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0003r _� <br />EXHIBIT "B" <br />DESCRIPTION OF PROJECT <br />The Project consists of the acquisition, construction, <br />improving and equipping of a new seed corn warehouse, machine <br />storage building and related facilities, located on Highway <br />291, approximately two miles south of the city limits of <br />Doniphan, in Hall County, Nebraska, and the acquisition and <br />installation of certain equipment, fixtures and machinery <br />therein, all to be suitable for use in conditioning, handling, <br />storing and preparation for distribution of hybrid seed corn, <br />on land described in Exhibit "A" attached hereto. <br />The estimated cost of the Project and use of Bond Proceeds <br />are as follows: <br />Cost Bond Proceeds <br />Sitework $ 130,570 $ 130,570 <br />Warehouse and Dock 686,295 686,295 <br />Machine Storage Building 36,209 36,209 <br />Lab Remodeling 38,101 38,101 <br />Sign for Plant 4,543 4,543 <br />Employee Lounge 71,120 71,120 <br />Rosa Addition 4,647 4,647 <br />Sizing Tower 1,700,000 28,515 <br />Total $2,671,485 S110001000 <br />To the extent the Series 1985 Bond proceeds are insuffi- <br />cient to pay all costs of the Project, Company is obligated to <br />complete the Project in accordance with the plans and specifi- <br />cations at its own expense. <br />I <br />L L J <br />i <br />