"This is to confirm our recent phone conversations and to let you know we have followed your instructions in the purchase of the Lorenzen property (app. 80 acres) which joins YBR on the north. The purchase price was $60,000. This addition will be identified as Paul Stock Unit#2 and it brings the size of YBR to app. 400 acres of very valuable land. We borrowed $60,000 from The Security Trust and Savings Bank and the interest rate is 8%. We can pay it off at any time with no penalty. We are grateful for your promise to make contributions to YBR over the next three years for the purpose of retiring this debt and giving the land to us."...Etc.