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"Exh i 1, i t A" <br /> P.EP '\YME11T P! n,N <br /> Lo'n !',epa ment <br /> The tnt1 amo,jnt of the construction loan is t be ;300,000.00 and <br /> yill be paid off in 20 year It is estimated that it will take one <br /> year for the construction, so the entire $300,000.00 vim be needed the <br /> first ye ?r. We do not plan to pay on the principal in the first four <br /> years, but will pay $9.Onn.00 per .,Aar for the first four years for <br /> irtorest. Resinning with the fifth year, wP 1:i1 repay principal <br /> and interest, <br /> The C i t y hPs the sum of $2 /1, 3 4 .00 nppr Ipr i ated and available for <br /> expenditures in the Marina development which :re feel is sufficient <br /> to cover the net loss for the first year and any excess in construction <br /> costs over $300,000,00. Some of the constructian items, such as fill, <br /> will be let to bid on a unit hasis in order that amounts in excess <br /> of the available funds can be deleted if necessary. Evidence of the <br /> existence of the $24,3(14.00 mentioned above is provided by the <br /> attached letter from John J. Brophy, Assessor - Auditor for the City <br /> °edwood C i t y . <br /> Schedule of Payments <br /> YEAR PAYMENT YEAR PAYMENT <br /> 1 9,000.00 11 23,883.26 <br /> L,000.on 12 23,883.26 <br /> 3 .),000.00 13 23,883.26 <br /> 4 O,00f .00 14 23,883.26 <br /> 23,8 15 23,883.26 <br /> 23,883.26 16 23,883.26 <br /> 7 23,883.205 17 23,883.2 <br /> 8 23,883.26 18 23,883.26 <br /> 23,883.26 1 23,883.26 <br /> 10 23,883.26 20 23,883.15 <br />