SETTLEMENT AGREEMENT WITH INVENTOR OF ELECTROTELLURIC SURVEY
Cause Number 99CV0435
AMALGAMATED EXPLORATIONS, INC. IN THE DISTRICT COURT OF
and MSP TECHNOLOGIES, INC.
vs. JEFFERSON COUNTY
XXXX X. XXXXXXX and
XXXXXX X. XXXXXXXXX, XX. STATE OF COLORADO
SETTLEMENT AGREEMENT
The parties hereto agree that this lawsuit and all claims and controversies
between them, asserted or assertable in this case against all parties named
herein are hereby settled in accordance with the following terms of this
Settlement Agreement.
1. The parties acknowledge that bona fide disputes and controversies exist
between them, both as to liability and the amount thereof, if any, and by
reason of such disputes and controversies, they desire to compromise and
settle all claims and causes of action of any kind whatsoever which the
parties have
or
may have arising out of the transaction or occurrence which is the subject of
this litigation. It is further understood and agreed that this is a
compromise of a disputed claim, and nothing contained herein shall be
construed as an admission of liability by any party, all such liability being
expressly denied.
2. Each signatory hereto warrants and represents:
(a) he or she has authority to bind the parties for whom that signatory acts.
(b) the claims, suits, rights and/or interests which are the subject matter
hereto are owned by the party asserting same, have not been assigned,
transferred or sold, and are free of any encumbrance.
3. The consideration to be given for this agreement in full and final
settlement is as follows:
(a) $1,500,000.00 to be escrowed by Plaintiff, Amalgamated to bear interest
at 5% per annum.
(b) Plaintiff, Amalgamated, pays Defendants $20,000.00 per month commencing
August 15, 1999, and payable on the 15th of the month thereafter, each
monthly payment to be applied toward principal while interest accumulates on
the
principal balance and interest until paid in full. Defendants will provide
written notice of non-payment by the 20th of any month of default, and
Amalgamated shall have 10 days after receipt of notice to cure default. Time
is of the essence and failure to cure the default shall result to Plaintiffs
retaining the stock, cancellation of the assignment, reversion of the patent
to Defendants and Plaintiffs will no longer have any rights to the
technology.
(c) Defendants shall escrow 395,000 shares of Amalgamated stock to remain in
escrow until paid in full.
(d) Defendants shall assign the patent covered by the licensing agreement to
MSP Technologies to be held in escrow until paid in full. The said assignment
shall be to Amalgamated.
(e) Amalgamated grants Defendants a non-exclusive, royalty free license in
the patent covered by the licensing agreement, and Defendants shall be the
only ones entitled to use the technology under the non-exclusive license.
(f) While this agreement is in place, no royalty shall be due or payable to
Defendants.
(g) Defendant, Xxxxxxx, commits to upgrading the Electrotelluric system
already in place at Plaintiff's expense. The upgrade will involve on board
microprocessor capability and enhanced filtering. The instrument will have
the ability to record digitally the sweep for DSP (Digital Signal
Processing).
(h) Patent herein means the patent and application in the attached appendix.
(i) Upon final payment, the stock and assignment held in escrow shall be
delivered to Amalgamated.
Taxable costs will be paid as follows: The parties bear their own costs.
4. Except for the agreements set forth herein, the parties agree to release,
discharge, and forever hold the other and their respective insurers harmless
from. ' any and all claims, demands or suits, known or unknown, fixed or
contingent, liquidated or unliquidated, whether or not asserted in the above
case, as of this date, arising from or related to the events and transactions
which are the subject matter of this case, including claims for attorney's
fees, indemnification, and costs. This mutual release runs to the benefit of
all attorneys, agents, employees, officers, parent corporations, subsidiary
corporations, directors, shareholders, partners, heirs, assigns, successors
in interest, and legal representatives of the parties hereto.
5. The parties will execute and file: Agreed Order dismissing all claims with
prejudice and/or a Take-Nothing Judgment as to all claims and/or any other
documents necessary to effectuate the terms of this agreement pursuant to
law.
