Q: David, Per the attached, we do have an agreement with Mustang and I am ok with the form. Please see that attached tasking affiliate letter. As for M&H, we will need a scope of services, dates, and payment terms. Please provide this info, and I will prepare the tasking letter.
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A: Mustang PSA

Q: Susan, Attached is the amendment we discussed. We would like to execute this today. Mark indicated that Steve would sign today if everything looks OK. Thanks for your help, Susan.
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A: GCA Amend.

Q: On Thursday, May 25 you were repaid $2,535,786.72 from the refinance of Da= vid's home ($1mm) and my home ($1,535,786). We forwarded the funds to pay= down your personal Bank of Amercia (BA) LOC. The Family Partnership had t= o borrow from your personal line at BA $200,000 to cover the $588k cash ca= ll for SRE properties. With today's closing prices, the Family Partnershi= p's available BA line is between $25k-$50, which is an estimate because mu= tual funds don't post their NAVs until around 5pm (Central time). That ma= kes the Partnership's total payable to KLL/LPL personal line at $1,303,50= 0. =20 I contacted the guys regarding the BBT Fund (Bass family). Per our conver= sation, I told them that the timing was bad, but we did not want to miss o= ut before they close the fund. I indicated that our initial investment wo= uld be the following: KLL/LPL personal $250,000; KLL & LPL Investments, Lt= d. $100,000; Foundation ? (possibly $100,000). The initial investment amo= unt for the partnership, and possibly the foundation, are about as low as = we can go if we want to get into the fund. I am aware that the Foundation= is waiting to as long as possible to pay out any contributions os I wasn'= t sure if we wanted to make something happen there. Also, I indicated tha= t we would prefer to fund as late as possible, which looks like July . I= f we decide on doing something in the foundation they have an Offshore Par= tnership to eliminate the tax implications of UBIT. The Offshore Partners= hip is run exactly the same as the Onshore version, but is unitized and pa= ys a dividend rather than distributions to the investors. Let me know if = the amounts (above) to invest are okay with you and if you want anything i= n the Foundation.
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A: Update - May 25, 2001

Q: (1) I can confirm that the swap group has no financial (or physical) info on Bolivia. You may want to check with Alan on the existence of any specific physical reviews on Bolivia. (2) Do you have some time to discuss the omnibus confirm process? (3) Have you heard further of Duke?
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A:
general