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<br />Linda J. Bassi, Esq. <br />September 12, 1997 <br />Page 12 <br /> <br />* <br /> <br />The document should provide that any interest generated by the account holding <br />assessment revenue shall be distributed to HCWUA. <br /> <br />Assignment of Deposit Account as Security - Appendix 9 <br /> <br />* <br /> <br />This document does not define the term "Deposit Account." Ifit is intended to apply <br />to the debt reserve payments requested in the body of the loan contract, HCWUA <br />believes that such payments are inappropriate, for reasons discussed above. <br /> <br />CONCLUSION <br /> <br />HCWUA appreciates your good work in drafting the complex documents to implement the <br />loan transaction. We would be pleased to meet with you to discuss our comments and any other <br />issues that may remain, to provide you with a re-draft, and to work with you in developing the final <br />language for the documents. Please let either one of us know when it would be convenient for you <br />to continue this dialogue. <br /> <br />Sincerely, <br /> <br />.I.' PARCEL,MAURO,~TIN &SPAANSTRA,P.C. <br /> <br />IUditHM,v tf. I..l:u ~ =- <br /> <br />William A. Hillhouse II <br /> <br />~Ji.mt- <br /> <br />Randall G. Alt <br /> <br />W AH/c1w <br /> <br />cc: Mr. Hal D. Simpson <br />Mr. Joseph Grantham <br />Mr. John Van Sciver <br />J an Illian, Esq. <br /> <br />0137258.02 <br />