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_ ,.., . . _ <br />BUSINESS LOAN REQUEST <br />AUGUST 1996 <br />APPLICANT: Mounds View Fina, A Minnesota General Partnership <br />2280 W. County Rd. I <br />Mounds View, MN 55112 <br />Partners include: <br />Thomas L. Manke Leon M. Theis <br />2011 Brenner St. 4690 Chandler Rd. <br />Roseville, MN 55113 Shoreview, MN 55126 <br />BUSTNESS: Gasoline station with convenience store. There has <br />been a gas station at this site for over 40 years. <br />It has been operated as a Fina for 8+ years. The <br />current owners originally leased the faci.lity in <br />July 1993. They purchased it on a Contract for Deed <br />in October 1994. <br />PROJECT <br />DESCRIPTION <br />FINANCING <br />REQUESTED: <br />Interior and exterior remodel. Installation of new <br />counters, coolers, fixtures, black�op, islands, <br />tanks, pumps, canopy, etc. <br />l. $100,000.00 bank financing <br />10 year term, l0o fixed rate, secured with <br />$50k mortgages on the owners homesteads. <br />Charge for costs {title insurance, MRT, <br />recording) plus $1Q0 documentation fee. <br />2. $ 50,000.00 bank/City "Business Improvment <br />Partnership Program" <br />$25k bank at 110 fixed, 10 years <br />$25k City at 2o fixed, 1.0 years <br />Charge for costs (searches, UCC filing) plus <br />$100 documentation fee. <br />USES/SOURCES: USES <br />$ 81,563 <br />57,670 <br />50,356 <br />16,278 <br />15,300 <br />$221,167 <br />SOURCES <br />$100,000 <br />25,000 <br />25,000 <br />50,000 <br />15,000 <br />6,167_ <br />$221,167 <br />Interior remodeling (Bauer) <br />Exterior demo, tank removal/install. <br />concrete/asphalt, etc. (Zahl) <br />Exterior equipment and canopy (Zahl) <br />Interior equipment/fixtures (AA Eqpt) <br />Used Equipment (Croix Oil) <br />Bank loan secured with residences <br />City portion / BIP Program <br />Bank portion / BIP Program <br />Croix Oil Co. ("Jobber"), 5 years <br />Grant from Croix (forgiven over 5 years) <br />Partnerhip cash <br />