Document:

exv10w27

 

Exhibit 10.27

FIRST AMENDMENT

TO

LEASE AGREEMENT

     THIS FIRST AMENDMENT TO LEASE AGREEMENT is entered into as of June 28, 2002, among RYAN
COMPANIES US, INC., a Minnesota corporation (“Landlord”), PEGASUS SOLUTIONS COMPANIES, a
Delaware corporation (“Tenant”), and PEGASUS SOLUTIONS, INC., a Delaware corporation
(“Guarantor”).

     Undefined capitalized terms in this First Amendment shall have the meanings ascribed to
such terms in the Lease described below.

Recitals:

     A. Landlord and Tenant entered into that certain Lease dated September 14,
2001 under which Landlord leased to Tenant space in Pegasus Corporate
Center — Northsight at 14000 North Pima Road, Scottsdale, Arizona 85260. Guarantor
guaranteed the obligations of Tenant under the Lease.

     B. The Lease grants Tenant the option to increase or decrease the size of
the Premises upon written notice to Landlord.

     C. Tenant has elected to increase the size of the Premises, and Landlord and
Tenant now wish to amend the Lease to memorialize the increase in the size of the
Premises.

Covenants:

     NOW, THEREFORE, for valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Landlord and Tenant agree as follows:

     1. The Rentable Area of the Premises is hereby increased to 124,984 square
feet.

     2. Tenant’s Share of Operating Costs is hereby increased to eighty-nine
percent (89%).

     3. The adjusted Rentable Area and Tenant’s Share shall be considered final
for all purposes under the Lease.

     4. Except as expressly amended, the Lease as amended shall continue in
full force and effect in all respects.

-1-

 

     5. Guarantor consents to this First Amendment.

	 	 	 	 	 	 	 	 	 
	LANDLORD:	 	 	 	TENANT:
	 
	 	 	 	 	 	 	 	 
	RYAN COMPANIES US, INC,	 	 	 	PEGASUS SOLUTIONS COMPANIES
	 
	 	 	 	 	 	 	 	 
	By

	 	 
	 	 
	 	By
	 	 
	Its

	 	
 
	 	 
	 	Its
	 	
 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	GUARANTOR:
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	PEGASUS SOLUTIONS, INC.
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 
	 	By

	 	 

	 

	 	 	 	 
	 	
Its
	 	
 

-2-exv10w28

 

Exhibit 10.28

SECOND AMENDMENT TO LEASE AGREEMENT

     THIS SECOND AMENDMENT TO LEASE AGREEMENT (this “Amendment”) is entered into on
February 28, 2003 by RYAN COMPANIES US, INC., a Minnesota corporation (“Landlord”), Pegasus
Solutions Companies, a Delaware corporation (“Tenant”), and Pegasus Solutions, Inc., a
Delaware corporation (“Guarantor”).

Recitals:

     A. Landlord and Tenant entered into that certain Lease Agreement (“Lease”)
for the Premises dated as of September 14, 2001, as amended by that certain First
Amendment (“First Amendment”) to Lease Agreement dated as of June 28, 2002.
Undefined capitalized terms in this Amendment are used as defined in the Lease.

     B. The Scheduled Commencement Date under the Lease was January 1,
2003. Subsequently, Landlord and Tenant agreed to extend the Scheduled
Commencement Date to January 15, 2003. Landlord tendered possession of the
Premises to Tenant, on schedule, upon Substantial Completion of the Project.

     C. Tenant is in possession of the Premises and conducting business, and the
Term of the Lease has commenced.

     D. Accordingly, Landlord and Tenant desire to amend the Lease to
memorialize the Lease Term Commencement Date, Total Project Cost, annual Base
Rent and other matters relating to the Building and the Premises.

Covenants:

     NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Landlord and Tenant agree as follows:

     1. The Lease Term Commencement Date is January 15, 2003. Tenant’s
obligation for the payment of annual Base Rent and other performance under the Lease
began on that date.

     2. The Lease Expiration Date is January 31, 2013 unless the Lease is
sooner terminated or thereafter extended as provided in the Lease.

     3. The Rentable Area of the Building is 144,959 square feet, and the
Rentable Area of the Premises is 124,984 square feet, as calculated and certified by the
Project Architect, Evolution Design. Tenant’s Share of Operating Costs is eighty-six and
twenty-two hundredths percent (86.22%).

-1-

 

     4. Total Project Cost verified to date is Twenty-Three Million Five Hundred
Two Thousand Nine Hundred Dollars ($23,502,900.00), as reflected in Exhibit A, which
supersedes the cost estimates in Exhibit E to the Lease.

