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. . . CUBELLIS BUSINESS TRUST NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Notc 7 - Long-tcrm Debt (Continued) Dell:rred payments due in connection with the acquisition of Ecoplan. P.t\. Payments of $37.500, $50,000 and $50,000 an: due July I. 2007. 200S and 2009, respectively; however, such payments may be further deferred under certain circumstances as delined in the asset purchase agreement. The Company's obligation for such payments is recorded at their present value using a discount rate consistent with the Company's othcr unsecun:d borrowings. lJnsecurec! note payable in the amount of $300.000 issw:d in connection \vith the merger with Mann, Gin, Dubin & Frazier. Ltd. The note is payable in three annual installments of $100.000 plus accrued interest at a rate of the greater of either 5'Yo or the prime rate (8.25% at December 31, 2006). The note is personally guaranteed by the Company's President. Ddl:rn:d payments due in connection with the acquisition of Design Concepts Architects. P.c. Principal payments of $25.000 are due quarterly along with interest at 7.25% through December 2007. Deferred payments due in connection \vith the acquisition of G13QC Architects. P.c. Principal payment of $46,840 are due December 30. 200S \vith acculllulated interest at 3.89%. lkll:rred compensation payments due in connection with the acquisition of Synalovski Gutiern:z Romanik Architects Inc. Payable in momhly installments of $26.258 principal and interest at 5.000;(1 through Junl' 2009. l.ess current portion I'utallong-term portion 154,725 200,000 100,000 46,840 714.325 3,174,512 1,010,175 U.164,J3-Z 154,725 300.000 2.255.656 264,929 S 1~99Ql 727 Future maturitics Illr tllL' remaining term of indebtedness at Decemba 31,2006 arc follows: 2007 20():) 2009 2010 2011 $ 1,010,175 936,538 595,186 452,613 180,000 LJ,174,512 II