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HomeMy WebLinkAbout05- Bozeman Creek Family Health; Economic Loan - Loan Agreement ~-- - - .-.- ^ ., I LOAN AGREEMENT I THIS LOAN AGREEMENT is made and entered into thisB~ day of February 2005, by and between Bozeman Creek Family Health, PLLC, and Sarah E. Bronsky, Rebecca E. Canner and Andrea K. Cady as individuals, hereinafter referred to as "Borrowers", and the City of Bozeman, hereinafter referred to as the "Lender". Borrower agrees to pay to Lender the sum of Two Hundred Thousand and Noll 00 Dollars ($200,000.00), plus interest in accordance with the terms of this agreement. RECITALS WHEREAS, the Lender has established a Revolving Loan Fund for the purpose of furthering economic development in the Bozeman jurisdictional area; and WHEREAS, the Borrowers wish to borrow funds from the Lender to further the activities of the company; and WHEREAS, the Borrowers have agreed not to remove the business activities or facilities for which the loan is intended from the Lender's jurisdictional area during the tenn of the loan; and WHEREAS, the Borrowers do not have sufficient assets available to satisfactorily secure this loan and the partners have agreed to personally guarantee the repayment on behalf of the Borrowers, NOW, THEREFORE, in consideration of the mutual covenants and conditions herein, the parties agree as follows: 1. Amount of Loan The Lender agrees under the terms and conditions of this Agreement, to make a loan for equipment and working capital to the Borrowers in the principal amount of $200,000, to be repaid over a term of not more than eight (8) years. This loan is evidenced by a promissory note and further secured by three individual insurance policies, each in the amount of $200,000 with each policy naming the Lender as the sole Beneficiary. In. addition, the Lender will have a second lien against all business assets of the Borrowers, including accounts receivable. 2. Interest Rate and Repayment of Loan The loan shall bear interest at five and one-quarter .percent (5.25%) per annum. The term of the loan is eight (8) years. Borrowers shall commence paying interest only for the frrst year of the loan in the amount of Eight Hundred Seventy Five and No/loo Dollars ($875.00) per month beginning with the 5th day of March 2005. At the conclusion ofthe first year of this loan, Borrowers shall make payments in the amount of $2,850.34 per month, in accordance with the amortization schedule attached hereto as exhibit "AU. These payments will be due and payable on the 5th day of March 2006 and continue on the fifth day of each and every month thereafter until the loan is paid in full. The Borrowers will pay a late charge of two percent (2%) of the scheduled payment for any payment not made by the 15th day of the month in which it is due. Interest will accrue from the date funds are disbursed. Interest will accrue on both the delinquent payment and unpaid balance. All payments shall be first applied to penalties, then interest. There will be no penalty for prepayment of the loan. Page I of 9 . 3. Disbursement of Funds. Lender shall distribute the full amount of the loan to the Borrowers within five (5) days of receiving all signed documents from the Borrowers. 4. Conditions of Loan A. The Partners will each maintain a life insurance policy in the amount owed under this Agreement and naming the Partnership as Beneficiary. Said policies shall provide that upon the death of one of the partners. the proceeds of said loan shall first go to pay any loans with a superior position to that give under this agreement and the remainder, if any, shall be applied to the remainder owed to the Lender under the terms of this Agreement. Further. the Borrowers shall provide the Lender with a copy of the Certificate of Life Insurance as well as updates when