Charles R. Bowden and Sue I. Bowden - Page 16

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                  On August 21, 1989, petitioners’ attorney, Mr. Handel, wrote                         
            to Prudential Bancorp’s attorney to confirm his understanding                              
            that pursuant to the settlement, Prudential Bancorp would                                  
            “immediately release any and all interests” in the vending                                 
            machines.                                                                                  
                  6.  Crestwood Property                                                               
                  Petitioners purchased the Crestwood undeveloped land during                          
            1983 for $375,000 and in 1984 borrowed $1.4 million from                                   
            Concordia Bank to construct a residence.  Concordia Bank received                          
            a security interest in the Crestwood property.  Petitioners                                
            completed construction of a 12,000-square-foot, three-story,                               
            four-car-garage residence in October 1986.                                                 
                  The Crestwood property was flooded twice during December                             
            1987.  On or about December 6, 1987, a few days after petitioners                          
            moved in, sewage backed up, contaminating the first floor of the                           
            house.  Within a week, a windstorm caused flooding and wind                                
            damage to the property.  For example, it blew out all the windows                          
            in the house.                                                                              
                  During June 1988, another flooding incident occurred at the                          
            Crestwood property.  The floods destroyed some of petitioners’                             
            personal and corporate records as well as personal property.  The                          
            destroyed records were discarded by workers who were cleaning up                           
            the flood damage.                                                                          







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