Laserfiche WebLink
SCHMIDT, HOREN & LOCKWOOD LLP <br />j A Partnership of Professional Entities <br />Attorneys and Counselors at Law <br />1050 17" STREET, SUITE 1700 <br />DENVER, COLORADO 80265 <br />. TELEPHONE (303) 436-9121 <br />FAX (303) 436-9648 <br />www.schmidthoren.org <br />KAREN K. HOILAND <br />ROBERT P. HOREN <br />DAVID L. LOCKWOOD <br />MARK D. MASTERS <br />JULIA GRIFFITH MCVEY <br />MICHELLE BARNES RUBIN <br />L. WILLIAM SCHMIDT, JR. * <br />• Of Counsel to McGuane and Hogan. LLP <br />November 3, 2006 <br />Mr. Roy Hocker <br />Hocker Construction Company <br />P.O. Box 627 <br />Ignacio, CO 81137 <br />. Re: Zellitti Properties <br />Dear Mr. Hocker: <br />Of Counsel: <br />PETER M. MITERKO <br />Direct Dial: (303) 224-7799 <br />Direct Fax: (720) 493-0774 <br />LEGAL ASSISTANTS: <br />Mary Busse <br />Mark Donovan <br />Lori R McCasky <br />Pamela Nooner <br />Sereena L. SaLano <br /> <br />This letter is written to you with regard to your mineral extraction agreement on property <br />located in LaPlata County. Wilma Zellitti has described to me the meeting she recently had <br />with you and her brother-in-law, Anthony Zellitti . As you may know, the property you are <br />currently leasing; and the proposed additional property which you intend to lease; are owned <br />jointly by Anthony Zellitti ( as to an undivided 3/4 interest) and Zellitti Properties, a <br />partnership, (as to an undivided 1/4 interest). Zellitti Properties was formed to hold an <br />undivided 1/4 interest on behalf of Louis A. Zellitti (now deceased) and Wilma I. Zellitti A <br />copy of the deed to Zellitti Properties is enclosed. <br />In the past, it is our understanding that your lease was in the pole name of Anthony Zellitti <br />and did not reflect the interest of Zellitti properties. Anthony and his wife Marilyn, over the <br />years have kindly taken the responsibility of collecting the. lease payments, deducting <br />appropriate expenses, and distributing to Mrs. Zellitti her portion of the net lease income. <br />However, as the amount of lease income has increased overthe years I have informed Wilma <br />that she has a partnership fiduciary obligation to more carefully review this business <br />arrangement, especially with respect to any new leases. <br />;Brr EXH iY <br />ANIMAS REPORTING SERVICE