BY HAND October 21, 1999 MEMORANDUM TO: Persons on the Attached Distribution List FROM: Andrew M. Weinfeld RE: Cerberus: Northstar Credit Agreement In connection with the above-referenced transaction, I am enclosing the final versions of the operative...

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                                                                   EXHIBIT 10.3


                   [XXXXXXXX XXXXXX XXXXX & XXXX LETTERHEAD]




                                          BY HAND

                                          October 21, 1999



            MEMORANDUM TO: Persons on the Attached Distribution List

                     FROM: Xxxxxx X. Xxxxxxxx

                       RE: Cerberus: Northstar Credit Agreement


         In connection with the above-referenced transaction, I am enclosing the
final versions of the operative documents marked to show changes from the
previous drafts.

         Please feel free to contact me if you have any questions or comments on
the enclosed documents.


                                          A.M.W.

(Enclosures)

cc:      Xxxxxxx X. Xxxx


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XXXXXXXX XXXXXX XXXXX & XXXX                                              Page 2


                                DISTRIBUTION LIST

Xxxxxxxx Xxxx
The Xxxxx Manhattan Bank
000 Xxxx 00xx Xxxxxx
00xx Xxxxx
Xxx Xxxx, Xxx Xxxx  00000


Xxxxx Livanas
Xxxxxxx Xxxxxxxx & Xxxx
Two World Trade Center
40th Floor
New York, New York  10048