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<br /> . .
<br /> EXHIBIT 1 TO SCHEDULE 1
<br /> PRESENT VALUE ANALYSIS
<br /> Estimated Semi Annual Cumulative
<br /> Tax P. V. P. V.
<br />Date Increment Balance Balance
<br />12/01/97 0 0 0
<br />06/01/98 0 0 0
<br />12/01/98 0 0 0
<br />06/01/99 0 0 0
<br />12/01/99 0 0 0
<br />06/01/00 3,757 3,243 3,243
<br />12/01/00 3,757 3,125 6,368
<br />06/01/01 74,017 59,348 65,716
<br />12/01/01 74,017 57,203 122,918
<br />06/01/02 83,093 61,896 184,814
<br />12/01/02 83,093 59,659 244,4 73
<br />06/01/03 91,698 63,457 307,929
<br />12/01/03 91,698 61,163 369,092
<br />06/01/04 97,247 62,520 431,613
<br />12/01/04 97,247 60,260 491,873
<br />06/01/05 102,964 61,496 553,370
<br />12/01/05 102,964 59,274 612,643
<br />06/01/06 108,851 60,398 673,041
<br />12/01/06 108,851 58,215 731 ,256
<br />06/01/07 114,916 59,237 790,493
<br />12/01/07 114,916 57,096 847,589
<br />06/01/08 121,162 58,023 905,613
<br />12/01/08 121 , 162 55,926 961,539
<br />06/01/09 127,595 56,767 1,018,306
<br />12/01/09 127,595 54,715 1,073,021
<br />06/01/10 134,222 55,477 1,128,498
<br />12/01/10 134,222 53,4 71 1,181,969
<br />06/01/11 141,047 54,159 1,236,129
<br />12/01/11 141,047 52,202 1,288,330
<br />06/01/12 148,078 52,823 1,341,153
<br />12/01/12 148,078 50,914 1,392,067
<br />06/01/13 155,319 51 ,4 73 1,443,540
<br />12/01/13 155,319 49,613 1,493,153
<br />06/01/14 162,777 50,116 1,543,269
<br />12/01/14 162,777 48,304 1,591,573
<br />06101/15 170,459 48,756 1,640,328
<br />12/01/15 170,459 46,993 1,687,322
<br />06/01/16 178,372 47,397 1,734,719
<br />12/01/16 178,372 45,684 1,780,403
<br />06/01/17 186,522 46,045 1,826,448
<br />12/01/17 186,522 44,381 1,870,829
<br />06/01/18 194,916 44,702 1,915,530
<br />12/01/18 194,916 43,086 1,958,616
<br />06/01/19 203,562 43,371 2,001,987
<br />12/01/19 203,562 41,803 2,043,790
<br />06/01/20 212,468 42,055 2,085,845
<br />12/01/20 212,468 40,535 2,126,380
<br />06/01/21 221,641 40,756 2,167,136
<br />12/01/21 221,641 39,283 2,206,420
<br />06/01/22 231,089 39.477 2,245,897
<br />12/01/22 231,089 38,051 2,283,948
<br />06/01/23 240,820 38,220 2.322,167
<br />12/01/23 240,820 36,838 2.359.006
<br />06/01/24 250,843 36,985 2,395,990
<br />12/01/24 250,843 35,648 2,431,638
<br /> 7,514,867 2,431,638 2,431,638
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