Page 1
~ ~ ~ 1 / 1 1 ~ 2 ~ 1 ' 1 1 I 6 0 1 FAX 2 7 0 4 4 2 8 0 0 0 0 E t i T 0 Hat K E l i L E R
Dtmtoca CPC Keuter, ELI? ATTORNEYS AT LAW POST OFFICE BOX 929
555 JEFFERSON STREET SUITE 301 BADUCAK, KENTUCKY 42002-0929
TELEPHONE. (270) 443-8253 FACSIMILE: (270) 442-6000 E-MAIL: dklawad klaw.com
c
NOTfCCP. The inlbmtion contained iu this facsiniile message is iirwnded only lor Ute use of the individual w entity ta which it is ad- drcrvad and i w y contain hfonnalion UW is kgally privilcgcd, confidcnliaf arad cxmpt from disclosure d e r applimblc law. Lf the readcr of this rmssagc is not Lhc: inteiiQed mipien& yuu are hlxctby notifid rhRt my disseminatioo, dislribution or copyiq o l this corrununicalion k s t r i d y prohibird If you have received this comonunicstion ~1 m o r , please aotify US immcdiotely by telephoae slid return onginnl mesylge to US at rhc abovc address via U.S. Postal &vim. YOU.
TRANSMITTAL COVER SHEET
CQ MM ENTS/SPECLAL INSTRUC'CKO NS
Page 2
!:~1/11,’2QIl 1 6 0 1 F A X 2 7 0 4 4 2 6 0 0 0 D E H T O N 8KEU L E R
COMMONWEALTH OF KENTUCKY BEFORE THE PUBLIC SERVICE COMMISSION
1N THE MATTER OF:
APPLICATION OF JACKSON PURCHASE j
REFINANCE FROM COBANK AND EXECUTE ) NECESSARY NOTES 1
ENERGY FOR AUTHORTZATION TO ) Case No. 2010-00229
JACKSON PURCHASE ENERGY CORPORATION’S NOTICE OF COMPLIANCE WITH COMMISSION’S ORDER
Comes Jackson Purchase Energy Corporation (“JPEC”) and in compliance with the
Commission’s Order dated July 6, 2010, tenders updated versions of Exhibits 1 and 3 from
JPEC’s Arncnded Application which reflect the savings based on the actual amounts of h e new
CoBank loans. Said Exhibits are artached hereto and incorporated herein by reference
collectively as Exhibit “A”
Respectfully submitted,
DENTON &I KEULER P. 0. BOX 929
Telephone: (270) 443-8253 Facsimile: (270x442-6000
PADUCAH KY 42002-0929
ATTORNEYS FOR JPEC
Page 3
0 1 / 1 1 / 2 0 1 1 I 8 0'1 FAX 2 7 0 4 4 2 8 0 0 0 DE tI T 0 11% K E IJ L E R
1 hereby certify that the foregoing has been served by faxing and mailing a t rue and correct copy to:
MR JEFF DEROUEN EXECUTIVE DIRECTOR KENTUCKY PUBLlC SERVICE COMMISSION 21 1 SOWER BLVD. FRANKFORT KY 40602 Facsimile: (502) 564-3460
2
Page 4
Jack ergy Corp.
RUS Refinancing Term Loan $5,921,752.87
(Final Loan Amount) ank Loan Number- RX0731T7
May 28,2060
Table of Contents
Executive Summary
1. Existing RUS Loan Profile & Summary Analysis
y Side Comparison of RUS Notes and CoBank Loan
3. CoBank Patronage and Effective Cost of Borrowing = RUS Notes
Closing Frocedwres
--- -- Exhibit A
Page 5
r ‘ i l / l l / 2 Q l l I 6 0 1 F A X 2 7 0 4 4 2 6 0 0 0 D E H T 0 t I & lrI ElJL ER
Executive Summary
Jackson Purchase Energy Corp (Jackson Purchase) currently holds approximately $5.9 million in RUS debt at an interest rate of 5%, which would qualify for CoBank refinancing at a life time fixed rate currently of 4.69%. At such a rate, CoBank’s patronage refinds would result in an effective rate of approximately 3.97%, an effective savings of 72 basis points. The total projected savings amounts to $498,743 with a present value of $329,613. CoBank requests Jackson Purchase’s consideration as lender for these loans. Such refinancing of mortgage debt is permitted by RUS under Article 11, Section 2.02 of the Mortgage.
We have enclosed for your review a profile of existing eligible notes including a comparison of savings opportunity (Tab I), a side by side comparison of the RUS loans’ interest cost versus CoBank’s loan interest cost and patronage payments (Tab 2), an analysis of CoBank’s Patronage Refunds, Capital Plan and Effective Cost of Borrowing (Tab 3) andl a summary of anticipated dosing procedures (Tab 4).
We propose to consolidate the nine RUS notes into a single note with a principal repayment schedule matching the consolidated scheduled principal payments of all of the RUS refinanced notes (16.35 years), This would decrease Jackson Purchase’s administration while, at the same time, not increase principal debt service.
CoBank is pleased to have this opportunity to present this information as part o f its effort to find innovative ways for Jackson Purchase to enhance its success. This booklet i s not a coinmitment to lend or an offer to make a loan. A commitment shall be in the form of a loan agreement upon receipt of an acceptable application, resolution, and other documentation as required by CoBank. Thank you for your consideration.
.---. . Exhibit A
Page 6
0 1 / 1 1 / 2 ~ 1 1 76 0 1 F A X 2 7 0 4 4 2 6 0 0 0
TAB 1
@I 0 0 6 / 0 3 7
Page 7
~ : ~ 1 / 1 1 / 2 r ) l l 16 0 1 F A X 2 7 0 4 4 2 6 0 0 0 D E N T 0 14% K E iJ L E R @I 0 0 7 / 0 3 7
RUS notes proposed for refinancing:
Note ID
18260 18262 19270 1B273 18280 10281 18283 lB290 1B292
Principa! Balance
340,783.66 340,784.88 7 15,84414
883 , 301,lO 306.06
908,425.84 997,515.84 997,515.84
737,262.58
Totals 5,929,739.94
Flnal Payment Dale 0 S/ 3 1/ 2 0 17 05/31/2017 07/31/2019 07/31/2019 08/31/2023 08/31/2023 08/3 1/2 02 3 10/3 1/2 0 2 6 10/31/2 026
Years Re ma 1 n 1 ng
6.92 6.92 9.09 9.09 13.18 13.18 13.18 16.35 16.35
16.35
Welghted Average Life
3.94 3.94 4.84 4.87 7.27 7.30 7.30 9.24 9.24
6.92
The CoBank loan aniount for this transaction is $5,921,752 87 reflecting an overage of $1 2.93 when compared to the RUS payoff amount listed above. The overagc was due to rounding differences between CoBank’s modeling sofiware and RUS’ loan records. T h e S 12.93 overage was applied as a reduction in the final loan amount: for Jackson Purchase’s second RUS refinance loan (Note number RX073 IT8 in the amount of $3,344,239.29). SCC the proposal package for loan RX0731TS in the amount of $3,344,239.29 For additional details.
Interest Savings (over M e of notes): Total Interest Totali Interest RUS @, 5.00% CoBank @, 4.69% Total Savings
$2,064,159 $1,979,093 $85,666
CoBank Cash Patronage Refund: $268,500
CoBank Stock Patronage Refund: $144,577
Total Life Time Benefit:
Present Value of Benefit (discounted @, 4.69%) $Ls29.w_3.
There me no prepayment penalties arising from prepayment of RUS debt. CoBank would document this transaction using outside counsel to be paid by Jackson Purchase. The estimated cost is $15,000 and i s included in the loan analysis under tab 2 (shown in the column Patronage Rehnd). The documentation cost is considered in the effective interest rate analysis.
“Exhibit A
Page 8
n 1 / 1 1 / 2 0 1 1 1 6 0 1 FAX 2 7 0 4 4 2 6 0 0 0 DE t l T rJ N8 K E UL E R
TAB 2
Page 9
$ l / l 1 / 2 0 1 1 16 0 1 Fki: 2 7 0 4 4 2 6 0 0 0 . I - -
D E N T 0 El & K E IJ L E R
2010 2011 20$2 2013 2014 201 5 2018 20q7
2018 2020 2021 2022 2023 2021 2029 2020 2027 2028 2028 2030 2031 2032 2033 2034 2035 2090 2037 2036 2039 204a 2041 mu 200 2044 2045
Sum
20ie
Prlnolpal Balanee
$9,727,884 S6.322,@74 k4,1108,121 Sd,W,808 .~.88o.e24 sspe0.406 52,867,dIQ 62,484'769 f I 2 . O a 2 . W
tI,U9,102 S1.064.207
9733,078 w , 7 3 1 uO4,063 1134i.esB
$0 W 0 80 $0 so
SO so w w bo w Bo SO so $0 go $0 $0
s ~ , w , a s ~
i o
Jackson Purchase Energy Annual Summary
Scenario 0 Matchlng RUS Principal Repayment
Loan Amount CoBank Loan Interest Rate
Lifetlme Cash Flow Savings
Llfetlme CoBank Patronage Llfetlrne Interest Savings
Llfetlme NPV Benefit
Carnblnod RUS Loans
Annusl Intorouc Paymen1
S I ~ O ~ S $277,163 $268,680 8234722 $211,033 2187,788 $182,624 s ~ m m a t i l 3 , ! W 591,%88 975,858 11,026 W6.433 529,610 $18,6Q7 $1 1,437
62,979 so Eo I $0 so 60 so SO so tu Bo 60 rfo M c sa
$R to
sa
$6,829,763 02,0W,7SB V,@66,912
Annual Cash Flow DtffnnntlRl
-Sa.208 $32,715 $48,507 Waifi w.e~ $34,720 $32,344 327.810 $23.365 $19,299 $16.625 $12,8dlJ $iO,IY
S7,34? 24793 53.100
$26,413 4 1 , f 17 321,a82 sia.226 S i 4,662 612,136 50.758 $7,264 W 7 1 7 13,136 $1,026
$474
sa $0 50 Lo 50 60 IO
sage.743
Toto1 Ann Csah
Flow
sw,rno $#9,340 W32,7A0 S637PO6 w1,142 $645,276 1048.147 f581.538 6Yl,S31 W8,37A SW9,VM $352,992 6395,088 $2291.31 a 8174,502 E17C,330 S113,522 4228,117 421,862 -E10,226 .si4,c1ez 512,135 39,759 -S7.2W -96.717 -13,136 -E? ,820
4 4 7 4 50 so $0 VI so sa 10 IO
57.087,769
$5,921,753 4.69%
$498,743
$413,077
gas,see $329,613
Annusl Inlniad Psyrnsnr
61M.330 s z e x m $243,925 &223,U7 S201'405 Si78'590 E14t,56S 5135,004 5108,381
IO7,lRG 172,143 568.037
$20,070
810,872 $2,833
so $0
SO so 80 so 60
50 so SO 30 so 50 so so SO 60
w3,20a
6 1 n . w
sa
CoOank Loan
Annusl Prtnclpul Psymonl
91 83.673 W06.906 w?.4,847 W . 3 1 9 $470,184 9 9 4 2 1 5 C518.987 5402,659 $451,913 $383,987 $288,768 5304,813 $320,409 G!U9,147 $168,708 SlGa.007 I136,9%
10 so IO so $0 so t10 $0 sa Lo 50 80 so $0 %I SO so so $0
54,379,095 C6,%21.763
Prlnclpal Balance
S5,127,EBD 66,322,874 W,W0,127
63,980,824 03,486,dGG 52.967,61Q
wm,noe
fl,d&4,799 w,032,840 Si.&(B.BSB $1,351,102 S I , O ? L ~ , Z B ~
$733.078 WU.731 535d,963 5138,968
$4 50 sa $0 80 so so 50 $0 $a VI $0 60 It0 80 so # so so so
Pscronoare Rofund
so 319.441 -330,026 .333,3ao -538,507 -S27.Y32 -E24,406 421.120 -$17,763
-511.913 S~Q,BOS
4B.059 57,929 bY.902 61,833 52,543
-626,267 -026,117
4 1 8.22 6 -114,667 412.135
.S8.759 37,264 6 4 7 1 7 43,136 -51,826
4474 so SO $0 so SO w $0 60
$413.077
-~zi,nez
Exhibit A
Page 10
0 7 / 1 ' l / 2 0 1 1 76 0 1 FAX 2 7 0 4 4 2 6 0 0 0 DE H T 0 H & K E IJ L E R
OA13012010 07/31/20,010 08/31/20 10 09130/2010 1013mo10 11/30/2010 12O1/2010 01/31/2011 02/28120 1 1 03131J2011 04/30/20 1 1 06/31 1201 1 06BO/2011 07/31/2011 00/91/20ii 08/30/2011 10/31/2011 11/30/2011 1Z131I2011 01/31/2012 0212912012 03/31/2012 04/30/20 12 05/31 120 12 06/30/2012 07/31/2012 08/31/2012 m/30/2012 10131/2012 11/30/2012 12/13 1,201 2 01131f2013 02rLOM013 03/31/2013 06/30/2013 05131/20 13 06/30/2013 07f31/2013 08/3 11201 3 OQI3Of 201 3
11MOIM13 1 m1/2013 0 1/31 /20 1 A
03A1/20lA Ba/30/201A 05/31/2014 08130/20 14 0713 1/2014 09/31/20 Id 09/30/201 A 10/31f2014 11130/201A 1 2 0 I /2014 01/31/2015 02,28/2015 03/31/2015 04/30/201S 06/31/2015 06/30/2015 07/31/2015 08/31/2015 OO/30f 20 16 10/31/2015 11130/2015
ioni/2013
0212em 14
Paymen1 Number
0 1 2 3 A
5 6 7 8 B 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 36 35 38 37 38 39 Q0 d1 42 A3 44 45 48 A7 48 40 60 S1 52 63 55 55
57 58 59 00
62
64 65
se
e i
e3
Scenario -
EXISTING RUS LOANS
Bogfnnlng Loan EalancB d 5.921,752.57 F m l Paymen1 Date 10131128 Rsmnlnlng Month& Pmtr 1% Inlilal RUS Monthly Pmt W9.173.36 Roll Fowerd Onla 06/36/1410
Matching RUS Principal Repayment
Co6ANK REFINANCING LOAN
Beolnnlnn Loan Balance Flnal PJyrnonl Datu RemElOlnR Monlhly Pink CoBANU Inl~fd$t Rots Lege1 Cosin
6 5,921,762.87 10131126
196 4.WA
6i5,OOO
Lifotlrno Interest $1,964,093 Llfollmo Inlamat $2,0Ba.769 Prosonl Value ot RUS Cesh Flow Jt1921.768 P I Q C O ~ L Value of CoBank Cash Flow
NPV Benoflt of Rofl lr.
