**FEDERAL RAILROAD ADMINISTRATION**

**Railroad Rehabilitation and Improvement Financing Program**

**Loan Application**

**Applicant**: [     ]{.underline}

**Amount of loan request**: [     ]{.underline}

**Date**: [     ]{.underline}

Please use this form as your Railroad Rehabilitation and Improvement
Financing (RRIF) Program loan application. It will provide the Federal
Railroad Administration (FRA) with the basic information necessary to
begin processing your application. The information requested in this
form is the same as that required in 49 CFR Part 260, the RRIF
implementing regulation. The related section of the regulation is
identified for each item.

**1. Applicant Identification** \[260.23(a)\]

> Provide the full and correct name and principal business address of
> the Applicant in the spaces below:
>
> Legal entity name: [     ]{.underline}
>
> Address 1: [     ]{.underline}
>
> Address 2: [     ]{.underline}

City: [     ]{.underline}

> State: [     ]{.underline} Zip: [     ]{.underline}

**2. Incorporation Status** \[260.23(b)\]

Provide information on the nature of the applicant\'s organizational
structure in the spaces below.

Date of incorporation: [     ]{.underline}

> Place of incorporation: [     ]{.underline}

Provide a list of Applicant's owners with the percentage of ownership of
each (disregard if the

Applicant's stock is publicly traded), as Attachment 2a.

Provide a list of affiliated companies, including subsidiaries, parent,
companies sharing

common ownership, or other related companies, describing the nature of
the relationship, as

Attachment 2b.

If the Applicant is not a corporation, provide a brief description
either:

> As [Attachment 2c - Description of Organization]{.underline}, or
>
> Below
>
> [     ]{.underline}

**3. Contact Information** \[260.23(c)\]

Provide contact information in the spaces below of the person with whom
FRA may communicate

regarding the application.

> Name: [     ]{.underline}
>
> Title:       [     ]{.underline}
>
> Address 1: [     ]{.underline}
>
> Address 2: [     ]{.underline}
>
> City: [     ]{.underline}
>
> State: [     ]{.underline} Zip: [     ]{.underline}
>
> Phone: [     ]{.underline}
>
> FAX: [     ]{.underline}
>
> Email: [     ]{.underline}

**4. Other Participant(s) in Loan Application (if any)** \[260.23(d)\]

> Does the project involves another railroad or other participant,
> through joint execution, coordination, or otherwise?
>
> No other participants
>
> Yes
>
> If yes, please describe the relationship between the Applicant and
> such other railroad or participant in the project, including financial
> statements (if applicable) and financing arrangements, portion of the
> work to be performed by each participant, and anticipated level of
> usage of the equipment or facility of each participant when the work
> is completed.

Other participant description is provided:

As [Attachment 4 - Description of Other Participants,]{.underline} or

Below

[     ]{.underline}

5.  **Executive Summary**

Provide a separate executive summary of the application, outlining the
project and the recent traffic volumes moved and gross and net revenues,
as [Attachment 5 -- Executive Summary]{.underline}.

**6. Project Description** \[260.23(e)(1)\]

> Provide, as [Attachment 6a - Project Description]{.underline},

-   a detailed description of the amount and timing of the requested
    financial assistance,

-   the purpose or purposes of the requested financial assistance,

-   itemized summaries, by location, of each work activity, the material
    quantities for each, and the corresponding cost estimates for labor
    and material (shown separately), and

-   unit costs and assumptions used as a basis for the cost estimates.

> Presenting information in a table format is desirable, but any
> well-organized and easily readable format is acceptable, provided the
> necessary information is included.
>
> Track work for sidings and yards should be shown on separate lines
> from that done on main tracks, and subtotals provided when useful: as
> for main, sidings, yard - or for totaling work shown on individual
> tracks in a yard or in separate spans of a bridge. For rail
> replacement, weight of existing rail in the segment should be shown,
> and with that table, assumption for salvage value or explanation of
> other disposition (as: relay in another location).
>
> For projects that include major rehabilitation, upgrade, relocation,
> or construction of any infrastructure, provide drawings and/or
> illustrations adequate to permit an independent review of cost
> estimates as [Attachment 6b -- Drawings/Photographs]{.underline}. This
> would include work such as rehabilitation or construction of
> buildings, bridges, yards and terminal facilities; power, water,
> fueling, environmental mitigation, and signal systems; major earthwork
> or drainage work; and roadbed stabilization. Photographs of the site
> or existing structures are often helpful as well. Also, provide
> documentation of how the cost estimate was developed (e.g.,
> applicant's experience, estimates by qualified engineers, proposals by
> firms to undertake the work, etc..)
>
> Also, using the space below check all that apply and enter approximate
> cost and loan request.
>
> **[Project Elements Total Cost Loan Request]{.underline}**
>
> Line or company acquisition \$ [     ]{.underline} \$
> [     ]{.underline}
>
> Line rehabilitation or upgrade \$ [     ]{.underline} \$
> [     ]{.underline}
>
> Bridge rehabilitation or upgrade \$ [     ]{.underline} \$
> [     ]{.underline}
>
> Rail Equipment acquisition
>
> Locomotive \$ [     ]{.underline} \$ [     ]{.underline}
>
> Rail cars \$ [     ]{.underline} \$ [     ]{.underline}
>
> Other \$ [     ]{.underline} \$ [     ]{.underline}
>
> Equipment rehabilitation \$ [     ]{.underline} \$ [     ]{.underline}

