Document:

Exhibit
10.24

 

AGREEMENT TO COMPENSATE GUARANTORS

 

THIS AGREEMENT is made and
entered into effective this 16th day of February, 2006, by and between Great
Plains Ethanol, LLC (the “Company”) and Robert Broin, Jeff Broin, Todd Broin,
Duane Sather, Fred Thurman, and Dennis Schrag (collectively the “Guarantors”).

 

RECITALS:

 

A.            The Company entered
into a Natural Gas Distribution Delivery Agreement  dated September 2, 2002, with NorthWestern
Energy Corporation (“NEC”).

 

B.            In connection with
the Natural Gas Distribution Delivery Agreement, Home Federal Bank issued an
Irrevocable Standby Letter of Credit dated February 28, 2003, in the amount of
$1,600,000.00 (the “Letter of Credit”) in favor of NEC.

 

C.            The Letter of Credit
was modified and restated pursuant to a First Amended and Restated Irrevocable
Standby Letter of Credit dated May 28, 2003, a Second Amended and Restated
Irrevocable Standby Letter of Credit dated February 25, 2004, in the amount of
$1,250,000.00, a Third Amended and Restated Irrevocable Standby Letter of
Credit dated February 28, 2005, in the amount of $1,125,000.00, and a Fourth
Amended and Restated Irrevocable Standby Letter of Credit dated February 16,
2006, in the amount of $960,000.00.

 

D.            In consideration for
the Letter of Credit, the Company executed a Promissory Note dated February 28,
2003, in the original principal sum of $1,600,000.00 in favor of Home Federal
Bank. The Promissory Note has been amended by written agreement of Home Federal
Bank and the Company each time that the Letter of Credit was amended and
restated. The Promissory Note, as amended, is referred to herein as the “Note.”

 

E.             The Guarantors are
each willing to personally guarantee the Note, as amended, in part, pursuant to
their respective guarantees each dated February 16, 2006.

 

F.             The Company wishes
to provide certain compensation to the Guarantors in consideration for their
agreement to enter into the guarantees.

 

NOW,
THEREFORE, the parties agree as follows:

 

 

1.             In consideration
for each Guarantor’s agreement to provide his personal guarantee to Home
Federal Bank in connection with the Note, as amended, the Company agrees to
compensate each Guarantor in an amount equal to two percent (2%) per annum  of his respective guarantee amount, so long
as he continues to guarantee such Note, as amended.

 

2.             Payment will be
made by the Company to the Guarantors on or before March 31 of each year.

 

3.             This Agreement
constitutes the entire agreement among the parties with respect to compensation
to be paid by the Company to the Guarantors for their guarantees. This
Agreement supercedes any prior negotiations, agreements, or understandings
between the parties with respect to compensation to be paid by the Company to
the Guarantors for their guarantees.

 

	
  GREAT
  PLAINS ETHANOL, LLC

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  Darrin
  Ihnen

  	
   

  	
   

  	
   

  
	
   

  	
  Its:

  	
  President

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  /s/
  Robert Broin

  	
   

  	
   

  	
  /s/
  Jeff Broin

  	
   

  
	
  Robert
  Broin

  	
   

  	
   

  	
  Jeff
  Broin

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/
  Todd Broin

  	
   

  	
   

  	
  /s/
  Duane Sather

  	
   

  
	
  Todd
  Broin

  	
   

  	
   

  	
  Duane
  Sather

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/
  Fred Thurman

  	
   

  	
   

  	
  /s/
  Dennis Schrag

  	
   

  
	
  Fred
  Thurman

  	
   

  	
   

  	
  Dennis
  Schrag

  	
   

  
														

 

2Exhibit 10.25

 

INTEREST
RATE CONVERSION AGREEMENT

(Segmented
Loan Pricing Program)

 

1.               INTENT TO AMEND NOTE. The undersigned Great
Plains Ethanol, LLC. a South Dakota Limited Liability Company (Borrowers) are
liable for payment of a loan (Loan) and owners of properly securing the Loan
from AgCountrv Farm Credit Services, FLCA (Lender), evidenced by a promissory
note (“Note”) dated June 19,
2002 in a face amount of $32,500,000.00, with a maturity date of October 1
, 2013.

 

Borrowers and
Lender amend the repayment terms of the Loan as described in this
Agreement  All other terms and conditions
of the Note, and or agreements amending it, if any, shall continue to apply
except as changed by this Agreement.

 

2.               SEGMENTED PRICING. The Loan shall be
divided into two segments. The existing segment of the Loan in the principal
sum of $16,500,000.00 (“Original Segment”) will remain on Lenders records under
the existing loan number. The newly segmented portion of the Loan in the
principal sum of $10,000.000.00 (“New Segment”) will be recorded on Lender’s
records as Loan No. 7655731000

 

3.               INTEREST RATE Beginning on March 1,
2006 the interest rate for the Original Segment shall initially be 7.21 percent
per year and will change as described in item I below. Beginning on March 1, 2006, the interest rate for the New Segment shall initially be
8.55 percent per year and will change as described in Item D below.

 

A.            VARIABLE INTEREST RATE
— The rate of Interest will vary from time to lime during the remaining
term of the Loan at the option of the Lender.

 

B.            CAPPED VARIABLE
INTEREST RATE — The rate of interest will vary from time to time, but not
to be higher than                    
percentage points through                    ,
             
after which the rate of interest will vary from time to time during the
remaining term of the Loan at the option of the Lender.

