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Philip C. Lacey Shareholder/Director Telephone Extension #112		Email address: placey@gilmorebell.com

April 14, 2004

Mr. Frank S. Reeb, City Clerk

City of Lawrence

6^th & Massachusetts, P.O. Box 708

Lawrence, Kansas  66044-0708

Re:                                          E & E Specialties Industrial Revenue Bonds

Dear Frank:

            We have been working with Matt Hoy, local attorney in Lawrence who represents E & E Display and the White family, to get title to IRB‑financed property transferred back to the proper entities and the records cleaned up.

            We have prepared a resolution for the City governing body approving a special warranty deed and release of lease in connection with payoff of all the bonds and exercise of the company’s option to purchase the property back from the City.  Matt and I are in agreement as to the form of these documents.  We would request that you place the resolution on the City Commission agenda as soon as is feasible and that the special warranty deed and release of lease be executed by the mayor on behalf of the City after adoption of the resolution.

            I do not need copies of these documents.  Matt would like to have a copy of the resolution and the signed and notarized deed and release of lease.  He will then forward them to the trustee bank for signature and get them recorded.

            If you have any questions or need additional information or instructions, please do not hesitate to contact either me or Matt.

                                                                                    Very truly yours,

                                                                                    Philip C. Lacey

PCL/dd

Attachments

cc:     Matthew H. Hoy, Esq.