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Digital ID
upr000177-499
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I agree.M p. A. X. Folger: 1»&* Angeles «* February 3, 1950 1-W3 Referring to your letter dated February 2, 1950, file 1-5# la regard to proposed tale of |»©t 17, iloik 5, Traot 186?, termo, California, to Hr. Eugene A. WalUn: lOille it is noted la Hr. Mo0urdy*8 letter to you of January |0 that Hr. Wallin states that a Oontraot of Sale by LVLAWCo. Will be satisfactory, it Is noted In Hr. Wallings letter to Hr. HoOurdy dated Deoember 31, 19b9, he states that he has some money saved and as soon as he can secure deed to the property he oan secure loan from Bank of America with which to build his heme. In a Oontraot of Sale the Deed is not delivered to the Purchaser until the terms of the Oontraot of Sale are complied with. In the deal isvo&tdd, the Oontraot of Sale will specify that ’hen Hr* Wallin has completed the erection of a moderate home on the site and has paid the purchase price, then the deed will be delivered to Mr. Wallin. Please go into the matter further and determine whether Mp, Wallin sill be in position to proceed with construction of a moderate home on the site in question under a Contract of Sale with the provisions mentioned. /«// Wm. Reinhardt