1
EXHIBIT 10.13
FIRST AMENDMENT TO NET INDUSTRIAL LEASE
This First Amendment to Net Industrial Lease ("First Amendment") is
entered into as of this 22nd day of June, 1998, between 0000 X. XXXXXXXX XXXX
LIMITED PARTNERSHIP, an Arizona limited partnership ("Landlord") and MIDLAND
CREDIT MANAGEMENT, INC., a Kansas corporation ("Tenant").
RECITALS
Landlord and Tenant entered into that Net Industrial Lease dated
November 19, 1997 (the "Lease") covering 30,000 square feet (the "Original
Premises") of the building located at 4310 E. Broadway Road (the "Building"),
Phoenix, Arizona.
Landlord and Tenant wish to arrange for Tenant's lease of additional
space, to adjust the rent for the Original Premises and to make other amendments
to the Lease.
Landlord and Tenant agree the Lease is amended as follows:
AGREEMENT
1. Effective Date. Except as otherwise provided herein, the effective
date of the Lease amendments as set out in this First Amendment is September 1,
1998 (the "Effective Date").
2. Defined Terms. Capitalized terms used but not defined herein shall
have the meanings ascribed to them in the Lease.
3. Additional Premises. Tenant will lease from Landlord the following
additional space (the "Additional Premises") on the terms and conditions set
forth below:
Additional Premises: Approximately 22,613 rentable square feet of
the building located at 0000 X. Xxxxxxxx, as
outlined on Exhibit "A" attached hereto.
Term: Sixty (60) months, commencing on the
Effective Date and ending August 31, 2003.
Fixed Minimum Rent:
Months 1 - 30 @ $.45 per rsf NNN*
Months 31 - 60 @ $.50 per rsf NNN*
*These amounts do not include rental taxes,
Additional Rent, excess tenant improvements
costs (if any), or any other sums payable to
Landlord under the Lease, all of which sums
remain payable during the term of the Lease.
Security Deposit: Tenant currently has deposited with Landlord
a security deposit in the amount of
$18,600.00. Upon execution of this First
Amendment, Tenant will increase the security
deposit by $16,800.00 for a total security
deposit in the amount of $35,400.00.
Use: General Office and Telephone Operators.
Parking: Notwithstanding anything to the contrary
contained in Paragraph 2(c) of the Lease, as
of the Effective Date, Tenant may use up to
90 additional parking spaces located
adjacent to the Additional Premises or in
the Wood Street lot.
Improvements: Landlord will complete tenant improvements
to the Additional Premises (the "Additional
Premises Tenant Improvements") on or prior
to the Effective Date, pursuant to a space
plan approved by both Landlord and Tenant,
and attached hereto as Exhibit "C". In the
event the actual costs of the Additional
Premises Tenant Improvements exceed $169,597
(the "Allowance") ($7.50/r.s.f.), Landlord
shall amortize any excess costs as
additional Fixed Minimum Rent for the
Additional Premises over the term of the
Lease of the Additional Premises, including
a 10% annual rate of interest and will
adjust the Fixed Minimum Rent for the
Additional Premises accordingly. If the
actual costs of the improvements are less
than $169,597, Tenant shall receive no
rental abatement or other credit for the
underage. Insofar as the estimated costs for
the Additional Premises Tenant
2
Improvements are $402,086.67, exceeding the
Allowance by $232,489.67, Tenant's Fixed
Minimum Rent for the Additional Premises is
estimated to be the amounts specified on
Exhibit "F" attached hereto, which amounts
are subject to further revision based on
determination of the final costs for the
Additional Premises Tenant Improvements.
Early Occupancy: If the Additional Premises Tenant
Improvements are completed prior to the
Effective Date, Tenant may occupy the
Additional Premises upon completion of the
Additional Premises Tenant Improvements for
no additional rent.
As of the earlier of the Effective Date or the date of Tenant's occupancy of the
Additional Premises, the provisions of the Lease and this First Amendment will
apply to Tenant's lease of the Additional Premises as if the Additional Premises
were included as part of the Premises, except as otherwise provided in this
First Amendment.