Other facility acquisition or upgrade

MOE shop \$ [     ]{.underline} \$ [     ]{.underline}

Storage \$ [     ]{.underline} \$ [     ]{.underline}

Office \$ [     ]{.underline} \$ [     ]{.underline}

Other:       \$ [     ]{.underline} \$ [     ]{.underline}

Refinancing (see below) \$ [     ]{.underline} \$ [     ]{.underline}

Other: Please describe: [     ]{.underline}

Total \$ [     ]{.underline} \$ [     ]{.underline}

For each existing debt that you wish to refinance provide, as
[Attachment 6c - Refinancing]{.underline}:

-   copy of the documentation for the original loan

-   original loan date

-   original lender

-   original loan amount

-   original purpose, and

-   remaining balance

######## **7. Project Purpose** \[260.23(e)(1)\]

##### Describe the project purpose:

> Using [Attachment 7 - Project Purpose]{.underline}, or
>
> Using the summary outline below.
>
> Please check each category that applies and provide a brief narrative
> description of the applicant's views on how the proposed project
> aligns with these areas of interest.
>
> Enhance public safety
>
> Promote economic development
>
> Enhance international competitiveness of U.S. companies
>
> Preserve or enhance rail service to small communities or rural areas
>
> Increase rail traffic
>
> Reduce operating costs
>
> Permit use of higher load rail cars
>
> Other (describe below)
>
> [     ]{.underline}

**8. Description of Affected Facilities and Equipment** \[260.23(e)(2)\]

Provide a description of facilities and equipment affected directly or
indirectly by this project and their current physical condition:

As [Attachment 7 - Description of Affected Facilities or
Equipment]{.underline}, or

Below

[     ]{.underline}

**9. Project Components and Schedule for Completion \[260.23(e)(3)\]**

Describe each component into which the project may reasonably be
divided.

> Not applicable; project is not subdivided into components

As [Attachment 9 - Project Components]{.underline}, or

In the table below

  ----------------------------------------------------- -----------------
  **Project Component**                                 **Cost (\$000)**

                                                             

                                                             

                                                             
  ----------------------------------------------------- -----------------

**10. Project Timing** \[260.23(e)(4)\]

Provide commencement and completion dates and estimated timing of the
expenditure of the proceeds of the financial assistance being requested
for the overall project and by project component

> Project Planned Commencement Date: [     ]{.underline}
>
> Project Planned Completion Date: [     ]{.underline}
>
> Expenditure Schedule is provided:

As [Attachment 10 - Expenditure Schedule]{.underline}, or

In table below

  ----------------------- ----------------------- -----------------------
  **Project Component**   **Expenditure Amount    **Beginning/Ending
                          (\$000)**               Dates**

                                                       

                                                       

                                                       

                                                       

                                                       

                                                       

                                                       

                                                       

                                                       
  ----------------------- ----------------------- -----------------------

**11. Railroad and** **Project Map** \[260.23(e)(5)\]

Provide a map of the existing railroad (even if the project is not
line-related) with location of project indicated, if appropriate.

