- 8 - and later, in the fall of 1993, moved some of its marketing division employees into the building. From 1987 through 1989, NITCO had no plans to build other principal office facilities for itself or to expand and enlarge its offices at 205 North Washington Street. In securing office facilities for NITCO, Mr. Mussman's longstanding practice was to own individually the office building and lease it to NITCO. As the building's owner, Mr. Mussman, rather than NITCO, financed and constructed the building. NITCO's respective lease agreements with Mr. Mussman on the 205 and 301 North Washington Street buildings were entered into prior to each building's construction, so that Mr. Mussman could use the executed lease agreement to secure financing from a lender to construct the building. Mr. Mussman experienced no difficulty in obtaining loans to construct the 205 and 301 North Washington Street buildings. The lease agreements and the mortgages on the buildings served as the security for the lender's loans to Mr. Mussman. No enlargement of NITCO's offices at 205 North Washington Street occurred from 1987 through 1994. C. NITCO's Alcatel Telephone Switching Equipment During 1985 through 1987, NITCO replaced the old switching systems at its five exchanges with new digital switching equipment it purchased from Alcatel, a French manufacturer ofPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011