<html><head></head><body><div style="color:#000; background-color:#fff; font-family:HelveticaNeue, Helvetica Neue, Helvetica, Arial, Lucida Grande, sans-serif;font-size:16px"><div id="yui_3_16_0_1_1480251139392_135393" dir="ltr"><span id="yui_3_16_0_1_1480251139392_135704">I will call your $150,000 and raise it to $207,500. I request we add 20 minutes to the December meeting agenda for a motion </span><span id="yui_3_16_0_1_1480251139392_137190">to make a payment on the principal on our office mortgage.<br id="yui_3_16_0_1_1480251139392_135633"><br id="yui_3_16_0_1_1480251139392_135634">The mortgage's loan rate is 4.85% with a balloon payment at ten years, which is in July 24, 2024. Robert was kind enough to furnish the attached load amortization spreadsheet. I ran five scenarios on it to get the amount of interest we will pay from December 2016 to when the balloon payment is due, and to get the amount of the balloon payment that will be due at that time.<br id="yui_3_16_0_1_1480251139392_135635"><br id="yui_3_16_0_1_1480251139392_135636">Without any more prepayments (not paying an extra $60,000 on odd-numbered years):<br id="yui_3_16_0_1_1480251139392_135637">Interest: $139,400.40<br id="yui_3_16_0_1_1480251139392_135638">Balloon payment due 7/24/2024: $301,040.34<br id="yui_3_16_0_1_1480251139392_135639"><br id="yui_3_16_0_1_1480251139392_135640">With the current policy of paying an extra $60,000 on odd-numbered years:<br id="yui_3_16_0_1_1480251139392_135641">Interest: $84,900.77<br id="yui_3_16_0_1_1480251139392_135642">Balloon payment due 7/24/2024: $6,540.71<br id="yui_3_16_0_1_1480251139392_135643"><br id="yui_3_16_0_1_1480251139392_135644">Paying an additional $207,500 in the December payment, and not paying extra in future years:<br id="yui_3_16_0_1_1480251139392_135645">Interest: $45,751.59<br id="yui_3_16_0_1_1480251139392_135646">Balloon payment due 7/24/2024: $0.00<br id="yui_3_16_0_1_1480251139392_135647"></span></div><div dir="ltr" id="yui_3_16_0_1_1480251139392_137442"><br></div><div dir="ltr" id="yui_3_16_0_1_1480251139392_137434"><span id="yui_3_16_0_1_1480251139392_137430">Paying an additional $150,00 in the December payment, and paying an extra $60,000 on odd-numbered years:<br id="yui_3_16_0_1_1480251139392_137431">Interest: $32,805.22<br id="yui_3_16_0_1_1480251139392_137432">Mortgage gets paid off July 2021.<br id="yui_3_16_0_1_1480251139392_137433"></span><br></div><div dir="ltr" id="yui_3_16_0_1_1480251139392_137425"><span id="yui_3_16_0_1_1480251139392_137190">Paying an additional $207,500 in the December payment, and paying an extra $60,000 on odd-numbered years:<br id="yui_3_16_0_1_1480251139392_135649">Interest: $19,879.20<br id="yui_3_16_0_1_1480251139392_135650">Mortgage gets paid off May 2020.<br id="yui_3_16_0_1_1480251139392_135651"><br id="yui_3_16_0_1_1480251139392_135652">As you can see, paying $207,500 in December will eliminate having a balloon payment in 2024 and will save at least $39k in interest. If we keep the Weiner rule, it will save $65k in interest and have the mortgage paid off four years early. </span><span id="yui_3_16_0_1_1480251139392_135659"><span id="yui_3_16_0_1_1480251139392_137191">The targeted Reserve is the sum of all monthly occupancy, labor and governance expenses, which comes to $45,292.</span> At the end of October, the reserve was at $415,669, so I am comfortable with paying $207,500, even if next year's budget has a large deficit. We will have new reserve number before the meeting.