The Corporation of the Township of Ghatsworth

Amortization Schedule for $1,200,000.00 Demand Loan (2319 6008-531)

Loan Value

Monthly Principal
Monthly lnterest at Prime rate
*taken on22nd of month *taken on last day of month

$1,200,000.00 $6,666.67
$1,193,333.33 $6,666.67
$1,186,666.66 $6,666.67
$1,179,999.99 $6,666.67
$1,173,333.32 $6,666.67
$1,'166,666.65 $6,666.67
$1,159,999.98 $6,666.67
$1,153,333.31 $6,666.67
$1,146,666.64 $6,666.67
$1,139,999.97 $6,666.67
$1,133,333.30 $6,666.67
$1,126,666.63 $6,666.67
$1,119,999.96 $6,666.67
$1 ,1

3,333.29

$1,106,666.62
$1,099,999.95
$1,093,333.28
$1,086,666.61

$6,666.67
$6,666.67
$6,666.67
$6,666.67
$6,666.67

(3o/o

as of todays date)

$3,000.00
$2,983.33
$2,966.67
$2,950.00
$2,933.33
$2,916.67
$2,900.00
$2,883.33
$2,866.67
$2,850.00
$2,833.33
$2,816.67
$2,800.00
$2,783.33
$2,766.67
$2,750.00
$2,733.33
92,716.67

" Since loan was advanced on December 22nd, monthly principal payments of $6,666.67 will be
taken on the 22nd of each month
**lnterest payments are taken on the last day of each month. Since loan is held at variable rate
the interest is calculated based on the # of days in the month.

quotes on Lending Rates for the Biodigester

No principle payback

Rates

CMHC
L5 Year

3.26%
3.73%

20 Year

3s7%

L0 Year

Canadian Pacific Western

10 Year

only

Bank of
15 Year

Montreal

5.25% Fixed rate

No principle payback
without penalty
Prime

2.75% Open principle payback

(currently)

year term

nfrastructure Ontario

L0 Year
L5 Year

20 Year

3.62% Open principle payback

4.L2%
4.42%

BMO

Bank of Montreal

BMo Bank of Montreal

899 2d Avenue East
owen Sound, 0N
N4K 2H2
Tel.:

(519) 376'4130

The Corporation of the Township of Chatsworth

BMO Bank of Montreal Financing
This letter is for discussion and negotiation purposes only and is not a statement of intent
or comm.itment on the part of the Bank or the Borrower

LOAN PURPOSE:

To fund 50% of bio digester plant in partnership with The

Corporation Of The Township of Georgian Bluf.

REPAYMENT:

Repayment to be over 240 months amortization, with

principal payments plus interest payable monthly, subject to
the Bank's right of review at any time and in any event no
less frequently than annually.

If Bio Digester is however treated as an equipment asset and

depreciated over 5 years by accountant, repayment to be
over 84 months amortization.
INTEREST RATE:

A varible rate option is.available for a one year open term

at Prime. As of July l4u', BMO Bank of Montreal prime
rlate is 2.5o/o.

&.-sa

,
A fixed rate option is available & rates will be provided
upon request.

PREPAYMENT ELIGIBILITY

Given 100% of the loan will be held on a variable

floating interest rate, there is no penalty incurred for
prepayment of loan at any time. An interest rate
differential penalty would be incuned ONLY if loan
were held under a frxed rate option.

Josh Woelfle

Tel. 519-376-4372
Fax. 519-376-6917
joshua.woelfl e@bmo.com
,\

menrbcrof BIvtO

Finatrc

(;roup

- (qq loe[
rr on

1rs.

BMO

Bank of Montreal

BMO Bank of Montreal

899 2nd Ave East
Owen Sound,Ontario N4K 5P3

Tel.:519-376-4130
Fax:519-371-4565

LETTER OF INTENT

TO:

The Corporation of the Township of Chatsworth

RE:

Bio Digester Financing

IN CONSIDERATION of the financial

request to fund a Bio Digester project, BMO

Bank of Montreal conftrms that financing has been arrangecl and is ready foi avance
subject to terms and conditions as discussed with our client.

DATED

at )u t

Soortd

Ontariothis9

day

of SEle^6ef

,2010

Woelfle
Commercial Account Manager

Ave East
Owen Sound, Ontario
Ph:519-376-4372
8gg

2nd

Fax: 519-376-6917

;\ nrcnrlx'rof BIO

l'inDcl Croup

B-

APPENDIX

FINANCING PLAT
FTCOTflRACT

m':i::

or{TARtof,PtOWtf AtfllOtY La

FORM OF FIMNCING PTAN

F.re7.re.7

ffi

.povrrantlrclty, on.cr

FlT.Conacl@powerauority.on.ca
Capitallzed tems nol defined hercin have the meanirs ascribed

heb

in ths FIT Conrac,t

hr
r,'.'

