CM-1988-001Federal Express
May 19,1988
Mr. Robert L. Bennett
City Manager
City of Round Rock
221 East Main Street
Round Rock, TX 78664
Dear Mr. Bennett:
CORPORATION
857 Grant Street
Denver, CO 80203
(303) 861-9111
(800) 621-9454
I am writing to confirm the discussions held in your offices Tuesday with Messrs. Wallace
Gunderson, John Lohre, and Buster Creagh. We greatly appreciate having the
opportunity to meet with you and with the parties interested in providing land for the
new golf facilities. We are pleased that you will be reaching a decision soon regarding
the selected property and offer to help in the selection process if you desire this
assistance.
The purpose of this letter is to complete a general understanding between First Golf
Corporation and the City regarding the steps which should be taken to implement
construction. We agree with the City that the time to commence work should be on or
around August 1, 1988. Prior to that time, of course, you will be responsible for acquiring
the approximate 170 acre site for the initial 18 -hole course and for undertaking
negotiations to acquire approximately 100 additional acres which will be used for the
construction of another 18 -hole course in the future. During the coming weeks we have
agreed to provide names of several golf course architectural firms. Thereafter, you
should be ready to select one who will prepare a preliminary routing plan. Then, we will
prepare a fairly tight estimate of construction costs. We also understand you will be
receiving a completed preliminary feasibility study which should help define the overall
usage of the course.
We feel it is appropriate at this time to commence drafting of contract documents. By
starting now, we will be able to identify any problems prior to the expenditure of large
architectural fees. Please let us know if you agree with this approach and we will
provide first draft contracts during the next week. When these are completed, we will be
prepared to escrow funds upon your advice to proceed with construction. If these
procedures are appropriate, I would appreciate it if you would sign a copy of' this letter
and return it for our records. This establishes our mutual good faith understanding to
proceed without having a formal contract agreement. Subsequently, if some delay in the
schedule occurs we will at least have accomplished initial contracting procedures so that
we could commence quickly when the project is re-enacted.
Very truly yours,
FIRST GOLF CORPORATION
%/1/
onald V. Barnett
National Marketing Director
DVB:clf
cc: Wallace Gunderson
eAk-166€1— 031
Affiliated with First Municipal Leasing Corporation and Golf, Inc.