Billy, 

It is expected that by the time the hard costs referenced in #2 are incurred, 
the project will be in E Next (or its successor/take out vehicle) since 
construction will be nearly complete.  Costs incurred in #3 should be Phase 2 
E Next costs, since this should be in the construction period, although it 
could be immediately prior to that time.  

Lisa, I skipped Rose on this email since she is out of town, and reviewed 
this agreement before she left.


Kay


From: William Fleenor/ENRON@enronXgate on 06/04/2001 09:46 AM
To: Kay Mann/Corp/Enron@Enron
cc:  

Subject: RE: Deerfield development agreement

See comments therein.





 -----Original Message-----
From:  Mann, Kay  
Sent: Friday, June 01, 2001 2:01 PM
To: Fleenor, William
Subject: Deerfield development agreement

Hi Billy,

Can you take a look at this since the Hermanator is out?

Thanks,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 06/01/2001 02:00 
PM ---------------------------


Kay Mann
05/31/2001 06:48 PM
To: Lisa Bills/Enron@EnronXGate, Herman Manis/Enron@EnronXGate, Roseann 
Engeldorf/Enron@EnronXGate
cc: Ben Jacoby/Enron@EnronXGate, Steven Krimsky/Enron@EnronXGate 

Subject: Deerfield development agreement

Hello.

The commercial team  has asked that I forward this document to you for 
review.  It is a development agreement for a project in Florida.  We have 
attempted to address the accounting/E-Next issues, but please advise of any 
desired changes.

Thank you,

Kay

 << File: Deerfield development ag May 31.DOC >> 

PS  Pardon the formatting.  It will be cleaned up by those with the ability 
to do so.