HomeMy WebLinkAboutOrd 3100 04/21/1981 (2) ORDINANCE NO. 3100
ORDINANCE authorizing the issuance of its
$2,600,000 principal amount Economic Development
Revenue Bond (K mart Corporation Project);
authorizing the execution and delivery of a
Loan Agreement by the Village of Mount Prospect,
Illinois; authorizing execution and delivery
of an Indenture of Trust securing said bond;
and confirming sale of said bond to the purchaser
thereof, and related matters.
WHEREAS, the Village of Mount Prospect, Illinois (the
"Municipality") is authorized pursuant to the Home Rule provisions
of the 1970 Illinois Constitution and the provisions of Ordinance
No. 2925 adopted July 17, 1979 and Ordinance No. 2929, adopted on
August 7, 1979 (the "Enabling Ordinance") to issue revenue bonds
to defray in whole or in part the costs of economic development
projects and to enter into leases or other agreements with any
person in order to secure the Municipality's revenue bonds, provided,
however, that any such lease or other agreement must provide that
such person shall pay to, for or on behalf of the Municipality an
amount sufficient to pay principal, interest, redemption premium,
if any, and all other costs in connection with the Municipality's
revenue bonds; and
WHEREAS, one of the purposes of the Ordinance is to
provide a financing device which will aid in financing the cost
projects in order to relieve conditions of unemployment and to
encourage the increase and retention of industry and commerce
within the municipality, thereby reducing the evils attendant upon
unemployment and to provide for the increased welfare and prosperity
of the residents of the Municipality; and
WHEREAS, the Municipality has made the necessary arrange-
ments with Maisel & Associates of Michigan, a general partnership
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rganized and existing under the laWs of the State of Michigan
(the "Borrower"), for the permanent financing of construction of a
retail department store facility, on land leased by the Borrower
in the Village of Mount Prospect, Illinois (the "Project") such
Project to be leased by the Borrower to K mart Corporation pursuant
to a Lease dated June 15, 1978, as amended (the "Lease"); and
WHEREAS, the location of the Project.in the Village of
Mount Prospect, Illinois will promote the aforesaid purposes of
the Enabling Ordinance; and
WHEREAS, it is proposed to pay the costs of the Project
through the issuance of a revenue bond pursuant to the provisions
Of the Enabling Ordinance; and
WHEREAS, in order to expedite the anticipated public
benefits and avoid the delays which would otherwise occur pending
the completion of the procedures necessary to be carried out by
the Municipality to make the required funds available, the Borrower
has completed construction of the Project; and
WHEREAS, the aggregate cost of the Project has been de-
termined to be not less than $2,600,000 and it is necessary and
advisable that provisions be made for the issuance of the $2,600,000
principal amount Economic Development Revenue Bond (K mart Corpora-
tion Project) (the "Bond") of the Municipality, as authorized and
permitted by the Enabling Ordinance; and
WHEREAS, the Municipality proposes to lend the proceeds
of the Bond to the Borrower pursuant to a Loan Agreement dated as
of April 1, 1981 (the "Loan Agreement"); and
WHEREAS, the loan of the proceeds of the Bond will be
further evidenced by a Note in the amount of $2,600,000 from the
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orrower to the Municipality, dated as of April 1, 1981 (the
"Note"), the form of which is set forth as Exhibit I to the Loan
Agreement; and
WHEREAS, the Bond will be further secured by a Mortgage
and Assignment of Lease on the Project dated as of April 1, 1981
(the "Mortgage") from the Borrower, as Mortgagor, to the
Municipality, as Mortgagee; and
WHEREAS, the Municipality proposes to issue and sell the
Bond in order to pay the costs incurred in connection with the
acquisition and construction of the Project as aforesaid and the
Bond will be issued under the terms of an Indenture of Trust dated
as of April 1, 1981 (the "Indenture"), between the Municipality
and Oak Park Trust & Savings Bank, Oak Park, Illinois, (the "Trustee");
and pursuant to a Disposition Agreement dated as of April 1, 1981
by and among the Municipality, the Trustee and K mart Corporation;
and
WHEREAS, pursuant to the Indenture, the Municipality
shall assign to the Trustee all of the Municipality's right, title