 

C.            CAPPED NON-INDEXED
VARIABLE INTEREST RATE — The rate of interest will vary from time to time
during the remaining term of the Loan at the option of the Lender. The Interest
rate is not based on an index. Except in the event of default, the annual rate of interest will not
increase or decrease by more than 6.00% above or below the initial annual rate
of interest set out above on any single change date or during the term of the
Loan.

 

D.            ADJUSTABLE INTEREST
RATE (Administered) — On the first day of March, 2011, the rate of interest
will be adjusted, and on dates occurring at successive intervals of 5 year(s)
each thereafter during the remaining term of the Loan. The rate will not be
increased or decreased prior to said date or during any one of such adjustment
intervals except in the event of default. On said date and at the end of each
such adjustment interval, the rate will automatically adjust to the Adjustable
interest rate then in effect for this class of loan.

 

 

E.              ADJUSTABLE INTEREST
RATE (indexed) — On the first day of                                       ,
                ,
the interest rate will be adjusted, and on dates occurring at successive
intervals of                
years each thereafter during the remaining term of the Loan. The interest rate
will be based upon the index for adjustments. The index for adjustments in the
interest rate is the estimated weekly average available for the one-year bonds
funding cost index as reported by the Federal Farm Credit Banks Funding
Corporation at its Web site, found in the Farm Credit System, Funding Cost
Index, Archive section at http://www.FARMCRED1T-FFCB.com, for that week
which contains the date that is 45 days before the date the interest rate is to
be adjusted. If the date that is 45 days before the date the interest rate is
to be adjusted is not a business day, the Lender shall use that estimated
weekly average for the one-year bonds funding cost index for that week which
immediately precedes the 45-day date. If this index is no longer available, the
Lender will select a new index which is based on comparable information. The
Lender will give the Borrower notice of this choice. The new interest rate will
be calculated by adding                    
percentage points to the current index and rounding the total to the nearest
one-eighth of one percent. On any single adjustment date, the new interest rate
may not increase or decrease the rate that it replaces by more than                    
percentage points. In addition, at no time during the term of the Note may the
interest rate be more than                    
percentage points higher or lower than the initial rate if the Note is not in
default, or more then                          
percentage points plus the default rate higher than the initial rate during
periods of default

 

F.              PRIME BASED INTEREST
RATE — On the first day of each month the interest rate shall be adjusted
by adding a margin or                          
percentage points to the index. This margin shall remain in effect until the
first day of                                       ,
                   ,
at which time Lender may change the margin at its discretion, and Lender may continue
to change the margin at successive intervals of                    
year(s) each thereafter. The index for adjustments is the prime rate reported
on the tenth day of each month preceding the interest rate change date by the
Wail Street Journal in its daily listing of money rates, defined therein as “the
base rate on corporate loans posted by at least 75 percent of the nation’s 30
largest banks.” If a prime rate is not reported on the tenth day of a month,
the prime rate reported on the first business day preceding the tenth day of
the month will be used, if this index is no longer available, Lender will
select a new index which is based upon comparable information.

 

G.            FIXED INTEREST RATE —
The rate of interest will not Increase or decrease except in the event of default.

 

H.            FIXED THEN INDEXED
ADJUSTABLE INTEREST RATE — The initial fixed interest rate will change to
an adjustable interest rate on the first day of                                       ,
                   .
On that date the adjustable interest rate will be initially determined by
adding a margin of                    
percentage points to the then-current index for adjustments and rounding the
total to the nearest one-eighth of one percent. At successive intervals of 1
year(s) each (the “Adjustment interval”) after the date the adjustable interest
rate is initially determined, the interest rate will be adjusted by adding that
same margin to the then-current index for adjustments and rounding the total to the nearest
one-eighth of one percent. Once the interest rate changes to an adjustable
interest rate, the interest rate will be based upon the index for adjustments. The
index for adjustments in the interest rate is the estimated weekly average
available for the one-year bonds funding cost index as reported by

 

2

 

the Federal
Farm Credit Banks Funding Corporation at its Web site, found in the Farm Credit
System, Funding Cost index, Archive section at
http://www.FARMCREDIT-FFCB.com, for that week which contains the date that is
45 days before the date the adjustable interest rate is to be either initially
determined or subsequently adjusted. If the date that is 45 days before either
the date specified above or an Adjustment interval is not a business day, the
Lender shall use that estimated weekly average for the one-year bonds funding
cost index for that week which immediately precedes the 45-day date. If this
index is no longer available, the Lender will select a new index which is based
on comparable information. The Lender will give the Borrower notice of this
choice. On any single adjustment date, the new interest rate may not
increase or decrease the rate that it replaces by more than                    
percentage points. In addition, at no time during the term of the Note may the
interest rate be more than                    
percentage points higher or lower than the initial rate if the Note is not in
default, or more then                    
percentage points plus the default rate higher than the initial rate during
periods of default.

