I would agree.  Good catch.

Just FYI, I'm 99.9% sure we have reached consensus on the Paul Freeman Optionm


   
	Enron North America Corp.
	
	From:  Kathleen Carnahan @ ENRON                           04/03/2001 10:07 AM
	

To: Ann Elizabeth White/HOU/ECT@ECT
cc: Kay Mann/Corp/Enron@Enron, Carlos Sole/NA/Enron@Enron 
Subject: Re: Option to Purchase Form  

Ann Elizabeth,

Since Property is defined in the Option Agreement as "the property we are 
obtaining an option on", and it is my understanding that the section 
regarding easements is to be used when we want to reserve the right to obtain 
an easement from the Optionor on any adjoining property owned by the 
Optionor, shouldn't we use a small p when referring to the property we may or 
may not want an easement on and replace "the" with "additional" (in red 
below) or "adjoining"?

Kathleen


4. Easements
If at the time of conveyance of the Property to Optionee, Optionee determines 
in its sole discretion that it is desirable to obtain easements over 
additonal the Pproperty owned by Optionor, Optionor shall grant the necessary 
easements to Optionee for no additional consideration.  In selecting the P
property for the easements, Optionee agrees to use its reasonable efforts to 
minimize interference with Optionor,s adjoining acreage, if any.


   
	
	
	From:  Ann Elizabeth White @ ECT                           03/30/2001 10:49 AM
	

To: Kay Mann/Corp/Enron@Enron
cc: Kathleen Carnahan, Carlos Sole/NA/Enron@Enron 

Subject: Option to Purchase Form

Kay

I used your 2001 form and have modified it to show changes I think we should 
make in the form.  Please note that the words I have highlighted in yellow 
are highlighted only to show I've underlined them.  That's purely a stylistic 
thing I do to make it easier to search for a defined term.  I've also 
attached, as part of the document but not as an exhibit, the form of 
Memorandum of Option that I have prepared for the two options I'm working 
on.  This is the form of Memorandum of Option that we use for our Houston 
Pipe Line and Enron Midstream properties.  To make sure that we don't 
inadvertently put a cloud on title, I always put the termination date of the 
option agreement in the document.  If we exercise the option, it is a moot 
point but, if we don't exercise the option, we could cloud the owner's 
title.  It is my intention for the Florida projects that we will always 
endeavor to get a Memorandum filed.