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TIMOTHY ROSE CONTRACTING, INC. <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31, 2007 <br />NOTE 5: LONG TERM DEBT <br />Long term debt at December 31, 2007 consists of the following notes payable which <br />were all collateralized by construction equipment and vehicles: <br />Monthly Interest Maturity Balance <br />Holder Installment Rate Date Due <br />Catepillar Finance $ 11191 4.90% February 2010 $ 29,269 <br />Ford Credit 733 4.98% December 2011 31,847 <br />Hypac Compactor 11126 0.00% August 2008 8,685 <br />GMAC 11096 0.00% December 2012 651757 <br />Case Credit 31483 Prime+ .15% March 2008 121266 <br />Velde Ford 933 3.90% January 2008 862 <br />Sun Trust 11594 6.06% April 2008 73854 <br />Hitachi Credit 713 5.65% January 2011 24,173 <br />Ford Motor Credit 770 2.94% December 2008 91049 <br />Komatsu Financial 988 0.00% January 2008 51929 <br />Ford Credit 895 3.90% December 2011 39,669 <br />Riverside Bank 990 7.25% November 2009 21,203 <br />256,563 <br />Less: Current Portion 105,955 <br />Total $150,608 <br />Maturities of long term debt are as follows: <br />Year ending, <br />December 31, Amount <br />2008 $105,955 <br />2009 621586 <br />2010 411993 <br />2011 321880 <br />2012 13,149 <br />$256,563 <br />8 <br />