Another email in which funding is promised imminently dated November 15, 2007:
Good afternoon Gil, The following information has been supplied to our lawyers for them to prepare the loan agreement / documentsfor signing by , concerning their project in "The Heights", Houston TexasNAME OF CLIENT :
Houston Texas 77004 U.S.A.
ADDRESS OF PROJECT : Houston, TexasAMOUNT OF LOAN : USD $2,200,000.00 (Two Million Two Hundred Thousand US dollars) INTEREST ON LOAN : 4% (FOUR PERCENT) PER ANNUM - paid quarterly in arrears COST OF BORROWING : 4% (FOUR PERCENT) TO BE WITHDRAWN FROM THE LOAN PROCEEDS. CLIENT'S LAWYERS : , P.C. LAWYER's ADDRESS : Houston, Texas 77027LAWYER's NAME : LAWYER's PHONE No. : (1- Security details will be arranged and confirmed between the two lawyers prior to the loan agreement / documentbeing forwarded to the clients lawyers office. This discussion between the two lawyers will be necessitated to ensurethe requirements of the New Zealand Mortgage Lendor's regulations are complied with. These regulations ensure that the borrower has the security / securities required to effect such borrowings.It is anticipated that the Lawyer will be in position to commence work on the legals and also the financial reporting information to our bankers on Monday (New Zealand time) and once that part is done will be able to contact the lawyerin Texas immediately. We anticipate that settlement could take place as early as your Tuesday if "EVERYTHING" fromboth sides goes thru without a hitch.Best regards, Paul DouglasDirector.
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