4. Pro Rata Share. Notwithstanding anything to the contrary in the
Lease, from and after the Effective Date, Tenant's pro-rata share for all
purposes under the Lease, and specifically as to Property Costs as provided for
in Paragraph 5.1(b) ("Additional Rent") of the Lease, shall be 85.95% (52,613
r.s.f ) 61,212 r.s.f.).
5. Extension of Term of Original Premises. The Term of the Lease for
the Original Premises will be extended through August 31, 2003 to be co-terminus
with the Term of the Lease for the Additional Premises.
6. Rental Adjustments for Original Premises. Notwithstanding anything
to the contrary in the Lease, following full execution of this First Amendment,
Landlord will adjust Tenant's Rent for the Original Premises pursuant to the
terms of this Section 6. Accordingly, effective as of the Effective Date,
Exhibit "E" attached to the Lease is deleted in its entirety and is replaced by
the "Revised Fixed Minimum Rent Schedule for Original Premises" attached hereto
as Revised Exhibit "E".
(a) The parties acknowledge that, as a result of change order
requests by Tenant, the costs incurred to build out the
Original Premises (the "Original Improvements") exceeded the
Original Improvements amount provided for in Exhibit "C" of
the Lease by $38,532.88. Accordingly, Landlord and Tenant
agree that, from and after the Effective Date, the Fixed
Minimum Rent for the Original Premises shall be increased to
include such excess Original Improvements costs, amortized
over the remaining Term of the Lease at 10% annual interest.
(b) At Tenant's request, Landlord will build out a new restroom
facility consisting of 555 square feet located in the Original
Premises pursuant to the space plan attached hereto as Exhibit
"B" (the "Restroom Improvements"). Landlord will provide an
allowance of up to $4,162.50 ($7.50/r.s.f.) to provide the
Restroom Improvements. The estimated costs of the Restroom
Improvements exceed the $4,162.50 allowance, by $35,394.62.
Accordingly, Landlord and Tenant agree that, from and after
the Effective Date, the Fixed Minimum Rent for the Original
Premises shall be further increased to include such excess
Restroom Improvements costs, amortized over the remaining Term
of the Lease at 10% annual interest, subject to further
revision based on final costs for the Restroom Improvements.
(c) At Tenant's request, Landlord will construct six new offices
within the Original Premises (the "Office Improvements") at an
estimated total cost of $26,843.25. Accordingly, Landlord and
Tenant agree that, from and after the Effective Date, the
Fixed Minimum Rent for the Original Premises shall be further
increased to include such excess Office Improvements costs,
amortized over the remaining term of lease at 10% annual
interest, subject to further revision based on final costs for
the Office Improvements.
(d) The parties further acknowledge that construction of the
Restroom Improvements and the Office Improvements will cause a
substantial interruption of Tenant's business activities at
the Premises. Landlord shall use its commercially reasonable
efforts to minimize such interruption. However,
notwithstanding anything to the contrary in the Lease or
elsewhere in this First Amendment, Tenant shall receive a
$30,000 credit against the Fixed Minimum Rent for the Original
Premises owed by Tenant for the months of July and August of
1998 (the "Business Interruption Credit").
7. Option to Extend. As of the Effective Date, Landlord and Tenant
hereby acknowledge and confirm that Tenant's option to extend the Term of the
Lease as set out in Exhibit "F" of the
2
3
Lease applies to all, and only all, of the space then under lease by Tenant on
the Property, at the time Tenant provides Landlord written notice of Tenant's
intent to exercise its option to extend the Lease term.
8. Satellite Dish. Landlord's approval is hereby granted to Tenant to
place, install, and maintain, at Tenant's sole expense and solely for Tenant's
use in the conduct of its business at the Premises, at any time during the Term
of the Lease or any extensions or renewals, not more than one satellite dish
(the "Satellite Dish") on the roof of the Original Premises, subject to
Landlord's approval as to size and location of same, which approval will not be
withheld unreasonably. Tenant will assume responsibility for installation and
maintenance of the Satellite Dish, which installation and maintenance shall be
in accordance with sound engineering practices and in compliance with applicable
laws of any governmental authority having jurisdiction over the Property, the
Premises or any activity conducted thereon by Tenant. Tenant shall obtain all
permits, licenses and approvals required by law for the installation and
maintenance, repair and replacement of the Satellite Dish.