     5. Based on Total Project Cost of $23,502,900.00, annual Base Rent is:

	 	 	 
	Rental Period	 	Annual Base Rent
	Years 1–5
	 	$3,086,420.00
	Years 6–10
	 	$3,414,073,00

     6. Rent payable by Tenant under the Lease will include, in addition to Base
Rent, Operating Costs and all other sums payable by Tenant to Landlord, a sum equal
to the product of $4.00 and the Rentable Area of the Premises, representing certain
Tenant Improvement costs over the Tenant Improvement Allowance, which will be
amortized over the initial ten-year Term of the Lease at a per annum rate of interest of
ten percent (10). The payment schedule for such additional Rent is set forth in Exhibit B.

     7. In the event of any inconsistency between the provisions of the Lease
(including the First Amendment) and this Amendment, this Amendment will govern.
Except as expressly provided above, the Lease shall remain in full force and effect
without change.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	LANDLORD:	 	 	 	TENANT:	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	RYAN COMPANIES US, INC.,	 	 	 	PEGASUS SOLUTIONS COMPANIES,	 	 
	a Minnesota corporation	 	 	 	a Delaware corporation	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	By:	 	 	 	 	 	By:	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 

	 	Its:	 	 	 	 	 	 	 	Its:
	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	GUARANTOR:	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	PEGASUS SOLUTIONS, INC.,	 	 
	 	 	 	 	 	 	 	 	a Delaware corporation	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	By:	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	Its:
	 	 	 	 

-2-

 

EXHIBIT A

Summary

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Pegasus
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	2/12/03	 	 	 	 	 	 	 	 
	 
	SPACE TYPE	 	SF	 	 	COST PSF	 	 	CONST. COST	 	 	 	 	 	 	 	 	 	 	 	 	 
	OFFICE
	 	 	144,959	 	 	$	62.78	 	 	 	9,100,526	 	 	 	 	 	 	 	 	 	 	 	 	 
	WAREHOUSE
	 	 	0	 	 	$	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 
	OTHER
	 	 	0	 	 	$	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 
	OTHER
	 	 	0	 	 	$	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 
	OTHER
	 	 	0	 	 	$	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 
	OTHER
	 	 	0	 	 	$	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 
	OTHER
	 	 	0	 	 	$	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 
	OTHER
	 	 	0	 	 	$	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 
	TOTAL	 	 	144,959	 	 	 	11	 MONTH CONSTRUCTION PERIOD	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	CONSTRUCTION COST
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	SHELL @ SQ FT COST OF
	 	 	 	 	 	 	 	 	 	 	62.78	 	 	 	9,100,526	 	 	 	 	 	 	 	 	 
	SITE WORK
	 	 	 	 	 	 	 	 	 	 	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 
	DESIGN & PERMITS
	 	 	 	 	 	 	 	 	 	 	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 
	CITY FEE
	 	 	 	 	 	 	 	 	 	 	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 
	PARKING DECK
	 	 	 	 	 	 	 	 	 	 	26.91	 	 	 	3,900,847	 	 	 	 	 	 	 	 	 
	LAND CARRY
	 	 	 	 	 	 	 	 	 	 	0.30	 	 	 	43,488	 	 	 	 	 	 	 	 	 
	INFRASTRUCTURE
	 	 	 	 	 	 	 	 	 	 	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 
	TOTAL CONSTRUCTION COSTS
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	13,044,860	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	LAND
	 	 	5.00	  ACRES	 	 
	 	PSF@	 	 	 	16.41	 	 	 	3,574,098	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	DEVELOPMENT COSTS
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	LEGAL
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	70,000	 	 	 	 	 	 	 	 	 
	TITLE
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	26,452	 	 	 	 	 	 	 	 	 
	FINANCING FEES
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	235,029	 	 	 	 	 	 	 	 	 
	MISCELLANEOUS
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	40,000	 	 	 	 	 	 	 	 	 
	TOTAL DEVELOPMENT COSTS
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	371,481	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	INTERIM INTEREST
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	813,853	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	CARRY
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	0	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	MARKETING
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	10,000	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	CONTINGENCY
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	25,000	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	DEVELOPERS FEE
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	400,000	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	TOTAL BASE BUILDING
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	18,239,292	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	LEASING FEES
	 	MONTH LEASE STARTS	 	SQ FT	 	 	ALLOW PER SF	 	 	 	 	 	 	 	 	 	 	 	 	 
	PEGASUS
	 	 	 	1	 	 	124,984	 	 	 	8.00	 	 	 	999,872	 	 	 	 	 	 	 	 	 
	TENANT 2
	 	 	 	7	 	 	19,975	 	 	 	7.00	 	 	 	139,825	 	 	 	 	 	 	 	 	 
	TENANT 3
	 	 	 	0	 	 	0	 	 	 	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 
	TENANT 4
	 	 	 	0	 	 	0	 	 	 	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 
	TENANT 5
	 	 	 	0	 	 	0	 	 	 	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 
	TENANT 6
	 	 	 	0	 	 	0	 	 	 	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 
	TENANT 7
	 	 	 	0	 	 	0	 	 	 	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 
	TENANT 8
	 	 	 	0	 	 	0	 	 	 	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 
	TOTAL LEASING COSTS
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	1,139,697	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	TENANT IMPROVEMENTS
	 	 	 	 	 	SQ FT	 	 	ALLOW PER SF	 	 	 	 	 	 	 	 	 	 	 	 	 
	PEGASUS
	 	 	 	 	 	 	124,984	 	 	 	29.00	 	 	 	3,624,536	 	 	 	 	 	 	 	 	 
	TENANT 2
	 	 	 	 	 	 	19,975	 	 	 	25.00	 	 	 	499,375	 	 	 	 	 	 	 	 	 
	TENANT 3
	 	 	 	 	 	 	0	 	 	 	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 
	TENANT 4
	 	 	 	 	 	 	0	 	 	 	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 
	TENANT 5
	 	 	 	 	 	 	0	 	 	 	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 
	TENANT 6
	 	 	 	 	 	 	0	 	 	 	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 
	TENANT 7
	 	 	 	 	 	 	0	 	 	 	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 
	TENANT 8
	 	 	 	 	 	 	0	 	 	 	0.00	 	 	 	0	 	 	 	 	 	 	 	 	 
	TOTAL TENANT IMPROVEMENTS
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	4,123,911	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	TOTAL TENANT COSTS
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	5,263,608	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	TOTAL PROJECT COSTS
	 	 	 	 	 	 	 	 	 	 	162.13 / SQ FT	 	 	 	 	 	23,502,900	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	2/25/03
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Pegasus 2-proforma	 