6. Within 14 days from the date hereof, counsel for Plaintiff shall deliver
the documents to be executed in connection with this settlement to counsel
for
the other parties hereto. The parties and their counsel agree to cooperate
with each other in the drafting and execution of such additional documents as
are reasonably requested or required to implement the provisions and spirit
of this Settlement Agreement. Notwithstanding such additional documents, the
parties confirm that this is a written Settlement Agreement as contemplated
by Section 154.071 of the Texas Civil Practice and Remedies Code, is a
complete, valid and binding contract, is intended to be an enforceable
agreement as contemplated by Rule 1 1, Texas Rules of Civil Procedure, and
may be used as the basis for a motion for judgment, motion for summary
judgment, or motion to enforce with each party waiving all rights to a jury
trial.
7. THIS SETTLEMENT AGREEMENT IS NOT SUBJECT TO REVOCATION.
8. If one or more disputes arise with regard to the interpretation and/or
performance of this agreement or any of its provisions, the parties agree to
attempt resolution by phone conference with Xxx X. Xxxxxxxxx, the mediator
who facilitated this settlement. If the parties cannot resolve their
differences by phone conference(s) with the mediator, then each agrees to
schedule one day of mediation with him as soon as possible to resolve the
disputes and to share the costs of same equally. If a party refuses to
mediate, then that party may not recover attorney's fees or costs in any
litigation brought to construe or enforce this agreement, and the prevailing
party or parties shall be entitled to recover reasonable attorney's fees and
expenses, including the cost of the mediation.
9. This agreement is made and performable in Xxxxxx County and shall be
construed in accordance with the laws of the State of Texas.
10. By signing this Settlement Agreement, each signatory agrees and
acknowledges that: Although the mediator has provided a basic outline of
the agreement to the parties and their counsel as a courtesy to facilitate
the final resolution of this dispute, the parties and their counsel have
thoroughly reviewed it and have where necessary, modified it to conform to
the requirements of their agreement; Each signatory to the agreement has
entered into it freely and without duress after having consulted with
attorneys of their choice; Each party has been advised by the mediator that
the mediator is not the attorney for any party and that each party should
have this agreement reviewed by that party's attorney prior to executing it;
Each signatory agrees to release, indemnify and hold the mediator harmless
from any and all claims, demands, or suits arising directly or indirectly
from the mediation and drafting of this settlement agreement.
Signed this date, July 9, 1999.
Plaintiffs: Defendants:
/S/ /S/
------------------------------ ----------------------------
Xxxxxxxxx Xxxxx, CEO Xxxx X. Xxxxxxx
Amalgamated Explorations, Inc.
/S/ /S/
------------------------------ ----------------------------
Xxxxxxxxx Xxxxx on behalf of Xxxxxx X. Xxxxxxxxx, Xx.
MSP Technologies, Inc.
APPENDIX
U.S. Patents
------------
U.S. Patent No. 5,777,478
U.S. Patent Applications
------------------------
Application No. 09/109,853, filed July 2, 1998
Foreign Applications
Australia: Application No. 40439/97
Brazil Application based on PCT/US97/12882
China Application No. 97198316.X
European Application No. 00000000.5
Japan Application No. 511643/98
Mexico Application No. 9901952
New Zealand Application No. 334267
Norway Application No. 19990932
Russia Application No. 99106410
S. Korea Application No. 00-0000-0000000
DISTRICT COURT FOR JEFFERSON COUNTY, STATE OF COLORADO
Case No. 99 CV 0435
STIPULATION FOR DISMISSAL WITH PREJUDICE
AMALGAMATED EXPLORATIONS, INC., a Colorado corporation in good standing, and
MSP
TECHNOLOGIES, INC., a Texas corporation authorized to conduct business in
Colorado, Plaintiffs,
V.
XXXX X. XXXXXXX and XXXXXX X. XXXXXXXXX, XX.
Defendants.
Pursuant to C.R.C.P. 41(a)(1) and in accordance with the Settlement Agreement
dated July 9, 1999 between and among the parties, Plaintiffs, Amalgamated
Explorations, Inc. and MSP Technologies, Inc. and Defendants Xxxx X. Xxxxxxx
and Xxxxxx X. Xxxxxxxxx, Xx., by and through their respective attorneys,
hereby stipulate to the dismissal with prejudice of all claims asserted in
this action. Each party shall bear its own fees and costs.
Xxxx & Xxxxxx, P.C. XXXXXX XXXXXXXX & XXXXXXX, P.C.
