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EXHIBIT C -FINAL DEBT SERVICE SCHEDULE
<br /> Debt Service Schedule
<br /> Date Principal Coupon Interest Total P+I Fiscal Total
<br /> 01/15/2015 - - -
<br /> 08/01/2015 - - 12,567.14 12,567.14 -
<br /> 02/01/2016 20,000.00 0.850% 11,541.25 31,541.25 44,108.39
<br /> 08/01/2016 - - 11,456.25 11,456.25 -
<br /> 02/01/2017 25,000.00 0.850% 11,456.25 36,456.25 47,912.50
<br /> 08/01/2017 - - 11,350.00 11,350.00
<br /> 02/01/2018 25,000.00 0.850% 11,350.00 36,350.00 47,700.00
<br /> 08/01/2018 - - 11,243.75 11,243.75 -
<br /> 02/01/2019 215,000.00 1.050% 11,243.75 226,243.75 237,487.50
<br /> 08/01/2019 - - 10,115.00 10,115.00 -
<br /> 02/01/2020 120,000.00 1.300% 10,115.00 130,115.00 140,230.00
<br /> 08/01/2020 - - 9,335.00 9,335.00 -
<br /> 02/01/2021 190,000.00 1.550% 9,335.00 199,335.00 208,670.00
<br /> 08/01/2021 - - 7,862.50 7,862.50 -
<br /> 02/01/2022 190,000.00 1.750% 7,862.50 197,862.50 205,725.00
<br /> 08/01/2022 - - 6,200.00 6,200.00 -
<br /> 02/01/2023 200,000.00 1.900% 6,200.00 206,200.00 212,400.00
<br /> 08/01/2023 - - 4,300.00 4,300.00 -
<br /> 02/01/2024 200,000.00 2.050% 4,300.00 204,300.00 208,600.00
<br /> 08/01/2024 - - 2,250.00 2,250.00 -
<br /> 02/01/2025 200,000.00 2.250% 2,250.00 202,250.00 204,500.00
<br /> Total $1,385,000.00 - $172,333.39 $1,557,333.39 -
<br /> Dated 1/15/2015
<br /> Delivery Date 1/15/2015
<br /> First Coupon Date 8/01/2015
<br /> First available call date 2/01/2020
<br /> Call Price 100.0000000%
<br /> Bond Year Dollars $9,536.56
<br /> Average Life 6.886 Years
<br /> Average Coupon 1.8070821%
<br /> Net Interest Cost(NIC) 1.9014820%
<br /> True Interest Cost(TIC) 1.9017972%
<br /> All Inclusive Cost(AIC) 2.2296068%
<br /> Bond Yield for Arbitrage Purposes 1.8003301%
<br /> Net Interest Cost 1.8070821%
<br /> Weighted Average Maturity 6.886 Years
<br /> Page 5
<br /> NORTHLAND SECUk1"I'IES
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