Re: Confidentiel

Dear Jeffrey,

I hope that the letter of Maître Chardon appeased your two concerns which you expressed to me last week. To summarize the situation as it stands:

1)      The 10 % deposit is very usual and is required by the sellers rather than 5 %.

2)      The only condition which will be inserted in the first agreement (15th March 2007) will be the pre-emption right of the SAFER.

The other contingencies are out of the scope of the sale (for example, the house nearby, but it will not be difficult to prevent the owner to make any extension), or are settled (the cook and the supervisor whom you are free to keep or not to keep, etc.).

As far as the little houses, which are rented, are concerned, it is a very usual situation in this kind of property and you will manage within a reasonable period of time, to put an end to the leases.

I confirm to you that we need to receive urgently a letter, the draft of which I sent you last week or alternatively, to make the deposit of 10 % now at Chardon’s office.

Kind regards,

Matthieu

PS : Your lawyer in New York and yourself will receive today from our firm a memo on the Danish company.

Dear Jeffrey,

I hope that the letter of Maître Chardon appeased your two concerns which you expressed to me last week. To summarize the situation as it stands:

1)      The 10 % deposit is very usual and is required by the sellers rather than 5 %.

2)      The only condition which will be inserted in the first agreement (15th March 2007) will be the pre-emption right of the SAFER.

The other contingencies are out of the scope of the sale (for example, the house nearby, but it will not be difficult to prevent the owner to make any extension), or are settled (the cook and the supervisor whom you are free to keep or not to keep, etc.).

As far as the little houses, which are rented, are concerned, it is a very usual situation in this kind of property and you will manage within a reasonable period of time, to put an end to the leases.

I confirm to you that we need to receive urgently a letter, the draft of which I sent you last week or alternatively, to make the deposit of 10 % now at Chardon’s office.

Kind regards,

Matthieu

PS : Your lawyer in New York and yourself will receive today from our firm a memo on the Danish company.