Message-ID: <15182991.1075845905450.JavaMail.evans@thyme>
Date: Fri, 25 May 2001 03:29:00 -0700 (PDT)
From: kathleen.carnahan@enron.com
To: kay.mann@enron.com
Subject: Form of Memorandum of Option Question
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Kay,  Herman suggested the changes to our form of Memorandum (in red).  My=
=20
question is, since we are defining Optionee as "________________________,=
=20
LLC, its designee or permitted assignees"  is it really necessary to includ=
e=20
the second reference to designee or permitted assignees?


This MEMORANDUM OF PURCHASE OPTION (this "Memorandum") is made and entered=
=20
into effective as of the _____________________, 2001 by and between=20
_______________________________ (hereinafter referred to as "Optionor"), an=
d=20
____________________________________, L.L.C., a Delaware limited liability,=
=20
OR ITS DESIGNEE OR PERMITTED ASSIGNEES (hereinafter referred to as=20
"Optionee").  Capitalized terms used but not defined herein shall have the=
=20
meaning given to them in that certain Option to Purchase Real Estate dated=
=20
__________________________, 2001, by and between Optionor and Optionee (the=
=20
=01&Agreement=018).

Optionor and Optionee are parties to the Agreement covering certain real=20
property situated in ____________________________ County, ______________, a=
nd=20
more particularly described on Exhibit =01&A=018 attached hereto and incorp=
orated=20
for all purposes (the =01&Property=018).  Pursuant to the Agreement, Option=
or=20
granted to Optionee an option to purchase the Property (the =01&Option=018)=
, as=20
more particularly described therein, which Option expires _____________=20
(subject to Optionee=01,s rights to extend the Option for ___________ renew=
al=20
term(s) of ______________ (____) months ending ________________________,=20
unless Optionee, ITS DESIGNEE OR ITS PERMITTED ASSIGNEE delivers to Optiono=
r=20
a notice of exercise of its option to purchase the Property prior to such=
=20
expiration date, as may be extended.


Kathleen Carnahan
Enron North  America Corp.
1400 Smith Street, EB 3146d
Houston, TX 77002
Phone - (713) 345-3386
Fax - (713) 646-3037