Prlncrpel BQ~SW~I
SS,821,753 (1,898,863 6.051.286 5,625,444 6.800.259 S,753,3T9 5.727,MO 8,702,3% 6.85S.W 5.%27.173 5,iW01,007 J,553,%8B 6,528,884 5,5b0,66J 6,462,723 5,423,612 9,399,059 6,348,781 5,322,874 5,298,074 6,2d5,62A 5.2 18,549 5,180,487 b,tM.(188 5.112.669 6,0&(,9Q6 5,034,520 6.008.058 4,9711,090 4,926,328 4,890,124 6,069,807 ~ 8 i a . i ~ ~ 4707,559 4758,274 4706.883 4,018,538 4,6A7,27G 4,694,197
4,534876 Q,680,4!M 4460,808 4,420,993 4384,784 4,334,707 %30%.960 4.208,011
4.157,21A 4131.500 4,O!l9,985 %06u,994 4011,870 3,9EB,624 3.949.238
3,888,707 3,026,616 3,758,397 5,731,643 s . m m 3,644~178
4,564316
r,a I 7,oi o
S,BDO,JBB
3,611,024 3,579,303 3,61938
Comblned RU8 Loorr~
Prllxlpel Pafl*I-t
Szqese 45,557 25.822 25,224 48,9'68 B , @ B
48,800 26,773 26,YIO 47,338 26.764 26,219 67.842 n,119 28.558 40,204 26,786 28,800 60,550 27,138 27,082 49,BOQ 28,118
Jo.45s 28,082 27,960 61,771 2n,200 28,320 69.878 20,569 29.286 62bll 29,m 29,062 63,078 29,oos 28.437 34,378 28,888 29,016 S5,208 30.078 30,761 55,485 31.002 30,686 b5,OdB 31,381 30,989 57,110 91,asfb 31,308
31,081 32,291 50,019 32,666 32,207 68,768 32,9!i4 32,621
2 6 . w
27,6104
513.8~~
69.897
Intam1 Payment
O?A,G74 24610 24300 a8273 24,lSB 23,972 23.666 23,760 23S56 23,440 23.3Y) 23,140 23.028 22.919 22,720 22.607
22,291 22.179 22,087 21,868 21,763 21,027 21,420 21,362 21,107 20,9n 20,868
20,526 20,600 26'291 20,067 19,868 18,026 w o e 19486 18,564 18,142 18,018 '18.096 10,669 18,646 16.A21 16.?07 18,861 '(7,933 17,703 17,574 17,447 47.214 14,063 16.9W 40.718 16,SEB 18.465 16,210 16.078 15,943 15,702 l 5 . W 15.632 fS.187 15.060 14,914
2 2 , a ~
m , 7 4
Total Cash Flow
MQ,573 70.128 50,203 AO.AQ5 71,102 40,411 49,413 72.746 4R.320 60,017 70,675 49,826 48.210 70.802 48,890 4 9 , l U 71,790 40,077 48,079 72,817 011.881 @,63!3 77,436 48,630 68,900 71.032 48,439 46,810 72,513 48.727 4Il8.728 73.870 44,638 48.23 72,237 49.132 4%.&07 72,443 68.028 50,4u 79.273 40,358 44,901 74634 48.263 48,812 n , o a 48,705 4,189 73,296 AUSQ5 011,071
47.971 47,973 75.323 47,871 48.380 73.9S2 4 9 , Z S 47.773 74,190 48.14l 47,670 74,911
76,072
Tolal Cash Flow
W3.015
AO.OOO 68,305 68.818 40,237 48.2A4 71,502 28,033 48,881) 09.692 48,791. 48,120 68,739 48,718 48,067 70,606 17,885 A7,Q93 71.537 11,895 A8,m 70,3Z' 48,480 A7,&83 70,593 48.412 47,797 71,497 47.721 47,?30 72,078 14,313 48,267
4,172 47,593 7t.695 48,090 47.623 72,347 47.444 47,152 75,720 18,BMB
72,200 47,838 47.309 72.M1 47,752 67.236 73,241 47.162 07,169 74,617 18,565 47.581 73,102 47,688 47.010 79,435 07.397 68,933
ce,924
71,zee
47,928
74,101
Co9unk Loan
Irterefif Princlwl Payment Payment
523.9 1 (I 23.307 23,lOC 23,oild 22.994 22.790 22,097 22,698 22,4Q2 22.300 22.19s 22,007 21.001 21,797 21,807 21.1500 21,394 21.199 21.093 20,901 20.786 m,fm 20,668 20,371 20,259 20,lLu) 19, as0 19,837 18.726 19,321 19.409 19,297 13,064 18.071
1 8 . W 10,631 fS,dlS 10,206 10,OBl 17.070 17,7yI 17.037 17,319 17,288 17,177 17,066 16.8% 16,716 16,592 16.371 lGJ47 18,124 15.088 16,774 16.848 15,616 15.201 15,163 14,933 14,804 14,676
14,313
ia.0~15
1 4 ~ 3 - 3
i6,ia3
521,880 45.557 25.822 25,221 4,936 25,659 25,647 4 , B O G 29.773 26,560 47,338 28.704 2C,21 B 47,942 27.111 ZG,SY1 A9,294 26,786 26,900 M).66(1 27,135 27,882 48,009 28.119 27,604 60.645 28,462 27.WO 51,791 28,200 28,320 53,679 28.688 29,286 S2.411 29,624 29,062 33,079 Z@,085 29.437 50,378 29,888 29.016 56.208 90,076 30,761 55,l 45 31,002 30,596 66,048 31,301 30,989 67.118 3,25s 31.308 50,060 31,881 32.191 68,018 32,S55 32,207 ¶0,75E 32,856 32,621 59,997
Prlnclpel Lonol Costr Balsnce Pat. Refund
$6,921,753 5,896,853 5,E 61,288 S.0Z.474 S.800.263 6.753,319 5,727,800 5,702,335
5,027,579 5,601,007 5.663,669 5328,8M
6 ,G 2,7 2 3 5,425,812 5,399,055 6.3A0,761 9,322,974 5,238,074 6.2&,524 5,218,389 5, iw,a97 5.140.M88 5.1 12.589 S.064.986 S,OM,520 0,000.060 4,970,030 4,926,328 4,088,127
4818.120 4,70?,5SS 4,758,274 4.706.863 4,676,330 4,647,278 4.684197 4,5b4,312 4,534875 4,480,498 6,460,800 d.at0.993 4,364,784 4.334,707 4,303,956
4.217.810
4,131,366 4099,986 4.000.996 4,01 1,019 3,980,024 3,9d9,2M 3,890,308 3,058,707 3,82(1,H8 3,768,397 5.73 6.843 3,783,636 3,664878 3,691,624 3,679,303 3,519,306
5 .wa .w
s.soo,a~s
4869,e07
4.2a.ei i
4 . ~ 7 . 2 i 4
--
$16,000 0 0 0 0 0 0 0
49,141 0 0 0 0 0 0 0 0 0 0 0
-38.020 0 0 0 0 0 0 0 0 0 0 0
-33,360 0 0 0 0 0 0 0 0 0 0 0
-30.507 0 0 0 0 0 0 0 0 0 0 0
-27,532 0 0 8 0 0 0 0 0 - -. -.
xhibit A
Page 11
0 1 / 1 1 / 2 0 1 1 16 0 2 F A N
12/31/2015 01/31/2016 022012016 03/31/2016 OA/30/2Ot6 0513 7/2010
07/31/2016 08/31/2016
oe/30/2016
09/30/zniti 101311201 e 11/30/2018 12r31r2016 01/31/2017 02/28/2017 03/31/2017 06/30/2017 05/31/2017 oe/3o~ioi7 07/31/2017 0813 11201 7 09130120 17 1013112017 11/30/2017 1?131/2017 01/31/2018 OzI2812018 0313 11201 8 Od1301201 8 05/31/2018 06/30/2018 07/31/2010 os131120 i e MYJOIZR i a 1 o m 2 0 1 e i 21311201a
oziza/zoie
1 %30/2016
0 1 13 1 /20 19
03/31/2019 04/30/2019 O M 11201 9
07/31/2019 0813 1/20 16 08130/2018
1113012019 12/31/2018 0 1/31/2020 02~29L2020 03/31/2020 W30/2020 033 112020 oan0/2020 074112020 08/31 /20ao o9no/2ozo 10/3 112020 11/30/2020 12/31/2020 01 /31/202 1 0212812021 03/31/2021 04/30/2021 033 11202 1 0613012021 07/31/2021 08/31/2021
10/3 1/2021 11/3012021 1213112021 01 IS1 12022 0212e~022 03/31/2022 04/30/2022 0B31i2022 08/3012022 07/31/2022 03/31/2022 08/30/2022 1013 112022 1113012022 183 112022 014 112023
03/31/2023 W012023 05/51/2023
07/31/1023
0e/3a12oi~
1 o/3 in01 e
08/30/2021
o z 2 8 m a
oe13012023
66 67 BE e9 70 71 72 73 76 79 78 77 78 79 80 01 82 83 84
86 87 88 89 so 01 82 93 94 R5 98 07 98 OD 100 101 102 103 104 105 1 OB 107 1 OB 109 110 111 112 113 114 115 118 117 118 110 120 121 122 123 124 125 126 127 1 28 129 130 131 132 133 134 135 138 137
139 140 141 142 163 144 145 710 7 A7 148 lA9 150 151 152 153 164 155 156 157
as
13e
2 7 0 4 4 2 6 0 0 0
3,#6,406
3,392,170 3,368,861 3.324,0&3 3,263,908 3,229,720 3,1ms,,822 3,134,007 3.090,402 3,066,088 3,002,046 2,907,418 2,932,643 2,866.W 2,632,970 2,737,360 2.737,73!!
