LETTER OF INTENT TO PURCHASE THE PROPERTY OF DAVID SOUTER

DFU | 7-23-05 | dfu

[doug from upland]

LETTER OF INTENT

To: Mr. David Hackett Souter
From: ****************, a California licensed real estate broker
(Address, phone redacted)
Date: July 23, 2005

re: that certain real property located at 34 Cilley Hill Rd., Weare NH 03281
(complete legal description to be furnished in escrow)

Mr. Souter:

I represent a group of investors who are interested in purchasing your property in Weare, NH, which is above described. Pursuant to their wishes, I hereby tender this LETTER OF INTENT, which outlines the terms and conditions under which they would make the purchase.

1. PRICE. $75,000
2. DEPOSIT: $2,000, to be tendered after an OFFER TO PURCHASE is accepted
3. DOWN PAYMENT. $7,500
4. SELLER FINANCING: Seller to carry back a 1st Mortgage of $67,500, 5% interest, amortized over 30 years, $362.35 per month. Should buyer pay off the 1st mortgage within 12 months of close of escrow, seller agrees to accept a $5,000 discount for early payoff.
5. SUBORDINATION. Seller to subordinate the seller financing described in No. 4 above to a construction loan of no greater than $7,000,000 at prevailing rate and terms.
6. TITLE INSURANCE. Seller to provide policy of title insurance issued by New Hampshire Residential Title, 5 Bedford Farms, Bedford, NH 03110.
7. ESCROW. Escrow period to be 120 days or sooner; escrowholder to be New Hampshire Residential Title Services, Inc.
8. DISCLOSURES. Seller to provide all disclosure statements required by New Hampshire law within 14 calendar days of acceptance of offer. Buyer to have 7 calendar days after receipt of same to approve or disapprove of such disclosure information. Should buyer disapprove, he shall have the right to cancel the transaction and the deposit is to be returned in full.
9. INPSECTION. Buyer is to have 10 days from time of acceptance to make a physical inspection of the premises for approval or disapproval.
10. TERMITE CLEARANCE. Seller to provide termite inspection and clearance from a licensed pest control company in New Hampshire.
11. WARRANTIES. Seller warrants that there are no lawsuits or government notices that affect the subject property. Seller further warrants that the property is free of petrochemicals and any other toxic chemicals that would prevent the buyer from securing approval for a commercial building project.
12. POSSESSION. Seller is to give possession, remove all of his personal property, and leave the premises in clean condition within three days of close of escrow.
13. BROKERAGE. The broker represents only the buyer in this transaction. The broker is neither taking a fee from nor respresenting the interest of the seller. Broker advises the seller to seek his own competent legal and brokerage expertise.

This LETTER OF INTENT is valid until 5:00pm (Pacific time), August 5, 2005.

NOTE: We hope you are willing to sell your property under the terms and conditions above outlined. If you do not want to sell, pursuant to the recent Supreme Court decision in KELO et al. v. CITY OF NEW LONDON et al., we are prepared to make application to the five members of Weare Board of Selectmen to have the property condemned using their power of eminent domain. Any expenses incurred by the buyer for such action will be deducted from the purchase price.

Respectfully,

*****************

[tutstar]

bttt

[tutstar]

LOL

[LRS]

Now that would be a good billboard for David to see on the way to his home at 34 Cilley Hill Rd., Weare NH 03281 !

[Ditter]

Just wondering, why is Judge Souter the only SCJ who is getting this treatment?

[Redcloak]

That's a good question. Do any of the others in the Kelo majority have valuable properties that could turn a profit be put to good public use?

[doug from upland]

Maybe because he is the one appointed by Bush 41 who turned out to be a major league disappointment. And he's not married, so we wouldn't be kicking kids of of their home if we have it condemned. :)

[doug from upland]

Do you want to be one of the investors? :)

[doug from upland]

[LRS]

...so we wouldn't be kicking kids of of their home if we have it condemned...

It's for the children, you know!

[Rebelbase]

Trust me, your ignorance on that issue is bliss.

[Syds Dad]

Do we have any idea if this city council will go ahead and take his property away?

Any word from any of these councilmen?

[doug from upland]

I have spoken with the guy who started the effort.

[Deo et Patria]

It's an inside joke from an old Japanese video game with awful English translations; the exchange has become part of pop culture.

[Gatún(CraigIsaMangoTreeLawyer)]

What happen?

Somebody set up us the bomb!

We get signal!

What?

Main screen turn on!

It's YOU!!!

[Tuxedo]

For Great Justice!

[doug from upland]

FROM THE UNION LEADER:

Meany also told Clements that he could not deal with him until he actually owned the land, which, if he was going to try to claim it, would first need the board of selectmen’s support.

Selectman Heleen Kurk said Clements has not contacted the board, as far as she knew. Regardless, she said she would not support the proposal.

“We have absolutely no intention of doing that,” he said of claiming Souter’s land.

[eyespysomething]

Watch this video. The beginning is from the game.

http://www.planettribes.com/allyourbase/video3.shtml

[I got the rope]

Hey Jim,

Looks like a great vacation spot...the conference room could hold some of the biggest FReeper bashes ever.

[Gatún(CraigIsaMangoTreeLawyer)]

How are you gentlemen?

All your base are belong to us!!!

You are on the way to DESTRUCTION!!!

What you say?

You have no chance to survive make your time!!!

HA HA HA HA!!!

Take off every "Zig" You know what you are doing!!!

Move "Zig!!!"

For great justice!!!

[upchuck]

I'm not sure about the 20 acres of land. But this I know because I was there:

• Weare, NH is about 20 miles from the nearest Interstate highway. Kiss the casual overnight tourist goodbye.
• Cilley (pronounced "Silly" according to the locals) Hill Rd. is about 4 miles from the main road, Highway 77.
• The road from Hwy 77 to Cilly Hill Rd., South Sugar Hill Rd., is two lane and very twisty.
• Cilly Hill Rd. itself is a dirt, dead end road only about a block long.

Here's a map.

I make no claims as to knowing anything about grading real estate for a particular purpose. But, having been in business for many years, I can say that, IMHO, building any sort of commercial enterprise there is very iffy as best. Way too far off the beaten track in a very, very rural area of New Hampshire. You've heard of being, "out in the middle of nowhere?" This property more than qualifies for that label :)

Granted, if you were to construct a world-class hotel with appropriate amenities, lots of advertising and an A1 rating from AAA, et al, you might attract business. But I feel the up hill climb to profitability would be pretty steep.

And there would be significant stretches of time in the winter when (according to the locals) the hotel would be, for all intents and purposes, inaccessible due to snow on the roads.

The house itself looks to be very old and is in pretty bad shape. It is very rundown looking. There are places where the wood siding is completely gone. And many other places where the siding is hanging down. The pic you included makes the property look much better than it really is. The fact that the mail box is tilted at a crazy angle is very telling.

Bottom line: IMHO, this is a tremendous opportunity for a slick publicity stunt to advertise the folly of the SCOTUS. But as a business venture, there's just not much there. 34 Cilley Hill Rd. would be great for a residence, but that's about all.