By: /S/ By: /S/
------------------------------- ----------------------------
Xxxxxx X. Xxxxxx, Esq. #13514 Xxxxx X. Xxxxxxx, Esq. #939
000 X. 00xx Xxxxxx, Xxxxx #000 0000 000x Xxxxxx, #0000
Xxxxxx, Xxxxxxxx 00000 Xxxxxx, XX 00000-1401
Telephone: (000) 000-0000 Telephone: (000) 000-0000
Attorneys for Plaintiffs Attorneys for Defendants
ESCROW INSTRUCTIONS
September 17, 1999
To: Escrow Document Services
for Lawyers, Inc.
Re: Escrow Account No. 99-120
Gentlemen:
Amalgamated Explorations, Inc. and MSP Technologies, Inc. (collectively,
"First Party") and Xxxx X. Xxxxxxx ("Xxxxxxx") and Xxxxxx X, Xxxxxxxxx, Xx.
("Xxxxxxxxx"), or, Xxxxxxx and Xxxxxxxxx being (collectively referred to as
"Second Party") hereby requests that Escrow Document Services for Lawyers,
Inc., a Colorado corporation ("EDSL") act as Escrow Agent on the following
Terms and conditions:
INSTRUCTIONS
First Party and Second Party are to deliver the documents identified on
Schedule "A" to EDSL.
EDSL is directed to hold the documents identified on Schedule "A" in escrow
and deliver them in accordance with the instructions on Schedule "B.
GENERAL TERMS AND CONDITIONS
These Escrow Instructions are not binding upon EDSL unless and until they
have been accepted in writing in the space provided for such purpose below.
EDSL is not a party and is not bound by any other agreement which may be
evidenced by outside events, or which arises out of these Escrow
Instructions,
except as specifically set forth herein. EDSL looks solely to these Escrow
Instructions for its duties and responsibilities.
EDSL is to act under these Escrow Instructions as a depositary only and is
not responsible for or liable in any manner whatever for the sufficiency,
correctness, genuineness, or validity of any instrument deposited with it, or
for the form or execution of such instrument, or for the identity, authority,
or rights of any person executing or depositing it.
XXXX acts as a document holding and disbursing agent only. EDSL shall not be
required to file Form 1099's on behalf of the par-ties, and the parties agree
to file all required IRS Form 1099's.
EDSL shall not be required to take notice of any default or to take any
action with respect to such default involving any expense or liability,
unless notice in writing of such default is given to it, and unless it is
indemnified in a manner satisfactory to it against such expense or liability.
EDSL shall be protected in acting upon any written notice, request, waiver,
consent, receipt, or other paper or document signed by the proper party or
parties.
EDSL may seek advice from and employ legal counsel in the event of any
lawsuit, dispute, or question as to the construction of any of the provisions
of these Escrow Instructions, or EDSL's duties under these Escrow
Instructions. EDSL shall incur no liability and shall be fully protected when
it acts in accordance with the opinion and instructions of counsel. The
parties hereto agree to reimburse EDSL its reasonable attorneys' fees if
counsel is so employed.
If there is any disagreement between any of the parties to these Escrow
Instructions, or between them or any of them and any other person, that
results in adverse claims and demands being made on EDSL in connection with
or for any property involved in or affected by these Escrow Instructions,
EDSL shall be entitled, at its option, to refuse to comply with any claims or
demands on it as long as such disagreement shall continue. In so refusing,
EDSL may make no delivery or other disposition of any documents involved in
or
affected by these Escrow Instructions. EDSL shall not be or become liable in
any way or to any person for its failure or refusal to comply with
conflicting or adverse demands.
EDSL shall be entitled to continue so to refrain from acting and so to refuse
to act until (1) the right of adverse claimants shall have been finally
settled by arbitration or adjudicated in a court assuming and having
jurisdiction of the property involved in or affected by these Escrow
Instructions, or (2) all differences shall have been adjusted by agreement,
and (3) after such resolution EDSL has been notified in writing signed by all
interested persons. EDSL shall have a right to file suit in the event
settlement of any dispute appears to be impossible, and, in such event, each
party consents to jurisdiction in the Denver District Court, State of
Colorado and the parties hereto agree to pay reasonable attorneys' fees and
costs incurred. The laws of Colorado shall apply to any questions of
interpretation under these Escrow Instructions.
These Escrow Instructions may be executed in one or more counterparts,
each of which shall be an original, but all of which shall constitute one and
the same instrument.