3.&3,3&8
2 , 7 0 1 , ~ 2 , w e , m 2,630,325 2,593,052 2,667.W 2,521,205 2A84.758 2.44a.119 2,410,387 2,373,481 2,;138,082 2290.037 2,241,146 2,223,598 2,186,BW 2,14r,ri7 2,109,886 2.071.203 2,0JZ,W 1,W4327 <,QY,524 1,916,973
1,837,512 1.?@7,911 1.76¶,253 1,742.200 1,718,942 1.095,757 1,672,242 l.W.859 1,625,376 l.M1,351 i ,sn,8w 1.663,666 isz0.7eo l,rJDS,h83 1,&81,493 1M.300
l,db0,dOS 1,383,110 1,368,102 1,334,589 1,308,023 i.286,osa 1,268.882 l , W , T L I 1,208.340 1.102.987 1,197.527 1,131.800 1 I 1 06,122 1,080,1W '1,0w.207 t ,028.2eo 4,001.7all
m , s o 349,036 822.u12 093,809 089.210 842,4f7 815,3B6 700,371 761,lM
706.510 878.736 651.135 82?m 6B6.490 567,453 539.37%
1,87e,cs5
i ,w,aos
733.1178
32,908 33,040
33.325 33.908 61,038 34,186 93,088 61,816 3460s 34,334 63,022 34826 34775 Bd668 32.076 35,610 68,026 35,909 36.878 36.833 3c,w 30,137 36,641 ulm 36,600 37,762
37,398 97,232 37,706 37,550 37,710 38,188 30,032 38,482 38.357 38,920 30,653 38,859 30,270 39,103 a9,wi 32,650 22,988 23.94 23.184 2331s 23,383 23.482 % a 7 W,E04 24.000 n,oo6 24.197 %OW 24,193 24,496 zB.s99 24,tBG 24608 24.712 25.W 24.825 25,207 26,i 24 25,414
25,460 24,727 26,670 25,938 25,887 2e.ooP x,m 26.230 26,47S 2yI,464 20,093 26,019 28,793 27.022 27,021 27,244 27362 27.367 27,nd 27,602 27,608 27,837 28,037 28,074
e i , i a ~
sa,9ic
2 8 . m
14pw 14.927 44,389
0,995
Q,BoO 13,467 13.318
14,134
i3.8m
13,nw 12.ei4 12,771 12,658 12,364 12.218 ll,BU) 1 f.804 11,656 71,407 11.268 11,109 '10'9BO
lO,GU1 10.606 10,353 10,201 10,063 v e o B+734 9.979 B.421 9,288 e.ioo 8.R4 8,780 0,630 8,470 0,310 0,145 7.889 7,020 7.658 7.491 7,399 7,259 7.162 7.068 6,988 8,870 6,772 0.872 6374
6,374 8,273 O,t73 6,072 ti870 5,860 5,785 6.803 S,%O 6.464 5,350 6 . M 5,141 9,036 4,620 4,823 4,716 am9 4.80 1 4,303 d288 8,170 5,OCS a,ew 3 , w 3,733 3.822 3,410 3,367 3,265 3,171 3,058 2.961
2,713 2,687
2,304
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2.1128
2,401
47.w 47,567 75,678 47.459 47,iM3 74,032 47,786 47,s53 ~ s , i a i 43,663 47,240 75,7a3 47,lM a 7 , w 76,817 47.026 47,414 71.2~ 1 47,308 48,930 49,8SO 47,302 48.m A7.290 46,961 de.BLi 47,963 4.880 47,258 a.w0 47,203 48,072 48,875 47,277 46,881 47,27a 46.987 46,090 47,612 4,996 47,282 47.002 47.257 .M,ld9 30,343 30,083 30,347 30,661 S O 3 0 30,362 30,799 3a,Jd8 90.574 311,380 aO,b71 30,3W 30,368 30,667 3D,363 30.686 56.373 30,376 30,926 30,370 30,557 50583 W,6sO 30,307 a a , w 30,5!i!J 30,394 90,547 30,388 30,400 S0,524 30,406 30,m 30,408 30,m 34,412 30.4ia 30,532 2Qu)plD 50.528 30,423 30,426 30,718 30,490 96,521 30,436 30,510 30,430
40.m 46,8J5 76,074 22,362 67.210 74.213 47,119 a,ese 74,479 47,024 66,616 76,168 46,524 06,634 76,219 25,317 46,835 70,710 48.750 48,385 46,335 46.766 46,618 43,778 48.456 a'w 67,163 20,704 &.a03 46,489 48,816 48,510 46,521 40,831 46,542 68.842 4Gt,5Cd l(B.676 67.45 31,7ea a.871 A6619 '%,BE2 98.703 29,983 30.220 29,938 20,235 30,009 30,018 3 o . w 18,118 90,252 30,OaJ 30.259 30,058 30,083 50,270 30,077
30,091 30,095 30,653 20,253 30,295 30.128 30.303 30,144 30.100 30,314 30.163 30,321 30,177 90,185 30,646 22.270 30,341 30,216 30.50Q 30,230 30,237 M,SUO 90,252 30,388 30.zao 30,216 30,676 24,309 36,3aA S0,307 36.398 30.323
30.277
13,WG 13.E15 13,664 1 3 , W 13.S10 13,175 12.936 12,790 12.W 12.410 12,202 12,ldB 1 f.OP6 11,769 11,62f 11,366 11.216 11,085 10,WQ 10,706 10,585 10,423 10,279 10,138 9,181 0,BdB 0,701 8,551 9,406 8,257 9,100 0.9GO
E.0R2 0,511 8,300 8.207 8,053 7.809 7.746 7.592 7.A37 7,201 7,124
8,906
8,720 0.42G 6.534 8.44 1 6.346 f1,252 6.157 0,082 5,966 5.871 6.775 5,678 5,581 s.m3 5,BB 6 . 2 ~ ~ S,187 5.000 1.989 4.068 4,700 a.w 4,507 4.686 4.33 1,280
4,075 3.970 3.066 3,PW 3.856 3,150 3.444 3,338 a.231 3 124 3,018 2.900 2,800 2,680 2,580 2,470 2.360 2,249
0,eii
m a s
6,811
4,170
32,900 33.060 61.189 33,325 33,800 61.038 Sd.fB5 33.895 Gl,015 24,606 w334 63,022 36,626 34776
35,076 36,810 S9,626 35,901 36,878 35,030 3E,34S 38.137 36,611 3 0 . U 36.600 31,762 3a.816 37.390 37.232 37,705 37,660 97,710 38,109 38.032 30,482 38,367 38,520 39,923 %,061 30"270 39.185 99,601 3 2 , W 22,088 23,324 23,lffl 23315. 23,389 25.462 24.027 23.004 24,000 23.006 24,187 24040 26,183 24,496 2433% 24,698 24.608 24.712 25,300 2A,R2J 25,207 25.136 25,114 26.353 25,480 25.727
26,030
26,007 28.640 2G,230 26.476 26.654 20,093 z a m 2(1,793 27.022 27,021 27.244 27,252 27,S67 27,774 27.802 27,808 27.057
28.074
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2,060,048 2,832,870 2.70?.360 2,737,736 2.70l.BU 2,666,158 2,630,326 2,693,862 2,557,M4 2,52!,206 2,aaJ.759 2449,159 2,610,397 2.373,ml 2,338.002 2,290.05l 2,261,149 2223,596 2,105,806 2,147,717 2,10B,W3 2,071,203 2,052,046 1,094,377 !,354,824 1.9 16,873 1,976,695
l.T87,911 1,165,253 1,742,265
1,696,767 1.011,?.42 1,MB,668 1.825.370 1,601.3S1 1,577.807 1.553,C6tl 1,528,780 4sl4,s03 i ,481.AQS 1,457,300 1,432,806 l.d00,@6 1.31)3,710 1,359,102 1,334,389 1,309,029 1.204,098 1,258,592 1,233,754 1,208,340 1.102.007 1,157,527 7,131.800 1,106,122 1,080.1E4 1.064 207
1,001.740 $73.940 9A9,035 922,552 896,888 069,210 842,417 815,385 768.374 761,'130 733,878 700,510 ~70,738 861.135 623,321 695.490 567,453
2,932.aa
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Exhibit A
0 0 0
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-14.809 0 0 0 0 0 0 0 0 0 0 0
-11,913 0 0 0 0 0 0 0 0 0 0 0
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-7,979 0 0 0 0
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a
Page 12
0 1 / 1 1 / 2 0 1 1 16 02 F A X 2 7 0 4 4 2 f i 0 0 0 0 EN T 0 t i 4 K E IJ L E R @ 0 12 /O87
08/31/2023 WKi012023
11/30/2023 12/31/2023 01 13 112024 OZ2812024 03/31/2024 06/30/2024 05/31/2024 051301202~ 07/31/2024 09/31/202a
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11/30/2026 12131/2026 0 7/31/2027 02/25/2027
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1013112027 11/30/2027 12/31/2027 01 1311202a 02128/2028 0313112029
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07/31/2028 08/31/2028 08130/2028 1013 112028 11/30/2028 1213 112028 01/31/2029 02/25/2029 03/3 112028 04110/2028 05/31/2029 08/30/2029
08/31/2029 091301202Q 10/3 112020
1213 112028 01/31/2030 02/28/2030 03/3112030 M130/2030
10/31/202e
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080 WOJD 07/31/2030
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158 159 180 161 182 163 104 166 150 187
168 170 171 172 173 174 176 176 177 178 V7D 150 I 0 1 182
lB4 186 186 187 1 88 189 IQO 181 1 Q2 193 led 196
197 198 100 200 201
203 204 205 208 20 7 208 ZW 21 a 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 23 1 232 233 234 235 236 23 7 233 238 2.20 241 262 263 244 a5 246 247 248 2d9
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183
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516,234 905,403 490.590 477,654 684,731 041,753 438,686 425.507 412,354 309,109 S85,?91 372,478 369,100 343,632 332.Wl
904,063 291,308 277,472 263,099 2d0.831 235,940 229,868 207.808 193,880 170.726 165.537 1 51 ,268 138.858 122,586 108.105 93,012 moo5 84,629 WR,743 36,002 20,108 5,331
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
3ie,sm
23,149 12,030 12,014 12,RSE 12,923 12.078 13,W 15,058 13.203 13,201 A3.912 13,513 13,370 13,476
13,u)Y 13,609 13!65Y 11,834 13,773 13,888
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14.008 14,OCR 14,155 14,188 14,271 14,309
14,4Jll 14,493 1 4 S 7 14,016 14,887 14,7Q4 14303
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ra,sm
io,oe8
2,247 2,19 2,085 2,044 1,990 1.836 1,882 4.827 1,773 1,718 1,883 1.W V 6 2 1,486 1,w 1,364 1,327 1,27f 1,214 1 . f S 1,099 1.041
BSJ 926 e66 90s 749 800 SUI 57 I S l 1 am 330 320 288 207 1 4 54 22 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
25.382
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$4,913 44,314 15,039 tn,9r7 14,978 14,919 1A974 14,021 14,922 14,872 14,914 14.971 14,921 16,827 15,048 14,929 14QG7 16,932 14065 14,934 14,935 14,603 14,937 14,981 14,940 1P,9dl 1491)2 14,943 14.857 14,946 ra,ssd 14948
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0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
a
25,282
14009 14,878
i 4,oeo i4,eie i4om 14,847 10,994 14,000 i4,a)s 14,69S 14,042 l i W 14.889 14,853 14,803 iqRe1 14,865 14,989 12.325 14,913 14,081
14,889 14,883 14,923 14,901 14.827 14,909 14913
1 4 , w
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0 0 0 0
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-12.135
a
2,137 2,043 i,nes 1,9M 1,893 1,w 1,790 1,738 i.oee 1,634 1,68 ? 1.529 1,478 1.423 1,370 7.316 1.262 1,200 1,lY 1,100 1,045 990 835 MLIO 524 7uI 712 658 599 s43 a06 428 371 31 3 255 107 130 80 21
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
23,145
12,914 12,836 12,923 12,978 13,167 13,009 13,203 13,201 13.312
13,370 13.476 13,484 <3,607 13,599 f3.667
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0 .
