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SEP-24-20B1 10:38 ttJSK INUESTrtNT BPT«<ERS 763B477328 P.03/08 <br />8«Im a. Tbt ibaQ have a 18-ycar final maturity and <br />•Kail amortia mrcr a 3S>yaar mn achedula. <br />SarlaaB. Tte Bondi iball amoitiaa in yam 2004^7. <br />8arl«C. The Bondi ihaUamoitizB over 30 yean. <br />InttrwtRala EitimatedmttrettniteiareasfoUowf: <br />Series A: <br />Series B: <br />Series C: <br />6.125% <br />8.00% <br />9.00% <br />(SerieeAAB): <br />Mandatecy Bedrftien: <br />MaufeBMit Contract: <br />Sonreesaad Vms ofFwidi: <br />The Bommer, wifi* die approval of die Issuo. i^ at dieir option <br />may redeem any or all of die outstanding principal of die Bonds <br />on any interest paynient date with 60 dayi prior notice according <br />to the following nchcdule: <br />Years M <br />Years <br />Ycar6 <br />Year 7 and Thenafker <br />No Optional Redemption <br />102'*/* of Par Value Outstanding <br />101% of Par Value Outstanding <br />Par <br />Ihi Borrower shall redeem Series C bonds w th 50% of excess <br />ftitiityi cash flow upon project atabilixatioc. Annual tutu cash <br />flow be defined as cash flow after the S ea A and Series B <br />Bonds have been paid and aflar the repeir enc replacement fund <br />has been flinded. <br />Tha Borrower will enter into a Management Contract with Oreat <br />Lakes Management hioorpoated, a Minne^ for-profit <br />corporation. The Management Contract entered itiio with Oreat <br />1*1^ will conform to tha **Manageinent Contract Rules** u <br />provided for in Federal tax law, without any impainneot to tha <br />ux-«xcropt natuR the Bonds. <br />An approximatic!! of die Sourees and <br />Project is as follows: <br />Sairttr <br />Par Amount of Series A <br />Par Amount of Series B <br />Par Amount of Series C <br />Equity Contribution <br />Total Sources; <br />sea of Funds for the <br />$7^85.000.00 <br />235.000.00 <br />350,000 00 <br />SiJOMim <br />Underwriter*! Discount <br />Cost of Issuance <br />Debt Service Reserve Pond <br />Capitalixed Inte;est Fund <thru 4/1 A)3) <br />Project CoDStmetion Fur.d_______ <br />195.500.00 <br />194.806.00 <br />547.828.76 <br />575.267.76 <br />5,139,780.76 <br />Miller Johnaon Steichen Kinnard, Inc.