(a) Landlord shall in no event be responsible for any loss or
injury to Tenant, its agents or employees, or the general
public resulting from Tenant's or its agents' or contractors'
installation, repair, replacement, maintenance or use of the
Satellite Dish and Tenant shall indemnify and hold Landlord
harmless from and against all claims, actions, damages,
liabilities and expenses in connection with the loss of life,
personal injury or damaged property arising out of the
installation, repair, replacement, maintenance or use of the
Satellite Dish by Tenant or Tenant's employees, agents and
contractors.
(b) All risk of physical damage or loss with respect to the
Satellite Dish and to the Project site where the Satellite
Dish is placed (if such damage or loss is related to the
Satellite Dish) is assumed by Tenant.
(c) Upon expiration of the Lease Term, or any extensions or
renewals, Tenant shall have the right to remove or cause to be
removed, and Landlord shall have the right to require Tenant
to remove, the Satellite Dish. If Tenant elects or is required
by Landlord to remove the Satellite Dish, Tenant shall repair
any damage caused by such removal.
9. Remaining Lease Terms. Except as expressly amended by this First
Amendment, all the terms, covenants, and conditions of the Lease remain in full
force and effect. In the event of any conflict between the provisions of this
First Amendment and the Lease, the provisions of this First Amendment shall
control.
IN WITNESS WHEREOF, Landlord and Tenant have executed this First
Amendment to Lease on the date written above.
TENANT: LANDLORD:
MIDLAND CREDIT MANAGEMENT, INC., 0000 X. XXXXXXXX XXXX LIMITED PARTNERSHIP,
a Kansas corporation an Arizona limited partnership,
By: /s/ Xxxx X. Xxxxxxxx 6/24/98 By: San Salvador Management, L.L.C.,
----------------------------- an Arizona limited liability company
Its: SR. VICE-PRESIDENT Its General Partner
-----------------------------
By: /s/ Xxxxx Xxxxxx
-------------------------------------
Its: PRINCIPAL
-------------------------------------
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4
EXHIBIT "A"
ADDITIONAL PREMISES
[GRAPHIC OF FLOOR PLAN]
ADDITIONAL PREMISES
0000 X. Xxxxxxxx
22,711 r.s.f.
A - 1
5
EXHIBIT "B"
SPACE PLAN FOR RESTROOM IMPROVEMENTS
[GRAPHIC OF FLOOR PLAN]
B - 1
6
EXHIBIT "C"
SPACE PLAN FOR ADDITIONAL PREMISES
[GRAPHIC OF FLOOR PLAN]
C - 1
7
REVISED EXHIBIT "E"
REVISED FIXED MINIMUM RENT SCHEDULE FOR ORIGINAL PREMISES
Tenant's monthly Fixed Minimum Rent for the Original Premises will be as
follows:
DATES RATE AMOUNT
----- ---- ------
7/1/98 - 7/31/98 $0.62/sf $0.00*
8/1/98 - 8/31/98 $0.62/sf $7,300.00*
9/1/98 - 2/28/01 $0.6913/sf $20,741.08**
3/1/01 - 8/31/03 $0.7414/sf $22,241.08/mo**
*Fixed Minimum Rent from 7/1/98 - 8/31/98 reflects the Business
Interruption Credit referenced in Section 6(d) of this First Amendment.
**Fixed Minimum Rent from 9/1/98 - 8/31/03 includes the amortized
excess costs of the Original Improvements, Restroom Improvements and
Office Improvements referenced in Sections 6(a), (b) and (c) of this
First Amendment (see attached Amortization Table).
