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CostScenarios (cont'd) rAPys► <br /> Scenario C: Project Cancelled in Fall 2010 <br /> Scenario C : 1 <br /> • ERMU signs Big Stone II Letter of Intent (LOI) by July 15 . <br /> ■ Project "Go/No-Go" vote of current project Co-Owners in <br /> September is "Go". <br /> • ERMU joins project in Fall 2009 . <br /> ■ ERMU investments in Project up to Fall 2010 . <br /> One-time catch-up payment for costs pre-8/31/09 : $2.60 million2 <br /> Monthly development payments from 9/1/09 <br /> and interest on the $2.6 million to 9/1/2010 : $0.84 million3 <br /> Total ERMU investment by 9/1/2010 : $3 .44 million <br /> • Project is not able to accomplish financial closing in Fall, 2010 . <br /> • Project is cancelled . <br /> 1 . CMMPA believes that, although this Scenario C is possible, once a "Go" vote is made in <br /> September 2009, the Project will continue through and beyond financial close. <br /> 2. One-time payment to be made by 11/1/09 to join the project, per the Letter of Intent. <br /> CMMPA will provide bonding for this payment at ERMU's option. 9 <br /> 3. Assumes CMMPA finances ERMU monthly $51 k development payments to financial close. <br />