and interest in and to the Loan Agreement, the Note, the Lease and
the Mortgage, as security for the Bond; and
WHEREAS, the Municipality has caused to be prepared and
the President and Board of Trustees of the Municipality have
approved the following documents, which the Municipality proposes
to enter into:
i. The form of the Loan Agreement (including the form
of Note attached thereto as Exhibit I); and
2. The form of Mortgage and Assignment of Lease;
3. The form of the Indenture setting forth terms and
conditions of the Bond; and
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. The form of the Di~p0sitiOn Agreement; and
WHEREAS, it appears that each of the instruments above
referred to, is in appropriate form and is an appropriate instrument
to be executed and delivered by the President and the Village
Clerk for the purposes intended:
NoW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND THE
BOARD OF TRUSTEES OF THE VILLAGE OF MOUNT PROSPECT, COOK COUNTY,
ILLINOIS, AS FOLLOWS:
Section 1. The Memorandum of Agreement as amended from
time to time by and between the Municipality and the Borrower is
hereby found to be in the best interests of the Municipality and
is in all respects approved, ratified and confirmed.
Section 2. The acquisition and construction of the
Project by the Borrower and the lending of the proceeds of the
Bond to the Borrower as hereinafter provided is hereby authorized
and determined to be in the public interest and for a public
purpose, namely, to relieve conditions of unemployment and to
encourage the increase and retention of commerce and industry
within the Municipality, thereby reducing the evils attendant upon
unemployment and to provide for the increased welfare and prosperity
of the residents of the Municipality.
Section 3. For the purpose of paying the costs incurred
by the Borrower in connection with the acquisition and construction
of the Project, including necessary expenses'incidental thereto,
there is hereby authorized to be issued the revenue bond of the
Municipality in the principal amount of $2,600,000, which bond
shall be designated "Economic Development Revenue Bond (K mart
Corporation Project)" (the "Bond"), and shall be payable as to
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rincipal and interest in lawful m6h~y of the United States of
America at the principal office of the Trustee under the provisions
of the Indenture.
The Bond shall be issued as a fully registered bond in
the amount of $2,600,000; shall be executed on behalf of the
Municipality by the President and attested by the Village Clerk by
their respective manual signatures; shall have the official seal
of the Municipality impressed thereon; and shall be authenticated
by the Trustee.
The Bond shall be dated April 1, 1981; and shall bear
interest on the unpaid balance from April 1, 1981 at the rate of
ten and one-half percent (10-1/2%) per annum, payable monthly
commencing May 1, 1981 with level payments of principal and interest
in installments as set forth in Exhibit A attached hereto.
The Bond may be prepaid on any interest payment date in
the event the Borrower shall exercise its option or shall be
obligated to prepay the Note and cause the Bond to be prepaid upon
the occurrence of an event specified in (a), (b), (c) or (d) of
Section 3.2 of the Loan Agreement (relating to damage or destruction,'
condemnation, impossibility of performance, governmental orders
preventing normal operations, event of taxability, termination of
the Lease, or excess Bond proceeds). If called for prepayment in
such event, the Bond shall be subject to prepayment by the Municipal-
ity on any ~nterest payment date, in whole, but (except with
excess Bond proceeds) not in part, at a prepayment price equal to
100% of the principal amount of the Bond to be__prepaid, plus
accrued interest to the date of prepayment and without premium.
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The Bond shall also be subject to prepayment by the
Municipality prior to maturity on any interest payment date on or
after May 1, 1986 in whole or in part in the event the Borrower
shall exercise its option to prepay the Note in whole or in part
pursuant to Section 3.3 of the Loan Agreement. If called for
prepayment in such event, the Bond shall be subject to prepayment
at 100% of the principal amount of the Bond to be so prepaid, plus
accrued interest to the date of prepayment and with a premium as
set forth in the form of Indenture now before this meeting.