issued by the insurance company. B. Upon receipt of reasonable advance notice, the Borrowers will permit representatives of the Lender to inspect the Borrowers' facilities and records which are the subject of this loan. C. This Agreement is non-assignable except upon the written consent of the Lender. A request for consent to assignment must include a statement justifying the request and the financial statement ofthe proposed assignee. This statement must be current to within 90 days of the request. The Lender reserves the right to deny requests for assignment and to modify rates and terms of the Loan Agreement and its exhibits as conditions of an assignment. D. The Borrowers waive any and all claims and recourse against the Lender, including the right of contribution for loss and damage to persons or property arising from, growing out of, or in any way connected with or incident to this Agreement. Further, the Borrowers will indenmify, hold hannless, and defend the Lender against any and all claims, demands, damages, costs, expenses or liability arising out of the performance of the Borrowers. E. In the event that Bozeman Creek Family Health, PLLC is sold or transferred during the term of this loan, the loan will become immediately due and payable. F. The Borrowers shall not remove the business activities or facilities for which the loan is intended from the city limits of the City of Bozeman. 5. Living Wage The Borrowers agree to pay all workers employed by the Borrowers in the performance of this loan, a living wage as provided by Chapter 2.96 of the Bozeman Municipal Code. The Borrowers agree to make available for City inspection it's payroll records relating to employees providing services under this loan. If any payroll records of the Borrowers contain any false, misleading or fraudulent information, or if the Borrowers fail to comply with any of the provisions of Bozeman Municipal Code Chapter 2.96, the Borrowers will be in default and the City may withhold payments on the agreement, terminate, cancel or suspend the agreement in whole, or in part in addition to any remedies contained herein or at law. 6. Default A. The occurrence of anyone or more of the following events shall constitute a default ("event of default") by Borrowers under this Agreement: Page 2 of 9 , , 1. Any representation or:. warranty made by the Borrowers in this Agreement or in any request or certificate or other information furnished to the Lender hereunder proves to have been incorrect in any material respect; 2. The Borrowers fail in any material respect to carry out the obligations under the proposal to the Lender for the loan provided hereunder; 3. The Borrowers fail to pay, when due, any indebtedness for any money borrowed, for which Borrowers are liable as principal obligor; 4. The Borrowers apply for or consent to the appointment of a receiver, trustee or liquidator, admit in writing to its inability to pay its debts as they become due, make a general assignment for the benefit of creditors, or invoke any relief under any chapter of the United States Bankruptcy Code; 5. The Borrowers fail to provide adequate collateral for the subject loan ; 6. The Borrowers fail to pay all local personal property taxes specified to the project funded by the proceeds of this loan, as applicable; 7. The Borrowers remove the business activities for which the loan is intended from the Lender's jurisdictional area during the term of the loan; 8. The Borrowers fail to execute any documents reasonably necessary to make the Lender secure in its financial position as stated in this Agreement; 9. The Borrowers sell, transfer, pledge or hypothecate its stock so as to render the Lender insecure in its position of having the loan repaid; 10. The Partners allow anyone of the life insurance policies required herein to lapse and do not renew