DEPOSITION OF ANDREW ROBERT HARROD PART 9
Q: Give me one second here, please.
MR ALGORRI: Terry, do you have any questions.
EXAMINATION
BY MR McGAUGHEY:
Q: Just a few questions going back on the background of the residence on Windlfower.
When you originally purchased the property in June of 1999, the purchase price at that time was approximately how much?
A: I believe 273,000, somewhere in that neighborhood.
Q: And the deed of trust that you executed at that time in favor of the Harrod Family Trust was the amount of $250,000. Was the balance of the purchase price paid for by you?
A: I believe there was a portion paid by me. I believe there was also a second on the property at that point in time.
Q: And who was the second to?
A: Harrod Family Trust.
Q: And do you remember the amount of the second?
A: I don't remember exactly, no.
Q: Then in August of 2003 you executed another deed of trust in favor of the Harrod Family Trust. This is the amount of $325,000; correct?
A: Sounds right.
Q: I can show you Exhibit D, if you'd like to refresh your recollection.
A: That looks correct.
Q: So that basically increased the amount of your obligation to the Harrod Family Trust by $75,000?
A: No, I don't believe so.
Q: Well, the original deed of trust was $250,000?
A: Again, I told you I believe there was a second.
Q: For approximately how much money?
A: I don't recall.
Q: Okay. You said, though, the purchase price was around 270,000?
A: Around there, yes. 270 to 300,000, somewhere in that neighborhood.
Q: Okay. All right. So the second deed of trust to the Harrod Family Trust at the time of purchase then would have been something less than $50,000; is that correct?
A: I don't recall.
Q: Okay. Getting back to the one that was done in 2003 for $325,000, did you receive additional funds at that point in time from the Harrod Family Trust?
A: No, I did not.
Q: What was the purpose, then, of increasing the amount owed to the Harrod Family Trust to $325,000.
A: Again, I explained I don't believe I increased the amount I owed to the Harrod Family Trust with that transaction. I feel like you're asking me the same question over over again.
Q: Well, if you had originally at the time of purchase executed a first deed of trust to the Harrod Family Trust for 250,000, which we have a copy of, and a second which we don't have a copy of, but you've indicated the purchase price was no more than $300,000?
MS KEMP: Objection, mistates the testimony. He's estimating approximately 270 to 300,000.
MR McGAUGHEY: I said no more than 300,000.
MS KEMP: I don't believe he said that. He said it's an approximation.