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<br /> EXHIBIT C
<br /> CITY OF ELK RIVER
<br /> TAX INCREMENT PLAN 15
<br /> ALLTOOL MANUFACTURING
<br /> PREPARED SEPTEMBER 1988
<br /> AMORTIZATION ANALYSIS
<br /> 10.750% TOTAL TAX
<br /> YEAR OF YEAR OF PRINCIPAL ANNUAL PRINCIPAL CAPITAL 105% INCREMENT CUMULATIVE
<br /> LEVY MAT. PAID INTEREST 1 INTEREST INTEREST NET LEVY OF TOTAL INCOME SURPLUS
<br /> 1988 JUL 1, 89 $0 $38,700 138,700 138,700 0 0 0
<br /> 1989 OCT 1, 90 13,500 $38,700 $42,200 $0 142,200 $44,310 $44,336 $26
<br /> 1990 OCT 1, 91 $48,500 $38,324 $86,824 $0 $86,824 $91,165 $91,323 $158
<br /> 1991 OCT 1, 92 $51,500 $33,110 $84,610 $0 $84,610 $88,841 191,268 12,428
<br /> 1992 OCT 1, 93 $51,500 $27,574 $79,074 $0 $79,074 $83,027 $91,211 18,184
<br /> 1993 OCT 1, 94 $51,500 $22,038 $73,538 $0 173,538 $77,214 $91,153 $13,939
<br /> • 1994 OCT 1, 95 151,500 $16,501 168,001 $0 $68,001 $71,401 191,093 $19,692
<br /> 1995 OCT 1, 96 $51,000 $10,965 $61,965 10 161,965 $65,063 191,031 125,968
<br /> 1910 OCT 1, 47 111,000 13,483 096,483 $0 150,483 139,307 190,907 031,060
<br /> TOTALS: $360,000 $231,394 1591,394 138,700 $552,694 1580,328 $682,382 1102,054
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