 

 

EXHIBIT ‘A’ Continued

Development Costs

	 	 	 	 	 	 	 	 	 
	ASSUME MORTGAGE OF
	 	$	23,502,900	 	 	 	 	 
	LEGAL
	 	 	 	 	 	 	 	 
	RYAN
	 	 	 	 	 	 	0	 
	LENDER
	 	INTERIM	 	 	20,000	 
	LENDER
	 	PERMANENT	 	 	0	 
	OTHER
	 	 	 	 	 	 	50,000	 
	OTHER
	 	 	 	 	 	 	0	 
	 
	 	 	 	 	 	 	 	 
	TOTAL LEGAL
	 	 	0	 	 	 	70,000	 
	 
	 	 	 	 	 	 	 	 
	TITLE
	 	 	 	 	 	 	 	 
	MORT REG TAX INTERIM
	 	 	 	 	 	 	0	 
	
MORT REG TAX PERM
	 	 	 	 	 	 	0	 
	TITLE INS PREM
	 	 	 	 	 	 	16,452	 
	TITLE DISB FEE
	 	 	 	 	 	 	2,500	 
	CLOSING,RECORD,MISC
	 	 	 	 	 	 	7,500	 
	 
	 	 	 	 	 	 	 	 
	TOTAL TITLE
	 	 	 	 	 	 	26,452	 
	 
	 	 	 	 	 	 	 	 
	FINANCING FEE
	 	 	 	 	 	 	 	 
	INTERIM
	 	 	1.00	 	 	 	235,029	 
	PERMANENT
	 	 	0.00	 	 	 	0	 
	OTHER
	 	 	 	 	 	 	0	 
	 
	 	 	 	 	 	 	 	 
	TOTAL FINANCING
	 	 	 	 	 	 	235,029	 
	 
	 	 	 	 	 	 	 	 
	MISCELLANEOUS
	 	 	 	 	 	 	 	 
	SURVEY
	 	 	 	 	 	 	5,000	 
	INSPECT ARCH
	 	 	 	 	 	 	0	 
	APPRAISAL
	 	 	 	 	 	 	5,000	 
	ENVIROMENTAL
	 	 	 	 	 	 	5,000	 
	PARK DEDICATION
	 	 	 	 	 	 	0	 
	TRAVEL
	 	 	 	 	 	 	0	 
	INTERIM RE TAXES
	 	 	 	 	 	 	15,000	 
	OTHER
	 	 	 	 	 	 	10,000	 
	OTHER
	 	 	 	 	 	 	0	 
	LAND RENT/YEAR CONST
	 	 	 	 	 	 	0	 
	INFRASTRUCTURE
	 	 	 	 	 	 	0	 
	 