E - 1
8
Amortize
AMORTIZATION TABLE
-----------------------------------------------------------------------------------------------
INITIAL DATA
-----------------------------------------------------------------------------------------------
LOAN DATA TABLE DATA
--------------------------------------- -----------------------------------------------------
Loan amount: 100,770.75 Table starts at date:
Annual interest rate: 10.0000% or at payment number:
Term in years: 5
Payments per year: 12
First payment due: 9/1/98
PERIODIC PAYMENT
-----------------------------------------------------------------------------------------------
Entered payment: The table uses the calculated periodic payment amount
Calculated payment: $2,141.08 unless you enter a value for "Entered payment".
CALCULATIONS
-----------------------------------------------------------------------------------------------
Use payment of: $2,141.08 Beginning balance at payment 1: 100,770.75
1st payment in table: 1 Cumulative interest prior to payment 1: 0.00
TABLE
----------------------------------------------------------------------------------------------------------------------
PAYMENT BEGINNING ENDING CUMULATIVE
NO. DATE BALANCE INTEREST PRINCIPAL BALANCE INTEREST
----------------------------------------------------------------------------------------------------------------------
1 9/1/98 100,770.75 839.76 1,301.32 99,469.43 839.76
2 10/1/98 99,469.43 828.91 1,312.17 98,157.26 1,668.67
3 11/1/98 98,157.26 817.98 1,323.10 96,834.15 2,486.65
----------------------------------------------------------------------------------------------------------------------
4 12/1/98 96,834.15 806.95 1,334.13 95,500.02 3,293.60
5 1/1/99 95,500.02 795.83 1,345.25 94,154.78 4,089.43
6 2/1/99 94,154.78 784.62 1,356.46 92,798.32 4,874.05
----------------------------------------------------------------------------------------------------------------------
7 3/1/99 92,798.32 773.32 1,367.76 91,430.56 5,647.37
8 4/1/99 91,430.56 761.92 1,379.16 90,051.40 6,409.29
9 5/1/99 90,051.40 750.43 1,390.65 88,660.75 7,159.72
----------------------------------------------------------------------------------------------------------------------
10 6/1/99 88,660.75 738.84 1,402.24 87,258.51 7,898.56
11 7/1/99 87,258.51 727.15 1,413.93 85,844.58 8,625.72
12 8/1/99 85,844.58 715.37 1,425.71 84,418.87 9,341.09
----------------------------------------------------------------------------------------------------------------------
13 9/1/99 84,418.87 703.49 1,437.59 82,981.28 10,044.58
14 10/1/99 82,981.28 691.51 1,449.57 81,531.71 10,736.09
15 11/1/99 81,531.71 679.43 1,461.65 80,070.06 11,415.52
----------------------------------------------------------------------------------------------------------------------
16 12/1/99 80,070.06 667.25 1,473.83 78,596.23 12,082.77
17 1/1/00 78,596.23 654.97 1,486.11 77,110.12 12,737.74
18 2/1/00 77,110.12 642.58 1,498.50 75,611.62 13,380.32
----------------------------------------------------------------------------------------------------------------------
19 3/1/00 75,611.62 630.10 1,510.98 74,100.64 14,010.42
20 4/1/00 74,100.64 617.51 1,523.58 72,577.06 14,627.93
21 5/1/00 72,577.06 604.81 1,536.27 71,040.79 15,232.73
----------------------------------------------------------------------------------------------------------------------
22 6/1/00 71,040.79 592.01 1,549.07 69,491.72 15,824.74
23 7/1/00 69,491.72 579.10 1,561.98 67,929.73 16,403.84
24 8/1/00 67,929.73 566.08 1,575.00 66,354.73 16,969.92
----------------------------------------------------------------------------------------------------------------------
25 9/1/00 66,354.73 552.96 1,588.12 64,766.61 17,522.88
26 10/1/00 64,766.61 539.72 1,601.36 63,165.25 18,062.60
