---------------------- Forwarded by Phillip K Allen/HOU/ECT on 02/21/2001 
03:57 PM ---------------------------


"Jeff Smith" <jsmith@austintx.com> on 02/21/2001 01:24:15 PM
To: <Phillip.K.Allen@enron.com>
cc:  
Subject: leander and the Stage


Phillip,

I spoke with AMF's broker today, and they will be satisfied with the deal if
we can get the school to agree to limit the current land use restrictions to
the terms that are in the existing agreement.  They do not want the school
to come back at a later date for something different.  Doug Bell will meet
with a school official on Monday to see what their thoughts are about the
subject.  It would be hard for them to change the current agreement, but AMF
wants something in writing to that effect.  I spoke to AMF's attorney today,
and explained the situation.  They are OK with deal if AMF is satisfied.

AMF's broker said that they will be ready to submit their site plan after
the March 29 hearing.  We may close this deal in April.

The Stage is still on go.  An assumption package has been sent to the buyer,
and I have overnighted a copy of the contract and a description of the
details to Wayne McCoy.

I will be gone Thurs. and Fri. of this week.  I will be checking my
messages.

Jeff Smith
The Smith Company
2714 Bee Cave Road, Suite 100-D
Austin, Texas? 78746
512-732-0009
512-732-0010 fax
512-751-9728 mobile