.25 <br />28,402.36 <br /> <br />Tremont is the owner of the structure and diversion canal. The interests of Snyder <br />Smith and Pioneer are contractual. <br /> <br />The Tremont and Smith Snyder have an existing loan for $9,136.00 with the Farmers' <br />State Bank of Fort Morgan. This loan has two remaining payments, $5,500 in June of <br />1996 and the balance plus interest in June of 1997. If all or a portion of this loan could <br />be paid at this time by increasing the size of this CWCB loan, it would greatly increase <br />the available cash of the two systems. <br /> <br />Included is a sketch of the project. <br /> <br />4 <br />