Ben,

The unit deliveries that go with revised milestone 10 are units # 21&22 that
actually occur by March 30, 2001.  I've already pushed back payments as far
as I can for Units 19,20, 23, & 24, by splitting the 10% into two 5%
payments from the earlier agreed to 2/15 date.  So the deferral of 5% of
contract to 7/30/01 more than accomodates the later ship dates.  The value
for delaying ~ $ 17.5 mm for 75 days is already benefitting by $ 365,000
assuming 10% cost of money.  That's the best we can do.  Sorry if I didn't
make myself clear.

Please call if we need to discuss further before concluding the Change
Order.

Thanks,

Lee

-----Original Message-----
From: Ben.F.Jacoby@enron.com [mailto:Ben.F.Jacoby@enron.com]
Sent: Wednesday, September 13, 2000 11:06 AM
To: lee.johnson@ss.ps.ge.com
Cc: Kay.Mann@enron.com; Chris.Booth@enron.com; Kathleen.Clark@enron.com
Subject: Re: FW: Change Order #3



Lee:

Looks good except I've gotten approval based on unit #19 being delivered on
May 15, based on our discussion last week. I'm happy to go back, but I
think the payment schedule should tie to the unit delivery; i.e. either
push the payment schedule back, or move the unit delivery date forward.

Let me know how you want to proceed.

Thanks,

Ben




lee.johnson@ss.ps.ge.com on 09/13/2000 09:26:39 AM

To:   ben.f.jacoby@enron.com
cc:   kathleen.clark@enron.com
Subject:  FW: Change Order #3


Here's the change order for the schedule change related to LV Cogen II
units.

> -----Original Message-----
> From:   Shoemaker, Kent (GEAE)
> Sent:   Friday, September 08, 2000 4:26 PM
> To:     Johnson, Lee L (PS, SSEP); 'chris.booth@enron.com';
> 'kay.mann@enron.com'
> Subject:     Change Order #3
>
> Lee, Chris and Kay:
>
> Attached is a draft of the Change Order #3 for the Las Vegas Cogen
> project.  Kay, I will be in Houston on Monday through Wednesday
afternoon,
> but will be busy most of Tuesday.  Lee had hoped that we could get
> together, or at least talk, about this and the facility agreement and
> payment for Change Order #2.  How is your late Monday afternoon looking?
>
> Kent
>
>  <<Amendment Number 3.doc>>

(See attached file: Amendment Number 3.doc)
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