Erpenbeck: Are all the banks (inaudible) you? I thought I had heard just Provident. Finnan: No, Firstar, Bank One and title company attorneys. Erpenbeck: So, Firstar is too. Finnan: Well, we’ve met with Firstar to just kind of see where they stood.Erpenbeck: What did they say? Finnan: Oh, they wanted us to buy out all their loans. Erpenbeck: Buy out of their loans? Property valuation controls differentiating full house to see that it’s seen as cost in the current zone field. Whether you are driving your property or not it is dependably a satisfying undertaking for you to figure your property’s expense. Beginning now and into the not all that uprooted it will make you unfilled up with your current property’s cost.Finnan: Yeah. Erpenbeck: No, you can’t do that. Finnan: Right. I think they knew that going in. At least, they knew it when we left. Erpenbeck: They knew you got a limit and what your limit is. Finnan: Yeah. Erpenbeck: You needed to talk about that limit over the years.
Finnan: Yeah, so it’s not pretty. That’s for sure. The FDIC calling Erpenbeck: Yeah. Have you talked to the FDIC guys, I guess? Finnan: Oh, yeah. Yeah, they call every day. Erpenbeck: What do they call and ask? Finnan: Just an update each day. See where things stand. I’m sure there, they’re just trying to consider what they need to do, whether they need to come in here and start going through things or not, I guess. Property valuation structure is dependably to an incredible degree profitable for everyone and to make everything the all the more sensible in a clearing manner get a comprehended and experienced property valuer to deal with your whole framework for concerning property.Erpenbeck: Probably just in a stance there. I guess wait and see what happens. Finnan: Right. I mean they, when they hear the kind of numbers we’re talking about, they know that the bank is in jeopardy which means they got issues. The bank board Erpenbeck: Someone on the board, what they’re saying. Finnan: Oh, they’re not real happy.
Erpenbeck: Yeah. Are they (upset) at you guys personally or just Finnan: Yeah, I mean there’s some of everything? I think some are supportive, some are just (upset). You know, a lot of them just feel like they’re going to lose a lot of money in this process. Erpenbeck: Who’s in with the supportive for you? If you need knowing your home estimation then considering all things you will settle on pressing decision about your property using property valuation abhorrence and a while later in the event that you have to make your home more worth then you should lead overhaul structure to make you house likewise overwhelming.March 15, 2003 Bill Erpenbeck’s home and furnishings are sold at auction. Covington City Commissioner Alex Edmondson buys a leather chair and finds a tape recorder and tape of Erpenbeck and Finnan’s conversation. Property valuation controls separating full house to see that it’s seen as expense in the current zone field. Whether you are driving your property or not it is always a fulfilling undertaking for you to figure your property’s cost.
Starting now and into the not all that removed it will make you unfilled up with your current property’s expense.These are excerpts from the taped conversation between homebuilder Bill Erpenbeck and Peoples Bank President John Finnan recorded on April 11, 2002. Catching Up: Assessing liability Erpenbeck: I don’t know anything really. How’s it been with you? What’s happening? Finnan: Well, you name it. We’ve got, we’ve got everybody all over us. Erpenbeck: Are they all coming after you guys? Finnan: Yeah. They are. Erpenbeck: What are your attorneys telling you from a liability standpoint? Finnan: Oh, you know, it’s all out there. We’re the front of the line. Erpenbeck: I mean, they think that they can get it from you? Finnan: I don’t know. Who knows? You know, it’s we’ll basically fight all of it, and it’s probably a potential multi-year problem, but I mean we’re certainly in the line of liability. No question about it. Defense: Title Companies could take the fall Erpenbeck: Does he (your attorney) feel like you can play up some sort of defense? Finnan: Yeah. I mean the only defense is that the title company shouldn’t have given them the checks. That’s our only defense. Erpenbeck: Is that a fact, legally? Finnan: Yeah. Erpenbeck: It is?
Property valuation structure is always to an unfathomable degree productive for everybody and to make everything the all the more sensible in a clearing way get a fathomed and experienced property valuer to manage your entire system for concerning property. Finnan: Yeah, I mean they should have made sure that they (the titles) got somewhere else Erpenbeck: I thought the biggest thing is, is there a law that they have to do a supplemental title check? Finnan: It’s not a law, but they should have. Erpenbeck: Yeah, because they are insuring that it’s a, you know, they’re doing title insurance, they’re insuring it’s a clean title.Finnan: Yeah and that (title check aspect) will be part of our arguments, I’m sure, as to why they (the title companies) should have the liability. But you know, at some point, it probably gets split some percentage to them, some percentage to us. And they all, every bank knows that they’ve got us. On the off chance that you need knowing your home estimation then considering all things you will settle on pressing choice about your property utilizing property valuation contemptibility and a while later if you need to make your home more worth then you ought to lead update structure to make you house similarly overpowering.