516.234 503,403 480,6sO 677.634 464,731 451.763 48.596 m , w 7 412,304 940.103 385,191 372.4ie ~ S R , I O ~ 346,852 332,148 118.562 SO4,$G3 291.308 277,472 263,699 2A0.831 235,940 221.858 207.048 193.880 17e,72~ 165,537 151,268 '138,868 122%,58E 108,106 9S,G12 79,046 04,629 49,743 36.002 20,199
6.531 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 9
a
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a
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Exhibit A
Page 13
r 1 1 / 7 1 / 2 0 1 1 16 02 F A X 2 7 0 4 4 2 f i 0 0 0
04/30/2031 250 05~31/2031 251 06/30/2031 262 07/31/2031 293
OB/30/20Al 25.5 10/31/2031 298 11/30/2031 257
01/31/2032 250 02128/2032 260 03/31/2032 261 04/30/2032 282 05/31/2032 263 08/30/2032 204 07/31/2032 285 08/31/2032 288
10/3112032 288 11/30/2032 269 1213V2032 Z7O Ol/31/2~33 271 02t28/2033 272 03/31/2033 273 04/3012033 274 05/31/2033 275
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0713 112037 325 08/31/2037 326 08/30/2037 327 10/31/2037 328 11130/2037 320 12/31/2437 330 0113112038 331 OZ28QO38 332 03/31/203h 333 04/30/2035 336
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05ai/2am 339 oe/30/2038 338
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0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
a
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0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 e 0 0 0 0 0 0 0 0 0 0 0 9) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 a 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 e 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6 0 0 0 0 0 0 0 0 Q 0 0 0 0 0 0 0
0 n
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 Q 0 0 0 0 0 0 0
-0,759 0 0 0 0 0 0 0 0 0 0 0
-7.260 0 0 0 0 0 0 0 0 0 0 0
4,747 0 0 0 0 0 0 0 0 0 0 0
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0 0 0 0 0 0 0 0 0 0 0
474 0 0 0 0
0 0 0 0 D 0 0 0 0 O 0 0 0 0 0
-1,028
a
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 a 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 U 0 0
a
D 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 D 0 0 0 0
0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
a
a
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O n
@I 0 1 2 / 0 3 I
0 0 0 0 0 0 0 0 0 0 0
4.750 0 0 0 0 0 0 0 0 0 0 0
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01.626 0 0 0 0 0 0 0 0 0 0 0
4 7 6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 a 0 0
Exhibit A
Page 14
0 1 / 1 1 / 2 0 1 1 16 0 2 FAX 2 7 0 4 4 2 f i 0 0 0
12/31/2038 342 0113112038 343 02/29/2098 364 03/31/2039 345 04rJOM039 346 05/31/2039 367 06/30/2038 M e 07/31/203Q 3A9 08/31/2038 350 09/30/203Q 351 10/31/2039 352 1 lB0~2030 353 12/31/2038 3% OlI331/2040 355 02rZB/ZMO 356 03/31/2@40 357 04/30/2040 350 05/31/2040 330
07/31/2OAO 361
09/30/ZWO 363 10/31/2MO 364 11B012rPO 305 1831/2060 38A 01/31/2041 367 022a/20d1 366 03/31/2011 369 Od/30/2041 370 05/31/2041 371 06/30/2041 372 07/31/2011 373 08/31/2041 376 08/30/2041 375
11/30/2m1 377 1261/2041 378 01/31/2OA2 379 02/28/2042 3&0 03/31/2oaZ Mar 06/30/2042 362 05/31/20~2 333 06/30/2042 384 070112042 335 08131QOA2 386
10/31/2042 308 11/30/2042 389 12/31/2042 390 0113112043 391 02/28/2063 392 03/31/2643 36'3 O4/30/20A3 394 05/31/2043 305 06/30/20&3 390 07131~2043 387
09/30/2043 389 10/31/2043 4 0 0 11/3012043 A01 12/31/2043 402 01/31/2fW 103 02/29/2MA AM 03/31/2044 409 M13012M4 408 05131120AA 607
07/31/2064 a09
09/30/204A d l 1 10/3112044 412 11/30/2W A13 1213112044 414 01/31/2015 415 02(28/20A5 616 0313112a45 4 l 7 (M13012045 d18
08/30/2045 420 07/31/2fla5 A21 08/31/2045 422 00/30/2od5 423 10/31/2045 424 11/30/2015 A25 1U31G!odS Ai6
oa/30/2040 380
08/31/2040 382
i o ~ i / 2 w i 378
OQBO/QOG 387
oe/3i/za43 395
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05/31/20A5 419
01/31/2016 427 oma/204e 428 03/31/2040 A29 OU30/2066 630 0R/31/204% 811
Sum
a 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 €I 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 '0 0 0 Q 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8 Q 0 0 0 0 0 0 0 0 0 0 0 0 0 0
5.921,759
D E N T 0 N8 G E IJ L Et?
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 B 0 0 0 ll 0 0 0 0 0
2,064.759 7,986,312
0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 I3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
a
a
7 .a7 .7ee
0 . o
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
1,9C4,083
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
5,921,753
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 1 4 / 0 3 7
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
398.077 ,_-. . .- -.. . Exhibit A
Page 15
0 1 / 1 1 / 2 0 1 1 1 6 0 2 F A X 2 7 0 4 4 2 f i 0 0 0 D E l l T O N ?A I! E U L E R
TAB 3
Page 16
0 E N T 0 ti& I! E IJ L E R @
01
6/0
37
Page 17
01
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11
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02
FA
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270442fi000 0 E I4 T ON & K E IJ L E R
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7
Exhibit A
Page 18
DE H T ON8 k: E 1) LE
R
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_
.- t> E
'E,
Y hf E E
3
8 e G u
UI L
L
c.
Page 19
0 1 ~ 1 1 / 2 0 1 1 7 8 03 F A X 2 7 0 4 4 2 8 0 0 0 DENT 0 H & IC E IJ L E R
TAB 4
-. Exhibit A
Page 20
n 1 / 1 1 / 2 0 1 1 I f i 03 FAN 2 7 0 4 4 2 6 0 0 0 D E N T 0 148 K E IJ L E R p 1 0 2 0 / 0 3 7
efinancing Process
A refinancing of secured debt is permitted under the RUS Mortgage. Included below is an excerpt from the RUS Mortgage providing for such refinancing. CoBank can provide electronic copies o f all CoBank documents.
The specific steps for refinancing RUS notes are: 1.
2. 3.
4.
5.
6 ,
7.
8. 9.
Provide CoBank with your RUS form 613 (Quarterly RUS Statement of Loan Account) in order to analyze notes beneficial to refinance. CoBank completes due diligence and provides loan commitment. Provide notice to RUS of prepayment, designating nates to be prepaid and request for payoff memorandum. This notice must be at least four business days before the desired pay off date.
RUS Payoff Information: Direct Loan and Grant Branch (DLGB) o Telephone: 3 14-457-4049 or 3 14-457-4083 o Fax: 3 14-457-4283 or 3 14-457 -4284 o Ernail: c42~b~stl.rural.usda.~ov -
0 Cash Transmittal Questions: Cash Management Branch (CMB) o Telephone: 3 14-457-4021
Obtain and forward to CoBank, RUS prepared spreadsheet setting forth principal and interest to be paid off. Apply and obtain any required regulatory approval as defined by applicable state. Provide borrowing resolution and return all executed loan documents to CoBank. Borrower notifies CoBank as to whether prior period amounts due will be delivered to CaBank or if it will. be drawn from borrower’s CoBank line of credit for final settlement of RUS notes. Principal balance and interest wired by CoBank to RUS paying off notes. Supplemental mortgages filing complete and opinion of counsel delivered to CoBank.
Excerpt from Article U of the RUS Mortgagc SECTION 2.02. Refunding or Refinancing Notes: The Mongagor shall also have the right without the consent of any Mortgagee or any Noteholder to issue Additional Notes for the purpose of refunding or refinancing any Notes so long a5 the tatal amount of outstanding indebtedness evidenced by such Additional Note at Notes i s not greater than 105% of the then outstanding principal balance of the Note or Notes being rcfunded or rdrnanced. PROVIDED, HOWEVER, that the Mortgagor may not exercise its r ights under this Section if an Event of Default has occurred and is continuing, or any event which with ehc giving of noticc or lapsc of tirnc or both would bccomu an Evcnt ofDcfault has occurred and is continuing. On or before the first advance of gmcceds from Notes issued under this section, the Morigagor shall notify each Mortgagee of rhe refhding or refinancing. Additional Notes issued pursuant to this Section [LO23 will thereupon be secured equally and ratably with the Notes.
