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S-4/A
CHARTER COMMUNICATIONS HOLDINGS CAPITAL CORP filed this Form S-4/A on 06/22/1999
Entire Document
 
<PAGE>   403
                         INDIANA CABLE ASSOCIATES, LTD.
 
                  NOTES TO FINANCIAL STATEMENTS -- (CONTINUED)
 
$7,500,000. At December 30, 1998, the term note and revolving credit had a
balance of $7,500,000 and $1,950,000, respectively; at that date, the total
balance of $9,450,000 and accrued interest were paid in full. The Partnership
also incurred a LIBOR break fee of $2,170 in conjunction with the retirement of
debt which was recorded as an extraordinary item.
 
     Also on December 30, 1998, the Partnership obtained a new interpartnership
loan agreement with ICP (Note 1). Borrowing under the interpartnership loan, as
well as interest and principal payments are due at the discretion of the
management of ICP, resulting in no minimum required annual principal payments.
The balance of the interpartnership loan at December 31, 1998 was $9,606,630.
The effective interest rate at December 31, 1998 was 8.5%.
 
5.  MANAGEMENT AGREEMENT
 
     The Partnership has entered into a management agreement with Rifkin and
Associates, Inc., (Rifkin) whose sole stockholder is affiliated with a general
partner of the Partnership. The agreement provides that Rifkin shall manage the
Partnership and shall receive annual compensation equal to 2 1/2% of gross
revenues and an additional 2 1/2% if a defined cash flow level is met. Effective
September 1, 1998, Rifkin conveyed its CATV management business to R & A
Management, LLC (RML). The result of this transaction was the conveyance of the
Rifkin management agreement (Rifkin Agreement) to RML (RML Agreement). Expenses
incurred pursuant to the Rifkin Agreement and the RML Agreement are disclosed on
the Statement of Operations.
 
6.  LEASE COMMITMENTS
 
     At December 31, 1998, the Partnership had lease commitments under long-term
operating leases as follows:
 

<TABLE>
<S>                                                     <C>
1999..................................................  $27,408
2000..................................................    6,300
2001..................................................    2,700
2002..................................................    1,500
2003..................................................    1,500
Thereafter............................................   10,500
                                                        -------
          Total.......................................  $49,908
                                                        =======
</TABLE>

 
     Rent expense, including pole rent, was as follows for the periods
indicated:
 

<TABLE>
<CAPTION>
                                                        TOTAL
                                                        RENTAL
PERIOD                                                 EXPENSE
------                                                 --------
<S>                                                    <C>
Year Ended December 31, 1996.........................  $105,590
Year Ended December 31, 1997.........................    98,693
Year Ended December 31, 1998.........................   104,155
</TABLE>

 
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