John Halderman (JTC Laguna Resorts) purchases The Coast Inn from Sidney Bryan (Coast Inn Management Corp.).
Note: $169,000 note is transferred from Sidney Bryan to JTC Laguna Resorts as my parents, Dick and Pat Smith, are carrying this note. This NOTE is a separate and second NOTE. The first NOTE was paid off in 1988, which was between Dick, Karl and Sidney. The second NOTE was between Dick & Pat and Sidney that carried over to John with some renegotiations. John paid back my parents in full in 1996.
To me, this is another great example as to how my family ran their business throughout the history of the Coast Inn. Dad was 83 by the time he was fully released from any financial ties to the Coast Inn. He continued being available for support, encouragement and great chats however until probably within a short period of his passing in 2006. Pete remembers his last meal in the Boom Cafe and, even though Dad was in a wheel chair, Pete offered to take him upstairs for one last look around. Dad was nearly 93 years of age when he passed.