Exhibit A
Page 21
1 / 1 1 / 2 0 1 I I6 0 3 F A X 270442600!, D E N T 0118 G E IJL E R @J021/037
RUS Refinancing Term Loan $3,344,239.29
(Final Adjusted Loan Amount) CoBank Loan Number- RX0731T8
May 28,2010
Table of Contents
Executive Summary
1. Existing RUS Loan Profile & Summary Analysis
2, Side by Side Comparison of RUS Notes GoBank Loan
3. CoBank Patronage and Effective Cost of Borrowing - RUS Notes
4. clllosin Procedures
_- Exhibit A
Page 22
0 1 / 1 1 / 2 0 1 1 76 03 FAX 2 7 0 4 4 2 6 0 0 0 O 2 2 / 0 3 7
Executive Summary
Jackson Purchase Energy C o p (Jackson Purchase) currently holds approximately $3,3 million in RUS debt at an interest rate of 5%, which would qualify for CoBank refinancing at a life time fixed rate currently of 4.9096, At such a rate, CoBank’s patronage refimds would result in an effective rate of approximately 4.15%, an effective savings of 75 basis points. The total projected savings amounts to $367,541 with a present value of $215,394. CoBank requests Jackson Purchase’s consideration as lender for these loans. Such refinancing of mortgage debt is permitted by RUS under Article IT, Section 2.02 of the Mortgage.
We have enclosed for your review a profile of existing eligible notes including a comparison of savings opportunity (Tab l), a side by side comparison of the RUS loans’ interest cost versus CoBank’s loan interest cost and patronage payments (Tab 2), an analysis of CoBank’s Patronage Rehnds, Capital Plan and Effective Cost of Borrowing (Tab 3) and a summary of anticipated closing procedures (Tab 4) - We propose to consolidate the two RUS notes into a single note with a principal repayment schedule matching the consolidated scheduled principal payments of all of the RUS refinanced notes (18.52 years). This would decrease Jackson Purchase’s administration while, at the same time, not increase principal debt service.
CoBank is pleased to have this opportunity to present this information as part of its effort to find innovative ways for Jackson Purchase to enhance its success. This booklet is not a commitment to lend or an offer to make a loan. A commitment shall be in the form of a loan agreement upon receipt of an acceptable application, resolution, and other documentation as required by CoBank. Thank you for your consideration.
Exhibit A
Page 23
0'1 jll j2011 I E 03 F A X 2 7 0 4 4 2 f i 0 0 0 0 E H T 0 t l & K E IJ L E I?
TAB 1
- - . - "
xhibit A
Page 24
0 1 / 1 1 / 2 0 1 1 I f i 0 3 F A X 2 7 0 4 4 2 1 3 0 0 0 0 E t i T 0 tI& K E IJ L E R @J 0 2 4 / O 8 7
RUS notes proposed for refinancing:
Note Principal Flnal Payment Years ID Balance Pes RUS Date Remaining Weighted Average Life
1B300 1,672,126.11 1213 1/202 8 18.52 10.63 lB305 1,672,126.11 12/31/202a 18.52 10.63
Totals 3,344,252.22 18.52 10.63
CoBank originally estimated bar the total loan balance for thc loans listed above was in the amount of $3,344,255.04 reflecting an overage in the fml loan amount of $2.82 when compared to the final RUS payoff amount. The overage was due IO rounding differences between CoBonk's modeling software and RUS' loan records. In order to correct this overage amount of $2.82 along with thc $1 2.93 overage that occurred in Jackson Purchase's $5,921,739.94 (note number RX073 1r7), CoBank reduced this loan by $15.75 from $3,344,255.04 to a final loan amount of $3,344, 239.29. CoBank and Jackson Purchase agreed to reduce this loan by $15.75 since it has the higher interest rate and is of a longer tenor (1S.52 years versus 16.35 years).
Interest Savings (over life of notes):
Total Interest Total Interest RUS (ri! 5.00% CoBmk @ 4.90%
$1,78 1,74 1 $1,770,623
CoBank Cash Patronnge Refund:
CoBank Stock Patronage Refund:
Total Life T h e Benefit::
Present Value of Benefit (discounted @? 4,90%)
Total Savinw
$11,118
$23 1,675
$1 2474 8
8i.xi.m
$ m a
There are no prepayment penalties arising from prepayment of RUS debt. CoBank would document this transaction using outside counsel to be paid by Jackson Purcliase.
" .--
Exhibit A
Page 25
i ~ 1 ~ 1 1 / 2 0 1 1 1 6 03 FAX 2 7 0 4 4 2 6 0 0 0 0 E t i T 0 t l & K EIJ L ER @ 0 2 5 / 0 3 7
TAB 2
c -- Exhibit A
Page 26
O l / l 1 / 2 0 11 1 8 0 3 F A X 2 7 0 4 4 2 8 0 0 0
2010 201 1 2012 2013 2014 2015 2016 2017 2010 2019 2020 2021 2022 2023 2024 2025 2026 2027 2020 2029 2030 2031 2032 2033 2034 2035 2030 2037 2058 2039
2041 2042 2043 2044 2046
Sum
2040
Prlnclpd Rslanoo
€3,2M,DBS S3.172,SQP s3,oM).ouo 32.922,14!4 52,707,032 $2,646,003 S2dOa.084 f1,33D,140 b2,174,227 $2,000.&68 $1,010,070 l1,627,317 wSa26,e5s s1.2142s1
W91,DcB 6768,101 s12.288 5153.850
M) $0 50 sa $0 so $0 $0 sa m so fa $0 sa 50 50 so 80
Jackson Purchase Energy Annual Summary
Scenario Matching RUS Principal Repayment
Loan Amount CoBank Loan Interest Rate
Llfetlrne Cash Flow Savings
Llfetlme ColEPank Patronage
Lifetime Interest Savings Llfetlrne NPW Benefit
Canblnsd RUS Lo(m8
Annual Pdnclprl Paymanl
s55,344 $116,353 S121*864 $12a,w S135,118 s i 4 2 . 0 ~ ~ $1PB,O19 6116,914 81Ba,942 5173,381 51 01 ,%GO 8191,Wl 9201,382 3211,884 $222,322 S233.868 3246.a3 52Y),blD
so SO so so so $0 20 W so so 50 sa so Eo 60 M 80
s213.a~~
Annunl In(aros( Psymsnt
983,034 Sllll,TL)!J 8466,861 Si 49.509 8163,023 8136,l I 1 tl28.081 (121,227 si is,ma $101.702
595,904 Wb,W $70,784 880,463 555,GtZ 3544.282 SS2.330 519,74
66,528 &l $0 w MI m u1 8 w 80 sa lo sm 80 so KQ so $0
Total Ann Cash Flow
5138,379 S278,137 S277,705 S276,139
027B.IaO m e , i ~ g
s2n.700 sna.142 $270.163 S27O.lap 5277,072 S278.146 U70,146 $278,148 SZT1,985 SZT8,lM) S278.181 s n 0 , 1 u 5280.a82
50 SO so so so $0 $0 $0 50 so Eo go bo $0 50 80 w
Annual Cash Flow Dltlerenclnl
5286 S11.017 $P,O2t 521,215 S20,300 sre,a61 518,518 517,525 01 8.dB 1 515,303 114229 513.01Q $11,7M $10,404 88,939 57.617 $5,960 $4,324
&<fi,Bl4 518,370 516,759 515,343 $13.860 $12,202 $lO,t3A
$7.081 55,167 S3, lM 51,041
60 tro $0 so 20 so
~8,904
ToUl Ann Cash
Flow
s i s . i i a s20C,211 $255,879 1258.Q23 5267.780 S250,G7R S289,ZM 5280.01@ s2ai.ao2 S2G2,7Gl 5263,663 szes,izo UGt,dO3 5267,744 b2@8,9@9 $270,653 S272,lRI $273,829 52M,760 .210.370 *S16,759 -s13,w -513.050 $12,202 .510,63d 40,004 47,001 45,167 5 3 , l E4 .S1,041
Eo so w rn tro Io
5387.541 SP.768.MO
$3,344,239 4.90%
$367,541
$350,423
$11,110
$215,394
Annunl Inlorout Paymont
$62,7GB 5lW,731 6164,L166 IlA8.W s142,110 S135,242 .5128,038 5120.453 S112,477 5104,093
$86.202 $86,031 578,294 588.069 666,307 s43,930 532,112 519,@1@ w a s
Lo Y)
so so $0 LO so $0 KJI so SO 50 so so 50 $0 bo
Coeanlc Loan
Annual Prlnclpsl Prlnclpsl Payment Balsnce
S S S , W 53,288,096 5118,363 W.172,542 $121,864 83.050,668 5128,W 52,922,149 11311,118 52,787,032 $142,029 22,846,003 SIde,BlB $2,4QC,O@4 $156,914 52,359,140 S101,942 52,174.227 t373.381 $2,000.648 5101,960 S1,010,078 Sl$1,561 51,627.3V SZOl.S82 51,426,066 $21 1.064 S1.214.29+ 3222,322 SRR1,BCO m 3 , m o ~ 1 ~ 8 , 1 0 1 124543a3 stj12.2m $268,410 82253.858 5253,850 $0
so 64 50 %I 80 80 so 90 so Y)
so so so 50 so so fa $0 so 8 so 50 W bo so $0 so sa $0 Lo 60 $0 to a0
l1,770,623 S3,344,239
Plrtronnae Rofund
SO 410,003 521,030 -1s20,zeo 610.446 blO.SD1 417,692 *L1B,761 416.757 514,714 -613,617 -siz.ae -$1l8257
59,979 . w , w 67,236 -15,753 s d , l B ( t
-515,572 418.370 -518,758 415,343 413,890 412,2112 -$IO,t34 -W,rnA -$7.00 I -95,167 43.146 -51,OAl
$0 fD W Eo 80 50
6368.423
. I- . I. . .I _-
Page 27
~ 1 / 1 1 / 2 0 1 1 1 6 0 3 F A X 2 7 0 4 4 2 6 0 0 0 DE El T O N 4 I( E IJ L E R
08/30/2010 07/31/2010 08/31/2010 03/M/2010 10/3112010 1 1 /30/20 10 12131/201D 01/31/2011 02/28/2011 03/31/2011 OdiW012011 05/31/201 1 08/30/2011 07/31/2011 0813 1/20 11 00i3012011 1013 1/2011 lli3012011 1Z3 1/20 1 1 01/31/2012 0212w2012 03/31/2012 OA/30/2012 05/31/2012 08/30/20 12 07/31/2012 08/31/2012 09/30/20 12 10/31/2012 11130/2012 12/31/20 12 01/31/2013 02/28/20 13 03/3 1/20 13 04/30/2013 05/31/2013 08/90/2013 07/31/20 13 08/31/2013 08/30/2013 10/31/2013 11/W/2013 12/31/2013 01/31/2014 02128~20 14 03/3 11201 A Od130/2014 0513 1\20 l d
0713112014
09/30/20W
oa130/2014
oe/31/201d
10/31/2014 11/30/201d 1213112014
02128/2015
04/90/2015 0 5 0 1/20 1 s 07/31/2015
08/30/2016
1 lKiO12015
ainv20 16
03~ i /2015
0 ~ ~ ~ 0 ~ 2 0 1 5
08/3inni5
10/31/2015
Payment Number
0 1 2 3 4 4 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 16 27 28 2a SO 31 32 33 34 3s 28 37 30 39 40 A 1 62 43 A4 45 46 A7 48 49 so 61 92 53 54 66 56 67 56 $9 ao a i 02 63 s4 85
