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�� ' �ak• aur• r.hra�qh that tho�� lunds could nat b• <br /> �ttachod throuqh a bankruptcy proca�dfnq. Evsn if <br /> . w� have control ov�r thos� �oniya w• only �ould <br /> hav� about 5�3,000 th�t would �r rala��d to in <br /> sos� la�hion to th• subdivid�r and th�r• would <br /> sC��l b� an aciditiQnal S20,o00 n�cea�ary. Thia <br /> vou1Q hav� to b� addr����d. T t��� Chis Wauld t�k� <br /> �t l�asti two to thr�a ws�ks. <br /> Howard: Do you b��i�v• this Wvuid taks p1ac� in two or <br /> thr�� w��k• or �von e month turn around for this, <br /> i! th�y in �act ara not willinq to d�al in good <br /> taith. <br /> Grittithr: It 1• ciiat to m• tRat alt�rnAtivs on• requiris <br /> th� coop�rAt�on ot thi subdivider �nd it thay era <br /> not w�llinq to provid� that c�op�ration, na it <br /> won't bs A�t. You can c�rtAinly dir�ct your <br /> staf� and your attarney to put this as ��attRr ot <br /> priority. Tht qua�tion i• wh�t i• th�ir int�n- <br /> tion. <br /> Ssck�ttt Do w• h�v� tha alt*rnativ� to ask far $150,008 <br /> I.att�r a! Crrdit with an aqr�emont th�t ii' th�y <br /> w�ra to nak� th� improvam�nt� with�n an agra�abl• <br /> ti��, givon �h• ws�th�r conditions, that t�• <br /> I.wtt�= ot Credit would nok b� put inta place7 I• <br /> that an alt�rnativa tor us? <br /> Gxi!liths: C�rtainly W• could negotiat� a LQttor o� CrQdit <br /> and r��y hAV• tihr obliyation undor tha aqreemant <br /> to provid� th�t. W� can sa�k to r�quir� that, w� <br /> c�r insux• that th• vordfnq o! +�ha Lattar ot <br /> Cr�dit �d4quat�ly pratects th• interest o! th• <br /> city wtth a�p�cttic tim� t�bl• and ability to <br /> drav down at th• end a! that time table. This <br /> aqain rwquiro• Che coap���tion o� the eubdividor. <br /> Sack�tt: What i� I w�r� to maGk� th� moti�n that th� i,etter <br /> ot Cr�dit b• for $150,040, that they hav• two <br /> ■onth• to e�tabli�h an agreem�nt and i! �h�y <br /> dan�t do that th�n v• ap4k Zftiqatian. Th� <br /> prr�al�y to= us wo�ld b� that w� Reak litigation on <br /> thi• but th�y hav• tvo month� �o establish <br /> S1�O,G00 LRtt�r o� G�odit with an aqraemont. I! <br /> th�y w�r! to porlorm w� wouZd not colloct ca iG, <br /> but *h�y voul!! hav� to p�rtorm to finish tb� <br /> i�prov�a�nts. Th� only thinq that both�rs m• i� <br /> th• vo�th�r end so I don't know what is <br /> raasonab��. If it W�r• summor I would qiv� th�s <br /> 90 days. <br />