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EXHIBIT I <br /> <br /> (1) Primary_ Beneficiary_ <br /> <br /> Charles E. Fulbright has smoked bar-b-q for retail purposes for over 30 years. Mr. <br /> Fulbright retired last year after working 34 years at Campbells Soup. He has <br /> been smoking bar-b-que commercially for over one year. It is his proposal to provide <br /> Pads with a full service restaurant located in the northeast area of town. <br /> <br /> The new location will be a .516 acre tract of land located at 1490 Fitzhugh Ave. This area, <br /> though chiefly residential is zoned, and is occupied, by various commerdal concerns. <br /> This site is undeveloped and is configured in a 150' x 150' square of open land. <br /> The new building will be a 1,240 square foot flame construction on slab with a pitched <br /> roof. It will have 20 parking spaces of 6,000 s.f., and will provide the neighborhood with a <br /> full service bar-b-q restaurant, to be opened five days a week. They will serve lunch and <br /> dinner with a drive through and take out options. This location is in the northeast part of <br /> the City and is heavily populated. <br /> <br /> This loan orS100,000 represents 50% of the total expense of $200,000. First Federal <br /> Community bank, a local lender, will provide $50,000, or 25%, and the Owner with <br /> $50,000, or 25% in land and equity. This new operation will produce 4 full time johs and <br /> 3 part time jobs over the next 24 months. The Citys' loan would be secured by a second <br /> lien on the land, real estate and improvements. <br /> <br /> <br />