 

I.                 LIBOR BASED
INTEREST RATE — On the first day of each month the interest  rate shall be adjusted by adding a margin of
3.00 percentage points to the index. The margin shall remain in effect until
the first day of June 2006, at which time Lender may change the
margin at its discretion, and Lender may continue to change the margin at
successive intervals of 1 year(s) each thereafter. The index for adjustments is
the One Month London Interbank Offered Rate (“One Month LIBOR”) reported on the
tenth day of the month preceding the Interest rate change date by the Wall
Street Journal in its daily listing of money rates, defined therein as “the
average of interbank offered rates for dollar deposits in the London market
based on quotations at five major banks.” 
If a One Month LIBOR rate is not reported on the tenth day of a month,
the One Month LIBOR rate reported on the first business day, preceding the
tenth day of the month will be used. If this index is no longer available,
Lender will select a new index which is based upon comparable information. Interest
may be based on a 360 or 365-day year as the Lender may determine.

 

Unless the
interest rate for the Loan is a Fixed interest Rate, each time the interest
rate is increased or decreased, the unpaid principal balance shall be subject
to the new increased or decreased rate, as the case may be, and periodic
adjustments to the interest rate will result in corresponding changes in the
amount of installments as provided n the Note or the amount due at maturity if
the Loan is not payable in installments.

 

J.              PRIME INTEREST RATE
(Daily) — On any business day the interest rate shall be adjusted by adding
a margin of                    
percentage points to the index. The margin shall remain in effect for 1 day at
which time Lender may change the margin, and at 1 day intervals thereafter.
The Index for adjustments is the prime rate for the previous business day as
reported by the Wall Sweet Journal in its daily listing of money rates, defined
therein as “the base rate on corporate loans posted by at least 75 percent of
the nation’s 30 largest banks.”  If this
index is no longer available, Lender will select a new index which is based
upon comparable information. Interest shall be calculated on the basis of a
year consisting of 360 days.

 

K.            FED FUNDS INTEREST
RATE (Daily) — On any business day the interest rate shall be adjusted by
adding a margin of                   
percentage points to the index. The margin shall remain in effect for 1 day at
which time Lender may change the margin, and at 1 day intervals thereafter.
The index for adjustments is the Federal Funds Target Rate for the previous
business day as reported by the Federal Reserve as the Intended Federal Funds
Rate

 

3

 

at
http://www.federalreserve.gov/fomc/fundsrate.htm  and defined therein as “the rate at which
depository institutions lend balances at the Federal Reserve to other
depository Institutions overnight.”  If
this index is no longer available, Lender will select a new index which is
based upon comparable information, interest shall be calculated on the basis of
a year consisting of 360 or 365 days as the Lender may determine.

 

L.             BBA LISOR INTEREST
RATE (30) — On any Banking Day (as defined herein) the interest rate shall
be adjusted by adding a margin of                        
percentage points to the index. The margin shall remain in effect for 1 month
at which time Lender may change the margin, and at 1 month intervals
thereafter. The index for adjustments is the rate rounded upward to the nearest
thousandth) for U.S. dollar deposits as of 11:00 a.m. London lime in the
London interbank market as indicated by Moneyline Telerate or such other
service designated by the British Bankers Association (“BBA”) on the day that
is two Banking Days prior to the interest rate change date (“LIBOR”). Banking
Day shall mean a day on which Lender is open for business, dealings in U.S.
dollar deposits are being carried out in the London interbank market, and banks
are open for business in New York City and London, England. The interest rate may be
adjusted on the numerically corresponding day in the next calendar month,
provided, however, that (i) in the event such day is not a Banking Day,
such period shall be extended to the next Banking Day unless such next Banking
Day falls in the next calendar month, in which case it shall end on the
preceding Banking Day; and (ii) if there is no numerically corresponding
day in the month, then such period shall end on the last Banking Day in the
relevant month. If this index is no longer available, Lender will select a new
index which is based upon comparable information, interest shall be calculated
on the basis of a year consisting of 360 days.

 

M.          BBA LIBOR INTEREST RATE
(90) — On any Banking Day (as defined herein) the interest rate shall be
adjusted by adding a margin of                    
percent to the index. The margin shall remain in effect for 3 months at which
time Lender may change the margin, and at 3 month intervals thereafter. The
index for adjustments is the rate (rounded upward to the nearest thousandth)
for U.S. dollar deposits as of 11:00 a.m. London time in the London
interbank market as indicated by Moneyline Telerate or such other service
designated by the British Bankers Association (“BBA”) on the day that is two
Banking Days prior to the interest rate change date (“LIBOR”). Banking Day
shall mean a day on which Lender is open for business, dealings in U.S. dollar
deposits are being carried out in the London interbank market, and banks are
open for business in New York City and London, England. The interest rate may be
adjusted on the numerically corresponding day that is 90 days thereafter,
provided, however, that: (i) in the event such day is not a Banking Day,
such period shall be extended to the next Banking Day unless such next Banking
Day falls in the next calendar month, in which case it shall end on the
preceding Banking Day; and (ii) if there is no numerically corresponding
day in the month, then such period shall end on the last Banking Day in the
relevant month. If this index is no longer available, Lender will select a new
index which is based upon comparable information. Interest shall be calculated
on the basis of a year consisting of 360 days.

