o JOSEFM E& RESIDENT OLSEN AGENT INSURANCE PACIFIC 201 TELEPHONE DOUGLAS 9247 We ICAKAUXEOEREVARD DEPARTMENT SANSOME STREET GLENDALE, SAN FRANCISCO November Mr. Val Ae 1205 Pirst-Security Ogden, Dear .. 510 . Place Galer CALIFORNIA 10, 19356. Browning, Bank Bldg, Utah. Val: Have an offer from Mr. Herman the San Fernando Real Estate broker,made Farland, for the leasing for and in behalf of a John Russel and Thomas Mc of the Coliseum Plunge. The purpose to which they propose to put the property is for staging of boxing and wrestling bouts. They are to take the property in its "as is" condition and defray all expenses of repairs they may desire made for their use. I will have proper notice filed of record in the Los Angeles court house to the effect that the owner of the prop- erty will not be responsible for any labor or materials furnished or 6x= pended thereon and etc. The rent will be $50.00 for January; $50.00 for February and $75.00 monthly for the remaining months of 1957. These people want an option to buy the property at $7000e004 I think, however, we should just give them the first refusal of the property at whatever we may as receive of their lease draws to submit a bonafide offer a bonafide offer from someone else they still have their interest by meeting such offer. This will be venture may not continue for Have an offer from the Water Softener Los Angeles consisting of 3— 96" This, of course, inatore filters, the of 4157 Beverly equiyment complete, centrifugal pump, only their represents happen that we were to make Company filtering Service for for $400.00 Boulevard, right to protect better for us as days. 90 their the the year the it they can should we get if they still desire to buy acceptance. In the meantime a close for our as Then buyer. prospective anyother from offer an an arrangment box and chlor- value. If it should the property as a switch junk to operate plunge it would take several thousands of dollars to replace fore, do you think it best to let the equipment remain there this. Therepending the definite accept this Eventho' the equipment is constantly depreciatingwe could another such offer for it in a few months when we know more likely about offer? obtain disposition of the property as a whole, other matters your views at relative to the plunge property. once so that I may report to the With wishes very best = to you and yours. Sincerely, or shall we In any event let me prospective buyer. know