said policies as specified in this Agreement; 11. The Borrowers violate any term, assurance, or condition of this Agreement; 12. Borrowers fail to obtain all applicable City business licenses. B. In the event the Borrowers fail to make timely payments under this Agreement or perform any of the covenants on its part or any event of default occurs as stated above, the Lender at any time thereafter may declare the Borrowers to be in default and thereafter give the Borrowers written notice setting forth the action or inaction. which constitutes the default and giving the Borrowers thirty (30) days in which to correct the default. If the Borrowers fail to correct the default within thirty (30) days of receipt of this notice, the Lender may notify the Borrowers in writing that the full balance due upon this Agreement is then due and payable in full within thirty (30) days. It is agreed by the parties hereto that the provisions of this Agreement provide for reasonable and sufficient notice to be given to the Borrowers in case of the Borrowers' failure to perform any of its covenants and that this notice is sufficient for the Borrowers to rectify its actions or inaction of default. Any waiver by the Lender of any default by the Borrowers does not constitute a waiver of a continuing breach or a waiver of a subsequent breach. Any agreement contrary to this Agreement Page 3 of 9 . is not binding upon either party hereto unless ,it is in writing and signed by both parties. In the event of default, Lender, in its own absolute discretion, may exercise anyone or more of the rights and remedies accruing to a secured party under the laws of the State of Montana and any other applicable law and this agreement. All of the Lender's rights and remedies under this Agreement and the other agreements are cumulative and nonexclusive. 7. Non-Discrimination A. Civil Rights Act of 1964. The Borrowers will abide by the provisions of Title VI of the Civil Rights Act of 1964 which states that no person may, on the grounds of race, color, or national origin, be excluded from participation in, be denied the benefits of, or be subjected to discrimination under any program or activity receiving federal financial assistance. B. Section 109 of the Housing and Community Development Act of 1974. In the performance of this contract the Borrower will obey this provision which states that: "No person in the United States may, on the grounds of race, color, national origin, or sex, be excluded from participation in, be denied the benefits of, or be subjected to discrimination under any program or activity funded in whole or in part with the funds made available under this title. Any prohibition against discrimination on the basis of age under the Age Discrimination Act of 1974 or with respect to an otherwise qualified handicapped individual as provided in Section 504 of the Rehabilitation Act of 1973 will also apply to any such program or activity." 8. Additional Assurances The Borrowers will remain fully obligated under the provisions of this Agreement notwithstanding its designation of any third party or parties with written approval of the Lender for the undertaking of all or any part of the program with respect to which assistance is being provided under this Agreement. The Borrowers will comply with all applicable laws, rules and regulations of the Lender, the State of Montana, and the United States Government and with all lawful requirements of the Lender so as to insure that this Agreement is carried out in accordance with the obligations and responsibility of the Lender of the State of Montana. 