Port Austin Bible Campus
Letter of March 19, 2006
Dear Servants’ News Reader:
Hundreds of the “Response Pages” from the last Servants’ News have been returned. We are still in the process of tabulating and answering them. We have received 70+ requests for our CD so far; we will be shipping them this week. We have also received about 70 offerings; “Thank you” to those who sent them.
If you would like to continue to receive Servants’ News, and have not let us know, please do so.
PABC activities have gone as planned since the Jan/Feb newsletter. New people have moved here to help and more have signed up to come for the Feasts, music camps, and/or summer retreats. Financially, God has provided for our needs; we had been making our $4348 monthly property payments largely on time through November.
Having exhausted other sources of funds that God provided, we prayed for help. Shortly afterward, Mike Zaeske came and agreed to buy one of our 12 buildings, which is currently rented to the Port Austin Township Hall. Mike needed to arrange for a $30,000 bank loan to purchase it. The money from that sale would take care of all of our property payments until August 15.
This next part is a little complicated, but we hope that you will bear with us. In order for Mike to get a bank loan, the people who were selling to us had to “release” the township hall building so that a bank could have a “first mortgage”. We had taken care of some of their issues for them, so we asked them to do it and they agreed verbally last December, and then put it in a written “non-binding agreement” on January 6th.
Both Mike and we committed much time and $2000 for an appraisal, title work, multiple loan applications, leases, taxes, etc. to obtain approval for this $30,000 loan, and that bank agreed to do it. We could have closed the deal this week and our financial situation would be in good shape for the next five months.
Then last Thursday, the people from whom we are buying told us that they would not “release” the property unless we gave them back another parcel that they sold to us, which is worth approximately $100,000. While they probably are under no legal obligation to live up to their previous promise, we essentially wasted three months on that solution, rather than pursuing another one. Now, we are in danger of foreclosure on the entire campus.
We are sending this letter in hopes that one or more of our readers will know someone who might be able to lend us $30,000 as a “second mortgage”. The situation is complex, but we will gladly provide as much documentation as anyone seeking to help would require.
Another simple way we could accomplish this would be for each of our 2000+ readers to send us $15. We realize that some of our readers are on fixed incomes and cannot send anything, but others probably could make up for them.
Thank you very much for your consideration in this matter. Please pray for us. We would appreciate hearing from you. This letter was emailed to readers with e-mail—the only change is in this paragraph.
Thank you very much. May the Eternal bless you and your family.
In Christian love,
Norman Scott Edwards