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FIRST NATIONAL BANK OF NEVADA 5 I rl VtlHI i * DAA ptki of NEVA POST iltj BOX 190 c Y A v A M E M O R A N D U M 0 # He/ 22 November 1961 TO: SUBJ: John H. McNamee, Esquire Private Trust #87, Stay. This will confirm our telephone conversation of today. We have received a brochure from Golden State properties, In c., which is not specific in its banking connections^ Therefore, we are writing them today for tills further information. We do not feel, at the present timdy that the brochure alone would be sufficient to obtain financing on the qmlding. This appears to be a brand new company, pnjy ha\in^ beenN^n existence for a year or two. The other things it wilfNbe nece&saky to check very carefully is the showing of the property /'as Vega^Village would object to a discount house and we must be sure\tn^t the financing is firm before we commit ourselves to any sort of a program. Any overages about the $500, 000 must be paid in cash and not reflect a lien on the property in any manner. I have checked with people who know this type of construction and they feel that a minimum per foot cost would be about $8. 00, which would make it considerably over the $500,000. The other thing, of course, is Bob Bigelow's commission must be paid on some equitable basis. E. R. Vac china Trust Officer ERV/lc cc; Mr. Clarence A. Stay, Jr.