Section 4. The Bond shall be a limited obligation of
the Municipality payable solely out of the revenues and receipts
to be derived from the Loan Agreement, the Mortgage, the Lease and
the Note. No holder of the Bond shall ever have the right to
compel any exercise of the taxing power of the Municipality to pay
the Bond or the interest or premium, if any, thereon and the Bond
shall not constitute an indebtedness of the Municipality or a loan
of credit thereof within the meaning of any constitutional or
statutory provision. It shall be plainly stated on the face of
the Bond that it has been issued under the provisions of the
Enabling Ordinance and that it does not constitute an indebtedness
of the Municipality or a loan of credit thereof within the meaning
of any constitutional or statutory provisions.
Nothing in this Bond Ordinance, the Loan Agreement, the
Note, the Mortgage, the Assignment of Lease, the Lease the Indenture
or the Disposition Agreement shall be construed as an obligation
or commitment by the Municipality to expend any of its funds other
than (i) the proceeds of the sale of the Bond, (ii) the revenues
and receipts to be derived from the Loan Agreement, the Mortgage,
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he Assignment of Lease, the Lease or the Note, and (iii) any
moneys arising out of the investment or reinvestment of said
proceeds, rents, revenues or moneys.
Section 5. The Bond, the Trustee's authentication and
the assignment form thereon shall be in substantially the forms
set forth in the Indenture, with necessary or appropriate variation,
omissions and insertions as permitted or required by the Indenture.
Section 6. The Bond shall be issued in compliance with
and under the authority of the provisions of the Enabling Ordinance,
this Bond Ordinance and the Indenture.
Section 7. It is hereby found, determined and declared
by the President and Board of Trustees that the amounts payable
under the Loan Agreement and the Note are the amounts necessary in
each year to pay the principal of and interest on the Bond and
that the payments and other monetary obligations undertaken by the
Borrower in the Loan Agreement and the Note are sufficient to
satisfy the obligations required by the Enabling Ordinance to be
undertaken by the Borrower.
Section 8. The form, terms and provisions of the proposed
Indenture be, and they hereby are, in all respects approved, and
the President and the Village Clerk be, and they are hereby authorized,
empowered and directed to execute, acknowledge and deliver the
Indenture in the name and on behalf of the Municipality, and
thereupon to cause the Indenture to be executed, acknowledged and
delivered to the Trustee therein named, and the Indenture shall
constitute a lien on and an assignment of the..amounts payable by
the Borrower under the Loan Agreement, the Note and the Mortgage
and the Assignment of Lease. The Indenture, as executed and
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elivered, shall be in substantially the form now hereby approved,
or with such changes therein as shall be approved by the officers
of the Municipality executing the same, their execution thereof to
constitute conclusive evidence of their approval of any and all
changes or revisions therein from the form of Indenture now before
this meeting; and from and after the execution and delivery of the
Indenture, the officers, agents and employees of the Municipality
are hereby authorized, empowered and directed to do all such acts
and things and to execute all such documents as may be necessary
to carry out and comply with the provisions of the Indenture as
executed.
Section 9. The form, terms and provisions of the proposed
Loan Agreement and the Disposition Agreement be, and they hereby
are, in all respects approved, and the President and the Village
Clerk be, and they are hereby authorized, empowered and directed
to execute, acknowledge and deliver the Loan Agreement in the name
and on behalf of the Municipality. The Loan Agreement and the
Disposition Agreement as executed and delivered, shall be in
substantially the form now hereby approved, or with such changes
therein as shall be approved by the officers of the Municipality
executing the same, their execution thereof to constitute conclusive
evidence of their approval of any and all changes or revisions
therein from the form of Loan Agreement now before this meeting;
and from and after the execution and delivery of the Loan Agreement
the officers, agents and employees of the Municipality are hereby
authorized, empowered and directed to do all such acts and things
and to execute all such documents as may be necessary to carry out
and comply with the provisions of the Loan Agreement as executed.