NOTICES
All notices and other communications to any party shall be sufficiently given
if (i) delivered in person, (ii) sent by certified mail, return receipt
requested, or (iii) sent by courier. All notices shall be effective and shall
be deemed delivered (i) if by personal delivery, on the date of delivery, and
(ii) if by mail or courier, on the first day after mailing or delivery to the
courier. Until a change of address is communicated as indicated above, all
notices shall be addressed as follows:
EDSL: [Items by courier or items requiring signature upon receipt]
Escrow Document Services
c/o Xxxxxx X. Xxxxxxx
0000 Xxxxxxxx Xxxxx 0000
Xxxxxx, XX 00000
EDSL: [Routine Mail]
Escrow Document Services
000 X. Xxxxxxxx Xxxxxx
Xxxxxx, XX 00000
First Party: Second Party:
Amalgamated Explorations, Inc. and Xxxx X. Xxxxxxx and
MSP Technologies, Inc. Xxxxxx X. Xxxxxxxxx, Xx.
0000 Xxxxx Xxxxx, Xxxxx 000 x/x Xxxxx, Xxxxxxx,
Xxxxxx, Xxxxxxxx 00000 D'Ambrosio & Xxxxxxxxx, LLP
Attn: Xxxxxxxxx X. Xxxxx 0000 X. Xxxx Xxxxx, Xxxxx
0000
Phone: 000-000-0000 Houston, Texas 77027
Facsimile: 000-000-0000 Phone: 000-000-0000
Facsimile: 000-000-0000
with copy to: with copy to:
Xxxxxx X. Xxxxxx Xxxxx X. Xxxxx
000 X. 00xx Xxxxxx, Xxxxx #000 Xxxxx, Xxxxxxx,
Xxxxxx, Xxxxxxxx 00000-1264 D'Ambrosio & Xxxxxxxxx, LLP
Phone: 000-000-0000 0000 X. Xxxx Xxxxx, Xxxxx
0000
Facsimile: 303-837-0849 Houston, Texas 77027
Phone: 000-000-0000
Facsimile: 000-000-0000
INVESTMENT INSTRUCTIONS
EDSL shall invest funds delivered to EDSL only in accordance with the written
instructions of the parties, if any, to be set out in a separate Amendment to
this Escrow Agreement.
FEES AND DISBURSEMENTS
EDSL shall be entitled to receive the following fees:
Set-up Fee $700
(first two parties)
Set-up Fee $100
(for each additional party)
Amendment Fee $250
Annual Fee $250
Account Fee $100
Transaction Fees $ 25
An additional closing fee of $100/hr will be charged for (1) closings after
normal business hours, (2) closings outside the business offices of EDSL and
its officers or loan closers, or (3) for additional services beyond normal
escrow services, such as courier deliveries or additional services may be
approved by the parties.
A party is one or more persons, associations, or corporation having identical
interests in the escrow. For example, any number of persons who are joint
payees or to whom documents are to be distributed jointly constitute a
"party." If parties are added after the escrow has been set up, the
additional set-up fee will be applicable.
The amendment fee applies to each amendment of the escrow instructions. If
the amendment adds parties, the additional set-up fee will be applicable.
The account fee applies to the opening of a certificate of deposit, money
market fund, or other investment account, or the investment of funds pursuant
to these Escrow Instructions or the instructions of the parties.
A transaction is (1) the deposit in escrow of a document after the escrow has
been set up, and (2) the receipt of funds by EDSL in excess of one receipt
per year, (3) the "roll-over" of funds held in a certificate of deposit,
money market fund, or other investment account or investment, (4) the closing
of a certificate of deposit, money market fund, or other investment account,
(5) the disbursement of funds by EDSL in excess of one disbursement per year
(each check or other instrument being a separate disbursement), (6) the
recording or filing of a document, or (7) the giving of any notice required
or permitted by these Escrow Instructions or an Escrow Agreement.
These fees are subject to reasonable adjustments from time to time
commensurate with (a) the duties and responsibilities per-formed by EDSL, as
they may increase or decrease, (b) changing economic conditions, and (c) the
schedule of compensation established. from time to time by XXXX for the
administration of escrows of similar character. EDSL will not institute any
such adjustments without first giving notice to the appropriate interested
party or parties at least thirty (30) days in advance of the date of the
proposed change.
