Subject: RE: A tentative proposal for Unadilla Farm Date: Sun, 23 Sep 2001 18:36:07 -0400 From: "Boysen & Jess" To: "George Salzman" CC: "Eric Entemann" Dear George, It's good to hear from you so quickly! Boysen and I have talked it over, and we'd like to go ahead. So: We accept your offer to sell us your 1/3 ownwership share of Unadilla Farm for $68,151.50. We agree to your figures of a 20 year mortgage at 5% interest, equalling monthly payments of 449.77. We understand that we will take over responsibility for 1/3 of the taxes and insurance as an additional cost. This is a fair price, an arrangement we can afford, and we're extremely pleased to have this opportunity. We both feel we can come to agreeable arrangements with Eric relatively easily; he should just let us know when he wants to discuss what he'd like to see happen. In terms of the 11 points in your proposal, we agree (I've noted where we had small clarifications or questions): "My offer then is as follows: 1. You accept my 'wants' as given in the preceding paragraph, and Eric's 'wants' as given above. [To visit occasionally, for us to keep Freda's grave-site cared for, to perhaps create a memorial for her and hold a ceremony, etc. In terms of Eric's wants, we'd like to discuss them with him as mentioned above]. 2. You will buy my one-third interest in Unadilla Farm for $68,151.50, by paying me, on the first day of each month, beginning on October 1, 2001, an amount that will liquidate the debt in, say 20 years. You will pay interest of one-twelfth of 5% per month on the unpaid balance. If you pay off the debt at a faster rate, there will be no penalty. 3. You will assume responsibility for one-third of the taxes on the farm, the insurance, and any other agreed- upon common costs, and liabilities, of the three partners. 4. If you fail to make payments (on the debt and/or of taxes due) in a timely fashion, the sale of my interest to you will be invalidated, and you will retain no equity. 5. As long as I live, payments on the balance of the debt will be deposited to my account, namely Account No. 1000204346 in the Cambridgeport Bank 689 Massachusetts Ave Cambridge MA 02139-3302 unless I subsequently designate a different mode of payment. 6. At the same time you mail a check or money order for deposit to my account or make a tax payment you will e-mail or mail me a note informing me, and stipulating the amount of the deposit or of the payment to the tax collector. 7. If the debt is not paid off at the time of my death, subsequent payments will continue in a timely fashion, as stipulated above, but to a recipient (perhaps the Grassroots Infrastructure Charitable Foundation - the one I set up two years ago, perhaps to Eric) that I must still determine. 8. Whatever useful personal belongings of mine remain at the farm will be for your and/or Eric's use, to be agreed upon by both parties. 9. All appliances you bought since occupying the stone house in April will be your personal belongings. 10. Neither Eric nor I will seek any 'rental' for the six months of April through September during which your occupancy has been, at the very least, though not through your intent, problematic. [Just for clarity's sake, we actually moved in June 19, 2001, although we did start cleaning and repairs in late April] 11. You will not seek to 'recoup' the money you spent on repairs during that six-month period. This leaves us with just a couple of questions--first, would you like us to have a lawyer draw up the papers, or would you prefer to engage your own? Second, is our aim to have the paperwork arranging the sale of your share to us completed before you return to Mexico October 3rd? That can certainly be accomplished, and would likely keep things simpler. Thank you for recognizing our committment to this place, and for being so straight-forward and efficient, George; we're looking forward to having this resolved and deeply appreciate your willingness to help us. Warmly, Jessamyn and Boysen