9. Insurance A. The Borrowers agree to provide fire and extended coverage insurance protection on machinery, equipment, furniture and fixtures in the sum of at least 80 percent of the cost of replacing the machinery, equipment, furniture and fixtures. Said policy may be made payable to the Partnership, however, should the Partnership decide not to replace the lost machinery, equipment, furniture and fixtures, the proceeds of the policy shall be made payable to the Lender for the amount of Lender' s interest in such machinery, equipment, furniture and fixtures. Such requirement to pay the Lender's interest shall be subject to any liens in a superior position under State and Federal Law. B. The Borrowers may, upon written approval of the Lender, in the event of loss, apply insurance proceeds received by the Lender towards the payment of the loan or use the proceeds to replace the machinery, equipment, furniture and fixtures destroyed. During the term of this Loan Agreement, when the Borrowers renew the insurance policy by payment of an additional year's premium, the Borrowers will provide proof of payment of the premium to the Lender so as to keep the Lender advised at all times that the properties are insured. Failure to so notify the Lender is an event of default of this Loan Agreement for purposes of the default provisions of Section 6 above. 10. Litigation Page 4 of 9 , . The Borrowers state that to the best of its knowledge and belief there are no suits or proceedings pending or threatened against or affecting it which, if adversely determined, would have a material adverse effect on its financial condition. h1 addition, to the knowledge of the Borrowers, there are no proceedings by or before any govenunental commission, board, bureau or other administrative agency pending, or threatened against the Borrowers. 11. Attorney's Fees In the event that either party incurs legal expenses, including the costs, expenses, salary and fees of the in-house counsel. to include City Attorney, to enforce the terms and conditions of this Agreement, the prevailing party is entitled to recover reasonable attorney's fees and other costs and expenses, whether the same are incurred with or without suit, including fees on appeal. 12. Avoidance of Conflict of Interest The Borrowers covenant that no officer, member. agent, or employee of the Lender who participates in the administration of this Agreement in other than a purely ministerial capacity will have any personal interest, real or apparent. in the proceeds of the loan provided hereby. For purposes of this covenant, an impermissible conflict of interest exists if the officer, member, agent or employee; any member of his or her immediate family; his or her partner; or an organization which employs, or is about to employ, any of the foregoing has a financial or other interest in the proceeds hereof during his or her tenure or for one year thereafter. The Borrowers shall incorporate, or cause to be incorporated, in all contracts or subcontracts a provision prohibiting such interest pursuant to the purposes of this section. 13. Construction and Venue This Agreement will be construed under and governed by the laws of the State of Montana. In the event oflitigation concerning it, venue is in the 18th Judicial District Court, Gallatin County, Montana. 14. Modifications Any amendments or modifications of this agreement, or any provisions herein shall be made in writing and executed in the same manner as an original document and shall after execution become part of this agreement. 15. Demand: Any demand upon or notice to either party shall be by personal service or addressed and mailed to the following addresses: LENDER: BORROWER: City Manager Bozeman Creek Family Health, PLLC P.O. Box 1230 316 East Babcock Bozeman, MT 59771 Bozeman, Montana 59715. Mailing shall be by certified mail, return receipt requested, and shall be effective when served or three (3) days after deposit in the United States Mail, whichever occurs first. Page 5 of 9 . 