Re: Pontiac site - Ledford Agreement

Hi Fred,

I will check with Herman again to get his final comments.

Kay

Fred Mitro@ECT
09/27/2000 03:54 PM
To: Kay Mann/Corp/Enron@Enron
cc: karen.way@piperrudnick.com<, mark.gershon@piperrudnick.com, Rusty
Stevens/Corp/Enron, Ben Jacoby/HOU/ECT

Subject: Pontiac site - Ledford Agreement

Kay:

I spoke with Karen Way this afternoon. She received a call earlier today
from Mr. Ledford's (Pontiac site neighbour) attorney. The attorney called to
say that he had met with the Ledford family this morning to review our
proposed Option Purchase Agreement on the Ledford property (home and land
adjacent to our Pontiac project site). The result of this meeting was that
we "have a deal" subject to the following changes:

1. That the son and daughter-in-law be made parties to the Agreement (they
currently own/reside in the home and have indicated they are ready to sign)
2. That Titan LLC will pay the survey, title search and transfer fees as a
part of the closing costs of the property (approx $3-$5K)

The Ledford family understands that we wish to execute this Agreement prior
to conducting our zoning meetings next Monday and Thursday evening.

Since these changes are relatively minor , I have instructed Karen to revise
the necessary pages of the Agreement and forward copies to the Ledford's
attorney for review (and hopefully execution). Please call/email myself and
Karen with any comments.

Thanks,
Fred