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i i ; . RE: JOHN Ly LEVIS, ET AL INTERVIEY WITH ROPERT C. SOLOMON “Guaranty: Lessee to deposit in Springfield Merine Bank 400,000 to be held in escrow and invested in Lessor's ectlateral note for that amount, payable to lessee in i:. siit2aliments of $40,000 per year, with 3% interest, by crenit on royelties. The $4CC,000 to be actually used in taking up all indebtedness of Lessor and its Presi- dent to seid Bank including approximately $250,000 in bones = liens on the coal mining properties of Lessor; said donde to be n-t cancelled but held es collateral securicy for the puynens of said collateral note. "Retail GUffice: Lessee to take over Lessor's city retail office rent and other incidental expenses, from the tine cf transfer of possession of mines, "Options: At the expiraticn of the ten year lease, Lessee to have alternate option ‘Or "(s) To purchnse the leased properties for $400,000, plus emounts hereafter paid by Lessor for addi~ tional coal rights, with 3 interest thereon; or, "(B} To renew the lease for enother ten years on some terms, with further option to purchase the lessed properties eat the end of extended period for $100,000, plus amounts hereafter paid by Lessor for additione] coal rights, with 3% interest thereon. "This of course is only for prompt acceptence as to major terms, with the understanding thatinecesscary details be worked out later. Yours truly, President” "July 6$h} 21942 "Mr, Robert C. Bolomon, Fres., "Panther Creek Mines, Inc., SSpringfiela; Ttincts — "Dear Mr. Solamon:<- ~ 456 « re . Ne ee ce eee i rR