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SPRING PACIFIC PROPERTIES, LLC <br />Via Messenger <br />August 1, 2000 <br />Mr. Gary Phelps <br />CITY OF REDLANDS <br />Dept of Municipal Utilities <br />35 Cajon Street, Suite 15A <br />Redlands, California 92373 <br />RE: AGREEMENT FOR SALE OF WATER STOCK AND TEMPORARY USE OF WATER — EAST <br />HIGHLANDS RANCH <br />Dear Mr. Phelps: <br />Per your request, enclosed you will find two original copies of the agreement for the <br />City's execution. Please note that the Effective Date was changed to August 15t, and the <br />payment dates by our Company for the temporary use of the Stock Water were changed <br />to August 1, 2001 and August 1, 2002. <br />Please call me if you have any questions or need further assistance. Please advise if <br />there are any changes to our meeting this Thursday at 9AM. <br />Thank you, <br />S-P EAST HIGHLANDS, LLC <br />BY: SPRING PACIFIC PROPERTIES, LLC <br />Thuy T. Nguyen <br />Analyst <br />cc: Camille Bahri <br />Encl. <br />15751 ROCKFIELD BLVD., SUITE 100 • IRVINE, CALIFORNIA 92618 <br />PHONE (949) 581-4994 • FAX (949) 581-4137 • E-MAIL SPRNGPACIFIC@EARTHLINK.NET <br />