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<br /> <br />City Commission <br /> <br />Norman S. Edelcup <br />Mayor <br /> <br />January 31, 2008 <br /> <br />Lewis J. Thaler <br />Vice Mayor <br /> <br />Via Facsimile & US Mail <br /> <br />Roslyn Brezin <br />Commissioner <br /> <br />Dr. Robert Cornfeld <br />3850 Hollywood Blvd., #400 <br />Hollywood, FL 33021 <br /> <br />Gerry Goodman <br />Commissioner <br /> <br />George "Bud" Scholl <br />Commissioner <br /> <br />Re: Promissory Note <br /> <br />A. John Szerlag <br />City Manager <br /> <br />Hans Ottinol <br />City Attorney <br /> <br />Jane A. Hines <br />City Clerk <br /> <br />Dear Dr. Cornfeld: <br /> <br />Pursuant to our recent discussions, please find enclosed a promissory note which is a <br />component of the Pledge Collateral Agreement. Please note that the Promissory Note <br />becomes null and void upon full payment of the $1.5 million dollars. <br /> <br />I certainly believe that the Promissory Note has resolved the concerns the City raised about <br />the Pledge Collateral Agreement. <br /> <br />If the note is acceptable to you, please execute both originals and return one of them to me. <br /> <br />Thank you for your cooperation in this matter. <br /> <br /> <br />HO/jb <br /> <br />Enclosures <br /> <br />cc: Doug Haag, Asst. City Manager/Finance <br />Fernando Amuchastegui, Asst. City Attorney <br />