upr000261 148

C o n w a y , M o e , h i b b s fle F u n s t o n 2 r action 8 of the Agreement -provides for a basic purchase price of v2,5oo,UGO.OO as of epteabcr 1, 1952. actions 9 a m 10 of the greeraent provide for additions to and deductions from the basic price, based in part on certain -defined transac­tions between that date and the final sale date, and in part on the determination of certain totals as of the final sale date. nxr examination was directed towards the verification of the substantial accura­cy of the additions and deductions to the basic purchase price to June 3( » 19$h and included such tests of the accounting records and other supporting data as we con­sidered necessary, as more fully described in the consents that follow: Additions and betterments to the physical properties since ' epteisber 1, 1952 represent the major additions to the basic purchase price. These are described in detail on iochibit A, as section 9(a), 9(b) and 9(c) additions, sucuaarized as follows: Account__^ater fysteia” between ’'epteaber 1, 1952 and June 30, 195U, as set forth on Exhibit B attached. In addition thereto, we substantiated section 9(a) and 9(b) ad­ditions by a teat-check of applicable subsidiary records, a review of the accounting extension of facilities by developers and sub-dividers, were substantiated by refer­ence and inspection of contracts, work-orders, bids, and other supporting documents, ! ascription 1i<ount ;ection 9(a) (ection 9(b) ection ?;c) 71,239-ill 771-U 563,662.35