On Thursday, May 25 you were repaid $2,535,786.72  from the refinance of Da= vid's home ($1mm) and my home ($1,535,786).
We forwarded the funds to pay= down your personal Bank of Amercia (BA) LOC.
The Family Partnership had t= o borrow from your personal line at BA $200,000 to  cover the $588k cash ca= ll for SRE properties.
With today's closing prices,  the Family Partnershi= p's available BA line is between $25k-$50, which is an  estimate because mu= tual funds don't post their NAVs until around 5pm (Central  time).
That ma= kes the Partnership's  total payable to KLL/LPL  personal line at $1,303,50= 0.
=20 I contacted the guys regarding the BBT Fund (Bass  family).
Per our conver= sation, I told them that the timing was bad,  but we did not want to miss o= ut before they close the fund.
I indicated  that our initial investment wo= uld be the following: KLL/LPL personal $250,000;  KLL & LPL Investments, Lt= d. $100,000; Foundation ?
(possibly  $100,000).
The initial investment amo= unt for the partnership, and  possibly the foundation, are about as low as = we can go if we want to  get into the fund.
I am aware that the Foundation=  is waiting to as  long as possible to pay out any contributions os I wasn'= t sure if we wanted to  make something happen there.
Also, I indicated tha= t we would prefer  to fund as late as possible, which looks like July  .
I= f we decide on doing something in the foundation they  have an Offshore Par= tnership to eliminate the tax implications of UBIT.
The Offshore Partners= hip is run exactly the same as the Onshore version, but is  unitized and pa= ys a dividend rather than distributions to the investors.
Let me know if = the amounts (above) to invest are okay with you and if you want  anything i= n the Foundation.

Update - May 25, 2001
On Thursday, May <NUMBER> you were repaid <CUR><NUMBER> from the refinance of Da= vid's home (<CUR>0mm) and my home (<CUR><NUMBER>).
We forwarded the funds to pay= down your personal Bank of Amercia (BA) LOC.
The Family Partnership had t= o borrow from your personal line at BA <CUR><NUMBER> to cover the <CUR>000k cash ca= ll for SRE properties.
With today's closing prices, the Family Partnershi= p's available BA line is between <CUR>00k-<CUR><NUMBER>, which is an estimate because mu= tual funds don't post their NAVs until around 0pm (Central time).
That ma= kes the Partnership's total payable to KLL/LPL personal line at <CUR><NUMBER>,00= <NUMBER>.
=<NUMBER> I contacted the guys regarding the BBT Fund (Bass family).
Per our conver= sation, I told them that the timing was bad, but we did not want to miss o= ut before they close the fund.
I indicated that our initial investment wo= uld be the following: KLL/LPL personal <CUR><NUMBER>; KLL & LPL Investments, Lt= d. <CUR><NUMBER>; Foundation ?
(possibly <CUR><NUMBER>).
The initial investment amo= unt for the partnership, and possibly the foundation, are about as low as = we can go if we want to get into the fund.
I am aware that the Foundation= is waiting to as long as possible to pay out any contributions os I wasn'= t sure if we wanted to make something happen there.
Also, I indicated tha= t we would prefer to fund as late as possible, which looks like July .
I= f we decide on doing something in the foundation they have an Offshore Par= tnership to eliminate the tax implications of UBIT.
The Offshore Partners= hip is run exactly the same as the Onshore version, but is unitized and pa= ys a dividend rather than distributions to the investors.
Let me know if = the amounts (above) to invest are okay with you and if you want anything i= n the Foundation.
possible pay contributions ll sre properties refinance da vid run exactly onshore amo unt partnership miss ut close guys regarding bbt os wasn lpl personal line bass family