 

N.            BBA LABOR INTEREST
RATE (90.10th preceding month) — On any Banking Day (as defined herein) the
interest rate shall be adjusted by adding a margin of percentage points to the
index. The margin shall remain in effect for 3 months at which time Lender may change
the margins, and at 3 month intervals thereafter. The Index for adjustments is
the rate (rounded upward to the nearest thousandth) for U.S. dollar deposits as
of 11:00 am, London

 

4

 

time in the
London interbank market as indicated by Moneyline Telerate or such other
service designated by the British Bankers Association (“BBA”) on the day that
is the tenth day of the month preceding the interest rate change date (“LIBOR”).
Banking Day shall mean a day on which Lender is open for business, dealings in
U.S. dollar deposits are being carried out in the London interbank market, end
banks are open for business in New York City and London, England. The interest
rate may be adjusted on the numerically corresponding day that is 60 days
thereafter, provided, however, that (i) in the event such day is not a
Banking Day, such period shall be extended to the next Banking Day unless such
next Banking Day fails in the next calendar month, in which case it shall end
on the preceding Banking Day. If this index is no longer available, Lender will
select a new index which is based upon comparable information. Interest shall
be calculated on the basis of a year consisting of 300 days.

 

4.              PREPAYMENTS.

 

a)              Except for the loan
or loans identified below, if any. Borrowers may make advance payments in
any amount and at any time without penalty.

 

: Prepayment Interest
Charge on Loan No(s) 7655731000. Borrowers may only make advance payments
subject to the additional conditions specified on the addendum(s) attached to
this Agreement

 

b)             Regardless of the
selection made above, all prepayments shall, at the option of the Lender, (1) be
held by the Lender and then applied to installments of principal and interest
next scheduled to mature in the order of maturity, (2) be immediately
applied to payment of principal then outstanding, resulting in a reamortization
of the remaining balance of the Loan over the remaining term under the existing
payment plan and in a corresponding reduction in the amount of future
installments of principal and interest, or (3) be immediately applied to
payment of principal then outstanding with a corresponding reduction in the
number of future installments of principal and interest in the inverse order of
maturity, thus discharging the Loan at en earlier date; provided, in any event,
the Lender may, at its option, first apply any such prepayment to the payment
of interest accrued to the date of prepayment

b)             Regardless of the
selection made above, all prepayments shall, at the option of the Lender, (1) be
held by the Lender and then applied to installments of principal and interest
next scheduled to mature in the order of maturity, (2) be immediately
applied to payment of principal then outstanding, resulting in a reamortization
of the remaining balance of the Loan over the remaining term under the existing
payment plan and in a corresponding reduction in the amount of future
installments of principal and interest, or (3) be immediately applied to
payment of principal then outstanding with a corresponding reduction in the
number of future installments of principal and interest in the inverse order of
maturity, thus discharging the Loan at an earlier date; provided, in any event,
the Lender may, at its option, first apply any such prepayment to the payment
of interest accrued to the date of prepayment

 

5.              DEFAULT RATE.
Prior to maturity, in the event of default under the terms of the Note or the
instruments securing payment of the Note, the entire unpaid principal balance
of the Loan and all advancements shall bear interest from the date of default
until such default is cured or the Loan is accelerated by reason of default at
the rate or rates equal to the interest rate or rates for the Loan that would
otherwise be in effect during the period of default plus 2.00 percent per annum
(the “default rate”), and the amount of such interest in excess of interest
otherwise accruing in the absence of default shall be immediately due and
payable. At maturity or upon acceleration of the Loan by reason of default as
provided in the Note, the

 

5

 

entire
indebtedness, including all principal, interest and advancements, shall bear
interest until paid at the default rate in effect at the time of maturity or
acceleration, as the casa may be.

 

6.              FINANCIAL
STATEMENTS. Upon request by the Lender, the Borrowers agree to provide a
verifiable balance sheet and income statement, and such other records
specifically required by the promissory note/loan agreement, mortgage, other
security documents, or any amendatory agreement to any of these, in a form acceptable
to the Lender.

 

7.              ASSIGNMENT OF NOTE.
If the Note is assigned or transferred to another institution chartered
pursuant to the Farm Credit Act of 1671, as amended, the interest rate under
the Note may be established by the institution in accordance with this
Agreement and related loan documents. However, upon an assignment or transfer
to a party not chartered under the Act, in the absence of maturity or
acceleration as provided in the Note, the following apply; (a) If
Paragraph 3A, 3B, 3C, 3E, or 3H is selected, then adjustments in the interest
rate will be made only on the dates occurring at successive intervals of one
year each after the first day of the month and year of such assignment based
upon an index and margin. The index will be the weekly average yield on United
States Treasury securities from the Federal Reserve Board, adjusted to a
constant maturity of one year. (b) If Paragraph 3D is selected, the
interest rate will continue to be adjusted on the dates and intervals described
therein based upon an index and margin. The index will be the weekly average
yield on United States Treasury securities from the Federal Reserve Board
adjusted to a constant maturity of a length equal to the length of the interval
between adjustments specified above (if U.S. Treasury yield figures are not
available for this length, the U.S. Treasury yield figures which are available
for the closest length of time which is shorter than the interval between
adjustments will be used). (c) For all interest rate adjustments, the
margin will be the amount by which the interest rate in effect hereunder at the
time of the assignment, in the absence of default, exceeds the index that would
have been effective for the date that this interest rate was established for
the Note (the last previous repricing date). The new interest rate will be
calculated by adding the margin to the applicable current index and rounding
the total to the nearest one-eighth of one percent, subject, however, to the
provision herein for a higher default rate. The current index will be the most
recent index available as of 45 days before the date the interest rate is to be
adjusted. If the applicable index is not available, the Lender will select a
new index which is based upon comparable information. The interest rate shall
never exceed the rate permitted by applicable law.