	 	 	 	 	 	 	 	 
	TOTAL MISCELLANEOUS
	 	 	 	 	 	 	40,000	 
	 
	 	 	 	 	 	 	 	 
	MARKETING
	 	 	 	 	 	 	 	 
	BROCHURE
	 	 	 	 	 	 	0	 
	ADVERTISING
	 	 	 	 	 	 	0	 
	FUNCTIONS
	 	 	 	 	 	 	10,000	 
	MODELS
	 	 	 	 	 	 	0	 
	OFFICE
	 	 	 	 	 	 	0	 
	OTHER
	 	 	 	 	 	 	0	 
	 
	 	 	 	 	 	 	 	 
	TOTAL MARKETING
	 	 	 	 	 	 	10,000	 
	 
	 
	2/25/03
	 	 	 	 	 	Pegasus 2-proforma	 

 

 

EXHIBIT B

	 	 	 	 	 
	LOAN AMORT,
SCHEDULE	 	25-Feb-03
	PROPERTY :

	 	PEGASUS SOLUTIONS	 	 

ASSUMPTIONS:

	 	 	 	 	 	 	 	 	 
	First Payment Date

	 	01-Feb-03
	 	EST.DATE	 	 
	Principal
Borrowed

	 	$	499,936.00	 	 	EST BEG BAL
	 	$4 Per RSF = 124,984
	Term in Months

	 	 	120	 	 	 	 	 
	Interest Rate

	 	 	10.00	%	 	 	 	 
	Payment

	 	$	6,606.69	 	 	 	 	 

AMORTIZATION
TABLE

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	         Payment	 	    Interest	 	 	 	 	 	 	 	 	 	Principal    	 	Principal    
	Payment #	 	         Date	 	   Rate	 	Payment    	 	Interest    	 	Portion    	 	Balance   
	1
	 	0l-Feb-03	 	 	10.00	%	 	$	6,606.69	 	 	$	4,166.13	 	 	$	2,440.56	 	 	$	497,495.44	 
	2
	 	0l-Mar-03	 	 	10.00	%	 	$	6,606.69	 	 	$	4,145.80	 	 	$	2,460.90	 	 	$	495,034.55	 
	3
	 	0l-Apr-03	 	 	10.00	%	 	$	6,606.69	 	 	$	4,125.29	 	 	$	2,481.40	 	 	$	492,553.14	 
	4
	 	0l-May-03	 	 	10.00	%	 	$	6,606.69	 	 	$	4,104.61	 	 	$	2,502.08	 	 	$	490,051.06	 
	5
	 	01-Jun-03	 	 	10.00	%	 	$	6,606.69	 	 	$	4,083.76	 	 	$	2,522.93	 	 	$	487,528.13	 
	6
	 	0l-Jul-03	 	 	10.00	%	 	$	6,606.69	 	 	$	4,062.73	 	 	$	2,543.96	 	 	$	484,984.17	 
	7
	 	0l-Aug-03	 	 	10.00	%	 	$	6,606.69	 	 	$	4,041.53	 	 	$	2,565.16	 	 	$	482,419.02	 
	8
	 	0l-Sep-03	 	 	10.00	%	 	$	6,606.69	 	 	$	4,020.16	 	 	$	2,586.53	 	 	$	479,832.48	 
	9
	 	02-Oct-03	 	 	10.00	%	 	$	6,606.69	 	 	$	3,998.60	 	 	$	2,608.09	 	 	$	477,224.40	 
	10
	 	02-Nov-03	 	 	10.00	%	 	$	6,606.69	 	 	$	3,976.87	 	 	$	2,629.82	 	 	$	474,594.58	 
	11
	 	02-Dec-03	 	 	10.00	%	 	$	6,606.69	 	 	$	3,954.95	 	 	$	2,651.74	 	 	$	471,942.84	 
	12
	 	02-Jan-04	 	 	10.00	%	 	$	6,606.69	 	 	$	3,932.86	 	 	$	2,673.83	 	 	$	469,269.01	 