16. Waiver No waiver of any default shall constitute a waiver of any other default, nor shall such waiver constitute a continuing waiver. No waiver of any term or condition of this Agreement shall constitute a waiver of any other term or condition, whether or not similar, nor shall such waiver constitute a continuing waiver. 17. Headings The headings used in this Agreement are for reference purposes only. 18. Binder This Agreement shall be binding upon the heirs, personal representatives, successors and assigns of the Parties. 19. Authority The undersigned Borrowers affirm that they have the authority to enter into this agreement on behalf of themselves and the partnership and to bind the undersigned Borrowerd and partnership to this Agreement. DATED THIS f(f:!:.:- day of ~/un.r~ .2~ BORROWERS: B Page 6 of 9 . LENDER: CITY OF BOZEMAN By:(~A.~ Cluis A. Kukulski, City Manager ATTEST: ~~v~ Clerk of Commission STATE OF MONTANA ) :ss County of Gallatin ) On this ~ day of February 2005, before me, a Notary Public for the State of Montana, personally appeare Sarah E. Bronsky, Rebecca E. Canner and Andrea K. Cady, known to me to be the Partners of Bozeman Creek Family Health, PLLC and the persons whose names are subscribed to the within instrument, and acknowledged to me that they executed the same for and on behalf of the Bozeman Creek Family Health, PLLC. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on the day and year first written above. (SEAL) - .~ ~-=.;. Printed Name ofmtary Public Notary Public for the State of Montana Residing at Bozeman, Mo,tana 2./:)oS- My Commission Expires t!.... L~ Page 7 of 9 . . STATE OF MONTANA ) :ss County of Gallatin ) On this 8e day of February 2005, before me, a Notary Public for the State of Montana, personally appeared SARAH E. BRONSKY known to me to be the person whose name is subscribed to the within instrument, and acknowledged to me that she executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on the day and year first written above. . (SEAL) - I~ I-~~Od,"" Print Name of No Public Notary Public for the State of Montana Residing at Bozeman, Mora 2..00 r My Commission Expires . 1& STATE OF MONTANA ) :ss County of Gallatin ) On this e day of February 2005. before me. a Notary Public for the State of Montana, personally appeared REBECCA E. CANNER known to me to be the person whose name is subscribed to the within instrument, and acknowledged to me that she executed the same. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on the day and year first written above. (SEAL) , I~. ~ ...a,~,.. Printed ame ofNot~ Public Notary Public for the State of Montana Residing at Bozeman, Mo~a "Z-Mr My Commission Expires Co /3 STATE OF MONTANA ) :ss County of Gallatin ) On this8'~ day of February 2005, before me. a Notary Public for the State of Montana, personally appeared ANDREA K. CADY known to me to be the personswhose name is subscribed to the within instrument, and acknowledged to me that she executed the same. Page 8 of 9 . . IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on the day and year first written above. (SEAL) ~ ~~""=&7 - Printed Name of Not Public Notary Public for the State of Montana Residing at Bozeman, Montana My Commission Expires As c.. d 2fy..,,<:j STATE OF MONTANA ) :ss County of Gallatin ) On this ~day of February 2005, before me, a Notary Public for the State of Montana, personally appeared Chris A. Kukulski and Robin L. Sullivan, known to me to be the City Manager and the Clerk of Commission of the City of Bozeman, respectively, of the City of Bozeman and the persons whose names are subscribed to the within instrument, and acknowledged to me that they executed the same for and on behalf of the City of Bozeman. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my seal on the day and year first written above. ~ 4~_Ll"~ ...