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Temporary address: 57 West 58th Street 

URGENT

September 12th, 1940

Dear Mr. Reilly:

These below indicated propositions do not constitute an offer but merely a basis to continue negotiations.

If I understand correctly, you told me the terms on which we could obtain the sixth floor at 5 East 57th Street would be a two year lease: $2,400. for the first year and $2,700. for the second. In addition, we would be allowed the sum of $400. for partitioning, painting, etc.; any amount above this to be paid for by us.

After giving careful consideration to this problem, I would like to know whether we could have a two year lease, the first year at $2,400. and the second year at $2,600. with a cancellation clause, however, which would allow us two months before the expiration of the first year to cancel the lease by the end of the first year and paying you a forfeit of $500. You would undertake at your expense all the alterations which we needed on the premises. In fact, after careful consideration of the already-existing partitions which we could use, the few new ones which would be necessary would probably bring the total of the work to be done by you very close, if not below, the amount which you were originally willing to allow us. In this connection, there are probably enough doors on the premises already to fulfill our requirements, with the exception that we would like one special flush door and a double folding door for the reserve.
 
We would also require you to change the position of some of the lightning outlets in the ceiling, as well as adding a few more of these and base plugs. I trust that the lighting fixtures which are at present on the premises would remain at our disposal. We would also require you to move one or two of the existing plumbing fixtures.

In addition, the ventilation of the office marked "Cesar & Bob" on the plan is a problem which will have to be solved, so that it can be used as a regular office. In other words, if glass bricks can be used in the separating wall of the two offices, it would help the lighting problem considerably, and in addition, the proper ventilation through a ventilating machine or other means would have to be worked out for this office. But the problem of ventilation could not be solved by the use of a transom between the two offices.

t.s.v.p.