	13
	 	02-Feb-04	 	 	10.00	%	 	$	6,606.69	 	 	$	3,910.58	 	 	$	2,696.12	 	 	$	466,572.89	 
	14
	 	02-Mar-04	 	 	10.00	%	 	$	6,606.69	 	 	$	3,888.11	 	 	$	2,718.58	 	 	$	463,854.31	 
	15
	 	02-Apr-04	 	 	10.00	%	 	$	6,606.69	 	 	$	3,865.45	 	 	$	2,741.24	 	 	$	461,113.07	 
	16
	 	02-May-04	 	 	10.00	%	 	$	6,606.69	 	 	$	3,842.61	 	 	$	2,764.08	 	 	$	458,348.99	 
	17
	 	02-Jun-04	 	 	10.00	%	 	$	6,606.69	 	 	$	3,819.57	 	 	$	2,787.12	 	 	$	455,561.87	 
	18
	 	02-Jul-04	 	 	10.00	%	 	$	6,606.69	 	 	$	3,796.35	 	 	$	2,810.34	 	 	$	452,751.53	 
	19
	 	02-Aug-04	 	 	10.00	%	 	$	6,606.69	 	 	$	3,772.93	 	 	$	2,833.76	 	 	$	449,917.76	 
	20
	 	02-Sep-04	 	 	10.00	%	 	$	6,606.69	 	 	$	3,749.31	 	 	$	2,857.38	 	 	$	447,060.39	 
	21
	 	02-Oct-04	 	 	10.00	%	 	$	6,606.69	 	 	$	3,725.50	 	 	$	2,881.19	 	 	$	444,179.20	 
	22
	 	02-Nov-04	 	 	10.00	%	 	$	6,606.69	 	 	$	3,701.49	 	 	$	2,905.20	 	 	$	441,274.00	 
	23
	 	02-Dec-04	 	 	10.00	%	 	$	6,606.69	 	 	$	3,677.28	 	 	$	2,929.41	 	 	$	438,344.60	 
	24
	 	02-Jan-05	 	 	10.00	%	 	$	6,606.69	 	 	$	3,652.87	 	 	$	2,953.82	 	 	$	435,390.78	 
	25
	 	02-Feb-05	 	 	10.00	%	 	$	6,606.69	 	 	$	3,628.26	 	 	$	2,978.43	 	 	$	432,412.34	 
	26
	 	02-Mar-05	 	 	10.00	%	 	$	6,606.69	 	 	$	3,603.44	 	 	$	3,003.25	 	 	$	429,409.09	 
	27
	 	02-Apr-05	 	 	10.00	%	 	$	6,606.69	 	 	$	3,578.41	 	 	$	3,028.28	 	 	$	426,380.80	 
	28
	 	02-May-05	 	 	10.00	%	 	$	6,606.69	 	 	$	3,553.17	 	 	$	3,053.52	 	 	$	423,327.29	 
	29
	 	02-Jun-05	 	 	10.00	%	 	$	6,606.69	 	 	$	3,527.73	 	 	$	3,078.96	 	 	$	420,248.32	 
	30
	 	02-Jul-05	 	 	10.00	%	 	$	6,606.69	 	 	$	3,502.07	 	 	$	3,104.62	 	 	$	417,143.70	 
	31
	 	02-Aug-05	 	 	10.00	%	 	$	6,606.69	 	 	$	3,476.20	 	 	$	3,130.49	 	 	$	414,013.21	 
	32
	 	02-Sep-05	 	 	10.00	%	 	$	6,606.69	 	 	$	3,450.11	 	 	$	3,156.58	 	 	$	410,856.63	 
	33
	 	02-0ct-05	 	 	10.00	%	 	$	6,606.69	 	 	$	3,423.81	 	 	$	3,182.89	 	 	$	407,673.74	 
	34
	 	02-Nov-05	 	 	10.00	%	 	$	6,606.69	 	 	$	3,397.28	 	 	$	3,209.41	 	 	$	404,464.33	 