 

	
  DATED:

  	
  March 1, 2006

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  BORROWERS:

  	
   

  	
  LENDER
  (Named Above)

  
	
   

  	
   

  	
   

  
	
  Great Plains
  Ethanol, LLC, a South Dakota

  	
  By:

  	
  /s/ Randy
  Aberle

  	
   

  
	
  Limited,
  Liability Company,

  	
   

  	
  Authorized
  Representative

  
	
   

  	
   

  	
   

  
	
  /s/ Rick
  Serie

  	
   

  	
   

  	
   

  
	
  RICK SERIE,
  GENERAL MANAGER/CEO

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
								

 

6

 

ADDENDUM TO
INTEREST RATE CONVERSION AGREEMENT

 

For Loan No(s) 7655731000

 

This is an addendum to an Interest Rate
Conversion Agreement dated March 1, 2006 and contains additional terms and
conditions which are a part of the agreement.

 

Not withstanding any provisions or language
contained in the NOTE or any Interest Rate Conversion Agreement or any other
document to the contrary, the Borrowers have no right to make advance payments
of principal without the Lender’s Consent, which the Lender will not grant
except upon the terms and subject to the conditions hereinafter provided. In
order to induce the Lender to agree to accept such advance payments, the
Borrowers agree to pay to Lender a prepayment fee for all such prepayments. The
prepayment fee shall be due and payable for each such advance payment made by
Borrowers, whether made voluntarily or involuntarily, including any prepayment
effected by the Lender’s exercise of the acceleration clause in the Note. The
prepayment fee shall also be due and payable if the Borrowers want to convert
this loan product to another loan product offered by Lender and shall be paid
on the effective date of such conversion.

 

The prepayment fee shall be calculated as
stated in Section 2.11(c) of the Amended and Restated Credit
Agreement dated July 12, 2005 between Lender and Borrower.

 

 

Mortgage Loan
Amortization

 

	
  Term Loan

  	
   

  	
  Current
  Loan

  	
   

  	
  Original
  Loan (If
  Repricing)

  
	
   

  	
   

  	
  $l0,000,000.00
  Loan Amount

  	
   

  	
  $0.00

  	
   Loan Amount

  
	
   

  	
   

  	
  8.55% interest Rate

  	
   

  	
  0.00%

  	
   Interest Rate

  
	
   

  	
   

  	
  7.6 Years Amortization

  	
   

  	
  0

  	
   Years Amortization

  
	
   

  	
   

  	
  4 Payment(s) Per Year

  	
   

  	
  $0.00

  	
   Interest to Repricing Date

  
	
   

  	
   

  	
  I L=Level Payment F=Fixed Principal

  	
   

  	
  $0.00

  	
   Fixed
  Payment (IP Only)

  
	
   

  	
   

  	
  3  1  2006 
  Date interest Starts* (or Repricing Date)

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  4  1  2006 
  First Interest Payment

  	
   

  	
   

  
	
   

  	
   

  	
  4  1  2006 
  First Principal Payment

  	
   

  	
   

  
	
   

  	
   

  	
  10 1 2013  Final
  Payment(Override if a Balloon)

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Total

  	
   

  	
  10,000,000.00

  	
  3,562,301.42

  	
   

  	
  13,562,301.42

  
								

 

	
  Pmnt

  Num

  	
   

  	
  Mn

  	
   

  	
  Date

  Dy Yr

  	
   

  	
  Principle

  Payment

  	
   

  	
  Accrued

  Interest

  	
   

  	
  Total

  Payment

  	
   

  	
  Remaining

  Balance

  	
   

  
	
  1

  	
   

  	
  4

  	
   

  	
  1 2006

  	
   

  	
  236,950.06

  	
   

  	
  73,625.00

  	
   

  	
  310,575.06

  	
   

  	
  9,763,049.94

  	
   

  
	
   

  	
   

  	
  7

  	
   

  	
  1 2006

  	
   

  	
  242,014.67

  	
   

  	
  208,685.19

  	
   

  	
  450,700.06

  	
   

  	
  9,521,035.08

  	
   

  
	
   

  	
   

  	
  10

  	
   

  	
  1 2006

  	
   

  	
  247,187.93

  	
   

  	
  203,512.12

  	
   

  	
  450,700.06

  	
   

  	
  9,273,847.14

  	
   

  
	
   

  	
   

  	
  1

  	
   

  	
  1 2007

  	
   

  	
  252,471.58

  	
   

  	
  196,228,48

  	
   

  	
  450,700.06

  	
   

  	
  9,021,375.57

  	
   

  
	
   

  	
   

  	
  4

  	
   

  	
  1 2007

  	
   

  	
  257,868.16

  	
   

  	
  192,831,90

  	
   

  	
  450,700.06

  	
   

  	
  8,763,507.41

  	
   

  
	
   

  	
   

  	
  7

  	
   

  	
  1 2007

  	
   

  	
  263,380.09

  	
   

  	
  187,319,97

  	
   

  	
  450,700.06

  	
   

  	
  8,500,127.33

  	
   

  
	
   

  	
   

  	
  10

  	
   

  	
  1 2007

  	
   

  	
  269,009.84

  	
   

  	
  181,690.22

  	
   

  	
  450,700.06

  	
   

  	
  8,231,117.49

  	
   

  
	
   

  	
   

