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Technology Stocks : Thermo Tech Technologies (TTRIF) -- Ignore unavailable to you. Want to Upgrade?

To: m jensen who wrote (4719)	9/3/1998 1:05:00 AM
From: DDS-OMS	Read Replies (2) \| Respond to of 6467

Mike, Thanks for the reference to your January posting. If I understand it correctly, E.A.S. Business Ventures owned the property at the time the title search was done in January. TTRIF had a lease-purchase agreement which may explain the high rent. A portion of the rent--often most of it--would go toward the purchase price if the lessor exercises its right to purchase. Since TTRIF is building an expensive structure on the property, one could surmise that they may have exercised the purchase agreement when construction started. Pretty difficult to get financing for a building on land you don't own, most lenders would insist that you own the land upon which they are financing the improvements. A lender might OK a 99 year lease, but at $96,000 a year rent, that's a mighty expensive lease. Regards, Gary