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D. MICHAEL PARKER <br />CHESHIRE & PARKER <br />ATTORNEYS AT LAW <br />100 N. CHURTON STREET <br />P.O. BOX 100 <br />HILLSBOROUGH, N. C. 27278 <br />TELEPHONE 919- 732 -8141 <br />Mr. Geoffrey Gledhill <br />P.O. Drawer 1529 <br />Hillsborough, NC 27278 <br />Dear Geof: <br />TELEFAX 919 -732 -9167 <br />RECEIVED <br />APR 2 31999 <br />ALEXANDER H. GRAHAM (1890 -1977) <br />LUCIUS M CHESHIRE (RETIRED) <br />April 22, 1999 <br />Re: Site for proposed high school. <br />I am enclosing herein separate Option to Purchase <br />Agreements with Erma Crawford and Elizabeth Matheson for the <br />purchase of a site of approximately 64.8 acres. We have optioned <br />approximately 20 acres of Mrs. Crawford immediately across the road <br />from Grady Brown Elementary School. Ms. Matheson's property lies <br />between Mrs. Crawford's property and interstate 40. We are in the <br />process of conducting the necessary test to see if the site is <br />suitable for construction of the new high school. One of the <br />attractive features of the site is its accessibility to existing <br />water and sewer. Part of the test that we are conducting is to <br />what if any upgrades of the existing utilities would be necessary <br />for construction of the school. If the estimated acreage is <br />correct the purchase price would 603,200.00 for the 64.8 acres <br />based upon the agreed to purchase price for each in the options. <br />If you need any further information, please let me know. <br />With best regards I am, <br />Yours very truly, <br />D. Michael Parker�� <br />DMP /pdr <br />ocb \let. 106 <br />