You go girl.


   
	
	
	From:  Kathleen Carnahan                           12/06/2000 03:58 PM
	

To: Kay Mann/Corp/Enron@Enron
cc:  

Subject: Nordstrom land option (Kendall County, IL)

FYI
---------------------- Forwarded by Kathleen Carnahan/NA/Enron on 12/06/2000 
03:56 PM ---------------------------


Fred Mitro@ECT
12/06/2000 03:49 PM
To: Kathleen Carnahan/NA/Enron@Enron
cc: Ben Jacoby/HOU/ECT@ECT, Rusty Stevens/Corp/Enron@ENRON 

Subject: Nordstrom land option (Kendall County, IL)

Kathleen:

The reason for acquiring this option is that Ms. Nordstrom's property is 
approximately 1000 feet from the eastern boundary of the project site.  At 
this distance, the home represents a potential sound receptor for ENA's 
Kendall County development project.  Of course, this is information that 
should not be communicated to non-Enron personnel.

Here are the terms which I would like to incorporate into the first draft of 
the Option Purchase Agreement between Ms. Ann Nordstrom (Optionee) and 
Kendall New Century Development Company, L.L.C. (Optionor):

1.  I would like to use the Fehr Agreement as a template for the Nordstrom 
Agreement (including the "Triggering event" language)
2.  The term of the Option should be for 12 months, with language providing 
for 4 subsequent 12 month extensions.  Each extension would require an 
extension payment to Optionee  (Let's leave this blank - I expect this to be 
the same or close to the up-front option premium amount)
3.  I would like to leave the option premium blank (I expect it to be in the 
$15-25K range)
4.  I would like to leave the purchase price blank (I expect it to be in the 
$200K - $250K range)
5.  I would like to include language that ensures that the Optionee 
(Nordstrom) has the ability to sell the property during the option term (or 
subsequent extensions thereof), provided that Optionor's right to purchase 
transfers with the property to the new Owner (Please confirm the legal 
feasibility of this requirement with me ASAP)
6.  The physical address of the property (approximately 2.3 acres) and home 
is:
 2013 Beecher Road
 Plano, Illinois
 60545
7.  One issue that I am concerned about is maintaining confidentiality of the 
option terms with potential buyers of the Nordstrom property.  Let's discuss 
this issue in greater detail.

As you are aware, Ms. Nordstrom's husband recently passed away after a 
lengthy illness and she is in an emotionally anxious state of mind.  She has 
placed her property and home on the market for $220K  and she is planning to 
close on a new home during the month of December.  My goal is to secure an 
option on her property prior to her selling the home to a non-cooperative 
Buyer.  We need to make sure we exercise the necessary sensitivity and 
respect while dealing with Ms. Nordstrom.

Let me know on the timing of preparing this draft.  I would like to forward 
the draft to Ms. Nordstrom's attorney by Friday of this week.

Thanks,
Fred