  	
  1

  	
   

  	
  1 2008

  	
   

  	
  274,759.92

  	
   

  	
  175,940.14

  	
   

  	
  450,700.06

  	
   

  	
  7,956357.57

  	
   

  
	
   

  	
   

  	
  4

  	
   

  	
  1 2008

  	
   

  	
  280,632.92

  	
   

  	
  170,067.14

  	
   

  	
  450,700.06

  	
   

  	
  7,675,724.65

  	
   

  
	
   

  	
   

  	
  7

  	
   

  	
  1 2008

  	
   

  	
  286,631 .44

  	
   

  	
  164,068.61

  	
   

  	
  450,700.06

  	
   

  	
  7,389,093.21

  	
   

  
	
   

  	
   

  	
  10

  	
   

  	
  1 2008

  	
   

  	
  292,758,19

  	
   

  	
  157,941.87

  	
   

  	
  450,700.06

  	
   

  	
  7,096,335.02

  	
   

  
	
   

  	
   

  	
  1

  	
   

  	
  1 2009

  	
   

  	
  299,015.90

  	
   

  	
  151,684.16

  	
   

  	
  450,700.06

  	
   

  	
  6,797,319.12

  	
   

  
	
   

  	
   

  	
  4

  	
   

  	
  1 2009

  	
   

  	
  305,407.38

  	
   

  	
  145,292.70

  	
   

  	
  450,700.06

  	
   

  	
  6,491,911.76

  	
   

  
	
   

  	
   

  	
  7

  	
   

  	
  1 2009

  	
   

  	
  311,935.44

  	
   

  	
  138,764.61

  	
   

  	
  450,700.06

  	
   

  	
  6,179,976.32

  	
   

  
	
   

  	
   

  	
  10

  	
   

  	
  1 2009

  	
   

  	
  318,603.06

  	
   

  	
  132,096.99

  	
   

  	
  450,700.06

  	
   

  	
  5,861,373.25

  	
   

  
	
   

  	
   

  	
  1

  	
   

  	
  1 2010

  	
   

  	
  325,413.20

  	
   

  	
  125,286.85

  	
   

  	
  450,700.06

  	
   

  	
  5,535,960.05

  	
   

  
	
   

  	
   

  	
  4

  	
   

  	
  1 2010

  	
   

  	
  332,368.91

  	
   

  	
  118,331.15

  	
   

  	
  450,700.06

  	
   

  	
  5,203,591.13

  	
   

  
	
   

  	
   

  	
  7

  	
   

  	
  1 2010

  	
   

  	
  339,473.30

  	
   

  	
  111,226.76

  	
   

  	
  450,700.06

  	
   

  	
  4,864,117.84

  	
   

  
	
   

  	
   

  	
  10

  	
   

  	
  1 2010

  	
   

  	
  346,729.54

  	
   

  	
  103,970.52

  	
   

  	
  450,700.06

  	
   

  	
  4517,388.30

  	
   

  
	
   

  	
   

  	
  1

  	
   

  	
  1 2011

  	
   

  	
  354,140.88

  	
   

  	
  96,559.17

  	
   

  	
  450,700.06

  	
   

  	
  4,163,247.41

  	
   

  
	
   

  	
   

  	
  4

  	
   

  	
  1 2011

  	
   

  	
  361,710.64

  	
   

  	
  88,989.41

  	
   

  	
  450,700.06

  	
   

  	
  3,801,536.77

  	
   

  
	
   

  	
   

  	
  7

  	
   

  	
  1 2011

  	
   

  	
  369,442.21

  	
   

  	
  81,257.85

  	
   

  	
  450,700.06

  	
   

  	
  3,432,094.56

  	
   

  
	
   

  	
   

  	
  10

  	
   

  	
  1 2011

  	
   

  	
  377,339.04

  	
   

  	
  73,361.02

  	
   

  	
  450,700.06

  	
   

  	
  3,054,755.52

  	
   

  
	
   

  	
   

  	
  1

  	
   

  	
  1 2012

  	
   

  	
  385,404.66

  	
   

  	
  65,295.40

  	
   

  	
  450,700.06

  	
   

  	
  2,669,350,86

  	
   

  
	
   

  	
   

  	
  4

  	
   

  	
  1 2012

  	
   

  	
  393,642.68

  	
   

  	
  57,057.37

  	
   

  	
  450,700.06

  	
   

  	
  2,275,708.18

  	
   

  
	
   

  	
   

  	
  7

  	
   

  	
  1 2012

  	
   

  	
  402,056.80

  	
   

  	
  48,643.26

  	
   

  	
  450,700.06

  	
   

  	
  1,873,651.39

  	
   

  
	
   

  	
   

  	
  10

  	
   

  	
  1 2012

  	
   

  	
  410,650.76

  	
   

  	
  40,049.30

  	
   

  	
  450,700.06

  	
   

  	
  1,463,000.63

  	
   

  

 

 

	
  Pmnt

  Num

  	
   

  	
  Mn

  	
   

  	
  Date

  Dy Yr

  	
   

  	
  Principle

  Payment

  	
   

  	
  Accrued

  Interest

  	
   

  	
  Total

  Payment

  	
   

  	
  Remaining

  Balance

  	
   

  
	
   

  	
   

  	
  1

  	
   

  	
  1 2013

  	
   

  	
  419,428.42

  	
   

  	
  31,271.64

  	
   

