Re: Option to Purchase Form

I would agree. Good catch.

Just FYI, I'm 99.9% sure we have reached consensus on the Paul Freeman Opti=
onm

=20
=09Enron North America Corp.
=09
=09From: Kathleen Carnahan @ ENRON 04/03/2001 10=
:07 AM
=09

To: Ann Elizabeth White/HOU/ECT@ECT
cc: Kay Mann/Corp/Enron@Enron, Carlos Sole/NA/Enron@Enron=20
Subject: Re: Option to Purchase Form =20

Ann Elizabeth,

Since Property is defined in the Option Agreement as "the property we are=
=20
obtaining an option on", and it is my understanding that the section=20
regarding easements is to be used when we want to reserve the right to obta=
in=20
an easement from the Optionor on any adjoining property owned by the=20
Optionor, shouldn't we use a small p when referring to the property we may =
or=20
may not want an easement on and replace "the" with "additional" (in red=20
below) or "adjoining"?

Kathleen

4. Easements
If at the time of conveyance of the Property to Optionee, Optionee determin=
es=20
in its sole discretion that it is desirable to obtain easements over=20
additonal the Pproperty owned by Optionor, Optionor shall grant the necessa=
ry=20
easements to Optionee for no additional consideration. In selecting the P
property for the easements, Optionee agrees to use its reasonable efforts t=
o=20
minimize interference with Optionor=01,s adjoining acreage, if any.

=20
=09
=09
=09From: Ann Elizabeth White @ ECT 03/30/2001 10=
:49 AM
=09

To: Kay Mann/Corp/Enron@Enron
cc: Kathleen Carnahan, Carlos Sole/NA/Enron@Enron=20

Subject: Option to Purchase Form

Kay

I used your 2001 form and have modified it to show changes I think we shoul=
d=20
make in the form. Please note that the words I have highlighted in yellow=
=20
are highlighted only to show I've underlined them. That's purely a stylist=
ic=20
thing I do to make it easier to search for a defined term. I've also=20
attached, as part of the document but not as an exhibit, the form of=20
Memorandum of Option that I have prepared for the two options I'm working=
=20
on. This is the form of Memorandum of Option that we use for our Houston=
=20
Pipe Line and Enron Midstream properties. To make sure that we don't=20
inadvertently put a cloud on title, I always put the termination date of th=
e=20
option agreement in the document. If we exercise the option, it is a moot=
=20
point but, if we don't exercise the option, we could cloud the owner's=20
title. It is my intention for the Florida projects that we will always=20
endeavor to get a Memorandum filed.