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Section 10. The form, terms and provisions of the
Mortgage and Assignment of Lease are hereby approved.
Section 11. The sale of the $2,600,000 principal amount
Bond to Oak Park Trust & Savings Bank, Oak Park, at a price of par
plus accrued interest from April 1, 1981 to the date of delivery .
is hereby approved.
Section 12. The President and Village Clerk, for and on
behalf of the Municipality, be and they are hereby authorized and
directed to do any and all things necessary to effect the execution
and delivery of the Loan Agreement, the Disposition Agreement, the
Mortgage, the Assignment of Lease and the Note by the Borrower,
the execution and delivery of the Indenture'and acceptance thereof
by the Trustee, the performance of all other obligations of the
Municipality under and pursuant to the Loan Agreement, the
Disposition Agreement, the Note, the Mortgage, the Assignment of
Lease, and the Indenture, the execution and delivery of the Bond,
and the performance of all other acts of whatever nature necessary
to effect and carry out the authority conferred by the Enabling
Ordinance, this Bond Ordinance, the Loan Agreement, the Disposition
Agreement, the Note, the Mortgage, the Assignment of Lease and the
Indenture. The Presiden~ and Village Clerk be, and they are
hereby, further authorized and directed for and on behalf of the
Municipality, to execute all papers, documents, certificates and
other instruments that may be required for the carrying out of the
authority conferred by the Enabling Ordinance, this Bond Ordinance,
the Loan Agreement, the Disposition Agreement, the Note~, the
Mortgage, the Assignment of Lease and the Indenture, or to evidence
the said authority and its exercise, including without limitation
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uch assignments, Uniform Commercial Code financing statements,
closing certificates, and an arbitrage certificate. The President
is hereby designated an appropriate official to sign the arbitrage
certificate with respect to the Bond.
Section 13. The Village of Mount Prospect hereby elects
to have the provisions of Section 103(b)(6)(D) of the Internal
Revenue Code of 1954, as amended, apply to the hereinabove described
issue of economic development revenue bonds.
Section 14. The provisions of this Bond Ordinance are
hereby declared to be separable and if any section, phrase or
provision shall for any reason be declared to be invalid, such
declaration shall not affect the validity of the remainder of the
sections, phrases and provisions.
Section 15. All resolutions and ordinances and parts
thereof in conflict herewith are hereby repealed to the extent of
such conflict.
Section 16. This Bond Ordinance shall take effect
immediately upon its adoption.
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It was thereupon moved by Trustee Richardson and seconded
by Trustee Floros t~ the foregoing ordinance be adopted. Upon
roll being called, the following voted:
Aye: T~ustees Farley· Floros, .Murauskis, Richardson and
Wattenberg
Nay: None
Absent: Miller
Adopted: April 21
Approved: .April 21
· 1981
· 1981
Presiden~
( SEAL )
Attest:
(Other Business)
Upon motion duly seconded and voted, the Board of
Trustees adjourned.
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TATE OF ILLINOIS
COUNTY OF COOK
I, Carol A. Fields hereby certify that I am the duly
qualifed and acting Village Clerk of the Village of Mount Prospect,
Illinois and as such official I further certify that attached
hereto is a copy of an excerpt from the minutes of the meeting of
the Board of Trustees of said Village of Mount Prospect, Illinois
held on April 21 , 1981; that I have compared said copy with
the original minute record of said meeting in my official custody;
that said copy is a true, correct and complete transcript from
said original minute record insofar as said original record relates
to the $2,600,000 principal amount Economic Development Revenue
Bond (K mart Corporation Project) of the Village of Mount Prospect,
Illinois dated April 1, 1981 (the "Bond Ordinance"); and that as
of the date hereof the attached Bond Ordinance is still in full
force and effect and has not been amended, repealed or rescinded.