  	
  450,700.06

  	
   

  	
  1,043,572.21

  	
   

  
	
   

  	
   

  	
  4

  	
   

  	
  1 2013

  	
   

  	
  428,393.70

  	
   

  	
  22,306,36

  	
   

  	
  450,700.06

  	
   

  	
  615,178.50

  	
   

  
	
   

  	
   

  	
  7

  	
   

  	
  1 2013

  	
   

  	
  437,550.62

  	
   

  	
  13,149,44

  	
   

  	
  450,700.06

  	
   

  	
  177,627.89

  	
   

  
	
   

  	
   

  	
  10

  	
   

  	
  1 2013

  	
   

  	
  177,627.89

  	
   

  	
  3,796.80

  	
   

  	
  181,424.68

  	
   

  	
  0.00

  	
   

  

 

This schedule is an estimate of future
billings, and should not be used for making payments or calculating balances.

 

 

Mortgage Loan
Amortization

 

	
  Term Loan

  	
   

  	
  Current
  Loan

  	
   

  	
  Original
  Loan (If Repricing)

  
	
   

  	
   

  	
  $9,777,896.75
  Loan Amount

  	
   

  	
  $0.00

  	
   Loan Amount

  
	
   

  	
   

  	
  7.21% interest Rate

  	
   

  	
  0.00%

  	
   Interest Rate

  
	
   

  	
   

  	
  7.6 Years Amortization

  	
   

  	
  0

  	
   Years Amortization

  
	
   

  	
   

  	
  4 Payment(s) Per Year

  	
   

  	
  $0.00

  	
   Interest to Repricing Date

  
	
   

  	
   

  	
  I L=Level Payment F=Fixed Principal

  	
   

  	
  $0.00

  	
   Fixed
  Payment (IP Only)

  
	
   

  	
   

  	
  3   1  2006 
  Date interest Starts* (or Repricing Date)

  	
   

  	
   

  
	
   

  	
   

  	
  4   1  2006 
  First Interest Payment

  	
   

  	
   

  
	
   

  	
   

  	
  4   1  2006 
  First Principal Payment

  	
   

  	
   

  
	
   

  	
   

  	
  10 1  2013  Final Payment(Override if a Balloon)

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Total

  	
   

  	
  9,777,896.75

  	
  ,893,486.73

  	
   

  	
  12,671,365.48

  
							

 

	
  Pmnt

  Num

  	
   

  	
  Mn

  	
   

  	
  Date

  Dy Yr

  	
   

  	
  Principle

  Payment

  	
   

  	
  Accrued

  Interest

  	
   

  	
  Total

  Payment

  	
   

  	
  Remaining

  Balance

  	
   

  
	
  1

  	
   

  	
  4

  	
   

  	
  1 2006

  	
   

  	
  244,345.61

  	
   

  	
  60,707.16

  	
   

  	
  305,052.77

  	
   

  	
  9,533,551.14

  	
   

  
	
   

  	
   

  	
  7

  	
   

  	
  1 2006

  	
   

  	
  248,749.94

  	
   

  	
  171,84226

  	
   

  	
  420,592.20

  	
   

  	
  9,284,801.21

  	
   

  
	
   

  	
   

  	
  10

  	
   

  	
  1 2006

  	
   

  	
  253,233.65

  	
   

  	
  167,358.54

  	
   

  	
  420,59220

  	
   

  	
  9,031,567.55

  	
   

  
	
   

  	
   

  	
  1

  	
   

  	
  1 2007

  	
   

  	
  257,798,19

  	
   

  	
  162,794.01

  	
   

  	
  420,592.20

  	
   

  	
  8,773,769.36

  	
   

  
	
   

  	
   

  	
  4

  	
   

  	
  1 2007

  	
   

  	
  262,445.00

  	
   

  	
  158,147.19

  	
   

  	
  420,592.20

  	
   

  	
  8,511,324.36

  	
   

  
	
   

  	
   

  	
  7

  	
   

  	
  1 2007

  	
   

  	
  267,175.57

  	
   

  	
  153,416.62

  	
   

  	
  420,592.20

  	
   

  	
  8,244,148.79

  	
   

  
	
   

  	
   

  	
  10

  	
   

  	
  1 2007

  	
   

  	
  271,991.41

  	
   

  	
  148,600.78

  	
   

  	
  420,592.20

  	
   

  	
  7,972,157.37

  	
   

  
	
   

  	
   

  	
  1

  	
   

  	
  1 2008

  	
   

  	
  276,894.06

  	
   

  	
  143,698,14

  	
   

  	
  420,592.20

  	
   

  	
  7,695,263.31

  	
   

  
	
   

  	
   

  	
  4

  	
   

  	
  1 2008

  	
   

  	
  281,885.07

  	
   

  	
  138,707.12

  	
   

  	
  420,592.20

  	
   

  	
  7,413,378.24

  	
   

  
	
   

  	
   

  	
  7

  	
   

  	
  1 2008

  	
   

  	
  286,966.05

  	
   

  	
  133,626.14

  	
   

  	
  420,592.20

  	
   

  	
  7,126,412.19

  	
   

  
	
   

  	
   

  	
  10

  	
   

  	
  1 2008

  	
   

  	
  292,138.62

  	
   

  	
  128,453.58

  	
   

  	
  420,592.20

  	
   

  	
  6,834,273.57

  	
   