Scenario - Matching RUS Principal Repayment
EXISTING RUS LOANS
Bnglnnlng Loan Balance L 3 Flnol Puyment Dote Romelnlng Monthly Pmlr lnfffal RU9 MoMhW Fm! Roll Forward D a h
8,364,239.29 12131128
222 %22,909.01 08154120 10
CoBANK REFINANCING LOAN
Boglnnlng Loan Eslnnca Final Paymso! Ddta Rmolnlnp Monihly Pmk CoEANK Intarerr Rate LRsltl COBtB
S 3,3&4,239.2¶ 12131128
221 4 90%
to
Libtime Inlarout %1.761,701 Llbilrno lntorort 53,770,823 Present Value of RUS Cush Flow Prosant Waluo of CoBOnk Cash Flow
NPV 81nlllt of R d l
Prlmlpt Batsme
53,364238 3,335,284 3,326.2YI 3,316,743
3,2W,066 3,288,896 3,rrB,t&( 3,269,087 3,269.792 3,250,012 3,248,838
3,221 3 1 S 3.21 1.822 3,201 ,EM 3,182,264 3,1111,208 3,172,512
3,152,225 b142,434 3.132171 3,122,aSJ 3.1 11,060 3,101.886 3,031,983 s,oe~,693 &071,422 3,080,867 3,060,680 3,040,686 3.02e.a6i 3,016,637 3,007,886 2,997,401 2,Boo,oos 2,916,108 2.886.670 2,95d,Y)o 2,9u,9w 2,832.871 2,822,1~~ 2,911,381 2.888.370 2,BBO,bao 2,877,199 2,800.2.gI a , a ~ , w 3 2,W3,762 2,832,6(18 2.1421.1 &Z 2,809,855 2.Y98,XZE
2.776.8W &YG3,160 2,761.717
2,728,500 2,748,34$ 2,7i)4,700 2,893,ooe 2680,888 4,800,106 2.t166.898
3.~07,ew
3,2m,m
a.in2.m
%.7a7,032
2,7se,8441
Comblned RUS Loans
Prlmlpal PByllWlt
88,976 A,O14 9,808 8.082 @,W 9,172 8,241
40,597 9,296 8,761 9,378 8,868 9,457 8,407 9,976 0,sBo
10,058 e,w 9,roa
10,611 0,701
10.283 9,876
10,348 0.902
10,004 10,470 10.OR1 10,555 10.m 10,221 11,616 f0,314 10,772
10,858 10,484 10,638 10,990 10.830 Z 1.078 10,722 10,lW 12.010
ll,300 10,868 19,398 14.064 q1,101 11.m 11,191 lq.629 1 1,294 91.342 12,534 11.443 9 1,BBB 1q,w ? 1 m I S 11,842 11,694 12,110 11,762 92.208
io,&oa
10,ees
lntemst Peyrnem
933,096 13.897 13,069 13,020 13,782 33,742 13,704 i a , ~ 13,821 13,582 13.542 13,u)3 13,402 1 9 , m
43,341 W l O 1 19,259 13,210 13,176 13,154 13,093 13,051 13,010 12,886 12,925 12,683 l 2 , W
12,756 12,711 l2,GGB 12,821 12.678 12.Y33 12,688 12M4 12.MO 12,357 12,3Y 1 12,266 12,220 12,178 12,131 12,081 12,036 I 1,800 1t.94 4 1,806 11.049 i i ,ao l 11.7S6 11.70~ 11.660 71,813 11,546 11,519 41,m 11,818 1 i ,568 11,318 11,270 I 1,221 11,170 11,121
i3 .3a
i z , m
Total Caah F l w
92a810 22.81 1 23,387 22,912 23.388 22814 22,gld 21,283
23,363 22,817 23,3G2 22.919
23,;380 21,921 23,349 21,923 22,824 23,701 22,826 a3,= 22,927 23,366 ana 22,9t9 23,JM 22931 23,362 22,432
to,l&Q 22,936 23.369 22,937 23,368 22,1134 22,830 23,346 22,861 23,345 22,943 22,BM 24,141 22,943 21,342 12,817 23,341 22.848 22,950 25,339 22.962 23,337 22,953 22,854 24,098 22,856 23,334 22,868 23,133
22,901 23,331 P.9E3 23.329
z.eia
z m o
z,gay
z,eeo
Total Qah Flow
$23,006 21,822 23,270 22,824 23,278 22,826 22,827 26.t76 11.845 23,276 22.1131 23.276 21,833 22,112d 29,276 12,1124 29.271 22,838 22.038 23,701
i . a i i 23,273 22,843 25.272 22.066 22,847 29.271 22,849 23.271 22,ESl 22,862 24,103 2,696
23,2tA 22,867 23.260 22.860 22,860 23,287 22,882 23,207 22,865 22,880 14,063 3,422 23.286 12,871 23,264 22.873 22'8 74 23,263 22,877 23,263 22.879 22,000 24,022 6,292
23,281 22.085 23.260 22.088 22,00R 23,259 22,081 23,238
lnmrast PuyrnenI
L14,i 11 13.000 13,771 13,731 13,634 1333% 13,818 13.578 13,534 13,AgS 13,655 13,418 13.376 13,336 13.287 13,2!33 13,216 13,174 13,134 13,094 13,OsO 13,010 12,987 12,026 12,054 12,842 12,001 12,luI 12,716 12,672 12,830 12,380 12.640 12,497 12,663 12,410 12,305 12,321 12,278 12,232
12,142 12.080 12,053 12.004 11.958 11,912 11.666 11,819 11,773 11,127 11,860 11,633 11 .SO5 11.538 11.691 1 1 , w 11,392 31,343 11,296 11,246 11.198 11,149 11.099 11,050
12,1e8
CoBunk Loan
PrinciDal Peyrnenl
SO76 9.011
8,092 S t y 1 4
8,211 10,597 9,295 9,781 0,376 9.869 9,457 9,497 B,B70 9,680
10,058 B.ooa 9,705
10,812 9,791
10,263 0,878
10,34G 9,982
10,004 10,470 10,091 10.555 10,179 10.222 11,¶13 10.3i4 10,772 10,4004 10,819 10.494 10,439 10,BBo 10,G30 11,079 10.722 10,7tI) 12,010 10.885 11,306 10,959
11,054 11.101 11.936 11.107 11,829 11,284 11.342 12,531 1 1 , w 11.868 11.542 11,885 l1,W 11,891 12,110 11,792 (2,208
9 . m
9.172
i 1,388
@I 0 2 7 / 0 3 7
$3,344,239 S,335,2G4 3,326,280 3.S10.74-3 3,3n7,c5a 3,298,088 S,200,89J 5,279,884 3.289.087
3.250,012 3,260,836 3.250,?77 3,224,319 3.21 i .a22 9,201.w a . ie2 .2~ 3,182,208 3,112,W 3,182,BM S, 152,225 3,142.W 3,132.171 3.122,295 3,111,950 3,101,988
a.26e.702
3.0ei,nc3 3 , o e i m
~,ow,a87 3,071.622
3.060.688 3,040,&6 3,028,851 3,018,637 3.007.806 &987,481 2,988,803 2,916,100 2.986.670 2,056,580 2,943.950 2,8s2.a7i 2,922,149 2,911,381 2,880.370
2,877,199 2,aee,u)c
z,~ae,21i 2 , 1 3 5 4 , ~ 2.848.188 2.8 3 2,6 8 11 2,821,162 2,009,695 2.788.326 2,787,032
2,763.760 2,761,797 2,739,660 2,728,300 2,716,341 2,704700 2,883,008 2,600,898 2,669,108 2.065,080
z.ns.6e1
$0 0 0 0 0 0 0 0
-10,603 0 0 0 0 0 0 0 0 0 0 0
ai ,oao 0 0 0 0 0 0 0 0 0 0 0
-20&2(10 0 0 0 0 0 0 0 0 0 0 0
-19,440 0 0 0 0 0 0 0 0 0 0 0
0 Cl 0 0 0 0 0 0
-1a.501
Exhibit A
Page 28
1.1 I / I I / L U I I I t i 0 4 P A X Z f O 4 4 2 t i O O O D E N T O N I! E IJ L E R
1213 1/2015 01/31/20 1 e 0212e/20 i 6 03a llZOl8 O4/30/20 16 05/31/2016 OW3012016 07/31/2016 08131 12010 09/30/2016 1 0/31/201 e 11/30/2016 1213 11201 8 01/31/2017 02/20/2017 03/3 11201 7 0&30/2017 05/81/20 17 06/30/2017 07/31/20 17 08/31/20 17 08/30/201 I 1 OB 1/20 1 7 11/30/2017 1213 1/2017 01/31/2018 02/28/2018 03/31/2018 omo/:oie
o 7/31 120 1 a
06/3112018 06/30/2018
08/31/2018 08/30/2018 1013 1/20 1 8 11/30/2018 12(31/2018 01/31/2018 021281201 R 03/31/20 19 W30/2019 0 9 3 11201 9 oe/30/201 e 07/31/2019 0813 11201 9 00/30/20 19 10/31/20 19 11/30/2018 12/31/2019 0 1/31/2020 0220n020 03r31/2020 00/30/2020 05/31/2020 08/30/2020 07/31/2020 OBi3 1R020 00/30/2020 10/3 112020 11/30/2020 12/3 1 i2020 01/31/2021 02/28/2021 03/31 12021 M/30/2021 05/31/2021 08130/2021 0 7/31 1202 1 08/31/2021 09/30/2021 10/31/202 f 1/3012021 1V3112021
0212812022 03/31/2022 0dl3012022 05/31/2022 08/30/2022 07/31/2022 08/31'2022 Obl3012022 1013112022 9 1/30/2022 1 2 n 1,2022 01/31/2023 02128/2023 05/31\2023 043012023 05/31/2029 08/30/2023 07/31/2023
0 1/31/2022
66 e7 68 89 10 71 72 73 74 76 76 77 78 70 80 81
63 04 85 88 87 88 813 90 91 82 93 94 85 nc 97 08 99 100 101 102 103 104 105
107 108 109 110 111 112 113 114 11s 118 117 110 119 120
122 123 1 24
a2
1 oe
t a l
125 126 127
128 130 131 132 133 134 135 138 139 138 139 140 141 142 163 144 146 146 147 348 149 150 1s1 162 153 154 155 156 157
128
2,546,003 2,033,QSP 2,620,342 2,608,202 2,686,834 2,S03,680 2,171,121 2,558,863 ZW,@42 2,533,840 2.521,0?3 2,608,800 2.496,0!U 2,483,507 2,489,868 2,657,167 2 . w , o 8 e 2,431.280 2,416.106 2806.198 2,392,233 2,370.887
2,362,957
2,326.928 2,311,670 2,288,310 22&4,578 2,271,103 2.267,268 2,243,668 2,236,018 2,218,008 2,202,239 2,188,112 2,174,227 2,160,283 2,105,392 2,131,328
2,402,720 2,088,184 2,073,876 2,059,505 2,044.791 2,030,2U 2~015.464 2.ow.w
1,970,679 1,858,072
2 , w e i z
2,3a~.i70
2,116,oon
i ,eac , i~ t
i,910,9a3 1.926,m~
1,09s,e73 1,810.736
1,000,5416 l.BB6.0BE i ,M9,Ml 1,834,288 1,616,870 1,803,425 1,787.195 4,771,578
1,7S.900 1,723,#33 1,708,077 1.C92.153 1,675,030 i,em8,e7o l,ti4&519 1,w.a17 1.6P1,OSB 1,994093 1 , 5 7 7 ~ ~ ~ 5 1,680,061 1,%43 1,327,973 1,690,889 l,AQ4,122 1,a77,OB6 1,&30,40Q f ,M3, 064 8.426.966 2,008,833 1,381.080 4,373,7618 1.3M.28 1,338,841 1,321,166 1,305,688
i .766,e~i
11,888 11,W.S 12.717 12,050 12.A58 12,154 12,668 11,259 12.31 1 izna 12447 12.e16 i a , ~ 12,677 19,051 12,689 13,076 1 2 , m
12,800 12,983 1 s . w 13,075 13,GS 43.188 13.238 14,293 13,300 13,732 13,478 19,044 (3.W1 13.649 14,013 13,769 1%127 13,805 '(3,944 I4,ORl I4.088 14,410 14,187 14,536 14,3118 14,370 14.713 14,4W 14,833
lA$W
14,608 15,138 14036 15,262 16,083
16.4a9 15,257 16,676 1S,388 16,463 18.280 15,111 16,887 19,721 16.027
15,924 16,223 10,080 $6,356 46.108 16.267 18,995 16,000 18,844 16.540 16,834 ie,ow 16,761 17.037 46,905 '17,1?6 17,049 77,112 17.77s 1?,270 17.631 17,418 17,815 17,5617
n, im
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15,868
11,070 22,985 11,021 22.086 IO.RTI 2 3 . 6 ~ ~ 10,918 22.988 10,868 23,326 40.816 22,970 10,765 23.325 ?0,713 22,972 10,Bra 22,9Y3 i o , w 2 3 . a ~ ~
1o .m 22,977 YO.MO z,~n
10,668 22.975 10,506 23.321
10,348 23,093 10,291 22,880 10,230 23,317 f0.484 21,962 40,330 23.310 10.075 22,904 10,022 22.865
9,912 22,987 9,058 23,312 8.801 Z?,989 17,747 22,890 9,891 23,9(7 9,GZ 22,@@2 9,376 23,308 9,618 zz.w 8,603 23,307 9,4a3 22,997 9 . w 22.988 8,2W 23,304 9,233 23.000 9.176 23,303
