Telex 510-986-8244 Linn Agriprises, Inc. C/O Mr. W. G. Jefcoat, President
Banking: Bank of Mississippi Route 1, Box 229 Aberdeen, Mississippi USA Doddsville, Mississippi 38736
National Bank of Commerce Aberdeen, Mississippi USA
Schweiz Kreditanstalt CH-8640 Rapperswil November 1, 1982
RE: KAISER INVESTMENTS, INC.
On Friday, October 29th, we determined the 1983 Crop Plan for" Halstead Farm "as shown on the attached sheet. We also decided to store all soybeans, if possible, in the grain storage on the Farm. Should there not be enough room, we will store the balance of the beans at an elevator where we can receive a bonded warehouse receipt. We decided to place the rice which is stored on the Farm, and also the soybeans, into the U.S. Government Loan Program.
The attached sheet shows the approximate amount of cash which Linn Agriprises, Inc. and Kaiser Investments, Inc. will receive on or before December 31, 1982. The amount to be received by Linn Agriprises, Inc. up to December 31st will not be sufficient to pay back all the furnished crop expense money, including interest, to Kaiser Investments, Inc. Since it is of great importance for both parties to have as much field work done in the fall for the 1983 crop and also to plant 212.7 acres of wheat, Linn Agriprises, Inc. should receive the first advance of the 1983 crop expense money.
It is understood and agreed between Linn Agriprises, Inc. and Kaiser Investments, Inc. that this first advance of $20,000.00 is to be solely used for the 1983 crop as the attached sheet shows.
Should Linn Agriprises, Inc. have any unpaid debts from the 1982 crop, those debts have to be paid out of the sale proceeds of the 1982 crop and not from this first advance for the 1983 crop.
Enclosed please find Check No. 9, in the amount of $20,000.00 for the above mentioned purposes.
SO SIGNED AND AGREED by both parties, this the ___ day of November, 1982.
BY: W. G. JEFCOAT, PRESIDENT ...