<br id="yui_3_16_0_1_1480251139392_135653"><br id="yui_3_16_0_1_1480251139392_135654">The trust from a bequest has $167,404. We have been taking the maximum allowable amount out each year for the general fund. A law passed December 2014 now allows national political committees to have a separate segregated building fund with its own contribution limit of three times the limit for the general fund. We have not done this before, because we needed the bequest for the general fund, but we can transfer up to $100,200 from the bequest to the building fund and use those funds toward making a payment on the mortgage principal.<br id="yui_3_16_0_1_1480251139392_135655"><br id="yui_3_16_0_1_1480251139392_135656">My preference is to pay at least $207,500 toward the mortgage principal to save on interest payments and to ensure no balloon payment. If that passes, then I would favor reducing the policy to budget an extra $60k on odd years.<br id="yui_3_16_0_1_1480251139392_135657"><br id="yui_3_16_0_1_1480251139392_135658">Tim Hagan</span><br></div><div class="qtdSeparateBR" id="yui_3_16_0_1_1480251139392_135382"><br></div><div class="yahoo_quoted" id="yui_3_16_0_1_1480251139392_135387" style="display: block;"> <div style="font-family: HelveticaNeue, Helvetica Neue, Helvetica, Arial, Lucida Grande, sans-serif; font-size: 16px;" id="yui_3_16_0_1_1480251139392_135386"> <div style="font-family: HelveticaNeue, Helvetica Neue, Helvetica, Arial, Lucida Grande, sans-serif; font-size: 16px;" id="yui_3_16_0_1_1480251139392_135385"> <div dir="ltr" id="yui_3_16_0_1_1480251139392_135384"> <font id="yui_3_16_0_1_1480251139392_135383" size="2" face="Arial"> <hr id="yui_3_16_0_1_1480251139392_138736" size="1"> <b><span style="font-weight:bold;">From:</span></b> Sam Goldstein <goldsteinatlarge@gmail.com><br> <b><span style="font-weight: bold;">To:</span></b> lnc-business@hq.lp.org <br> <b><span style="font-weight: bold;">Sent:</span></b> Sunday, November 27, 2016 8:11 AM<br> <b><span style="font-weight: bold;">Subject:</span></b> [Lnc-business] Added Mortgage Payment<br> </font> </div> <div class="y_msg_container" id="yui_3_16_0_1_1480251139392_135414"><br><div id="yiv7785925584"><div dir="ltr" id="yui_3_16_0_1_1480251139392_135413">I intend to make a motion at our next meeting to spend a good portion of our 2016 surplus to make a payment on the principal on our office mortgage. <div id="yui_3_16_0_1_1480251139392_135412"><br></div><div id="yui_3_16_0_1_1480251139392_135416">Not knowing our final numbers at this time lends some uncertainty to that number, but I would like to start the bidding at $150,000. That amount ought to leave us in a very favorable position as to our ongoing reserve for unforeseen expenses over the next few years.</div><div><br></div><div id="yui_3_16_0_1_1480251139392_137560">Does anyone want to offer a lower/higher amount? If so, what is your reasoning.</div><div id="yui_3_16_0_1_1480251139392_135418"><br></div><div>Thanks and </div><div id="yui_3_16_0_1_1480251139392_135420"><br></div><div id="yui_3_16_0_1_1480251139392_135422">Live Free,<br><div id="yui_3_16_0_1_1480251139392_135424"><br></div><div id="yui_3_16_0_1_1480251139392_135426"> <br clear="all"><div id="yui_3_16_0_1_1480251139392_135430"><div class="yiv7785925584gmail_signature" id="yui_3_16_0_1_1480251139392_135429"><div dir="ltr" id="yui_3_16_0_1_1480251139392_135428">Sam Goldstein<div id="yui_3_16_0_1_1480251139392_138796">Libertarian National Committee</div><div id="yui_3_16_0_1_1480251139392_135432">Member at Large</div><div id="yui_3_16_0_1_1480251139392_138799">8925 N Meridian St, Ste 101</div><div id="yui_3_16_0_1_1480251139392_135560">Indianapolis IN 46260</div><div id="yui_3_16_0_1_1480251139392_135434">317-850-0726 Phone</div><div id="yui_3_16_0_1_1480251139392_135502">317-582-1773 Fax</div></div></div></div>
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