,..

.,j

..j-

:.. .

..

tblrof

Cottffiklctllcdonl

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e+,n2o,

rrra

uMcot- *,<z Fit*t

"f: f.1*,-

F-Oooq gI - rG,- l3o -Zo3

(tho"FfTconhacf)

Te Supplier ls submitting he following financing lnformaon in support of lts Noce To Proceed Request punuant to
&e requkemenb of S,lion 2.4 (bXl of the Contact:

Ddpil olnarrcrofcqufft
lbrdhe
Drtrlpon
Itnnolrn.

of

qrc

ol

d.

Comtntltttdtd
Foof of lufidfi frndr {rdpd

EYES

Eruo

EYEs

ENO

The Suppller rprssonb to fte OPA ftat all he statements, dta, and lnfomation set out ln this Financing Pln are
complete and aunte in all material respec{s, and there is no matedal infomaon omitted from hls Financing Plan
trnt makes

Signed

is

p infomaton ntainod hereh misleading or inacorate.

day

of
[Legd ]bme of theSuppllcl

Pe
Name:

e:

t4

Date of Advance December 22,2010 Original Loan $1,200,000.

Payment
Interest

Month

Jan

Feb

Mar
Apr
May
Jun

Jul

Aug
sep
Oct

Nov
Dec
Jan

Feb

Mar
Apr
May
Jun

Jul

Aug
sep
Oct

Nov
Dec
Jan

Feb

Mar

Apr
May
Jun

Jul

Aug
sep
Oct

Nov
Dec

Year
20tt
6666.67
20tt
6666.67
20tt
6666.67
20tI
6666.67
20rr 6666.67
20tt
6666.67
20tt
6666.67
20tt
6666.67
20tt
6666.67
20t1 6666.67
20tt
6666.67
20tI
6666.67
20t2 6666.67
20t2 6666.67
20t2 6666.67
2012 6666.67
2012 6666.67
20t2 6666.67
2012 6666.67
2012 6666.67
20t2 6666.67
2012 6666.67
2012 6666.67
2012 6666.67
2013 6666.67
2013 6666.67
2013 6666.67
20t3 6666.67
2013 6666.67
2013 6666.67
2013 6666.67
2013 6666.67
2013 6666.67
2013 6666.67
2013 6666.67
2013 6666.67

