Claire looked amused. "Most landowners ask for the biggest number first."
"Most numbers get smaller after somebody signs something."
"You've been talking to lawyers."
"I've been farming. Same lesson."
The soil scientist dug observation pits and studied profiles Warren had plowed over for decades without ever seeing as evidence. In several low zones, the subsurface colors and redoximorphic features were consistent with prolonged saturation history. The botanist documented species establishing naturally after the change in hydrology. Claire's team also identified sections of the eighty acres that might be unsuitable or unnecessary for inclusion, which surprised Casey.
"Wouldn't more acres mean more value?"
"Only if the project is ecologically defensible," Claire said. "Padding a boundary with ground that doesn't belong in the project creates problems later. Agencies remember sponsors who overreach."
Casey wrote that down.
At the end of the visit, Claire did not give Warren an offer. She gave him a list of next steps.
Agency pre-application meeting. Additional groundwater information. Title review. Preliminary restoration design. Confirmation that the property fell within the service area for anticipated credit demand. Legal review of the drainage dispute so the project did not accidentally treat somebody else's damage as sponsor-created ecological lift.
Warren looked at the list and said, "That's a lot of ways to fail."
Claire folded her map. "That's why credits have value."
September arrived with the farm still under pressure.
Warren harvested higher acreage where he could, and the yields were respectable but not enough to erase the lower-field loss. Fuel costs remained high. One combine repair consumed money he had expected to use elsewhere. The bank's deadline approached.
Cornerstone ordered a new appraisal.
The appraiser treated the eighty acres conservatively because they were no longer in crop production and because the drainage dispute introduced uncertainty. When the report came back, the bank used the lower valuation to argue that its collateral position had weakened.
Gerald came to the farm with the appraisal in a leather portfolio.
"I'm trying to keep this from becoming adversarial," he said.
Warren sat across from him in the kitchen. Casey was present, and Harlon joined by speakerphone at Warren's insistence.
Gerald continued. "The bank is prepared to purchase the lower acreage through an affiliated land entity. The proceeds would bring the operating note current, reduce principal, and give Warren breathing room."
Harlon's voice came through the phone. "Which affiliated entity?"
Gerald's eyes moved toward the device. "I'll provide the written proposal."
"Please include every relationship between Cornerstone and the development group upstream."
"Those relationships are irrelevant to the credit decision."
"Then disclosing them should be easy."
Gerald's mouth tightened.