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<br />Consul-Tech Enterprises, Inc. and Subsidiaries
<br />Notes to Consolidated Financial Statements
<br />December 31, 2006 and 2005
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<br />G. Long-Term Obligations
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<br />At December 31,2006 and 2005 long-term obligations consisted of the following:
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<br /> 2006 2005
<br />Notes payable and capital leases with payments ranging from $245
<br />to $1,119, including interest ranging from 6,30% to 13.33%, These
<br />debts mature in various years through 2010, $ 982,858 $ 888,301
<br />Unsecured note payable to a former stockholder. Monthly payments
<br />of $12,150 began in May 2004, Payments include interest at an
<br />annual rate of 4%, This note matures in 2014, 925,306 1,031,799
<br />Unsecured note payable to a former stockholder, Monthly payments
<br />of $7,026 began in August 2005, Payments include interest at an
<br />annual rate of 8%, This note matures in 2008, 87,218 161,307
<br />Unsecured note payable to a former stockholder, Monthly payments
<br />of $8,160 began in May 2005, Payments include interest at an
<br />annual rate of 7,895%, This note matures in 2007, 78,724 166,624
<br />Unsecured note payable to a former stockholder, Monthly payments
<br />of$8,685 began in September 2005, Payments include intereSt at an
<br />annual rate of 8%, This note matures in 2008, 115,718 206,693
<br />Unsecured notes payable to two stockholders, During 2007 unpaid
<br />principal balances will begin to accrue interest at 9%, These notes
<br />are due on demand, 274,905
<br />Note payable with annual payments of $1,000,000 and accrued
<br />interest on the unpaid principal balance at the LIBOR Market Index
<br />Rate plus 1.25%, This note matures in 2010, The Company has
<br />prepaid $1,200,000 as of December 31,2005,' (Note J) 3,325,095 3,800,000
<br /> 5,789,824 6,254,724
<br />Less current maturities 1,573,679 592,707
<br />Long-term debt, net of current portion $ 4,216,145 $ 5,662,017
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<br />The notes payable to banks and other institutions are secured by the Company's assets, The
<br />following is a summary of principal maturities of long-term debt, including the present value of
<br />minimum lease payments on capital leases, for each of the next five years:
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<br />2007 $ 1,573,679
<br />2008 1,403,269
<br />2009 1,408,100
<br />2010 948,690
<br />2011 131,803
<br />Thereafter 324,283
<br />Total $ 5,789,824
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