27 11/1/00 63,165.25 526.38 1,614.70 61,550.55 18,588.97
----------------------------------------------------------------------------------------------------------------------
28 12/1/00 61,550.55 512.92 1,628.16 59,922.39 19,101.90
29 1/1/01 59,922.39 499.35 1,641.73 58,280.66 19,601.25
30 2/1/01 58,280.66 485.67 1,655.41 56,625.25 20,086.92
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Page 1
E - 2
9
Amortize
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31 3/1/01 56,625.25 471.88 1,669.20 54,956.05 20,558.80
32 4/1/01 54,956.05 457.97 1,683.11 53,272.93 21,016.77
33 5/1/01 53,272.93 443.94 1,697.14 51,575.80 21,460.71
----------------------------------------------------------------------------------------------------------------------
34 6/1/01 51,575.80 429.80 1,711.28 49,864.51 21,890.50
35 7/1/01 49,864.51 415.54 1,725.54 48,138.97 22,306.04
36 8/1/01 48,138.97 401.16 1,739.92 46,399.05 22,707.20
----------------------------------------------------------------------------------------------------------------------
37 9/1/01 46,399.05 386.66 1,754.42 44,644.63 23,093.86
38 10/1/01 44,644.63 372.04 1,769.04 42,875.58 23,465.90
39 11/1/01 42,875.58 357.30 1,783.78 41,091.80 23,823.19
----------------------------------------------------------------------------------------------------------------------
40 12/1/01 41,091.80 342.43 1,798.65 39,293.15 24,165.63
41 1/1/02 39,293.15 327.44 1,813.64 37,479.51 24,493.07
42 2/1/02 37,479.51 312.33 1,828.75 35,650.76 24,805.40
----------------------------------------------------------------------------------------------------------------------
43 3/1/02 35,650.76 297.09 1,843.99 33,806.77 25,102.49
44 4/1/02 33,806.77 281.72 1,859.36 31,947.41 25,384.21
45 5/1/02 31,947.41 266.23 1,874.85 30,072.56 25,650.44
----------------------------------------------------------------------------------------------------------------------
46 6/1/02 30,072.56 250.60 1,890.48 28,182.08 25,901.04
47 7/1/02 28,182.08 234.85 1,906.23 26,275.85 26,135.89
48 8/1/02 26,275.85 218.97 1,922.12 24,353.74 26,354.86
----------------------------------------------------------------------------------------------------------------------
49 9/1/02 24,353.74 202.95 1,938.13 22,415.61 26,557.81
50 10/1/02 22,415.61 186.80 1,954.28 20,461.32 26,744.60
51 11/1/02 20,461.32 170.51 1,970.57 18,490.75 26,915.12
----------------------------------------------------------------------------------------------------------------------
52 12/1/02 18,490.75 154.09 1,986.99 16,503.76 27,069.21
53 1/1/03 16,503.76 137.53 2,003.55 14,500.21 27,206.74
54 2/1/03 14,500.21 120.84 2,020.25 12,479.97 27,327.57
----------------------------------------------------------------------------------------------------------------------
55 3/1/03 12,479.97 104.00 2,037.08 10,442.89 27,431.57
56 4/1/03 10,442.89 87.02 2,054.06 8,388.83 27,518.60
57 5/1/03 8,388.83 69.91 2,071.17 6,317.66 27,588.50
----------------------------------------------------------------------------------------------------------------------
58 6/1/03 6,317.66 52.65 2,088.43 4,229.22 27,641.15
59 7/1/03 4,229.22 35.24 2,105.84 2,123.39 27,676.39
60 8/1/03 2,123.39 17.69 2,123.39 0.00 27,694.09
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Page 2
E - 3
10
EXHIBIT "F"
FIXED MINIMUM RENT SCHEDULE FOR ADDITIONAL PREMISES
Tenants monthly fixed minimum rent will be as follows:
DATES RATE* AMOUNT
9/1/98 - 2/28/01** $0.65/sf $14,698.45/mo.
3/1/03 - 8/31/03 $0.70/sf $15,829.10/mo.
*This rate is based on the estimate to complete the tenant improvements
per the approved space plan. The final rate is subject to change if
buildout costs are higher due to change orders or miscellaneous other
unforeseen costs.
