This report shows the results of a Draw Loan specified in support of the Pine Lake HomeSites development project. The results are based on drawing 100% of the eligible costs specified. Draws are scheduled to occur each month during the life of the project. The loan bears interest at 10.000% and interest is scheduled to be accrued, and paid as part of the payments discharging the loan.There are no loan fees projected. The Loan Balance is discharged as sales make payments available. Available Payments are computed as 85% of Net Sales. Subject to these terms and conditions, the maximum loan amount is $1,296,417, occuring in Sep 12. This report shows that the loan is projected to be completely repaid with interest, and $735,926 of excess available payments remain.
TimeDraw RequiredPaymentsInterest AccruedLoan Balance
Feb 12$628,215$5,235$633,450
Mar 12$48,215$5,681$687,346
Apr 12$102,070$6,578$795,994
May 12$153,691$7,914$957,599
Jun 12$88,685$8,719$1,055,003
Jul 12$112,164$9,726$1,176,894
Aug 12$179,687$83,895$10,606$1,283,291
Sep 12$86,306$83,895$10,714$1,296,417
Oct 12$67,296$83,895$10,665$1,290,483
Nov 12$67,296$139,825$10,150$1,228,103
Dec 12$67,296$169,388$9,383$1,135,395
Jan 13$10,266$139,825$8,382$1,014,218
Feb 13$4,266$186,167$6,936$839,253
Mar 13$4,266$139,825$5,864$709,558
Apr 13$4,266$169,388$4,537$548,973
May 13$4,266$139,825$3,445$416,859
Jun 13$4,266$169,388$2,098$253,835
Jul 13$4,266$139,825$986$119,261
Aug 13$4,266$169,388
Sep 13$4,266$156,604
Oct 13$169,388
Nov 13$55,930
Dec 13$85,493
Jan 14$55,930
Feb 14$85,493
Mar 14$55,930
Apr 14$29,563