The parties shall reimburse EDSL for all fees, expenses, and charges incurred
by EDSL -in -connection with the performance of any duty under these Escrow
Instructions, including recording fees, telephone, postage, FAX, or courier
charges, and commissions, fees, and charges incurred by EDSL in investing
funds.
EDSL shall send the bills for fees, expenses and charges as follows:
1/2 First Party, 1/2 Second Party
Regardless of any agreement between the parties, however, First Party and
Second Party shall be jointly and severally liable for EDSL's fees, and EDSL
shall be entitled to collect its fees out of funds held for disbursement.
EDSL shall not be required to deliver any documents held by it until its fees
have been paid.
This instrument shall be binding upon the parties hereto, their heirs,
representatives, successors, and assigns.
Amalgamated Explorations, Inc.
First Party
By: /S/
--------------------------
Name: Xxxxxxxxx X. Xxxxx
Title: Chief Executive Officer
Telephone: (000) 000-0000
FAX: (000) 000-0000
Tax I.D. # 00-0000000
MSP Technologies, Inc.
By: /S/
--------------------------
Name: Xxxxxxxxx X. Xxxxx
Title: Chief Executive Officer
Telephone: (000) 000-0000
FAX: (000) 000-0000
Tax I.D. # - 0 C;11 7 AT%
Second Party
By: /S/
--------------------------
Name: Xxxx X. Xxxxxxx
Telephone: (000) 000-0000
FAX: (000) 000-0000
Tax I.D. # ###-##-####
By: /S/
--------------------------
Name: Xxxxxx X. Xxxxxxxxx, Xx.
Telephone: (000) 000-0000
FAX: (000) 000-0000
Tax I.D. # ###-##-####
ACCEPTED FOR ENTRY in the records of Escrow Document Set-vices for Lawyers,
Inc., Denver, Colorado, this 2nd "May of October 1999.
Escrow Document Services for Lawyers, Inc.
By: /S/
--------------------------
Xxxxxx X. Xxxxxxx
President
SCHEDULE A T0
ESCROW INSTRUCTIONS
First Party delivers the following document(s) to EDSL
(1) Copy of July 9, 1999, Settlement Agreement to Case Number 99CV0435
filed in Jefferson County, Colorado that explains, generally, the purpose for
the escrow,
(2) Monthly, a copy of a $15,000 cashiers or bank check to Xxxxxxx, and a
$5,000 cashiers or bank check to Xxxxxxxxx, both of which checks shall be
from a U.S. national bank.
(3) A copy of the Motion to Dismiss with Prejudice, Case Number 99 CV
0435, filed in Jefferson County, Colorado, bearing the court's filing date
stamp; and
(4) A copy of the order signed by Jefferson County District Judge Xxxxx X.
Xxxxxxxxx, Division 4, dismissing such case, with prejudice.
Second Party delivers the following document(s) to EDSL
(1) One or more Stock Certificates for common stock of Amalgamated
Explorations, Inc.,
totaling 395,000 shares, endorsed for transfer to
Amalgamated
Explorations, Inc., signatures guaranteed.
(2) The original U.S. Patent 5,777,478.
(3) The Assignment of the following described "Patent" to Amalgamated
Explorations, Inc., duly executed with signatures witnessed by two witnesses.
U.S. Patents
------------
U.S. Patent No. 5,777.478
U.S, Patent Applications
Application No. 09/109,853, filed July 2, 1999
Foreign Applications
Including, but not limited to:
Australia: Application No. 40439/97
Brazil Application based on PCT/US97/12882
Canada Application No. 2264190
China Application No. 97199316.X
European Application No. 00000000.5
Japan Application No. 5 11643/98
Mexico Application No. 9901952
New Zealand Application No. 334267
Norway Application No. 1999 0932
Russia Application No. 99016410
S. Korea Application No. 00-0000-0000000
SCHEDULE B
TO
ESCROW INSTRUCTIONS
EDSL is directed to hold the documents identified on Schedule A and deliver
them in accordance with the following instructions
(1) First Party has delivered a $20,000 bank check to Escrow Agent. When
First Party (Amalgamated) signs and returns this Escrow Agreement to Escrow
Agent, this first monthly payment shall be delivered to Second Party promptly
after First Party's attorney completes the review in paragraph (2) below.
