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FEE 12 92 14 : 19 PAGE . 003 <br /> • <br /> V. Samantha Orduno <br /> February 12, 1992 <br /> Page Two <br /> Following certificate completion, all c nditions precedent to <br /> the funding of the final land buy down on the project will be <br /> complete. The total available fund * for site acquisition <br /> ) wee $1, 280, 000, as set forth in e Official Statement. <br /> e .1eviously, the City approved and fun ed our request for land <br /> kluy down in the sum of $704,00 following Building I <br /> completion. The balance for land buy down remaining is - <br /> $57&, 040. Accordingly, we request payment of this amount as <br /> final land buy down pursuant to the Contract. I understand <br /> that an adjustment in amount may be necessary, based upon <br /> funds actually available for distribution. <br /> Once the foregoing request has been reviewed, considered, and <br /> approved, we can discuss timing on the necessary increase in <br /> the letter of credit furnished as collateral as required by <br /> the Contract. <br /> Please call me after you have had an opportunity to review <br /> the foregoing. I look forward to hearing from you in the <br /> near future regarding the foregoing request. Thank you for <br /> your assistance. <br /> Very truly yours, <br /> THE EVEREST GROUP, LTD. - <br /> Allan D. Anderson <br /> is President of Finance <br /> Enclosures <br /> ADA/jk <br />