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<br />SBLM ARCHITECTS, P,C. <br />(AN S CORPORATION) <br /> <br />NOTES TO FINANCIAL STATEMENT <br /> <br />DECEMBER 31, 2009 <br /> <br />NOTE 5 - LONG-TERM DEBT <br /> <br />Long-term debt consists of the following: <br /> <br />Description <br /> <br />Interest <br />Rate <br /> <br />Due <br />Date December 31. 2009 <br /> <br />Note payable to bank in monthly <br />Installments of $2,140 including interest, <br />Secured by the assets of the company <br /> <br />7.00% <br /> <br />2012 $ 67,487 <br /> <br />Less: current maturities <br /> <br />21.588 <br />$ 45.899 <br /> <br />Non-current portion <br /> <br />Long-term debt matures as follows: <br /> <br />Fiscal year ending December 31 : <br /> <br />2010 <br />2011 <br />2012 <br /> <br />21,588 <br />23,149 <br />22.750 <br /> <br />Principal payments remaining <br /> <br />$ 67.487 <br />