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. . <br /> -3- <br /> d. The agreement provides that if NACo is in default on <br /> lease payments for 5 days, all of NACo's rights under <br /> the lease agreement are terminated and in addition, <br /> NACo is responsible for any losses incurred by the <br /> developer during the lease-term. <br /> e. Presently, NACo occupies two floors of the 8 story <br /> building with 5 of the remaining 6 floors leased, but <br /> with rent on one of those floors notrcommencing until <br /> 1 <br /> .1"121y 1, 1983. <br /> f. i After the entire building is rented, NACo is expected <br /> to have a positive cash-flow of some in excess of <br /> $200,000 per year. <br /> IV. State Association Loans ) <br /> As of November 9th, 17 State Associations have made commitments <br /> to loan money to NACo at 10% interest for a 5-year term. Those <br /> 17 States represent loans of $150,000 with $50,000 of that amount <br /> having beef paid-in to date. <br /> attachment • <br /> CRA:lbi <br />