I further certify that in accordance with the require-
ments of Ch. 102, Illinois Revised Statutes, Section 41 et seq.,
public notice of the regular dates, times and places of the regu-
lar meetings of the Board of Trustees of the Village of Mount
Prospect, Illinois was given at the beginning of the 1981 calendar
or fiscal year of the Village of Mount Prospect, Illinois by
posting a copy of such notice at the principal office of the Board
of Trustees, namely at Village Hall ,
Mount Prospect, Illinois, and by supplying~-copies of such notice
to any local newspaper of general circulation or any local radio
or television station that has filed an annual request for such
notice.
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I further certify that all meetings of the Board of
Trustees concernin9 the $2,600,000 Economic Development Revenue
Bond (K mart Corporation Project) were held at times and places
convenient to the public and specified in the notice regarding
said meetings, and that said meetings were public meetings.
W~ my official signature and seal of the Village of
Mount Prospect, Illinois this 2.7 day of April , 1981.
Village Cler)%
(SEAL)
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LOAN
NUMBER
0Z40~8 T9~,47'~ $ 24 635 J45 10',500 % $ 2 600 000 JO0
~ENI PAYMENT oN TOTAL BALANCE
DATE
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b 22 666 ]06 10--1--81 i 969 J39 24 635J65 2 588 436193
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7 ~2 b~8182 ~11-1-81 I 98~ ~
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10 22 596'm22 Z-1-82 2 039~23 24 635',65 2 580 385J52
14 22523J90~ 6-I-82 2 111J55 24 055t45 2572 048J58
15 22 ~05,43 7-1-82 2 130102 24 635J~5 2 569 918J5b
L6 22 ~86~79 8-1-82 2 14~J66 2q 635~45 2 567 769J90
17 22467~99 9--1-82 216746 Z46~5,45 2565 b02J44
19 22 429J89 11-1-82 2 205~56 26 635J45 2 561 210J45
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20 22 410~,5~ 12-1-82 2 22~J86 Z4 6~5',45 2 558 985J59
21 22 391 ~
22 22371J~9 2-1--83 2263{96 24635m~45 2 55~ ~77J30
',45 2 552
23 22351',68 3-1-83 2283177 2q 635I ,
24 22 331169 4-1--83 2 303J76 24 6351165 2 5~9
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27 22 27016~ 7-1-83 2 36~176 24 63.5145 2 5~2 856185
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28 22250'*00 8-1-83 2385{45 24 b35J45 25~0
29 22229J12 9-1-83 240bj33 24 b35J45 2538065J07
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30 22208~0710-1-83 2 ~27J38 2~ 635J45 2535637169
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31 22 186 83 11--1-83 2 ~481621 24 635ml451 2 533 189J07
32 2216516012-1-83 2470J05 24635~45 '25307Lg~OZ
3J 22 1~3J79 1-1-84 2 ~91J66 24 &35J~5 2 528 227J36
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3~ 22121',99 2-1-86 2513J~6 24635J45 2525713190
35 22 10DJ00 3-1--8~ 2 53514D 24 635J45 2 523 178J~5
3~ 22 077J81 6-1-84 2 557J64 24 6351q5 2 520
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I.' (.') U ~ "J' . ~Y~ ~v~ER NAME / ~ LOAN NUMBER__
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024088 194~-7Y $ 24 635 J45 t01500 % $ 2 bOO 000~00
PAYMENT PAYMENT ON TOTAL BALANCE
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~0 21 987111 8-1-84 2 668J3~ 2~ 635J~5 2 510 16~1~
~i 21 963J9~ 9-I-84 Z 671J51 2~ 635Jq5 2 507 ~92J98~
43 21 916~98111-1-86 2 718147 24 695145 ~ 502
079 ~ 62
~6 21 845100 2-1-85 2 790J~5 2~ 635',45 2 493 780J67~
~7 21 820J58 3-1-85 2 81~J87 24 635165 2 ~90 965J80
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49 21 771 111 5--1-65 2 864134 24 635~45 2 485 Z61J.96
50 21 746J04 6-1--85 2 889141 26 635J45 2 482 372J55~
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51 21 720 J76 ?-1-85 2 914J69 2~ 635J45 2 ~79 457J86
52 21 695~26 8-1-85 2 9q0J19 24 6351,45 2 ~76 517J67~
53 2i 669~53 g-1-85 2 gbSJgZ 26 635J45 2 413 551175
187 2~ 635145 2 ~1o 559188
5~ 21 643',58 1~1-85 2 991~
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J~5 2 461 426J27
57 21 5~J35 1-1--86 3 07/ilO 26 ~35, ,
58 21 537J48 2-1-86 3 097{97 24 b351145 2 458 328J30
J65 2 ~55 203J22
59 21 510',37~ B--1-86 3 125108~ 24 b35!