8,068 23,003 9,001 23,892 9,838 23,006 8,BBl 23,206 9,820 23,008
8,761 23,010 8,641 23,011 0.501 23,295 0,520 23,014 8,dBO 23,293 0,388 23,016 6,357 23,017 8,278 23.532
8,160 23,289
9,w 23,314
9,117 2a.002
8,781 ~3,297
8,212 23,010
O,OQ 2 3 . 0 ~ 8.028 m e 7 7.901 29,026 7,899 23,028 7,836 2%2W 7,771 23,028
9 , w 23,050 7.678 23.092 7,514 23.974 7,447 23,034 7.982 23,270 7,315 23.037 7.250 23,279 7,103 23,039 7,117 23,041 7,061 23.274 6,903 23,043 6,918 23.272
7.708 a . 2 1 ~
e , m ~J ,W 6,780 za,o.v 8,743 23.710 6,042 23,050 8.674 23,267 6,504 23,052 @,a6 23.285 6,335 23,055 6,286 23,060 6,226 23,202 4159 23.09 8,084 23,200 6,013 23,062 S.Wl 23.063 5,670 23,643
5,724 23,255 5,798 23,oee
6,861 2 3 . 0 ~ 6 . m 23.253 5,503 23,071
22,094 22,895 23.618
9,209 23.256 22,901 23.256 22,903 22,904 23,255 22.867 25.251 22,010 22,911 23,933 6,163
23,262 22.917 23,251 12,819 22,921 23.250 22,821 23.249 22,928 22,928 23,11115 7,173
23,247 22,934 2 3 . W 22,837 22.9111 23.265 32,941 23,264 22,BM 22,345 23.035
23'24 22,962 23,ZAl 22,955 22,950 23,240 22,960 23,239 22,902 22.984 23,510 9,su
23,237 22,970 23.236 2,973 22,876 23,236 22.870 23,233 22,882 22,13 23,7211 10,520 23,231 22.990 23,230 22,993 22,895 23,229
23,228 23,002 23.004 23.668 11.754 23,225 23.011 23,224 23.014 23,016 23,223 23.020 23,222 23,023 23,025 2S.M)G 13,OM 23,219 23,033 23,210 23.036
8,235
22,9ee
11,000
10,901 10.84a 10,rQI 10,747 10,697 10,gag 10.694 10,w 10.690 10,439 10,388 10.33 10,282 10,226 10,173 10,119 io .0~8 10,011 9.960 9,806 0,849 9,785 9.738 @,Go4 9.820 9,570 9,319 Qrn 9,002 9 . M 0,288 9,232 9,174 9,117 9,059 0,001
0.882 8,824 9.7M
8.865 6,506 8,628 8,466 0,406 B , W 8,2M 8,223 8,184 8,090 8,038 7,974 7,911 7,040 7,708 7,722 7.868 7.594 7,530 7.U66 7'399 7,334 7,269 7,204 7.137 1.072 7,0011 6.930 6,872 B,B04 6.737 8,670 6,589
6,462 (1,394 6,324 6.255 0,186 0,115 8,066 S,97d 5,904 5,053 5.159 5.688 5,615 6.689 5,470
10.V60
n,w
a,7os
e.632
11.094 11,945 12,717 12,050 12,458 12,154 12,559 12.250 12,311 12,712 12,AlY
12.524 12,577 13,061 12.608 13,078 12,798 13,103 12,900 12.983 13,344 13.075 13,456
1 3 , M
13,360 13,792 1 &475 1 3 , W
i2,eif i
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ia,zsc
I 3 . m i w a 14,013 19.787 IA.127
13,9M
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14,107 14,6% 14.309 14,370 14.713 14,494
14610 14,600 16,287 14000 f'J.138 14.696 15,282 is.oe3 1!i,127 16.448 15,257 16.675 15,338 16.463 16,260 16,685 15.887 15,721 18,027 15.856 13,924 18.225 lG,OCO 18.368 16.190 16,267 16.988 18,408
1 6 , W 1B.830 16,690 16.7t11 17,037 16,908 17.176 lY,M9 17,122 17,773 1?.270 17,531 17,418 17,675 17,687
m e 5
14,891
14,4ie
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10.094
2.WS,OO3 2,633.069 z,tm,uz a,80e,292 z,sss,w 2.S63.61)O 2,671.121 2,558,063 2,648.662 2,5U,&ru) 2,921.423 2,600,600 2,498,OM 2,463,607 2,469405C 2,457,187 2,4~4.0ne 2.431,2AO 2,418,104 2.405,186 2,392,233 2,378.Ro7 2,365,812 2,952,357 2,339,170 2.325.826 2,31<,670 2,209,310 2,284,570 2,271.103 2,267,269 2,W,688 2,230,010 2,218,0011 2,202,238 2,180,112 2,174.227 2,1c0.203 2.145,3@2 2, 131,328 2,116.808 2,102,720 2,000,180 2,073,1178 2.058,505 2,044,701
2.015,AfjA 2,ox~,29e
ZOOO,E46 i ,98e,w 1.970,079 l,GS6.072 1,9aD.B33
'1,910,738 l,895,G73 1.8ao.Ma 1,069,ORO 1,849,861 1'036,266 1 ,8 18,878 1,803,425 1,787,185 1.771,570 1,755,681 1,759,900 1,723,833
1,925,990
i ~ o e . 0 7 7 1.e92.1~3 1,075,930 1,869,870 l.W,515 1,627,317 1,e1 1,oa 1,5M.O53 1.617.845 1,561),954 I ,b44,aD3 1 ,s27,973 1,610,885 1,490,122 1,677.085 I.480,lOO 1,443,004 1,426.066 1,408,833 1,391,080 1,373,990
1 ,321,168
1,3~.26e 1,334,041
1.303,SRB "-._
Exhibit
0 0 0
-17.682 0 0 Q 0 0 0 0 0 0 0 0
-18,761 0 0 0 0 0 0 0 0 0 0 0
-15,757 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0
-13,017 0 0 0 0 0 0 0 0 0 0 0
-12,AGG 0 0 0 0 0 0 0 0 0 0 0
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4.979 0 0 0 0
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Page 29
08/31/2023 09/30/2023 10/31/2023 11/3012023 12131/2023 0 1 /31/2024 02/29/2024 03/31/2024 04/30/2024 05/31/2024 OG190r2024 07/31/2024 0813 112021 09130f2024 10/3 112024 11/30/2026 12A11202d 01/91/20W 02125l2025 03/31/2025 M/30/2025 0513 112025 08/30/2025 07/31/2023 0813 1/2025 0913012025 10/3 U2U6 11/30/2025 1 z 3 112025 0 1/31/2020
03/31/2026 O.YE.OK2098
08130K2026 O m 112028 0@431/2020
10/31/2026
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05/31/2027 08/30/2027 07/31 12027 0813112027 OQ/10/2027
11ROI2027 1213 1,2027
012912028 03/31/2028
02/2e/202a
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05/31/2029 M130l2028 05/3¶/2029 W301202Q 07/31/2028 OBIS 1 n o a 09~0/202a 10/31/2029 I i 13a/202e
oa2e/2029
13311202% 01/31/2030 02/28/2030 03D 1 /20 30 043012030 0513112030 OOf30/2030 07/3 112030 06/31/2030 00/30/2030 10/3112030 11/30/2030 1213 112030 01 /3 112031 02l2012031 03/39/2031
156 158 100 161 162 103 16d 1 6s 186 167 108 100 170 171 172 173 174 175 178 177 178 178 180 181
183 1Bd 185 1 RB 107 16R 180 1 90 101 192 193 194 1%
197 198 188 200 20 1 202 203 204 209 208 207 208 206 210 211 212 213 214 215 218 217 216 219 229 221 222 223 224 225 22%
220 229 230 23 1 232 233 234 235 230 237 238 238 2 0 241 262 243 244 245 240 247 24 E 246
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1,285,858 1,268,086 1.260,2Y4 1.232,233 l,Zi4.291 l.lw1.270 1,179,Ma 1 ,I b9.VO 1 .141,259 1,122,92(1 1,104,986 1,086,879 1.007.31 3 1,048,322 1.028.788 1 ,0108853
99 1.068 PIJ,OO~ 063,668 934,631 Q16.094 885,803 876,307 eiie,im 037,513 e i i , s n 787,872 7 7 I , 9 7 4 758.101 730,143 717.787 697,W 877.368 657,01 63Q,681 616,101 606,WB 574,831 554,OBl 633.181 512,2UI 491,266 0(18,875 445,702 AZ'&O 406,090 3&6,680 363,Odt 341,410 319,638 287,8 10 275,8H
231,750 208.602 181,215 164,807 142,930 110,738 97,063 74906 51,433
5,014 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Q Q 0 0 0 0 0
253,eso
28,874
a
17,641 17.692 17,792 111,039 ?7,Q68 18,020 1ap2a 18,176 10,411 10,331 10,562
19,566 18.791
18,945 10.064 16,965 19.446 19,120 18.937 18,201 1 9 A N 1 9 . m 78,538 49,7311
i e , w
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18.706
19.879 19,950 20,348 20,129 20.310 20,301 20,477 20,474 20,661 20,730 20,736 20,800 20,913 21,002 21,283 21,101 21,333 21,362 21,608 2 1 , w 21,836 21,774 21,820 21.953 zz,ooa 22,099 22,268 22,287 22,4008 22.677
22,%69 22.786
22,939 23,060
6.414 0 0 0 0 0 0 0 0 0 0 0 Q
0 0 0 0 0 0 0 0
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0 E El TO El8K E IJ L E R
6,CQ 23,073 5,358 n,250 5,294 23,076 6,208 23,248 5,136 23,079 5.OW 23.080 48sd 23,008 4,900 23,003
4.755 23,006 4,679 23,241 4 ,W2 23.009 4624 23,000 63.447 23,238 4,369 23,093 4291 23,236 4,212 23,098 4.133 23,090 4,054 23,439 3,973 23.101 3,ORJ 23,230 3,813 23,104 &723 23.220 3,651 23,107 3,570 23,109 3.488 23,225 3,407 23,112 3,324 2s.m 3.242 13,115 a , m 23.110 3,076 23,421 2.991 2a.120 2,907 23,217 2,822 23.125 2.79% 23,215 2,BSZ 23,126 2.M7 23.120 2,481 23,211 2,396 23,131 2,309 23,200 2,222 23,lW 2,lM 23,158 2,047 23,340 1,988 23,160 1,070 23,203 4,761 23.143
1,602 23,fW
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1.082 23,mo
3,423 2 a . w 1 . 3 ~ a ~ , i ~
1,513 23.148
1,241 23,194 1,149 23,155 1,060 23,167
B6c 23.222
780 23,188 607 23,164 593 23,185 499 211,187 404 Z3,lCB 310 23,lMl 214 23.175 119 23,179 23 5.437
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 a 0 0 0 0 0 U 0 0 0 0 0 0 0 0 Q 0 0 0 0 0 0 0 0 0 0 Q 0 0 0 0 0 0 0 U 0 0 0
a73 23,iw
23,038 23,216 23,042 23,216 23.048 23,048 23.377 l4.412 23,212 23.066 23,111 23,069 23,061 23,210 23,065 23,208 23,069 23,071 23.473 15,841 23.200
23,204 23,OklA 25,086 23,203 23 090 23.201
23,096 29.402 17,347 23,198 23,105 23.197 23.108 23.11 I 23,185 23,116 23,144 23.120 23,122 23,327 18,028 23,191 23.132 23,109 23.138 23.138 23,107
2S.186 23,148 23.160 23,218 7,683
23.103 23,159 23.101 23.184 23,161 29.178 23,172 23,170
5,437 0 0
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-16,758
0 0 Q 0 0 0 0 0 0 0
-15.303
23,080
23,084
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5.397 5,321 6.260 5.176 5,102 5,027 4963 4.870 4,001 4,725 4,649 4.572 4dse 4,418 4341 4.263
4,107 A,028 3.9a 3,068 3,709 3,709 3.025 3.%7 3.a7 3,30S 3,303 3,221 3,139 3,056 2,972
2,804 2.720 2,635 2,661 2,Gt 2,380 2,294 2,267 2,121 2,asd 1 , W 1,868
1,881 1,582 1,903 1,413 1,323 1 'W 1.142 1,051
