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030 THAB INGTON, SMITH & HARGROVE <br /> ATTORNEYS AT LAW <br /> RALEIGH,NORTH CAROLLYA <br /> CARLISLE W.HIGGINS <br /> 11997.1991)∎ <br /> MAI.010 ADDRESS <br /> J.HAROLD TH-AHRITTGTON P.O.DON 1151 <br /> WADE M.SMITH RALEIGH.N.C.27902 <br /> ROOER W.SMITH <br /> WADE H.HARGROVE <br /> OHOROE T.DOGLSTER,J8 OFFICES <br /> CARLXN O.POOLE 209 FAYETTEVILLE STREET MALL <br /> RICHARD A.SCHWARI'd HALEIG/L N.O.27901 <br /> JOHN R.EDWARDS <br /> MARK J.PRAK TELEPHONE ■ <br /> DOUGLAS E.KINOSBERy 19101921..1711 <br /> ELIZARETII P.KUNLHOLM <br /> HIM C.WETHERELL <br /> ANN L.MAJESTIC T LEC PTER <br /> J.ANTHONY PENRY 19101! 1893 <br /> RANDALL M.RODEN <br /> BURTON ORATOR <br /> MICHAEL CROWELL <br /> J.DAVID PARSER <br /> 0.DRY-AN COLLINS,JR <br /> C.ALLISON BROWN <br /> February 4, 1987 <br /> Town Manager David Taylor <br /> Town of Chapel Hill <br /> 306 N. Columbia Street <br /> Chapel Hill, North Carolina 27514 <br /> Dear Mr. Taylor: <br /> At the suggestion of your staff, this letter is <br /> submitted in connection with the request of Prime Venture <br /> I, Inc. for approval of a pro forma transfer of the Chapel <br /> Hill cable television franchise from Prime Venture I, Inc. <br /> to Prime Cable Income Partners L.P. <br /> • <br /> The proposed transfer of the franchise will not <br /> result in any transfer or change of control over the cable <br /> system or the franchise. The transfer is necessary in <br /> order to complete the financing arrangements for the + ` <br /> acquisition of the Chapel Hill system previously disclosed t <br /> to the Town on Form F (copy attached) of the materials <br /> submitted by Prime Venture I, Inc. in connection with the <br /> transfer of the franchise from Village Cable, Inc. The <br /> long term debt identified on Form F will be in the form of <br /> loans to the Partnership (Prime Cable Income Partners <br /> purposes of security, the lender requires <br /> that the franchise be held by the Partnership rather than <br /> the Managing General Partner (Prime Venture I, Inc.) . <br /> Additional explanation is provided below. We would <br /> appreciate prompt consideration of this matter and will be <br /> happy to provide any information that you may need. <br /> V <br />