**Fixed Minimum Rent from 9/1/98 - 8/31/03 includes the amortization of
excess tenant improvement costs from the initial buildout estimate.
F-1
11
Amortize
-----------------------------------------------------------------------------------------------
AMORTIZATION TABLE
-----------------------------------------------------------------------------------------------
INITIAL DATA
-----------------------------------------------------------------------------------------------
LOAN DATA TABLE DATA
--------------------------------------- -----------------------------------------------------
Loan amount: 232,489.67 Table starts at date:
Annual interest rate: 10.0000% or at payment number:
Term in years: 5
Payments per year: 12
First payment due: 9/1/98
PERIODIC PAYMENT
-----------------------------------------------------------------------------------------------
Entered payment: The table uses the calculated periodic payment amount
Calculated payment: $4,939.72 unless you enter a value for "Entered payment".
CALCULATIONS
-----------------------------------------------------------------------------------------------
Use payment of: $4,939.72 Beginning balance at payment 1: 232,489.67
1st payment in table: 1 Cumulative interest prior to payment 1: 0.00
TABLE
----------------------------------------------------------------------------------------------------------------------
PAYMENT BEGINNING ENDING CUMULATIVE
NO. DATE BALANCE INTEREST PRINCIPAL BALANCE INTEREST
----------------------------------------------------------------------------------------------------------------------
1 9/1/98 232,489.67 1,937.41 3,002.30 229,487.37 1,937.41
2 10/1/98 229,487.37 1,912.39 3,027.32 226,460.04 3,849.81
3 11/1/98 226,460.04 1,887.17 3,052.55 223,407.49 5,736.98
----------------------------------------------------------------------------------------------------------------------
4 12/1/98 223,407.49 1,861.73 3,077.99 220,329.50 7,598.70
5 1/1/99 220,329.50 1,836.08 3,103.64 217,225.86 9,434.78
6 2/1/99 217,225.86 1,810.22 3,129.50 214,096.36 11,245.00
----------------------------------------------------------------------------------------------------------------------
7 3/1/99 214,096.36 1,784.14 3,155.58 210,940.78 13,029.14
8 4/1/99 210,940.78 1,757.84 3,181.88 207,758.90 14,786.98
9 5/1/99 207,758.90 1,731.32 3,208.39 204,550.50 16,518.30
----------------------------------------------------------------------------------------------------------------------
10 6/1/99 204,550.50 1,704.59 3,235.13 201,315.37 18,222.89
11 7/1/99 201,315.37 1,677.63 3,262.09 198,053.28 19,900.52
12 8/1/99 198,053.28 1,650.44 3,289.27 194,764.01 21,550.96
----------------------------------------------------------------------------------------------------------------------
13 9/1/99 194,764.01 1,623.03 3,316.69 191,447.32 23,173.99
14 10/1/99 191,447.32 1,595.39 3,344.32 188,103.00 24,769.39
15 11/1/99 188,103.00 1,567.52 3,372.19 184,730.81 26,336.91
----------------------------------------------------------------------------------------------------------------------
16 12/1/99 184,730.81 1,539.42 3,400.30 181,330.51 27,876.34
17 1/1/00 181,330.51 1,511.09 3,428.63 177,901.88 29,387.42
18 2/1/00 177,901.88 1,482.52 3,457.20 174,444.68 30,869.94
----------------------------------------------------------------------------------------------------------------------
19 3/1/00 174,444.68 1,453.71 3,486.01 170,958.66 32,323.64
20 4/1/00 170,958.66 1,424.66 3,515.06 167,443.60 33,748.30
21 5/1/00 167,443.60 1,395.36 3,544.36 163,899.25 35,143.66
----------------------------------------------------------------------------------------------------------------------
22 6/1/00 163,899.25 1,365.83 3,573.89 160,325.36 36,509.49
