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Schmidt Construction <br />Notes to Divisional Balarn:e Sheet <br />December 31 t, 2000 <br />Note 2 -Long-term Debt <br />Long-term debt at December 31, 2000 consists of the following: <br />Land contras, bearing interes[ at 7 percent, payable in semiannual <br />installments of $81,868 wish the final payment due March I , 2021 $ 1,768,065 <br />Less arrenc portion _ 41, 118 <br />Long-term porton $ 1,726,947 <br />Total principal payments due on the long-term debt are az follows: <br />2001 $ 41, 118 <br />2002 43,539 <br />2003 46,641 <br />2004 49,953 <br />2005 53,224 <br />Thereafter 1,533,590 <br />Total $ 1,768,065 <br />Note 3 -Related Partp Transactions <br />Generally, amounts receivable from Edw. C. Levy Co. and affiliates - n<:t are the <br />resuk of transactions in the normal course of business, as well az financing the <br />working capital needs of affiliates. Repayments and borrowings occurred during the <br />year ended December 3l, 2000 based on short-term uch requirements. These <br />balances have been classified as long-term based on the interroon of the parties az to <br />repayment. <br />Note 4 -Pensions and Other Postretiremart Benefits <br />All eligible salaried employees are covered by noncontributory defined benefrc <br />pension plans through Edw. C. Levy Co. In addition, the Division provid<s certain <br />defined heakh care benefrcs for retired employees through the Parent. Separate <br />actuarial and funding information relative to the Division is not available. <br />4 <br />Ccop°1" <br />Pun7E & Most,uv. t.[.t <br />