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Schmidt Construction <br />Notes to Divisional Balance Sheet <br />December 31, 2000 <br />Note 2 -Long-term Debt <br />Long-term debt at December 3 I , 2000 consists of the following: <br />Land contras, bearing interest at 7 percent, payable in semiannual <br />installmenu of $81,868 with the final payment due March I, 2021 $ 1,768,065 <br />Less curren[portion 41,118 <br />Long-[erm portion $ 1,726,947 <br />Total principal payments due on the long-term debt are as follows: <br />2001 $ 41,1 18 <br />2002 43,539 <br />2003 46,641 <br />2004 49,953 <br />2005 53,224 <br />Thereafter I ,533,590 <br />Tonal $ I ,768,065 <br />Note 3 -Related Party Transactions <br />Generally, amounts receivable from Edw. C. Levy Co. and affiliates -net are the <br />resuk of transactions in the normal course of business, as well as financing the <br />working capital needs of affiliazes. Repayments and borrowings occurred during the <br />year ended December 3l, 2000 based on short-term cash requirements. These <br />balances have been classified as long-term based on the intention of the parties as to <br />repayment. <br />Note 4 -Pensions and Other Postretirement Benefits <br />All eligible salaried employees are covered by noncontributory defined benefrc <br />pension plans through Edw. C. Levy Co. In addition, the Division provides 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 />~0~~1 <br />Pt.n~v'r¢ ~ Mox,uv. t.tr <br />