Page 1 of 3

 

EXHIBIT B

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Payment	 	Interest	 	 	 	 	 	 	 	 	 	Principal	 	Principal
	Payment #	 	Date	 	Rate	 	Payment	 	Interest	 	Portion	 	Balance
	35
	 	02-Dec-05	 	 	10.00	%	 	$	6,606.69	 	 	$	3,370.54	 	 	$	3,236.15	 	 	$	401,228.18	 
	36
	 	02-Jan-06	 	 	10.00	%	 	$	6,606.69	 	 	$	3,343.57	 	 	$	3,263.12	 	 	$	397,965.05	 
	37
	 	02-Feb-06	 	 	10.00	%	 	$	6,606.69	 	 	$	3,316.38	 	 	$	3,290.32	 	 	$	394,674.74	 
	38
	 	02-Mar-06	 	 	10.00	%	 	$	6,606.69	 	 	$	3,288.96	 	 	$	3,317.73	 	 	$	391,357.00	 
	39
	 	02-Apr-06	 	 	10.00	%	 	$	6,606.69	 	 	$	3,261.31	 	 	$	3,345.38	 	 	$	388,011.62	 
	40
	 	02-May-06	 	 	10.00	%	 	$	6,606.69	 	 	$	3,233.43	 	 	$	3,373.26	 	 	$	384,638.36	 
	41
	 	02-Jun-06	 	 	10.00	%	 	$	6,606.69	 	 	$	3,205.32	 	 	$	3,401.37	 	 	$	381,236.99	 
	42
	 	02-Jul-06	 	 	10.00	%	 	$	6,606.69	 	 	$	3,176.97	 	 	$	3,429.72	 	 	$	377,807.27	 
	43
	 	02-Aug-06	 	 	10.00	%	 	$	6,606.69	 	 	$	3,148.39	 	 	$	3,458.30	 	 	$	374,348.97	 
	44
	 	02-Sep-06	 	 	10.00	%	 	$	6,606.69	 	 	$	3,119.57	 	 	$	3,487.12	 	 	$	370,861.86	 
	45
	 	02-0ct-06	 	 	10.00	%	 	$	6,606.69	 	 	$	3,090.52	 	 	$	3,516.18	 	 	$	367,345.68	 
	46
	 	02-Nov-06	 	 	10.00	%	 	$	6,606.69	 	 	$	3,061.21	 	 	$	3,545.48	 	 	$	363,800.20	 
	47
	 	02-Dec-06	 	 	10.00	%	 	$	6,606.69	 	 	$	3,031.67	 	 	$	3,575.02	 	 	$	360,225.18	 
	48
	 	02-Jan-07	 	 	10.00	%	 	$	6,606.69	 	 	$	3,001.88	 	 	$	3,604.81	 	 	$	356,620.37	 
	49
	 	02-Feb-07	 	 	10.00	%	 	$	6,606.69	 	 	$	2,971.84	 	 	$	3,634.85	 	 	$	352,985.51	 
	50
	 	02-Mar-07	 	 	10.00	%	 	$	6,606.69	 	 	$	2,941.55	 	 	$	3,665.15	 	 	$	349,320.37	 
	51
	 	02-Apr-07	 	 	10.00	%	 	$	6,606.69	 	 	$	2,911.00	 	 	$	3,695.69	 	 	$	345,624.68	 
	52
	 	02-May-07	 	 	10.00	%	 	$	6,606.69	 	 	$	2,880.21	 	 	$	3,726.49	 	 	$	341,898.19	 
	53
	 	02-Jun-07	 	 	10.00	%	 	$	6,606.69	 	 	$	2,849.15	 	 	$	3,757.54	 	 	$	338,140.65	 
	54
	 	02-Jul-07	 	 	10.00	%	 	$	6,606.69	 	 	$	2,817.84	 	 	$	3,788.85	 	 	$	334,351.80	 
	55
	 	02-Aug-07	 	 	10.00	%	 	$	6,606.69	 	 	$	2,786.27	 	 	$	3,820.43	 	 	$	330,531.38	 
	56
	 	02-Sep-07	 	 	10.00	%	 	$	6,606.69	 	 	$	2,754.43	 	 	$	3,852.26	 	 	$	326,679.11	 
	57
	 	02-Oct-07	 	 	10.00	%	 	$	6,606.69	 	 	$	2,722.33	 	 	$	3,884.37	 	 	$	322,794.75	 
	58
	 	02-Nov-07	 	 	10.00	%	 	$	6,606.69	 	 	$	2,689.96	 	 	$	3,916.73	 	 	$	318,878.01	 
	59
	 	02-Dec-07	 	 	10.00	%	 	$	6,606.69	 	 	$	2,657.32	 	 	$	3,949.37	 	 	$	314,928.64	 