959 e67 775 682 590 696 402 so0 213 118 11
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
4,185
2.~~11
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17,641 17,892 17.702 10.038 17,944 18,020 18,425 10,17S 10.41 1 10,331 18.602 10.47 18,680 10,701 18,724 10,943 w B a 10,965 19,445 10.120 19,337 19,291 19.496 1 9 , m 19,924 19,736 19.70¶ 19.800 10,873 18,968 20,346 20.128 20,310 zo,aoi 20,477 20.474 20.681 20,730 20,738 20,QOO 30,1113 21,002 21.295 21,101 21,333 21,362 21,608 21,544 21,836 21,776 21.820 21,933 22,000 22,096 22,268 22.207 22,408 22,477 22,582 22,669 22,786 22,072 22,959 23.080
5.414 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
1,206,050 1,260.066 1,250,274 1,222,236 1.21 8,281 1,186,270 4,j77.@45 q.168.870 1, f dl ,250 1,122,828 1,104,366
1,067,313 1,048,622
1,010,863 691'96a 973.004 063,558 336,431 916,094 885.803 87G,yIY 856.862 837.313 017,577 787.872 777,974 768.101 738,143 717,707 687,u;O 677.368
636,yl l
595.568 574,817 65A.081 533,101
491.266 4G9.973 M8.792 427,459 408,098 380.589 383,048 3d1.410 319,636 207,816 275,683 255.090 231,759 2 o e . m 107,21S i w e 0 7 142.330 11 8,730 97,069 74305 91.433 28.674 5,414
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Q 0 0 0 0
i,oe6.~78
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057,050
8ia.io7
512.288
0 0
0 0 0 0
0 0 0 0 0 0 0 0 0 0 0
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-8,783 0 0 0 0 0 0 0 0 0 0 0
4,190 0 0 0 0 0 0 0 0 0 0 0
~16,672 0 0 0 0 0 0 0 0 0 0 0
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Page 30
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OBBO/PO~I
0313 11203 e w30~),203e 05/31/2036 06/30/2038 07/31/2030
08/30/2036 o m i m 3 e
1013 i/203e 11/30/2036 12/31/2036 01/31/2037 ome/2037 0313 11203 7
05/31/2037 06/30/2037 07/31/2037 08/31/2037
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b1/30/2037
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04/30/2038 05(31/2038 08/30/2038 07/31/2038 08/31 19038 00/30/2038 10/31&?038 1 lI30/2n3a
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258 280 26 1 2G2 263 20d 265 266 287 268 28 0 270 nr 272 273 274 276 276 277 278 278 280 29 1 282
2M 285 206 20 7 288 289 290 281 292 293 204 285 290 i s 7
am 300 301 302 303 304 305 308 307 308 308 310 31 1 312 313 314 315 318 317 318 31 0 320 321 322 323 328 329 326 327
328 330 331 332 333 334 335 336 337 336 338 340 341
238
283
2e B
328
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6 0 B 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Q I¶ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (I 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0
-12,282 0 0 0 0 0 0 0 0 0 0 0
-10.03A 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0
-7.001 0 0 0 0 0 0 0 0 0 0 0
-Si67 0 0 0 0 0 0 0 0 0 0 0
3.154 0 0 0 0 0 0 0 0
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0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 I] 0 0 0 0 0 0 0 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 D o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
a
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -12,202 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -10,634 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5,900 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 a 0 0 0 0 0 0 0 -7.061 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -9,167 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -3,lYd 0 0 0 Q 0 0 0 0 0 0 0 0 0 0 0 0
0 - ~ ~ , a s o
Exhibit A
Page 31
u t rJ I IJ I( L r, t IJ L t H @ 0 3 1 / 0 3 7
w311a038 342
o w a / z o 3 ~ 304 01/31/2039 W3
03/31/2038 365 OU3012039 Si6 05/31/2039 347 oe/30/203~ 3.18 o 7 / ~ 2 0 3 9 %e 08/S1/2039 350 09/30/2039 361 10/31/2039 352 11130/2039 353 12/31/2039 35-4 01/31/2040 355 02J20/2040 356 03/31/2040 357
06/31/2040 350 OW3012040 980 07/31/2040 301 OE/3112040 382 09/30/2040 363 10/31/2090 3W 11/30/2040 365
01/31/2042 387 0212E/2041 3-48 03/31/2041 369 0.1/30/2041 370 05/31/2041 371
07/31 1204 1 373 08/31/2OAl 374 09/30/2M 1 375 10/31/2061 376 11/30/2041 377 12131/2bil 376 01/31/2042 379 02/28/2042 380 03/91/2042 381 W/M/2M2 332 05/31/2042 383 06/30/2M2 304 07C3112062 385 o a / 3 i / x ~ 2 386 09/30/2M2 357
i1/3n/zo62 388 iz31/20r2 390 01/31/2043 381
o.d/3012040 358
i za i /2040 3oe
oi3/30/204i 372
10/31/2042 388
02/28/2043 392 0313W043 383 04/30/2043 394 05/31/2043 385
07/31120d3 397 O M l / 2 M 3 398 09/30/2W3 399
11/30/2043 401 1213112043 402 01/31/2044 403
03/31/2044 406 04/30/20M 406 06/31/2046 407 ObBO12W 408 07/31/2064 do9 08/31/2014 a i 0 09130/20r4 4 11 10/31/20M A12 i i n o m ~ a 4 ~ 3 1231/20414 414 01/31/2045 a i s 02/28/2045 41 6 03/31/2045 417 W/30/2045 a i 8 05/31/2045 419 0~30/2043 420 07/31/2065 829 08/31/20aS 422 08/30/2b)5 423 r0/3iaoas 424 11/30/2045 A25 12/31/2045 420 01/3P/204& 429 02/2A/2046 628 03/31/2046 42Q M/30/2040 430
oa/3a/zo43 306
i0/3inoa3 aoo
o a 2 ~ 2 0 4 a 404
06/3112o~e 43 1
Sum
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Q 0 0 0
a
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 I) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
3,344,239
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0
-1,041 0 0 0 0 0 0 (1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 D 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 11 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 0 0 0 0
1.770,623 3 . 2 4 2 3 9
0 0 0 0 0 0 0 -1.041 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
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Exhibit
Page 32
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TAB 3
.-. -Exhibit A
Page 33
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a- -- ".- Exhibit A-*
Page 37
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Refinancing Process
A refinancing of secured debt is permitted under the RUS Mortgage. Included below is an excerpt fi-om the RUS Mortgage providing for such refinancing, CoBank can provide electronic copies of all CoRank documents.
The specific steps for refinancing RUS notes are; 1. Provide CoBank with your RUS form 613 (Quarterly RUS Statement of
Loan Account) in order to analyze notes beneficial to refinance. 2. CoBank completes due diligence and provides loan commitment. 3. Provide notice to RUS o f prepayment, designating notes to be prepaid and
request for payoff memorandum. This notice must be at least four business days before the desired pay off date.
RUS Payoffhformation: Direct Loan and Grant Branch (DLGB) o Telephone: 3 14-457-4049 or 3 14-457-4083 o Fax: 314-457-4283 or 3 14-457-4284 o Ernail : [email protected]
o Telephone: 3 14-457-4021 4. Obtain and forward to CoBank, RUS prepared spreadsheet setting forth
principal and interest to be paid off. 5. Apply and obtain any required regulatory approval as defined by applicable
state. 6 . Provide borrowing resolution and return all executed loan documents to
CoBank. 7. Borrower notifies CoBank as to whether prior period amounts due will be
delivered to CoBank or if it will be drawn from borrower's CoBank line of credit for final settlement of RUS notes.
Cash Transmittal Questions: Cash Management Branch (CMB)
8, Principal balance and interest wired by CoBank to RUS paying off notes. 9 , Supplemental mortgages filing complete and opinion of counsel delivered to
CoBank. Excerpt from Article 11 of the RUS Mortgage
SECTION 2.02. Refunding or Refinancing Norcs: Thc Mortgagor shall also havc the right without thc consent of any Mortgagee or any Noteholder to issue Additional Notes for the purpose of refbnding or refinancing any Notes so long as thc total amount of outstanding indebtedness evidenced by such Additional Note or Notes is not greater than 105% of the then outstanding principal balance of the Note or Notes being refunded or refinanced. PROVIDED, HOWEVER, that the Mortgagor may not exercise its rights under this Section if an Event of Default has occurred and is continuing, or any event which with the giving of notice or lapse of time or both would heconic an Event of Default has occurrcd and is continuing. On or before the first advance of proceeds from Notes issued under this section, the Mortgagor shall notify each Mortgagee of the rehnding or refinancing. Additional Notes issued pursuant to this Section C2.021 will thereupon &e secured equally and ratably with the Nates.
Exhibit
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