- (SEAL) Printe ame of Notary ublic Notary Public for the State of Montana Residing at Bozeman, Motana ZooS- My Commission Expires c-l~ . Page 9 of 9 . . Bozeman Creek Family Health, PLLC Enter Values 1 Loan Summal'l loan Amount $ 200,000.00 1_ Scheduled Payment $ 2,850.34 Annual Interest Rate 5.25 % Scheduled Number of Payments 96 loan Period In Years 7 Actual Number of Payments 96 Number of Payments Per Year 12 Total Early Payments $ - Start Date of loan 2/5/2006 Total Interest $ 49,928.19 Optional Extra Payments Lender Name: 1 City of Bozeman I Pmt Payment Beginning Scheduled Extra Total Ending No. Date Balance Payment Payment Payment Principal Interest Balance 1 3/5/2005 $ 200,000.00 $ 875.00 $ - $ 875.00 $ - $ 875.00 $ 200,000.00 2 4/5/2005 200,000.00 875.00 . 875.00 - 875.00 200,000.00 3 5/5/2005 200,000.00 875.00 - 875.00 - 875.00 200,000.00 4 6/5/2005 200,000.00 875.00 - 875.00 - 875.00 200,000.00 5 7/512005 200,000.00 875.00 - 875.00 - 875.00 200,000.00 6 8/512005 200,000.00 875.00 - 875.00 . 875.00 200,000.00 7 9/5/2005 200,000.00 875.00 - 875.00 - 875.00 200,000.00 8 10/512005 200,000.00 875.00 - 875.00 - 875.00 200,000.00 9 11/512005 200,000.00 875.00 - 875.00 - 875.00 200,000.00 10 12/512005 200,000.00 875.00 - 875.00 . 875.00 200,000.00 11 1/512006 200,000.00 875.00 - 875.00 - 875.00 200,000.00 12 2/512006 200,000.00 875.00 - 875.00 . 875.00 200,000.00 13 3/5/2007 200,000.00 2,850.34 - 2,850.34 1,975.34 875.00 198,024.66 14 4/512007 198,024.66 2,850.34 - 2,850.34 1,983.98 866.36 196,040.69 15 5/512007 196,040.69 2,850.34 - 2,850.34 1,992.66 857.68 194,048.03 16 6/512007 194,048.03 2,850.34 . 2,850.34 2,001.38 848.96 192,046.65 17 7/512007 192,046.65 2,850.34 - 2,850.34 2,010.13 840.20 190,036.52 18 8/512007 190,036.52 2,850.34 . 2,850.34 2,018.93 831.41 188,017.60 19 9/5/2007 188,017.60 2,850.34 - 2,850.34 2,027.76 822.58 185,989.84 20 10/512007 185,989.84 2,850.34 - 2,850.34 2,036.63 813.71 183,953.21 21 11/512007 183,953.21 2,850.34 - 2,850.34 2,045.54 804.80 181,907.67 22 12/512007 181,907.67 2,850.34 - 2,850.34 2,054.49 795.85 179,853.18 23 1/512008 179,853.18 2,850.34 - 2,850.34 2,063.48 786.86 177,789.70 24 2/512008 177,789.70 2,850.34 - 2,850.34 2,072.51 777.83 175,717.19 25 3/5/2008 175,717.19 2,850.34 - 2,850.34 2,081.57 768.76 173,635.62 26 4/512008 173,635.62 2,850.34 - 2,850.34 2,090.68 759.66 171,544.94 27 5/512008 171,544.94 2,850.34 - 2,850.34 2,099.83 750.51 169,445.11 28 6/512008 169,445.11 2,850.34 . 2,850.34 2,109.01 741.32 167,336.10 29 7/5/2008 167,336.10 2,850.34 - 2,850.34 2,118.24 732.10 165,217.86 30 8/5/2008 165,217.86 2,850.34 . . 2,850.34 2,127.51 722.83 163,090.35 31 9/512008 163,090.35 2,850.34 .- 2,850.34 2,136.82 713.52 160,953.54 32 10/512008 160,953.54 2,850.34 . 2,850.34 2,146.16 704.17 158,807.37 33 11/512008 158,807.37 2,850.34 - 2,850.34 2,155.55 694.78 156,651.82 34 12/512008 156,651.82 2,850.34 . 2,850.34 2,164.98 685.35 154,486.84 35 1/512009 154,486.84 2,850.34 . 2,850.34 2,174.46 675.88 152,312.38 36 2/512009 152,312.38 2,850.34 - 2,850.34 2,183.97 666.37 150,128.41 37 3/512009 150,128.41 2,850.34 - 2,850.34 2,193.52 656.81 147,934.89 38 4/5/2009 147,934.89 2,850.34 - 2,850.34 2,203.12 647.22 145,731.77 39 5/5/2009 145,731.77 2,850.34 - 2,850.34 2,212.76 637.58 143,519.01 40 6/5/2009 143,519.01 2,850.34 . 2,850.34 2,222.44 627.90 141,296.57 41 7/512009 141,296.57 2,850.34 - 2,850.34 2,232.16 618.17 139,064.41 42 8/512009 139,064.41 2,850.34 . 2,850.34 2,241.93 608.41 136,822.48 43 9/512009 136,822.48 2,850.34 - 2,850.34 2,251.74 598.60 134,570.74 44 10/512009 134,570.74 2,850.34 - 2,850.34 2,261.59 588.75 132,309.15 45 11/512009 132,309.15 2,850.34 - 2,850.34 2,271.48 578.85 130,037.67 . 46 12/512009 130,037.67 2,850.34 . 2,850.34 2,281.42 568.91 127,756.25 47 1/512010 127,756.25 2,850.34 - 2,850.34 2,291.40 558.93 125,464.85 48 2/5/2010 125,464.85 2,850.34 - 2,850.34 2,301.43 548.91 123,163.42 49 3/512010 123,163.42 2,850.34 - 2,850.34 2,311.50 538.84 120,851.92 50 4/5/2010 120,851.92 2,850.34 - 2,850.34 2,321.61 528.73 118,530.31 51 5/512010 118,530.31 2,850.34 . 