	60
	 	02-Jan-08	 	 	10.00	%	 	$	6,606.69	 	 	$	2,624.41	 	 	$	3,982.29	 	 	$	310,946.35	 
	61
	 	02-Feb-08	 	 	10.00	%	 	$	6,606.69	 	 	$	2,591.22	 	 	$	4,015.47	 	 	$	306,930.88	 
	62
	 	02-Mar-08	 	 	10.00	%	 	$	6,606.69	 	 	$	2,557.76	 	 	$	4,048.93	 	 	$	302,881.95	 
	63
	 	02-Apr-08	 	 	10.00	%	 	$	6,606.69	 	 	$	2,524.02	 	 	$	4,082.67	 	 	$	298,799.27	 
	64
	 	02-May-08	 	 	10.00	%	 	$	6,606.69	 	 	$	2,489.99	 	 	$	4,116.70	 	 	$	294,682.58	 
	65
	 	02-Jun-08	 	 	10.00	%	 	$	6,606.69	 	 	$	2,455.69	 	 	$	4,151.00	 	 	$	290,531.57	 
	66
	 	02-Jul-08	 	 	10.00	%	 	$	6,606.69	 	 	$	2,421.10	 	 	$	4,185.59	 	 	$	286,345.98	 
	67
	 	02-Aug-08	 	 	10.00	%	 	$	6,606.69	 	 	$	2,386.22	 	 	$	4,220.47	 	 	$	282,125.50	 
	68
	 	02-Sep-08	 	 	10.00	%	 	$	6,606.69	 	 	$	2,351.05	 	 	$	4,255.65	 	 	$	277,869.86	 
	69
	 	02-Oct-08	 	 	10.00	%	 	$	6,606.69	 	 	$	2,315.58	 	 	$	4,291.11	 	 	$	273,578.75	 
	70
	 	02-Nov-08	 	 	10.00	%	 	$	6,606.69	 	 	$	2,279.82	 	 	$	4,326.87	 	 	$	269,251.88	 
	71
	 	02-Dec-08	 	 	10.00	%	 	$	6,606.69	 	 	$	2,243.77	 	 	$	4,362.93	 	 	$	264,888.96	 
	72
	 	02-Jan-09	 	 	10.00	%	 	$	6,606.69	 	 	$	2,207.41	 	 	$	4,399.28	 	 	$	260,489.67	 
	73
	 	02-Feb-09	 	 	10.00	%	 	$	6,606.69	 	 	$	2,170.75	 	 	$	4,435.94	 	 	$	256,053.73	 
	74
	 	02-Mar-09	 	 	10.00	%	 	$	6,606.69	 	 	$	2,133.78	 	 	$	4,472.91	 	 	$	251,580.82	 
	75
	 	02-Apr-09	 	 	10.00	%	 	$	6,606.69	 	 	$	2,096.51	 	 	$	4,510.18	 	 	$	247,070.64	 
	76
	 	02-May-09	 	 	10.00	%	 	$	6,606.69	 	 	$	2,058.92	 	 	$	4,547.77	 	 	$	242,522.87	 
	77
	 	02-Jun-09	 	 	10.00	%	 	$	6,606.69	 	 	$	2,021.02	 	 	$	4,585.67	 	 	$	237,937.20	 
	78
	 	02-Jul-09	 	 	10.00	%	 	$	6,606.69	 	 	$	1,982.81	 	 	$	4,623.88	 	 	$	233,313.32	 
	79
	 	02-Aug-09	 	 	10.00	%	 	$	6,606.69	 	 	$	1,944.28	 	 	$	4,662.41	 	 	$	228,650.90	 
	80
	 	02-Sep-09	 	 	10.00	%	 	$	6,606.69	 	 	$	1,905.42	 	 	$	4,701.27	 	 	$	223,949.64	 
	81
	 	02-Oct-09	 	 	10.00	%	 	$	6,606.69	 	 	$	1,866.25	 	 	$	4,740.44	 	 	$	219,209.19	 
	82
	 	02-Nov-09	 	 	10.00	%	 	$	6,606.69	 	 	$	1,826.74	 	 	$	4,779.95	 	 	$	214,429.25	 
	83
	 	02-Dec-09	 	 	10.00	%	 	$	6,606.69	 	 	$	1,786.91	 	 	$	4,819.78	 	 	$	209,609.47	 
	84
	 	02- Jan- 10	 	 	10.00	%	 	$	6,606.69	 	 	$	1,746.75	 	 	$	4,859.95	 	 	$	204,749.52	 
	85
	 	02-Feb-10	 	 	10.00	%	 	$	6,606.69	 	 	$	1,706.25	 	 	$	4,900.45	 	 	$	199,849.07	 
	86
	 	02-Mar-10	 	 	10.00	%	 	$	6,606.69	 	 	$	1,665.41	 	 	$	4,941.28	 	 	$	194,907.79	 