(2) Upon receipt of the documents from the Second Party identified in
Schedule A by EDSL, the attorneys for First Party will review the original
documents at the offices of EDSL as to form and sufficiency. No copies of
such documents may be made, obtained or retained by First Party or its
attorneys.
(3) Thereafter, EDSL shall hold the documents identified in Schedule A
delivered to EDSL by the Second Party so long as EDSL receives (i) a copy of
the
$15,000 and $5,000 checks for the respective month from the First Party as
required of the First Party in Schedule A accompanied by a letter from
Amalgamated Explorations, Inc. or its attorney certifying the monthly checks
were transmitted to the Second Party in accordance with the Settlement
Agreement and (ii) a letter from the Second Party certifying that the monthly
checks in question were received and were successfully cashed and not
returned as being insufficient funds. If either of these letters are not
received within sixty (60) days of the date of the check, EDSL shall conclude
the checks were timely sent and duly honored when presented for payment.
Schedule C is the amortization schedule utilized herein, with the payments
due on the 15th of the respective month commencing with payment number 1
corresponding to the payment to be made for August 15, 1999. At any time
during the term of the Escrow Agreement, Amalgamated has the option to pay in
a lump sum the then outstanding principle identified in Schedule C without
having to pay the remaining interest identified in Schedule C. In such an
event, (i) and (ii) would be modified to reflect checks in the amount of 75%
of the outstanding principle made to Xxxxxxx and 25% of the outstanding
principle made to Xxxxxxxxx.
(4) If and when Amalgamated Explorations, Inc. pays the sum of $1,500,000
plus interest as required in the Settlement Agreement pursuant to Schedule C
attached hereto with all the requirements of Instruction 3 above being
satisfied, EDSL shall release the documents the Second Party placed into
escrow to the First Party, and this Escrow Agreement shall terminate.
(5) If and when Amalgamated Explorations, Inc. fails to pay or refuses to pay
the monthly funds or final payments to the Second Party according to Schedule
C, and if Amalgamated Explorations, Inc. admits such failure to EDSL in
writing,
EDSL shall deliver the Stock to Amalgamated Explorations, Inc. and EDSL shall
deliver the Assignment, the Patent and any other documents held by EDSL to
Xxxxxxxxx for the Second Party, and this Escrow Agreement shall be
terminated.
(6) If and when Amalgamated Explorations, Inc. fails to pay or refuses to pay
the monthly funds or final payments to the Second Party according to Schedule
C, and Amalgamated Explorations, Inc. (i) fails to give such notice to EDSL,
or (ii) fails to certify the funds were paid as required by Instruction 2
above, or (iii) fails to deliver a copy of the checks as required by
Instruction 2 above, or (iv) Second Party advises EDSL in writing that one of
the monthly checks sent to the Second Party is returned for insufficient
funds, then EDSL shall give a ten (10) day written notice to the First and
Second Parties requiring that Amalgamated Explorations, Inc. pay the amount
due within ten days. If payment is not then made and received by the Second
Party within the ten (10) day period, then after such ten (10) day period
EDSL shall deliver the Stock to Amalgamated Explorations, Inc. and EDSL shall
deliver the Assignment, the Patent, and any other documents held by EDSL to
Xxxxxxxxx for the Second Party, and this Escrow Agreement shall be
terminated.
(Rest of page left blank.)
