Teran Realty
74 Mill Hill Rd.
Woodstock, NY 12498

August 31, 1996

George Spelvin
111 Rondout Harbor
Port Ewen, NY 12466

Dear Mr. Spelvin,

Victory! Enclosed please find Xerox of the "Final Order on Consent", which was signed and agreed to by the town of Esopus by its attorney.

Your tax assessment for last year was reduced to $20,607, an additional reduction of 32.2%. Your last year's taxes were $1,725 and $1,268, respectively, which means that you should be getting refund checks in the mail at least in the amount of $556 and $409 within 30 to 90 days.

We hope that you are fully satisfied with our services.

Please bear in mind that the bread and butter of our business is the sale of real estate, and we would most appreciate your considering us if buying or selling real estate. Also, your recommendation to others would be helpful to us.

We're very excited to have an Internet site under construction, this will substantially enhance our ability to display and market our property listings. By the first week of September you should be able to visit us at: "http://biz.mhv.net/teran". Please do, I think you may enjoy it.

Thank you for your trust in me and for your business.

Yours truly,

Andrew Peck, Owner/Broker, Teran Realty