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SALLOUM VENTURES, LLC <br /> <br />5432 HIGHWAY 49 S · P.O. BOX 1315 <br />HARRISBURG, N.C. 28075 <br /> <br />PHONE (704) 455-4551 <br /> FAX (704) 455-4555 <br /> <br />April 5, 2004 <br /> <br />Mr. Jonathan Marshall, AICP <br />Planning Services Department <br />Government Center <br />PO Box 707 <br />Concord, NC 28026-0707 <br /> <br />RE: Cabarrus Bank Building <br /> <br />Dear Jonathan: <br /> <br />Thank you for your continued consideration of our bid proposal for the Cabarrus Bank <br />building. <br /> <br />We hereby submit alternative proposals for your consideration: <br /> <br />Alternate #1: Straight Purchase <br /> Purchase Price: $1,155,000 <br /> Terms & Timetable: Same as original proposal <br /> <br />Alternate #2: County Lease-back Option <br /> This alternate will take into consideration our need for a quality and highly rated <br /> tenant and the county's need for short term Class 'A' office space without acquiring <br /> the burden of long term capital debt. <br /> Purchase Price: $1,300,000 <br /> Terms & Timetable: Negotiable <br /> Leaseback: County to lease back 20,000 +/- square feet of Class 'A' office space <br /> for a period of five years at a fixed rate of $8 per square foot with a $25 per square <br /> foot upfit allowance not to include the cost associated with installing a new elevator. <br /> <br />If either of these Alternates appeals to you, I will be glad to meet with you and Mr. Day and <br />discuss the details so that a complete proposal could be presented to the commissioners for <br />their consideration. <br /> <br />Sam Salloum, <br />Manager <br /> <br />Quality and Value <br /> <br /> <br />