Tuesday, December 30, 2008

The Meeting (part 1)

On the 15th, I received a call from Steve asking for the next draw request. However, I had been advised to not to release that money until we had an agreement in place with them that tied up all the loose ends. I would have been willing to release the money for the marble, which was apparently in dire need of being released so the work could be complete before the holidays as they shut down for 2 weeks. However the draw request was for 64k...

64k put the total money that we would have released at 349 something. Obviously I couldn't sign off on that. So I told Steve that I had been advised not to release it at this time. He got pissed and told me I was holding his subcontractors hostage. Then he asked who advised us, I told him we spoke with a lawyer and we would be sending him an agreement. He stopped talking pretty quick after that...

So I sent him the agreement, and talked with Stacee (our loan officer) and asked her to set up an appointment with them so that we could all sit down and work this out. She was very nice about it, said the agreement I wrote sounded reasonable and that she would call and inquire "when they were going to have it back to me." Hilarious.

We asked for a meeting the next night at Stacee's office, which they couldn't make. They countered with a meeting Wednesday, w/o Stacee, which we declined. Eventually we agreed to meet Monday morning at 8:30am at Stacee's Red Wing branch.

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