Memorandum
TO:
FROM:
DATE:
SUBJECT: Progress Report—September 2 through September 14, 19—
Sale of Tall Oak Ranch
I have prepared and mailed a letter of intent as preliminary to the contract and am in the process of drafting a full contract. This contract should be ready for your signature October 1. A first draft is attached for your comments about payment schedule.
Payment on Atlanta Land
To Title Option and Loan I have mailed the TFT check for $10,000 for option and TFTG check for $38,000 for the loan. The original executed documents and stock certificates have been filed permanently in Melvin Harris’s office.
Purchase of San Pedro Plant
The deal is on hold, pending your decision on who is going to buy the plant. Warren doesn’t want to spend the cash. Procedures prohibit Metcalf from owning two plants in one county. Benjamin doesn’t want to merge the two county plants he manages, because he’s expecting to market one in the next six months. The owner is determined to close the deal as soon as possible and no later than December 15, 19—.
New Claim Files Opened
1. Claim of fraud—MC 303 ($33,000)
2. Limitation-boundary dispute—BD 4
3. Delinquent tax claim ($1,062)
I will advise you on these details as the claims progress. Please let me know your preference on the Tall Oak Ranch payment schedule and your decision about who will purchase the San Pedro plant.
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