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Letter To: <br />Sheet No: <br />Date: <br />Lee County 0mmissioners <br />3 r <br />December 11, 1978 <br />.:O MI <br />sy <br />the commencement of the lease. The purchase price of <br />the current assets will be their value as of the date <br />of the commencement of the lease, as determined by the <br />final audit, and may be more or less than the $1.2 million. <br />AMI will at the same time purchase the equipment of the <br />existing hospital for an amount to be mutually agreed <br />upon. It is anticipated that the amount paid for the <br />current assets and equipment, together with the rental <br />payments under the lease, will total approximately $2.9 <br />million, the amount proposed in August to the Hospital <br />Trustees. <br />3. When the lease is executed, AMI will undertake <br />immediate action to obtain the necessary regulatory <br />approvals, including a C.O.N., to construct a new hospital <br />in Lee County of at least 142 beds, and, when such approvals <br />are obtained, AMI will immediately commence construction <br />in accordance with such approvals. It is anticipated the <br />construction will be completed within 18 to 20 months <br />from commencement, barring any unforeseen problems or <br />difficulties. AMI will build and operate this replacement <br />hospital with its own funds, and without initial or ongoing <br />financial support from the County, except for such support <br />as may be agreed upon with respect to indigents. Design <br />of the facility will be based on input from the medical <br />staff, hospital management and AMI. <br />