60 21 ~83',0B 4-1-86 3 152J.42 24 635'~45 2 452 050J80
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63 21 399~155 7-1-86 3 235J90~ 24 b35J45~ 2 ~42 ~27J06, ,
~ 6~J21_ J85
64 21 37I ~2~ 8-1-86 3 2 24 b35J45 2 439 162~
65 21 342J67 9-1-86 3 292 78 24 635J45~ 2 ~35 870J07
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69 21 225191 1-1-87 3 409~54: 2~
70 21 196',07 2-1-87 3 639'
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71 21 165198 3--1-87 3 669147 24 635 45 Z ~15 ~99J~7
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PAYMENT PAYMIE~T ON '[OTAI BALANCE
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74 21 07~[11 6-1-87 ~ 5b1{34 2~ 6~65 2 ~0~ 907[85
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~1 20 850116,' 1-1-gU 3 785]29 2~ 6551~5 2 379 090{~7
84 20 749~93 q-l-aa B 885~5z 26 b35}q5 2 3~7
65 20 715~93 5-1-88 3 919~52 2q 635'~45 2 363 615}20
90 20 541~42 10-1-88 4 094~03 2W b35~,45 2 343 697{11
91 20 505'~60 11-1--86 ~ 129~85 2q 635~5 2 339 367~26
92 20 ~69[~6 12-1-88 4 165199 2q 635~'5~ 2 335
93 20 ~33 JO1 1-/-89 4 202~4~ Z4 635~45 2 330 998183
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9~ 20 396~2~ Z-1-89 ~ 239~21 gq 6~5~45 2 326 759~62
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~ 95 20 359~t15 3-1-89 ~ 276~30 Z4 o35~45 2 322 483{32
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96 20 321 J73 4-1-89 4 313~,72 Z4 635145 Z 318 169~60
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98 20 245{91 6-1-89 4 389{5~ 2~ 6351q5 2 309 ~28~59
99 20 207i, 50 7-1-89 ~ 427~95 Z4 6351165 2 305 000~66
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100 20 168l:76 8-1-89 4 466~69 24 635~65 2 300 533]95
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101 20 129167 9-1--89 q 505[78 2~ 635~45 2 296 028~17
102 20 090',25 10-1-89 4 545120 24 b35145 2 Zgl
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104 20 010'156 12-1-89 4 625~09 24 635~5 2 282 27Z~91
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105 - 19 969',89 1-1-90 4 665{56 24 635~q5 2 277 607135
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I 106 19 929 [06 2-1--90 4 706{39 24 635[i5 2 272 900{96'
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I I I I
IOMER NAME ? .LOAN NUMBE~ . ,
02~,0~8 T9447g $ 2~ 635 'i~5 10'500 % $ 2 600 OOO
PAYMENT PAYMENT ON TOTAL BALANCE
109 19 804 ~.4 5-1-90 4 831101 24. 63514.5 2 258 533127
110 19 702 117 6-1-90 4 873128 2½ 635145 2 253 659[99
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11~ 19 599135 10-1-90 5 046~10 Z4 635',45 2 233 73blo9
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117 19 ~5~ 1-1-91 5 179:72 24 63~45 2 218 331~3
I18 19 410~40 2-1-91 5 225~05 24 63D~t45 2 213 106~88
[ 123 19 177 ~77[ 7-1-91 5 iSIlbS 24 635]45 2 186 287181
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124 19 IBOI02[ 8-1-91 5 505,q3 24 6B5',45 2 180 782138