  
	
   

  	
   

  	
  1

  	
   

  	
  1 2009

  	
   

  	
  297,404.41

  	
   

  	
  123,187.78

  	
   

  	
  420,592.20

  	
   

  	
  6,536,869.16

  	
   

  
	
   

  	
   

  	
  4

  	
   

  	
  1 2009

  	
   

  	
  302,765.13

  	
   

  	
  117827.07

  	
   

  	
  420,592.20

  	
   

  	
  6,234,104.03

  	
   

  
	
   

  	
   

  	
  7

  	
   

  	
  1 2009

  	
   

  	
  308,222.47

  	
   

  	
  112,369.73

  	
   

  	
  420,592.20

  	
   

  	
  5,925,881.56

  	
   

  
	
   

  	
   

  	
  10

  	
   

  	
  1 2009

  	
   

  	
  313,778.18

  	
   

  	
  106,814.02

  	
   

  	
  420,592.20

  	
   

  	
  5,612,103.38

  	
   

  
	
   

  	
   

  	
  1

  	
   

  	
  1 2010

  	
   

  	
  319,434.03

  	
   

  	
  101,158.16

  	
   

  	
  420,592.20

  	
   

  	
  5,292,669.34

  	
   

  
	
   

  	
   

  	
  4

  	
   

  	
  1 2010

  	
   

  	
  325,191.83

  	
   

  	
  95,400.36

  	
   

  	
  420,592.20

  	
   

  	
  4,967,477.51

  	
   

  
	
   

  	
   

  	
  7

  	
   

  	
  1 2010

  	
   

  	
  331,053.41

  	
   

  	
  89,538.78

  	
   

  	
  420,592,20

  	
   

  	
  4,636,424.10

  	
   

  
	
   

  	
   

  	
  10

  	
   

  	
  1 2010

  	
   

  	
  337,020.65

  	
   

  	
  83,571.54

  	
   

  	
  420,592,20

  	
   

  	
  4,299,403.45

  	
   

  
	
   

  	
   

  	
  1

  	
   

  	
  1 2011

  	
   

  	
  343,095.45

  	
   

  	
  77,496.75

  	
   

  	
  420,592.20

  	
   

  	
  3,956,308.00

  	
   

  
	
   

  	
   

  	
  4

  	
   

  	
  1 2011

  	
   

  	
  349,279.74

  	
   

  	
  71,312.45

  	
   

  	
  420,59220

  	
   

  	
  3,607,028.26

  	
   

  
	
   

  	
   

  	
  7

  	
   

  	
  1 2011

  	
   

  	
  355,575.51

  	
   

  	
  65,016.68

  	
   

  	
  420,59220

  	
   

  	
  3,251,452.75

  	
   

  
	
   

  	
   

  	
  10

  	
   

  	
  1 2011

  	
   

  	
  361,984.76

  	
   

  	
  58,607.44

  	
   

  	
  420,592.20

  	
   

  	
  2,889,467.99

  	
   

  
	
   

  	
   

  	
  1

  	
   

  	
  1 2012

  	
   

  	
  368,509.54

  	
   

  	
  52,082.66

  	
   

  	
  420,592.20

  	
   

  	
  2,520,958.45

  	
   

  
	
   

  	
   

  	
  4

  	
   

  	
  1 2012

  	
   

  	
  375,151.92

  	
   

  	
  45,440.28

  	
   

  	
  420,592.20

  	
   

  	
  2,145,806.53

  	
   

  
	
   

  	
   

  	
  7

  	
   

  	
  1 2012

  	
   

  	
  381,914.03

  	
   

  	
  38,678.16

  	
   

  	
  420,592.20

  	
   

  	
  1,763,892.50

  	
   

  
	
   

  	
   

  	
  10

  	
   

  	
  1 2012

  	
   

  	
  388,798.03

  	
   

  	
  31,794.16

  	
   

  	
  420,592.20

  	
   

  	
  1,375,094.46

  	
   

  
	
   

  	
   

  	
  1

  	
   

  	
  1 2013

  	
   

  	
  395,806.12

  	
   

  	
  24,786.08

  	
   

  	
  420,59220

  	
   

  	
  979,288.35

  	
   

  

 

 

	
  Pmnt

  Num

  	
   

  	
  Mn

  	
   

  	
  Date

  Dy Yr

  	
   

  	
  Principle

  Payment

  	
   

  	
  Accrued

  Interest

  	
   

  	
  Total

  Payment

  	
   

  	
  Remaining

  Balance

  	
   

  
	
   

  	
   

  	
  4

  	
   

  	
  1 2013

  	
   

  	
  402,940.52

  	
   

  	
  17,651.67

  	
   

  	
  420,59220

  	
   

  	
  576,347.82

  	
   

  
	
   

  	
   

  	
  7

  	
   

  	
  1 2013

  	
   

  	
  410,203.53

  	
   

  	
  10,388.67

  	
   

  	
  420,592.20

  	
   

  	
  166,144.30

  	
   

  
	
   

  	
   

  	
  10

  	
   

  	
  1 2013

  	
   

  	
  166,144.30

  	
   

  	
  2,994.75

  	
   

  	
  169,139.05

  	
   

  	
  0.00

  	
   

  

 

This schedule is an estimate of future
billings, and should not be used for making payments or calculating balances.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00101-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00101-of-00352.parquet"}]]