Balance

3000.00

1193333.33

2983.33

r186666.66

2966.67

rr79999.99

29s0.00

tt73333.32

2933.33

1166666.65

2916.67

1159999.98

2900.00

1153333.31

2883.33

1146666.64

2866.67

t139999.97

2850.00

1133333.30

2833.33

2816.67

tt26666.63
t1t9999.96

2800.00

1113333.29

2783.33

1106666.62

2766.67

1099999.95

27s0.00

t093333.28

2733.33

r086666.61

27t6.67

\079999.94

2700.00

1073333.27

2683.33

1,066666.60

2666.67

10s9999.93

2650.00

t053333.26

2633.33

1046666.59

2616.67

1039999.92

2600.00

t033333.25

2583.33

1026666.58

2566.67

t0t9999.9r

2550.00

10t3333.24

2533.33

1006666.57

25t6.67

999999.90

2500.00

993333.23

2483.33

986666.56

2466.67

979999.89

2450.00

973333.22

2433.33

966666.ss

24t6.67

959999.88

Jan

2014

6666.67

2400.00

953333.2r

Feb

2014

6666.67

2383.33

946666.54

Mar
Apr
May

20t4
20t4
20t4

6666.67

2366.67

939999.87

6666.67

2350.00

933333.20

6666.67

2333.33

926666.53

Jun

2014

6666.67

23t6.67

919999.86

Jul

2014

6666.67

2300.00

913333.19

Aug

6666.67

2283.33

906666.s2

sep

20t4
20r4

6666.67

2266.67

899999.85

Oct

2014

6666.67

22s0.00

893333.1 8

Nov

2014

6666.67

2233.33

886666.51

Dec

2014

6666.67

22t6.67

879999.84

Jan

2015

6666.67

2200.00

873333.17

Feb

20t5

6666.67

2183.33

866666.s0

Mar
Apr
May

2015

6666.67

2166.67

859999.83

2015

6666.67

2r50.00

853333.16

2015

6666.67

2133.33

846666.49

Jun

6666.67

2116.67

839999.82

Jul

20r5
20ts

6666.67

2100.00

833333. l 5

Aug

2015

6666.67

2083.33

826666.48

sep

2015

6666.67

2066.67

819999.81

Oct

2015

6666.67

2050.00

813333.r4

Nov

2015

6666.67

2033.33

806666.47

Dec

2015

6666.67

20r6.67

799999.80

Jan

2016

6666.67

2000.00

793333.r3

Feb

2016

6666.67

r983.33

786666.46

Mar
Apr
May

20r6

6666.67

1966.67

779999.79

2016

6666.67

1950.00

773333.12

20r6

6666.67

1933.33

766666.4s

Jun

2016

6666.67

1,916.67

7s9999.78

Jul

2016

6666.67

1900.00

7s3333.tr

Aug

2016

6666.67

883.33

746666.44

sep

2016

6666.67

1866.67

739999.t7

Oct

2016

6666.67

18s0.00

733333.t0

Nov

2016

6666.67

1833.33

726666.43

Dec

20t6

6666.67

t8t6.67

7t9999.76

Jan

2017

6666.67

1800.00

7t3333.09

Feb

2017

6666.67

1783.33

706666.42

Mar
Apr
May

20t7
20t7

6666.67

1766.67

699999.75

6666.67

1750.00

693333.08

2017

6666.67

1733.33

686666.41

Jun

2017

6666.67

17t6.67

679999.74

Jul

20t7

6666.67

1700.00

673333.07

Aug

2017

6666.67

1683.33

666666.40

sep

2017

6666.67

1666.67

6s9999.73

Oct

2017

6666.67

1650.00

653333.06

Nov

2017

6666.67

1633.33

646666.39

Dec

2017

6666.67

1616.67

639999.72

Jan

2018

6666.67

1600.00

633333.0s

Feb

6666.67

1583.33

626666.38

Mar
Apr
May

20r8
20r8
20r8

6666.67

1566.67

619999.7r

6666.67

1550.00

613333.04

2018

6666.67

1533.33

606666.37

Jun

2018

6666.67

1516.67

s99999.70

Jul

2018

6666.67

1500.00

593333.03

Aug

20t8

6666.67

1483.33

586666.36

sep

2018

6666.67

t466.67

579999.69

Oct

2018

6666.67

1450.00

s73333.02

Nov

2018

6666.67

t433.33

s66666.3s

Dec

2018

6666.67

1416.67

ss9999.68

Jan

2019

6666.67

1400.00

553333.01

Feb

2019

6666.67

1383.33

546666.34

Mar
Apr
May

2019

6666.67

1366.67

s39999.67

2019

6666.67

1350.00

533333.00

6666.67

1333.33

526666.33

6666.67

t316.67

519999.66

6666.67

1300.00

513332.99

6666.67

1283.33

s06666.32

6666.67

1266.67

499999.65

6666.67

12s0.00

493332.98

6666.67

t233.33

486666.31

Dec

20t9
20t9
20t9
20t9
20r9
20r9
20t9
20t9

6666.67

t216.67

479999.64

Jan

2020

6666.67

1200.00

473332.97

Feb

2020

6666.67

1183.33

466666.30

Mar
Apr

2020

6666.67

1166.67

4s9999.63

2020

6666.67

I150.00

453332.96

Jun

Jul

Aug
sep
Oct

Nov

Jul

2023

6666.67

s00.00

193332.83

Aug

2023

6666.67

483.33

186666.16

Sep

2023

6666.67

466.67

t79999.49

Oct

2023

6666.67

450.00

t73332.82

Nov

2023

6666.67

433.33

t66666.15

Dec

2023

6666.67

416.67

159999.48

Jan

2024

6666.67

400.00

153332.81

Feb

2024

6666.67

383.33

146666.14

Mar
Apr
May

2024

6666.67

366.67

139999.47

2024

6666.67

350.00

133332.80

2024

6666.67

333.33

126666.t3

Jun

2024

6666.67

316.67

119999.46

Jul

2024

6666.67

300.00

113332.79

Aug

2024

6666.67

283.33

106666.t2

sep

2024

6666.67

266.67

99999.45

Oct

2024

6666.67

250.00

93332.78

Nov

2024

6666.67

233.33

86666.1 I

Dec

2024

6666.67

2t6.67

79999.44

Jan

2A2s

6666.67

200.00

73332.77

Feb

202s

6666.67

183.33

66666.10

Mar
Apr
May

2025

6666.67

166.67

s9999.43

2025

6666.67

150.00

53332.76

2025

6666.67

133.33

46666.09

Jun

202s

6666.67

t16.67

39999.42

Jul

202s

6666.67

100.00

33332.75

Aug

2025

6666.67

83.33

26666.08

sep

202s

6666.67

66.67

19999.41

Oct

2025

6666.67

50.00

t3332.74

Nov

202s

6666.67

33.33

6666.07

Dec

2025

6666.07

t6.67

0.00

* The business loan calculator assumes: a constant interest rate throughout the amortization