23 7/1/00 160,325.36 1,336.04 3,603.67 156,721.68 37,845.53
24 8/1/00 156,721.68 1,306.01 3,633.70 153,087.98 39,151.55
----------------------------------------------------------------------------------------------------------------------
25 9/1/00 153,087.98 1,275.73 3,663.99 149,423.99 40,427.28
26 10/1/00 149,423.99 1,245.20 3,694.52 145,729.47 41,672.48
27 11/1/00 145,729.47 1,214.41 3,725.31 142,004.17 42,886.89
----------------------------------------------------------------------------------------------------------------------
28 12/1/00 142,004.17 1,183.37 3,756.35 138,247.82 44,070.26
29 1/1/01 138,247.82 1,152.07 3,787.65 134,460.16 45,222.33
30 2/1/01 134,460.16 1,120.50 3,819.22 130,640.95 46,342.83
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Page 1
F - 2
12
Amortize
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31 3/1/01 130,640.95 1,088.67 3,851.04 126,789.90 47,431.50
32 4/1/01 126,789.90 1,056.58 3,883.14 122,906.77 48,488.09
33 5/1/01 122,906.77 1,024.22 3,915.50 118,991.27 49,512.31
----------------------------------------------------------------------------------------------------------------------
34 6/1/01 118,991.27 991.59 3,948.12 115,043.15 50,503.90
35 7/1/01 115,043.15 958.69 3,981.03 111,062.12 51,462.60
36 8/1/01 111,062.12 925.52 4,014.20 107,047.92 52,388.11
----------------------------------------------------------------------------------------------------------------------
37 9/1/01 107,047.92 892.07 4,047.65 103,000.27 53,280.18
38 10/1/01 103,000.27 858.34 4,081.38 98,918.89 54,138.52
39 11/1/01 98,918.89 824.32 4,115.39 94,803.49 54,962.84
----------------------------------------------------------------------------------------------------------------------
40 12/1/01 94,803.49 790.03 4,149.69 90,653.80 55,752.87
41 1/1/02 90,653.80 755.45 4,184.27 86,469.53 56,508.32
42 2/1/02 86,469.53 720.58 4,219.14 82,250.39 57,228.90
----------------------------------------------------------------------------------------------------------------------
43 3/1/02 82,250.39 685.42 4,254.30 77,996.09 57,914.32
44 4/1/02 77,996.09 649.97 4,289.75 73,706.34 58,564.28
45 5/1/02 73,706.34 614.22 4,325.50 69,380.84 59,178.50
----------------------------------------------------------------------------------------------------------------------
46 6/1/02 69,380.84 578.17 4,361.54 65,019.30 59,756.68
47 7/1/02 65,019.30 541.83 4,397.89 60,621.41 60,298.50
48 8/1/02 60,621.41 505.18 4,434.54 56,186.87 60,803.68
----------------------------------------------------------------------------------------------------------------------
49 9/1/02 56,186.87 468.22 4,471.49 51,715.37 61,271.91
50 10/1/02 51,715.37 430.96 4,508.76 47,206.62 61,702.87
51 11/1/02 47,206.62 393.39 4,546.33 42,660.29 62,096.26
----------------------------------------------------------------------------------------------------------------------
52 12/1/02 42,660.29 355.50 4,584.22 38,076.07 62,451.76
53 1/1/03 38,076.07 317.30 4,622.42 33,453.65 62,769.06
54 2/1/03 33,453.65 278.78 4,660.94 28,792.72 63,047.84
----------------------------------------------------------------------------------------------------------------------
55 3/1/03 28,792.72 239.94 4,699.78 24,092.94 63,287.78
56 4/1/03 24,092.94 200.77 4,738.94 19,353.99 63,488.55
57 5/1/03 19,353.99 161.28 4,778.44 14,575.56 63,649.84
----------------------------------------------------------------------------------------------------------------------
58 6/1/03 14,575.56 121.46 4,818.26 9,757.30 63,771.30
59 7/1/03 9,757.30 81.31 4,858.41 4,898.89 63,852.61
60 8/1/03 4,898.89 40.82 4,898.89 0.00 63,893.43
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Page 2
F - 3
