Good luck, and fire (release, shoot, fling) straight!

Kay




Herman Manis
09/29/2000 04:28 PM
To: Kay Mann/Corp/Enron@Enron
cc:  

Subject: Re: Ledford agreement - accounting issue  

Good to go.  Talk to you Monday.  May have another deer by then.  North bow 
starts tomorrow.



To: Herman Manis/Corp/Enron@ENRON
cc:  
Subject: Ledford agreement - accounting issue

Are we good to go?

I forgot to show  my husband your pictures.  If it is ok with you, I'll bring 
them back on Monday.

Have a great weekend,

Kay
---------------------- Forwarded by Kay Mann/Corp/Enron on 09/29/2000 04:17 
PM ---------------------------


Fred Mitro@ECT
09/29/2000 04:11 PM
To: Herman Manis/Corp/Enron@ENRON, Kay Mann/Corp/Enron@Enron
cc: Rusty Stevens/Corp/Enron@ENRON 

Subject: Ledford agreement - accounting issue

Herman:

I talked with Karen Way at Piper Marbury Rudnick & Wolfe (our chicago 
counsel) regarding the contingencies section (s.18) of the Ledford land 
option agreement.  She confirmed for me that none of the conditions in 
Section 18 would allow us to recover either the option consideration ($5000) 
or the purchase price ($265,000).  Further, the language at the end of 
Section 20 specifically states that the option consideration is true option 
consideration and is deemed earned by the Optionors upon receipt.

Based upon our discussions this afternoon, I will let Kay know that you are 
comfortable with the agreement being executed in its current form.

Thanks,
Fred