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AMWORLD Meeting in Miami, 28 June 1964

SUBJECT: AMBIDY-1's Dream House and Personal Finances

1. Without impugning AMBIDY-1's right to purchase a home, we advised him that many derogatory reports have reached our ears concerning his purchase of a home and for this reason only we wanted to set the record straight and thereby be in a better position to combat malicious rumors. A-1 said he understood and it was evident A-1 did not take it (the inquiry) as a personal affront. During a break in the meeting, A-1 went home to obtain the necessary data on the house. Within a few hours A-1 returned with the information plus a blueprint of the house.

2. A-1 stated the only house he owns is the one in which he and Adelaide are now residing. This house is located at 1370 N.E. 85 Street, Miami, Florida. The original downpayment was $5,500. The monthly payment on the house is $230. The funds for the downpayment were obtained from:

a. His own personal bank account ($4,000).

b. Adelaide contributed money she had received from an automobile accident ($1,000).

c. The balance was borrowed from State Bank ($1,500).

A-1 added that the money borrowed from Adelaide and the bank has yet to be repaid. According to A-1 the house is valued at $25,000. He said that they are very well pleased with the house. A-1 also reported that he was considering renting an apartment in Miami to obtain some extra money. For this reason the house is mortgaged in the name of Adelaide (A-1's wife) who is a U.S. citizen. To support her financially, A-1 intends to lease the house to them for $130 a month.

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