> A railroad map is provided:

As [Attachment 11 - Railroad and Project Map]{.underline}, or

Below

> [     ]{.underline}

**12. Collateral Description** \[260.23(f)\]

> List and describe the collateral offered to secure the financial
> assistance sought and provide its liquidation value. Include the
> assets to be acquired, rehabilitated, or improved with the proceeds of
> the loan requested.
>
> If a general mortgage on the entire business is being offered, provide
> the going concern value of the business.
>
> Collateral description is provided:

As [Attachment 12 - Collateral Description]{.underline}, or

Below

  ------------------------------------- ----------------- ---------------
  **Collateral Description**            **Net Liquidation **Basis of
                                        Value (\$000)**   Valuation\***

                                                               

                                                               

                                                               

                                                               
  ------------------------------------- ----------------- ---------------

> \*Indicate \"Basis of Valuation\" as follows:
>
> A = Independent Appraisal
>
> B = Applicant\'s Estimate
>
> C = Current Replacement Cost

D = Other (Describe Here: [     ]{.underline})

**13. Financial Claims Involving the U.S. Government** \[260.23(g)(1)\]

> Describe any claims against the Applicant, or any affiliated corporate
> entity, by the U.S. Government (example, fines, tax claims, etc.), and
> any claims by the Applicant against the U.S. Government.
>
> None

Claims involving the U.S. Government are listed:

As [Attachment 13 -Claims Involving the U.S. Government]{.underline}, or

Below

[     ]{.underline}

**14. Debits and Credits with the U.S. Government** \[260.23(g)(2)\]

Describe all outstanding debits (e.g., loans) or credits with the U.S.
government (routine accounts receivable need not be listed)

> None
>
> Described in [Attachment 14 - Debits and Credits Involving the U.S.
> Government]{.underline}, or
>
> Below
>
> [     ]{.underline}

**15. Market Analysis** \[260.23(h)(1)\]

> To the extent such information is available, provide all market
> analyses and studies that have been
>
> performed to determine

-   present and future demand for the rail services or facilities
    involved in the project,

-   whether the financing is justified by present and future probable
    demand for rail services or facilities,

-   whether the project will meet existing needs for such services or
    facilities, and

-   whether the project will provide shippers or passengers with
    improved service.

> No supporting market analyses available
>
> Analyses provided as [Attachment 15 - Market Analyses]{.underline}, or
>
> Below

[     ]{.underline}

**16. Traffic** \[260.23(h)(2)\]

> Provide historic levels of traffic moved by Applicant for the past
> five years, by commodity. If the Applicant has not owned the property
> for the five years, please provide traffic levels of prior owner.
> Also, provide a discussion and appropriate analysis that demonstrates
> the projected level of traffic can be accommodated on the applicant's
> system as proposed, including connections to other carriers.
>
> Provided as [Attachment 16a - Traffic]{.underline}, or
>
> In table below

  ------------ --------- ------------ ------------ ------------ ------------
  Commodity    Current   Current Year Current Year Current Year Current Year
                         Minus 1      Minus 2      Minus 3      Minus 4

                                                                

  Item 1                                                        

  Originated                                                         

  Terminated                                                         

  Overhead                                                           

  Local                                                              

                                                                

  Item 2                                                        

  Originated                                                         

  Terminated                                                         

  Overhead                                                           

  Local                                                              
  ------------ --------- ------------ ------------ ------------ ------------

> Describe the impact of the project upon the projected freight or
> passenger traffic to be originated, terminated, or carried by the
> Applicant for the next five years, including assumptions and
> justifications for projected changes.
>
> Data and information regarding the traffic impact:
>
> Provided as [Attachment 16b - Traffic Impact]{.underline}, or
>
> In table below

  ------------ --------- ------------ ------------ ------------ ------------
  Commodity    Current   Current Year Current Year Current Year Current Year
                         Plus 1       Plus 2       Plus 3       Plus 4

                                                                

  Item 1                                                        

  Originated                                                         

  Terminated                                                         

  Overhead                                                           

  Local                                                              

                                                                

  Item 2                                                        

  Originated                                                         

  Terminated                                                         

  Overhead                                                           

  Local                                                              
  ------------ --------- ------------ ------------ ------------ ------------

Please explain the bases for the above projections, including a list of
assumptions made and description of the data used in establishing those
assumptions.

[     ]{.underline}

**17. Cost Savings and Other Benefits** \[260.23(h)(4)\]

Describe the cost savings or any other benefit to the applicant that
would accrue from the project.

#### 

Provided as [Attachment 17 - Cost Savings and Other
Benefits]{.underline}, or

Below

> [     ]{.underline}

**18. Safety Improvements** \[260.23(i)\]

> Provide a statement as to how the project will contribute to, or
> enhance, the safe operation of
>
> the railroad (consider effects on employees, passengers, and
> facilities).

#### 

Provided as [Attachment 18 - Safety Improvements]{.underline}, or

Below

> [     ]{.underline}
>
> Provide a list of violations of FRA safety standards cited by FRA or
> State inspectors over the preceding 5 years and how these violations
> have been addressed.

