05-27-09 Meeting of the La Porte Redevelopment Authority Minutes

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- haynesboone July 17, 2009 1 R'H'.r-.,H' .i'-J ~-._IVE.D I i JUl 2 0 2009 BY:_ - Mr. Craig Olivier ArrORNEY AT LAW 1414 W. Clay Houston, Texas 77019 Via CMRRR - Re: No. 2008-59553; LaPorte 81, Ltd., et al. v. National Property Holdings, L.P.. et at.; In the 11 th Judicial District Court of Harris County, Texas - Dear Mr. Olivier: - We have received the corrected tax bills from the City of La Porte and Harris County, which now reflect the rollback taxes owed for 2001 and 2002. The tax bills are enclosed for your reference. Looking at the tax bills, your client's claims, and the facts in this case, it seems that the parties should be able to resolve this matter without the need for further Court action. - As you know, your client seeks to recover $116,455.62, which it claims to be the difference between the credit it gave at closing and rollback taxes that were previously billed (incorrectly) to reflect only a portion of the total tax liability. The corrected tax bills show that an additional $109,697.52 is owed to the taxing authorities. Because the taxing authorities reasonably appear to have a superior claim to the $109,697.52, National Property Holdings, L.P. ("NPH") intends to pay that amount to the taxing authorities. - This means that the difference between the closing credit and the total rollback taxes is $6,758.10. NPH intends to apply this amount to the legal fees that your client has caused it to incur as a result of this lawsuit. Texas law allows an interpleading party to recover attorneys' fees as costs from the claimant whose unsuccessful claim rendered the interpleader necessary. See Beneficial Standard Life Ins., Co. v. Trinity Nat'l Bank, 763 S.W.2d 52, 56 (Tex. App.- Dallas 1988, writ denied). As you might expect, NPH has incurred much more than $6,758.10 in attorneys' fees as a result of your client's lawsuit. Yet NPH will forbear recovery of its remaining attorneys' fees provided that your client dismisses its lawsuit with prejudice upon NPH's payment of the taxes to the taxing authorities. - - - Please let us know by Friday, July 24, 2009, if your client will dismiss its lawsuit. We look forward to resolving this matter without the necessity of the Court's intervention. Haynes and Boone, UP_ Allomeys and Counselors One f-Iou$1on Center 1221 ""kKinneyStreet, Suile 2100 Housbn, Texas 77010-2007 _ Phone: 713.547.2000 Fax: 713.547.2600 www.haynasboone.com