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Enron Mail |
You go girl.
From: Kathleen Carnahan 12/06/2000 03:58 PM To: Kay Mann/Corp/Enron@Enron cc: Subject: Nordstrom land option (Kendall County, IL) FYI ---------------------- Forwarded by Kathleen Carnahan/NA/Enron on 12/06/2000 03:56 PM --------------------------- Fred Mitro@ECT 12/06/2000 03:49 PM To: Kathleen Carnahan/NA/Enron@Enron cc: Ben Jacoby/HOU/ECT@ECT, Rusty Stevens/Corp/Enron@ENRON Subject: Nordstrom land option (Kendall County, IL) Kathleen: The reason for acquiring this option is that Ms. Nordstrom's property is approximately 1000 feet from the eastern boundary of the project site. At this distance, the home represents a potential sound receptor for ENA's Kendall County development project. Of course, this is information that should not be communicated to non-Enron personnel. Here are the terms which I would like to incorporate into the first draft of the Option Purchase Agreement between Ms. Ann Nordstrom (Optionee) and Kendall New Century Development Company, L.L.C. (Optionor): 1. I would like to use the Fehr Agreement as a template for the Nordstrom Agreement (including the "Triggering event" language) 2. The term of the Option should be for 12 months, with language providing for 4 subsequent 12 month extensions. Each extension would require an extension payment to Optionee (Let's leave this blank - I expect this to be the same or close to the up-front option premium amount) 3. I would like to leave the option premium blank (I expect it to be in the $15-25K range) 4. I would like to leave the purchase price blank (I expect it to be in the $200K - $250K range) 5. I would like to include language that ensures that the Optionee (Nordstrom) has the ability to sell the property during the option term (or subsequent extensions thereof), provided that Optionor's right to purchase transfers with the property to the new Owner (Please confirm the legal feasibility of this requirement with me ASAP) 6. The physical address of the property (approximately 2.3 acres) and home is: 2013 Beecher Road Plano, Illinois 60545 7. One issue that I am concerned about is maintaining confidentiality of the option terms with potential buyers of the Nordstrom property. Let's discuss this issue in greater detail. As you are aware, Ms. Nordstrom's husband recently passed away after a lengthy illness and she is in an emotionally anxious state of mind. She has placed her property and home on the market for $220K and she is planning to close on a new home during the month of December. My goal is to secure an option on her property prior to her selling the home to a non-cooperative Buyer. We need to make sure we exercise the necessary sensitivity and respect while dealing with Ms. Nordstrom. Let me know on the timing of preparing this draft. I would like to forward the draft to Ms. Nordstrom's attorney by Friday of this week. Thanks, Fred
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