SCHEDULE C
TO
ESCROW INSTRUCTIONS
Principal Sum $1,500,00.00
interest 5 % per annum
Monthly Payment $20,000.00
Final Payment $2,267.64
Cumulative Cumulative
Month Interest Interest Principal Principal
No. Paid Paid Paid Paid
---- ------------ --------- ---------- ---------- ----------
1. $1,500,000.00 $6,250.00 $ 6,250.00 $13,750.00 $ 13,750.00
2 $1,486,250.00 $6,192.71 $ 12,442.71 $13,807.29 $ 27,557.29
3 $1,472,442.71 $6,135.18 $ 18,577.89 $13,864.82 $ 41,422.11
4 $1,458,577.89 $6,077.41 $ 24,655.29 $13,922.59 $ 55,344.71
5 $1,444,655.29 $6,019.40 $ 30,674.69 $13,980.60 $ 69,325.31
6 $1,430,674.69 $5,961.14 $ 36,635.84 $14,038.86 $ 83,364.16
7 $1,416,635.84 $5,902.65 $ 42,538.49 $14,097.35 $ 97,461.51
8 $1,402,538.49 $5,843.91 $ 48,382.40 $14,156.09 $111,617.60
9 $1,388,382.40 $5,784.93 $ 54,167.32 $14,215.07 $125,832.68
10 $1,374,167.32 $5,725.70 $ 59,893.02 $14,274.30 $140,106.98
11 $1,359,891.02 $5,666.22 $ 65,559.24 $14,333.78 $754,440.76
12 $1,345,559.24 $5,606.50 $ 71,165.74 $14,393.50 $168,834.26
13 $1,331,165.74 $5,546.52 $ 76,712.26 $14,453.48 $183,287.74
14 $1,316,712.26 $5,496.30 $ 82,198.56 $14,513.70 $197,801.44
15 $1,302,199.56 $5,425.83 $ 87,624.39 $14,574.17 $212,375.61
16 $1,287,624.39 $5,365.10 $ 92,989.49 $14,634.90 $227,010-51
17 $1,272,989.49 $5,304.12 $ 98,293.61 $14,695.88 $241,706.39
18 $1,258,293.61 $5,242.89 $103,536.50 $14,757.11 $256,463.50
19 $1,243,536.50 $5,181.40 $108,717.91 $14,818.60 $271,282.09
20 $1,228,717.91 $5,119.66 $113,937.56 $14,880.34 $286,162.44
21 $1,213,837.56 $5,057.66 $118,895.22 $14,942.34 $301,104.78
22 $1,198,895.22 $4,995.40 $123,890.62 $15,004.60 $316,109.38
23 $1,183,890.62 $4,932.88 $128,823.49 $15,067.12 $331,176.51
24 $1,168,823.49 $4,870.10 $133,693.59 $15,129.90 $346,306.41
25 $1,153,693.59 $4,807.06 $138,500.65 $15,192.94 $361,499.35
26 $1,138,500.65 $4,743.75 $143,244.40 $15,256.25 $376,755.60
27 $1,123,244.40 $4,680.19 $147,924.59 $15,319.81 $392,075.41
28 $1,107,924.59 $4,616.35 $152,543.94 $15,383.65 $407,459.06
29 $1,092,540.94 $4,552.25 $157,093.19 $15,447.75 $422,906.81
30 $1,077,093.19 $4,487.89 $161,581.08 $15,512.11 $438,418.92
31 $1,061,581.08 $4,423.25 $166,004.34 $15,576.75 $453,995.66
32 $1,046,004.34 $4,358.35 $170,362.69 $15,641.65 $469,637.31
33 $1,030,362.69 $4,293-18 $174,655.87 $15,706.82 $485,344.13
34 $1,014,655.87 $4,227.73 $178,883.60 $15,772.27 $501,116.40
35 $ 998,883.60 $4,162.01 $183,045.61 $15,837.99 $516,954.39
36 $ 983,045.61 $4,096.02 $187,141.64 $15,903.98 $532,858.36
37 $ 967,141.64 $4,029.76 $191,171.39 $15,970.24 $548,828.61
38 $ 951,171.38 $3,963.21 $195,134.61 $16,036.79 $564,865.39
39 $ 935,134.61 $3,896.39 $199,031.00 $16,103.61 $580,969.00
40 $ 929,031.00 $3,829.30 $202,860.30 $16,170.10 $597,139.70
41 $ 902,860.30 $3,761.92 $206,622.22 $16,238.08 $613,377.78
42 $ 886,622.22 $3,694.26 $210,318.47 $16,305.74 $629,683.53
43 $ 870,316.47 $3,626.32 $213,942.79 $16,373.68 $646,057.21
44 $ 853,942.79 $3,558-09 $217,500.89 $16,441.91 $662,499.11
SCHEDULE C (continued)
