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Settlement near.

Settlement Near

Our sources tell us that a settlement in the TCBY Tower negotiations with the Texas Teachers Retirement System is close and could be announced within weeks.

Expect to see the interest rate on the loan sliced from its current 10 percent to somewhere in the range of 9 percent. That should save the TCBY Tower partners a nice chunk of change in annual interest payments and soothe cash-flow requirements.

Although there has been plenty of press about the status of negotiations between property manager John Flake and TTRS, the latest word is that TTRS is nothing but pleased with Flake's handling of the property.
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Title Annotation:TCBY Tower to settle obligations with Texas Teachers Retirement System
Publication:Arkansas Business
Date:Jun 10, 1991
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