125 19 081:85 %1-91 5 553~60 24 63~45 2 175 228{78
128 18 934,78 12-1-91 5 700167 2~ 635145 2 158 276{69
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129 18 884'~90 1-1-92 5 750~55 24 635~45 2 152 524~14
130 18 83~59 2--1-92 5 800]86 24 6B5:45 2 146 T23~28
131 18 ~83~8) 3--1-92 5 851{62 Z4 635~45 2 140 871~66
132 18 732163 4-1-92 5 902182 2q ~35{45 2 134
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133 18 680198 5-1-92 ' 5 954~47 24 6351,~5 2 129
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13~ 18 62818S 6-1-91 6 006[57 Z4 635145 2 123 007180
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136 18 523,130 8-1-92 6 112115, 24 6351,45, 2 IlO 836152,
137 lB 469,82 9-1-92 6 105~6~ 24 63b',45 2 104 670189
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139 18 361~45 11-1-92 6 274~00~ 24 b35145~ Z 092 177131
140 18 306~55 12-1.-92 6 328~90 24 635~45 . 2 085 8~8~41
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141 18 251117 1-1-93 6 384128 .24 635145 2 079 664~13
1~2 18 195~31 2--1-93 6 440~14 24 635{45 2 073 023~99
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143 18 138{96 3-1-93 6 496{49 24 635~45 2 066 527[50
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I I I I
I I I I
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I I I I
PA~MEN1 .... J ~--- PAYMENT ON
~ ...... ? ;~ ~ .-_ . TOTAL ~ BALANCE
1~,b 18 024i77 5-1-93 6 610J68 24 6351q5 Z 053 363J~9
~ ~7 908158 7-1-~3 6 726J87 24 6351~5 2 039 968110
~ 17 849172 8-l-93 6 785J73 24 635'~q5 2 033 182J37
1~9 17 ~g0J35 9-[-93 6 845J10 24 635165 2 026 33712~
151 17 670~03 11-1-93 6 965J~2 2~ 635~65 2 0[2 466J85
152 17609i0812-1-93 7026J37 24635J45 2005
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162 16969{50'10-1-94 7 665iY5 2q 635J45' 1931705J06
163 16902 ',~2 11-1-94 7733103 2~ 635145 I 923972J03
16~ 16 83~176 12-1-94 7800{69 2~ 635145 1916
165 16 ?66{50 1-1-95 ? 868[95 2~ 635145 I 908
166 16 697;J65 2-1-95 79371801 2q 635{45~ 1900
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16~ 16 558J13 4-1-95 B 077J32 21 635{45 I 884 280J01
169 16 487145 ~1-95 8 148J00 2~ 635{~5 I 876 132~01
170 16416J16 6-1-95 8219J29 24635{~5 1867 912J72
171 16 3~,24 7-1-95 8 291JZ1 21 635J~5 I 859
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177 15 899J31 1-1~96 8 736[14 24 635J45 I 808 328{30
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181 15 589 i51 5'1-96 9 045194 24. 635145 I 77Z 612 162
182 15 510'~36 6-1-96 9 125J09 24 635145 1 763 487J53
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192 14 679t173 4-1-97 9 g55{72 24 6351145 1 667 72/'1187
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SCHEDULE OF DIRECT REDUCTION LOAN
CUSTOM[ R NAME LOAN NUMBER
PAYMENT PAYMENT ON TOTAL BALANCE
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