Cumulative Cumulative
Month Interest Interest Principal Principal
No. Paid Paid Paid Paid
---- ------------ --------- ---------- ---------- ----------
45 $ 837,500.89 $3,489.59 $220,990.48 $16,510.41 $ 679,009.52
46 $ 820,990.48 $3,420.79 $224,411.27 $16,579.21 $ 695,588.73
47 $ 804,411.27 $3,351.71 $227,762.98 $16,648.29 $ 712,237.02
48 $ 787,762.98 $3,282.35 $231,045.33 $16,717.65 $ 728,954.67
49 $ 771,045.33 $3,212.69 $234,258.02 $16,787.31 $ 745,741.98
50 $ 754,258.02 $3,142.74 $237,400.75 $16,857.26 $ 762,599.24
51 $ 737,400.76 $3,072.50 $240,473.26 $16,927.50 $ 779,526.74
52 $ 720,473.26 $3,001.97 $243,475.23 $16,998.03 $ 796,524.77
53 $ 703,475.23 $2,931.15 $246,406.38 $17,068.85 $ 813,593.62
54 $ 686,406.38 $2,860.03 $249,266.41 $17,139.97 $ 830,733.59
55 $ 669,266.41 $2,788.61 $252,055.02 $17,211.39 $ 847,944.98
56 $ 653,055.02 $2,716.90 $254,771.91 $17,283.10 $ 865,228.09
57 $ 634,771.91 $2,644.88 $257,416.80 $17,355-12 $ 882,583.20
58 $ 617,416.80 $2,572.57 $259,989.37 $17,427.43 $ 900,010.63
59 $ 599,983.37 $2,499.96 $262,489.32 $17,500.04 $ 917,510.68
60 $ 582,489.32 $2,427.04 $264,916.36 $17,572.96 $ 935,083.64
61 $ 564,916.36 $2,353.82 $267,270.18 $17,646.18 $ 932,729.82
62 $ 547,270.18 $2,280.29 $269,550.47 $17,719.71 $ 970,449.53
63 $ 529,550.47 $2,206.46 $271,756.93 $17,793.54 $ 988,243.07
64 $ 511,756.93 $2,132.32 $273,889.25 $17,867.68 $1,006,110.75
65 $ 493,889.25 $2,057.87 $275,947.12 $17,942.13 $1,024,052.88
66 $ 475,947.12 $1,983.11 $277,930.24 $18,016.89 $1,042,069.76
67 $ 457,930.24 $1,908.04 $279,838.28 $18,091.96 $1,060,161.72
68 $ 439,838.28 $1,832.66 $281,670.94 $18,157.34 $1,078,329.06
69 $ 421,670.94 $1,756.96 $283,427.90 $18,243.04 $1,096,572.10
70 $ 403,427.90 $1,680.95 $285,108.85 $18,319.05 $1,114,891.15
71 $ 385,108.85 $1,604.62 $286,713.47 $18,395.38 $1,113,286.53
72 $ 366,713.47 $1,527.97 $288,241.44 $18,472.03 $1,151,758.56
73 $ 348,241.44 $1,451.01 $289,692.45 $18,548.99 $1,170,305.59
74 $ 329,692.45 $1,373.72 $291,066.17 $18,626.23 $1,188,933.83
75 $ 311,066.17 $1,296.11 $292,362.28 $18,703.89 $1,207,637.72
76 $ 292,362,28 $1,218.18 $293,580.45 $18,781.82 $1,226,419.55
77 $ 273,580.45 $1,139.92 $294,720.37 $18,850.08 $1,245,279.63
78 $ 254,720.37 $1,061.33 $295,781.71 $18,938.67 $1,264,218.29
79 $ 235,781.71 $ 982.42 $296,764.13 $19,017.58 $1,283,235.87
80 $ 216,764.13 $ 903.18 $297,667.32 $19,096.82 $1,302,332.68
8 1 $ 197,667.32 $ 823.61 $298,490.93 $19,176.39 $1,321,509.07
82 $ 178,490.93 $ 743.71 $299,234.64 $19,256.29 $1,340,765.36
83 $ 159,234.64 $ 663.48 $299,898.12 $19,333.52 $1,360,101.88
84 $ 139,898.12, $ 582.91 $300,481.03 $19,417.09 $1,379,518.97
85 $ 120,481.03 $ 502.00 $300,983.03 $19,498.00 $1,399,016.97
86 $ 100,983.03 $ 420.75 $301,403.79 $19,579.24 $1,418,596.21
87 $ 81,403.79 $ 339.18 $301,742.98 $19,660.82 $1,438,257.02
88 $ 61,742.98 $ 257.26 $302,000.24 $19,742.74 $1,457,999.76
89 $ 42,000.24 $ 175.00 $302,175.24 $19,838.00 $1,477,824.76
90 $ 22,175.24 $ 92.40 $302,267.64 $19,907.60 $1,497,732.36
91 $ 2,267.64
