Karen,

Please provide a redline version of this document against the Fehr option, or 
whichever previous document you started with.  

Thanks,

Kay






"Way, Karen S. - CHI" <karen.way@piperrudnick.com> on 10/16/2000 08:42:52 AM
To: "'fred.mitro@enron.com'" <fred.mitro@enron.com>, 
"'rusty.stevens@enron.com'" <rusty.stevens@enron.com>, "'kay.mann@enron.com'" 
<kay.mann@enron.com>
cc: "Shindler, Donald A. - CHI" <Donald.Shindler@piperrudnick.com>, "Gershon, 
Mark A. - CHI" <Mark.Gershon@piperrudnick.com>, "Townsend, Christopher J. - 
CHI" <chris.townsend@piperrudnick.com> 

Subject: Titan-Schaeffer Option to Purchase


 <<30FK203_.DOC>>
Kay, Fred, and Rusty:

Attached hereto please find the Draft Option to purchase for the
Titan-Schaeffer acquisition in Livingston County, Illinois for your review.
Per Rusty's and my conversation,  the option has 1) a $4000 option payment
for an 18 month term; 2) a $4000 renewal payment for an additional 18 month
term; 3) farm tenancy provisions to allow the Optionor to continue to farm
the land.  Please note we need to order preliminary title on the property to
confirm if the property is held solely by Mr. Schaeffer or if his wife or
other is also a fee holder.  Additionally, on page 7, please let me know
what cap, if any, we are willing to place on reimbursement for soil
preparation costs (we allowed $25 per acre on the Konicek option).  Please
feel free to call me with any questions or comments.  Thanks and talk with
you shortly.

Karen S. Way
Piper Marbury Rudnick & Wolfe
203 N. LaSalle
Chicago, Illinois 60601
email:  karen.way@piperrudnick.com
(ph) 312-368-2152
(fax) 312-630-6347





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 - 30FK203_.DOC