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COLLATERAL ANALYSIS <br />An as -built appraisal will be ordered and submitted to the SBA upon its <br />completion. An analysis based on cost is as follows: <br />Cost of Existing 25,000 Square Foot Building $1,000,000 <br />Total Uses of Funds - New 1.013.000 <br />TOTAL COLLATERAL AVAILABLE $2,013,000 <br />Less: Bank First REM ( 164,079) <br />Less: Bank Second REM (168,150) <br />Less: Bank Third REM ( 500.000) <br />TOTAL COLLATERAL AVAILABLE TO SB SPEDCO $1,180,771 <br />Less: SBA 503 Loan Fourth REM ( 118,476) <br />Less: SBA 504 Loan Fifth REM ( 413,000) <br />Less: City of Mounds View Loan Six REM ( 50.000) <br />EXCESS COLLATERAL $ 599,295 <br />Based on cost, the SBA/SPEDCO is in a 70 percent loan -to -value <br />position. <br />MANAGEMENT/OWNERSHIP <br />The company ownership and management is broken down as follows: <br />NAME <br />POSITION PERCENT OWNERSHIP <br />Dennis Sewill President 33-1/3 <br />Eugene Philipp Vice President 33-1/3 <br />Brian Sjoberg Secretary/Treasurer 33-1/3 <br />JOBS AND ECONOMIC IMPACT <br />As a result of this project, 12 new full-time positions will be added. The <br />increased real estate tax revenues are forecasted at approximately <br />$30,000 on an annual basis. <br />