2,850.34 2,331.77 518.57 116,198.55 Page 1 012 ! . Bozeman Creek Family Health, PLLC Enter Values Loan Summal1 Loan Amount $ 200,000.00 1_ Scheduled Payment $ 2,850.34 Annual Interest Rate 5.25 % Scheduled Number of Payments 96 Loan Period in Years 7 Actual Number of. Payments 96 Number of Payments Per Year 12 Total Early Payments $ . Start Date of Loan 2/5/2006 Total Interest $ 49,928.19 Optional Extra Payments Lender Name: I City of Bozeman I Pmt Payment Beginning Scheduled Extra Total Ending No. Date Balance Payment Payment Payment Principal Interest Balance 52 6/5/2010 116,198.55 2,850.34 - 2,850.34 2,341.97 508.37 113,856.58 53 7/5/2010 113,856.58 2,850.34 - 2,850.34 2,352.21 498.12 111,504.37 54 8/5/2010 111,504.37 2,850.34 . 2,850.34 2,362.50 487.83 109,141.86 55 9/512010 109,141.86 2,850.34 - 2,850.34 2,372.84 417.50 106,769.03 56 10/512010 106,769.03 2,850.34 - 2,850.34 2,383.22 467.11 104,385.80 57 11/512010 104,385.80 2,850.34 - 2,850.34 2,393.65 456.69 101,992.16 58 12/5/2010 101,992.16 2,850.34 - 2,850.34 2,404.12 446.22 99,588.04 59 1/512011 99,588.04 2,850.34 - 2,850.34 2,414.64 435.70 97,173.40 60 2/512011 97,173.40 2,850.34 . 2,850.34 2,425.20 425.13 94,748.20 61 3/5/2011 94,748.20 2,850.34 . 2,850.34 2,435.81 414.52 92,312.38 62 4/512011 92,312.38 2,850.34 - 2,850.34 2,446.47 403.87 89,865.92 63 51512011 89,865.92 2,850.34 . 2,850.34 2,457.17 393.16 87,408.74 64 6/512011 87,408.74 2,850.34 - 2,850.34 2,487.92 382.41 84,940.82 65 7/512011 84,940.82 2,850;34 . 2,850.34 2,478.72 371.62 82,462.10 66 8/512011 82,462.10 2,850.34 - 2,850.34 2,489.56 360.77 79,972.54 67 9/512011 79,972.54 2,850.34 - 2,850.34 2,500.46 349.88 77,472.08 68 10/512011 77,472.08 2,850.34 . 2,850.34 2,511.40 338.94 74,960.69 69 11/512011 74,960.69 2,850.34 - 2,850.34 2,522.38 327.95 72,438.30 70 12/5/2011 72,438.30 2,850.34 - 2,850.34 2.533.42 316.92 69,904.89 71 1/512012 69,904.89 2,850.34 - 2,850.34 2,544.50 305.83 67,360.38 72 2/512012 67,360.38 2,850.34 . 2,850.34 2,555.63 294.70 64,804.75 73 3/512012 64,804.75 2,850.34 - 2,850.34 2,566.81 283.52 62,237.93 74 4/512012 62,237.93 2,850.34 - 2,850.34 2,578.04 272.29 59,659.89 75 51512012 59,659.89 2,850.34 - 2,850.34 2,589.32 261.01 57,070.57 76 6/512012 57,070.57 2,850.34 . 2,850.34 2,600.65 249.68 54,469.91 77 7/5/2012 54,469.91 2,850.34 . 2,850.34 2,612.03 238.31 51,857.88 78 8/512012 51,857.88 2,850.34 - 2,850.34 2,623.46 226.88 49,234.43 79 9/512012 49,234.43 2,850.34 . 2,850.34 2,634.93 215.40 46,599.49 80 10/512012 46,599.49 2,850.34 - 2,850.34 2,646.46 203.87 43,953.03 81 11/512012 43,953.03 2,850.34 . 2,850.34 2,658.04 192.29 41,294.99 82 12/512012 41,294.99 2,850.34 - 2,850.34 2,669.67 180.67 38,625.32 83 1/512013 38,625.32 2,850.34 - 2,850.34 2,681.35 168.99 35,943.97 .84 2/512013 35,943.97 2,850.34 - 2,850.34 2,693.08 157.25 33,250.89 85 3/512013 33,250.89 2,850.34 - 2,850.34 2,704.86 145.47 30,546.02 86 4/512013 30,546.02 2,850.34 . 2,850.34 2,716.70 133.64 27,829.33 87 5/512013 27,829.33 2,850.34 - 2,850.34 2,728.58 121.75 25,100.75 88 6/512013 25,100.75 2,850.34 - 2,850.34 2,740.52 109.82 22,360.23 89 7/512013 22,360.23 2,850.34 - 2,850.34 2,752.51 97.83 19,607.72 90 8/5/2013 19,607.72 2,850.34 . 2,850.34 2,764.55 85.78 16,843.16 91 9/512013 16,843.16 2,850.34 . 2,850.34 2,776.65 73.69 14,066.52 92 10/512013 14,066.52 2,850.34 - 2,850.34 2,788.79 61.54 11,271.72 93 11/512013 11,271. 72 2,850.34 . 2,850.34 2,801.00 49.34 8,476.73 94 12/512013 8,476.73 2,850.34 - 2,850.34 2,813.25 37.09 5,683.48 95 1/512014 5,663.48 2,850.34 . 2,850.34 2,825.56 24.78 2,837.92 ___96 __~.'?!~Q1.~..__._._2,837.9?__-1.&?O.31__.___-=--__ 2,837.92 2,825.50 12.42 - "~.'~...............,~~- Page 2 of 2