Money Borrowed Report

PAGE NO.     1         49000100      Happy Acres Farms                  PERIOD   1-01   THRU   6-30   
   02/11                                                  Y/E 12-31     CB # 1         
                                      M O N E Y   B O R R O W E D   V E N D O R   R E P O R T
                                            THIS REPORT IS BASED ON UNAUDITED INFORMATION
   MO_DA REF# CB ITEM. ENTR  DESCRIPTION                        %   MTRTY CUR/TERM    INTREST  PRINCIPAL   BORROWED     BALANCE 
    VNDR No.- -  - ->  M1NB  1st National Bank & Savings       8.75  6/10 $   7500 PURPOSE--> FARM                                
                             Salem              OR 98001                                                                          
              1              SMITH FARM      * BAL                                 LONG                                87196.00   
    3-31  939 1  800         SMITH FARM                                                          2000.00               85196.00   
    5-16 1190 1  776         INTEREST ON SMITH                                        3371.00                          85196.00   
    5-16 1190 1  800         1ST MORTGAGE                                                         500.00               84696.00   
    6-30 1226 1  776         1ST NATL BK INT                                           131.00                          84696.00   
              1              **                TOTAL                                  3502.00    2500.00        .00    84696.00 * 

    VNDR No.- -  - ->  MFSB  Farmers State Bank               11.50 05/98 $  27534 PURPOSE--> FARM                                
                             Roseville          MN 58000                                                                          
              1              Conslidated Eqip* BAL                                 INTERMED                           154688.00   
    3-29  923 1  800         1ST NATL BK PRINCIPAL                                                500.00              154188.00   
    6-30 1246 1  776         1ST NATL-TRACT INT                                        207.00                         154188.00   
    6-30 1246 1  800         1ST NATL BK PRINCIPAL                                                500.00              153688.00   
              1              **                TOTAL                                   207.00    1000.00        .00   153688.00 * 

    VNDR No.- -  - ->  MMP1  PERSONAL NOTE FROM EDDY                               PURPOSE--> PERSONAL                            
    CKBK No.  1              FROM EDDY       * BAL                                 PAYABLE                               750.00   

    VNDR No.- -  - ->  MOL   1st National Bank                12.00  1/95          PURPOSE--> FARM                                
                             St Paul            MN 56001                                                                          
              1              OPERATING       * BAL                                 SHORT                               85000.00   
    2-31 1172 1  800         PAY ON OPER LOAN                                                   15000.00               70000.00   
    3-31 0939 1  800         pay on oper line                                                   10000.00               60000.00   
    4-08  971 1  800         PAY OPER LOAN                                                       1000.00               59000.00   
    4-31 0970 1  800         PAY ON OPERATING LOAN                                              10000.00               49000.00   
    6-30 1225 1  776         INTEREST ON LINE                                         1331.00                          49000.00   
              1              **                TOTAL                                  1331.00   36000.00        .00    49000.00 * 

    VNDR No.- -  - ->  MPCA  PCA of Minnesota                                      PURPOSE--> FARM                                
                             St Paul            MN 56000                                                                          
                                             * BAL                                                                          .00   
    2-20      1  500         PCA LOAN                                                                       4300.00     4300.00   
    6-12      1  500         PCA LOAN                                                                       4300.00     8600.00   
              1              **                TOTAL                                      .00        .00    8600.00     8600.00 * 
                    *         MONEY BORROWED BEG BAL TOTAL                                                            327634.00 * 
                   **           MONEY BORROWED GRAND TOTAL                            5040.00   39500.00    8600.00   296734.00 **     
   ----- ---- -  ----- ----  -------------------------------- ----- ----- -------- ---------- ---------- ---------- ----------- --
                             BALANCE SHEET INFORMATION                                   FARM   PERSONAL       O.B.               
                               SHORT (NOTES DUE IN 1 YR)                             57600.00     750.00        .00               
                               CURRENT PORTION TERM DEBT                             35034.00        .00        .00               
                               INTERMEDIATE (CHATTELS)                              126154.00        .00        .00               
                               LONG TERM (MORTGAGES)                                 77196.00        .00        .00               
                  ***                              T O T A L  - - - - ->            295984.00     750.00        .00   296734.00 **
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