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“The first payment would come due in October.”

“How much?”

Dennis told him.

Josie inhaled softly at the table.

I kept my face still.

The production sale had been good. Lot 14 had brought the best price in four years. The October payment would swallow that success, take a bite out of the next one, and still ask what else we had.

Wyatt looked at the yellow pad. “And the balance?”

“Due at year end.”

“This calendar year.”

“Yes.”

“That is not twelve months.”

“The accommodation period would govern enforcement and review. The repayment schedule is separate.”

Wyatt’s eyes went flat. “What happens after the year-end payment?” he asked.

“The holder may consider renewal of the remaining facility.”

“May.”

“At the holder’s discretion.”

“Under what criteria?”

“The usual criteria. Payment performance. Collateral position. Operating results.”

“Define the income requirement.”

Another movement of paper.

“The ranch will need to demonstrate outside income adequate to strengthen the debt-service position.”

Boone spoke for the first time. “Outside what?”

Dennis hesitated. Maybe Boone’s voice traveled down a telephone line with the same effect it had in a doorway.

“Outside ordinary cattle operations.”

“Sale doesn’t count,” Boone said.

“The production sale is part of ordinary operations.”

“What counts?” I asked.

Dennis’s voice changed by one careful degree. “Mr. Calloway?”

“Cash. I’m the decorative one.”

Wyatt cut me a look.