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<br /> ELK RIVER ECONOMIC DEVELOPMENT AUTHORITY
<br /> MICRO LOANS
<br /> 0
<br /> Current Current Dec.31,1998
<br /> Loan Loan Interest Term Monthly Principal
<br /> Borrower Date Amount Rate (Months) Payment Outstanding
<br /> Alltool (1) 6/1/89 $200,000 9.00% 120 $2,533.52 $12,386.68
<br /> Beaudry Convenience* 12/28/93 $50,000 8.50% 120 $618.58 $30,586.30
<br /> Carpe Kairos* 8/10/95 $50,000 8.50% 180 $491.88 $43,773.13
<br /> David Decker 8/5/98 $50,000 8.50% 60 $433.91 $49,920.26
<br /> Designing Women* 2/18/93 $21,500 8.50% 180 $97.85 $3,528.38
<br /> Elk River Automall* 11/24/94 $50,000 8.50% 180 $492.19 $42,299.87
<br /> Galli Equipment* 12/29/95 $32,500 6.00% 180 $474.78 $20,957.95
<br /> Galli Real Estate* 12/28/95 $17,500 6.00% 180 $147.67 $15,276.08
<br /> Indy Lube* 10/28/93 $24,700 8.00% 180 $236.14 $19,249.23
<br /> Ink Wizards 8/4/98 $50,000 8.50% 60 $433.91 $49,759.07
<br /> Internet 5 1/30/96 $37,500 8.75% 60 $773.90 $18,268.44
<br /> LaRose Enterprises 3/29/94 $25,000 6.00% 84 $365.21 $9,836.56
<br /> LeFebvre Leasing* 5/8/97 $50,000 8.50% 60 $1,003.59 $36,348.76
<br /> Northstar Die Casting 1/29/98 $50,000 8.50% 60 $1,025.83 $44,276.48
<br /> 0 Olde Main Eatery 10/15/97 $50,000 8.50% 180 $492.37 $48,275.40
<br /> Pomeroy Tool 7/1/92 $25,000 6.50% 180 $217.78 $16,906.80
<br /> R&D Sales* 12/8/93 $17,500 8.50% 180 $106.25 $3,021.63
<br /> Roma Tool(2) 7/1/91 $500,000 10.00% 240 $2,643.25 $386,515.85
<br /> Second Generation Properties* 11/23/92 $50,000 8.50% 240 $428.38 $41,909.16
<br /> Sport Tech 11/2/98 $45,000 8.50% 36 $390.52 $44,928.23
<br /> T J Properties* 3/31/95 $48,000 8.50% 180 $473.03 $0.00
<br /> Tescom* 5/18/93 $50,000 8.50% 120 $595.48 $0.00
<br /> (3) 4/22/94 $250,000 4.50% 120 $2,590.98 $147,178.41
<br /> Water Laboratories,Inc.* 5/5/94 $15,000 8.50% 180 $147.24 $12,171.24
<br /> TOTAL MICRO LOANS $1,509,200 $14,623.26 $950,195.50
<br /> TOTAL DTED LOANS $250,000 $2,590.98 $147,178.41
<br /> $1,759,200 $17,214.24 $1,097,373.91
<br /> A A A
<br /> (1)The City retains the first$100,000 of principal plus interest. The remainder is payable
<br /> to the State.
<br /> (2)The terms of this loan were renegotiated in 1991;the renegotiated terms are as listed.
<br /> Monthly payments increase to$2,643.25 on January 1,1997. The City retains the first
<br /> $100,000 of principal plus interest. The remainder is payable to the State.
<br /> ID (3)The City retains all principal and interest payments from this DTED Block Grant.
<br /> The payments are credited to the DTED Micro Loan Fund for use
<br /> under the guidelines of the DTED Block Grant program.
<br /> *Variable Interest Rate. Microlns
<br /> 2/3/99
<br />
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