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Co. in two installments. The letter dated January 8, 1985,
accompanying the first installment provided as follows:
Enclosed is FWID, Ltd. check number 113 in the
amount of $66,507.00. This check represents your
allocable share of the above-mentioned transaction
after reducing your loan from Bruce Frey by one-half,
or $44,194.00.
The following is a brief analysis of the
transaction, your allocable share and a calculation of
the manner in which check number 113 was derived:
1. Gross Sales Price $1,382,575
2. Ownership Percentage of
BJF Development, Ltd.
(11.1895 divided by 63.94 percent) 17.5
3. Allocable Share of Gross Sales
Proceeds 241,950
4. Sales Proceeds Received to Date 632,575
5. Allocable Share of Sales Proceeds
Received to Date 110,701
6. Less: One-Half of Outstanding Loan
from Bruce Frey
($88,388.00 divided by 2) 44,194
7. Check Number 113 $66,507
The letter dated January 24, 1985, accompanying the second
installment provides as follows:
Enclosed please find check number C 1148 in the
amount of $131,250.00. This check represents the
second and final installment payment with regard to
your sale of partnership interest in BJF Development,
Ltd. to TSG Holdings.
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