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• Coast ruction Investment Management Inc. August 6 , 1985 Marathon Petroleum Company Attn : Carl Abbott 9 Peach Tree Madison , Mississippi 39110 Dear Carl : In regard to our phone conversation of August 5th, I am continuing to work as fast as the government authorities will allow on the development of the parcel . The happenings of recent are as follows . First , United Bank has closed their branch and offered their parcel for sale. An option has been secured on their parcel and I now control all the available lands in the quadrant . Secondly , I have taken in an old and reputable investment firm in Madison , the D.L. Evans Company . The continued work and clout to get full approval needed political ties . Thirdly , as you can see from the enclosed letter drafted by the D. L. Evans Co . , we are accepting a commitment to purchase all the lands , including your parcel . The commitment is naturally con- tingent upon receiving all approvals necessary for development . Fourth , we have gotten the right for sewer extension from M.M. S . D. We have gotten a commitment from the town for bonding for the sewer and roads . Fifth ; we are now going for plat approval . This process ordinarily takes six months at a minimum. It is not uncommon for it to take one to five years . If we do not get into a debate over the public water system, it could reasonably be accomplished by June of next year . If Madison exercises their full territorial rights and requires a full public water system, they could kill the whole project . They have exercised the right in the past to keep develop- ment in the city limits . Of late , they have allowed a couple of exceptions when the land was on the fringe of their three mile territorial limit . 5008 Gordon Avenue • Madison, WI 53716 • (608) 221-8687