**19. Description of Applicant\'s Maintenance Program** \[260.23(j)\]

> Describe the your maintenance program for your entire rail system and
> planned maintenance program for the equipment or facilities financed
> by the proceeds of the financial assistance

#### 

Provided as [Attachment 19 - Maintenance Program]{.underline}, or

Below

> [     ]{.underline}

**20. Environmental Impacts** \[260.23(l)\]

> Provide information relevant to the potential environmental impacts of
> the project in the context of applicable Federal laws:
>
> If you believe your project has no potential for environmental impact
> and that it should be categorically excluded from detailed
> environmental review (please refer to section 4(c) of FRA's Procedures
> for Considering Environmental Impacts \[accessible from the RRIF home
> page on FRA's web site\] for additional information), the applicant
> should submit a completed FRA Categorical Exclusion Worksheet as
> [Attachment 20 -- Environmental Worksheet.]{.underline}
>
> If you believe your project may have potential environmental impacts
> or for a project that does not fit into of the existing categories of
> excluded actions (please refer to section 4(c) of FRA's Procedures for
> Considering Environmental Impacts \[accessible from the RRIF home page
> on FRA's web site\] for additional information), you will need to
> consult with the FRA environmental analysis staff to determine whether
> an Environmental Assessment or an Environmental Impact Statement may
> be required for the proposed project.
>
> If you believe your project may have potentially significant
> environmental impacts, the applicant should consult with FRA's
> environmental analysis staff before submitting any assessment of
> environmental impacts because of special requirements that apply to
> the preparation of environmental impact statements.
>
> **Note**: an application is not complete until FRA has concluded that
> the proposed project meets FRA's obligations under NEPA and related
> laws, regulations and orders.

**21. Financial Statements** \[260.25(b)(1)\]

Provide, as [Attachment 21 -- Financial Statements]{.underline}, Balance
Sheets and Income Statements (audited if available, otherwise complied
or reviewed by an independent Certified Public Accountant) for the past
4 full years of operation (or all that is available if applicant has not
been in operation for that period) and the current partial year up to
the date of this application. Also provide a statement of capital
expenditures undertaken each year during that period.

**22. Financial Projections** \[260.25(b)(2)\]

Provide, as [Attachment 22 -- Financial Projections]{.underline},
Balance Sheets, Income Statements and Cash Flow Statements projected for
each of the next 5 years, after giving effect to the savings to be
generated by the project to be funded with proceeds of the funding
requested in this application. Also include a statement of yearly
planned capital expenditures for the next 5 years.

**23. Credit Rating** \[260.23(n)\]

####  

Applicant has a credit rating from a nationally recognized rating agency

> Agency: [     ]{.underline}
>
> Rating: [     ]{.underline}
>
> Date: [     ]{.underline}

Please attached as [Attachment 23 -- Credit Rating]{.underline}

Applicant does not have a credit rating

**Note:** If you have a credit rating, skip items 24 and 25. If you do
not have a credit rating, please continue to complete the remaining
items.

**24. Business Plan** \[260.25(a)

Provide a statement describing your current and prospective traffic
base, by commodity, major markets served and major interchange points
and market development plans, if any. Please include a discussion of
your operating patterns and planned changes, planned maintain of
equipment and rights-of-way both before and after the project, and any
plans to rationalize marginal or uneconomic service.

Also describe any anticipated changes in traffic volume (both total and
by commodity), revenue per carload, shippers or the competitive
environment in which Applicant operates.

Provided:

> As [Attachment 24 - Business Plan]{.underline}, or
>
> Below
>
> [     ]{.underline}

**25. Management Team** \[260.25(f)\]

Provide a description of your management team, including the rail
experience of the top managers, management's plans for growth, and the
your workforce.

Provided:

#### 

As [Attachment 25 - Management Team]{.underline}, or

Below

> [     ]{.underline}

Thank you for completing the RRIF Loan Application. Please be aware that
after reviewing your application, the Administrator may require that you
submit additional information necessary to complete the application
\[260.23(n)\]. An analyst will contact you.

Date: [     ]{.underline} Submitted by: [     ]{.underline}

Title: [     ]{.underline}

Please submit the original application with four paper copies and a CD
with the electronic version of the Application and supporting documents
and attachments. Your completed application package should be sent by
overnight delivery to:

###### RRIF Application 

Federal Railroad Administration

Office of Innovative Finance (RDV-12)

Room W36-320

1200 New Jersey Ave., S.E.\
Washington, D.C. 20590