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ORONO GOLF COURSE • GOLF FACILITY RENOVATION <br />Analyais of Supportoblo Construction Costs <br />Mortgage Financing Scenario - Prepared March 30. 2002 <br />NET CASH FLOW YEAR CASH FLOW <br />2002 $33,617 <br />2003 $64,138 <br />2004 $76,767 <br />2005 $71,748 <br />2006 $99,258 <br />2007 $91,345 <br />2006 $87,660 <br />ASSUMPTIONS <br />Starting Year (Financial Time Linej 2002 <br />Debt Coverage Ratio 1.3 <br />Amortization Period 15.00 <br />Interest Rets 6.00% <br />Points 0.00% <br />Bond Issuance Cost $20,000 <br />Short Term Investment Rate 5.00% <br />Operating/Oebt Service Reserves $0 <br />Monthly Loan Amortization Rate 0.00858 <br />Annual Loan Amortization Rate 0.10296 <br />Monthly Debt Service 3,518 <br />Annual Debt Service 42.215 <br />SUPPORTABLE LOAN AMOUNT <br />Stabilized Cash Row - 2004 76,767 <br />Coverage Ratio 1.3 <br />Income Available for Debt Service 59,052 <br />Mortgage Constant 0.10296 <br />Sueeortable Lean Amount $573,539 <br />SUPPORTABLE CONSTRUCTION COST <br />Less: <br />Points and Bond Issuance Costs <br />Construction Period Interest (Year 1) <br />Construction Period Interest (Year 2) <br />Reserve for Operating Shortfalls <br />Total Raaarva <br />Add: <br />Interest Income <br />Construction Fund Interest Income (Yr. 1) <br />Construction Fund Interest Income (Yr. 2) <br />Reserve Interest Income (Yr. 1) <br />Reserve Interest Income (Yr. 2) <br />Net Deductions <br />SuoDortable Construction Cast <br />---- <br />(20.000> <br />0 <br />(25,000) <br />0 <br />($25.0001 <br />15,350 <br />0 <br />0 <br />0 <br />(29,650) <br />$543,889