Page 2 of 3

 

EXHIBIT B

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Payment	 	Interest	 	 	 	 	 	 	 	 	 	Principal	 	Principal
	Payment #	 	Date	 	Rate	 	Payment  	 	     Interest	 	Portion	 	Balance
	87
	 	02-Apr-10	 	 	10.00	%	 	$	6,606.69	 	 	$	1,624.23	 	 	$	4,982.46	 	 	$	189,925.33	 
	88
	 	02-May -10	 	 	10.00	%	 	$	6,606.69	 	 	$	1,582.71	 	 	$	5,023.98	 	 	$	184,901.35	 
	89
	 	02-Jun-10	 	 	10.00	%	 	$	6.606.69	 	 	$	1,540.84	 	 	$	5,065.85	 	 	$	179,835.51	 
	90
	 	02-Jul-10	 	 	10.00	%	 	$	6,606.69	 	 	$	1,498.63	 	 	$	5,108.06	 	 	$	174,727.44	 
	91
	 	02-Aug-10	 	 	10.00	%	 	$	6,606.69	 	 	$	1,456.06	 	 	$	5,150.63	 	 	$	169,576.82	 
	92
	 	02-Sep-10	 	 	10.00	%	 	$	6,606.69	 	 	$	1,413.14	 	 	$	5,193.55	 	 	$	164,383.26	 
	93
	 	02-0ct-10	 	 	10.00	%	 	$	6,606.69	 	 	$	1,369.86	 	 	$	5,236.83	 	 	$	159,146.43	 
	94
	 	02-Nov-10	 	 	10.00	%	 	$	6,606.69	 	 	$	1,326.22	 	 	$	5.280.47	 	 	$	153,865.96	 
	95
	 	02-Dec-10	 	 	10.00	%	 	$	6.606.69	 	 	$	1,282.22	 	 	$	5,324.47	 	 	$	148,541.49	 
	96
	 	02-Jan-11	 	 	10.00	%	 	$	6,606.69	 	 	$	1,237.85	 	 	$	5,368.85	 	 	$	143,172.64	 
	97
	 	02-Feb-11	 	 	10.00	%	 	$	6,606.69	 	 	$	1,193.11	 	 	$	5,413.59	 	 	$	137,759.06	 
	98
	 	02-Mar-11	 	 	10.00	%	 	$	6,606.69	 	 	$	1,147.99	 	 	$	5,458.70	 	 	$	132,300.36	 
	99
	 	02-Apr-11	 	 	10.00	%	 	$	6,606.69	 	 	$	1,102.50	 	 	$	5,504.19	 	 	$	126,796.17	 
	100
	 	02-May-11	 	 	10.00	%	 	$	6,606.69	 	 	$	1,056.63	 	 	$	5,550.06	 	 	$	121,246.11	 
	101
	 	02-Jun-11	 	 	10.00	%	 	$	6,606.69	 	 	$	1,010.38	 	 	$	5,596.31	 	 	$	115,649.81	 
	102
	 	02-Jul-11	 	 	10.00	%	 	$	6,606.69	 	 	$	963.75	 	 	$	5,642.94	 	 	$	110,006.86	 
	103
	 	02-Aug-11	 	 	10.00	%	 	$	6,606.69	 	 	$	916.72	 	 	$	5,689.97	 	 	$	104,316.90	 
	104
	 	02-Sep-11	 	 	10.00	%	 	$	6,606.69	 	 	$	869.31	 	 	$	5,737.38	 	 	$	98,579.51	 
	105
	 	02-Oct-11	 	 	10.00	%	 	$	6,606.69	 	 	$	821.50	 	 	$	5,785.20	 	 	$	92,794.32	 
	106
	 	02-Nov-11	 	 	10.00	%	 	$	6,606.69	 	 	$	773.29	 	 	$	5,833.41	 	 	$	86,960.91	 
	107
	 	02-Dec-11	 	 	10.00	%	 	$	6,606.69	 	 	$	724.67	 	 	$	5,882.02	 	 	$	81,078.90	 
	108
	 	02-Jan-12	 	 	10.00	%	 	$	6,606.69	 	 	$	675.66	 	 	$	5,931.03	 	 	$	75,147.86	 
	109
	 	02-Feb-12	 	 	10.00	%	 	$	6,606.69	 	 	$	626.23	 	 	$	5,980.46	 	 	$	69,167.40	 
	110
	 	02-Mar-12	 	 	10.00	%	 	$	6,606.69	 	 	$	576.40	 	 	$	6,030.30	 	 	$	63,137.11	 
	111
	 	02-Apr-12	 	 	10.00	%	 	$	6,606.69	 	 	$	526.14	 	 	$	6,080.55	 	 	$	57,056.56	 
	112
	 	02-May-12	 	 	10,00	%	 	$	6,606.69	 	 	$	475.47	 	 	$	6,131.22	 	 	$	50,925.34	 
	113
	 	02-Jun-12	 	 	10.00	%	 	$	6,606.69	 	 	$	424.38	 	 	$	6,182.31	 	 	$	44,743.03	 
	114
	 	02-Jul-12	 	 	10.00	%	 	$	6,606.69	 	 	$	372.86	 	 	$	6,233.83	 	 	$	38,509.19	 
	115
	 	02-Aug-12	 	 	10.00	%	 	$	6,606.69	 	 	$	320.91	 	 	$	6,285.78	 	 	$	32,223.41	 
	116
	 	02-Sep-12	 	 	10.00	%	 	$	6,606.69	 	 	$	268.53	 	 	$	6,338.16	 	 	$	25,885.25	 
	117
	 	02-0ct-12	 	 	10.00	%	 	$	6,606.69	 	 	$	215.71	 	 	$	6,390.98	 	 	$	19,494.27	 
	118
	 	02-Nov-12	 	 	10.00	%	 	$	6,606.69	 	 	$	162.45	 	 	$	6,444.24	 	 	$	13,050.03	 
	119
	 	02-Dec-12	 	 	10.00	%	 	$	6,606.69	 	 	$	108.75	 	 	$	6,497.94	 	 	$	6,552.09	 
	120
	 	02-Jan-13	 	 	10.00	%	 	$	6,606.69	 	 	$	54.60	 	 	$	6,552.09	 	 	$	0.00	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	$	292,866.93	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

Page 3 of 3

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00099-of-00352.parquet"}]]