RE: Our mutual friend

Jeff, any progress today?

Best Kim

fax

If intended no fax was enclosed

Kare I. Moljord

Partner • Advokat (H) • Supreme Court Lawyer

+47 98 29 45 68 • kim@adeb.no

Do you have fax number

+4723894005

Kare I. Moljord

Partner • Advokat (H) • Supreme Court Lawyer

+47 98 29 45 68 • kim@adeb.no

thanks . terje recollection of events is that you and he met and you told him that the option was going to expire and he should do something. he then went to moritz and mortiz asked for a delay and promised to extend the option. moritz said that his recollection was that terje approached him only AFTER the option had already expired. do you have a sense of date or notes of a meeting etc

kare you will receive photo fax and originzal 2 ccopies. thx , you should registwer rental. . craft purchase for 18 million to be held for 3 to 4 weeks terje will put up 4 m , m puts up 4 and terje borrow 10m thx

Hi, Jeff

In one way or another DNB will need to receive MNOK 18 to release the mortgage over the property. If I understand this correctly T will loan MNOK 10 from Nordea and pay up MNOK i equity. These funds will probably be transferred from Nordea (via Ts contactperson in Nordea?) to DnB subject release of mortgage?

And Nordea will need to register a new mortgage in the property or (?) take assignment from DnB in the current MNOK 25 mortgage held by DnB.

Anyway, any financial assistance (if any) from T to M need to be properly secured. Any loans /financial assistance (if any) from M to T should not be secured by mortgage in the property to avoid future problems.

M should be asked to deposit such deed with Nordea grantning Nordea authority to register such deed subject DnBs receipt of MNOK 18 and unconditional release of mortgage by DnB.

More generally Nordea should be asked to act as Ts agent and oversee flow of funds , the release of the DnB mortgage and the registration of the deed in the name of T free of direct/indirect charges from M.

Best Kim

VENNLIG HILSEN / BEST REGARDS,

Kåre I. Moljord
Partner • Advokat (H) • Supreme Court Lawyer