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<br />askins <br />& askins P.c. <br /> <br />ATIORNEYS and COUNSELORS <br /> <br />Knox W. Askins <br />Clark T. Askins <br /> <br />March 10, 2009 <br /> <br />f~~!~~ <br />C\1VSECRETAR'l'S <br />OfFICE <br /> <br />Ms. Rosebud Caradec <br />Advent Waterfront properties, Inc. <br />rosebud@adventwaterfrontpropertiesocom <br /> <br />Re: Happy Harbor Sale to city of La Porte <br /> <br />Dear Mr. Caradec: <br /> <br />The counteroffer of the Aldergate Trust, owner of the Happy Harbor <br />property, which you emailed to me on March 9, 2009, was presented <br />to the La Porte city council in executive session, at its regular <br />meeting of March 9, 2009. <br /> <br />In the counteroffer, the Seller raised its asking price from <br />$1,400,000.00 to $1,600,000.00. <br /> <br />The city of La Porte in January, 2009, instructed our office to <br />prepare a proposed earnest money contract, based upon the Seller's <br />invitation to it, to present an offer for the purchase of the <br />property for a cash price of $1,400,000.00. The city accepted this <br />offer, and all good faith negotiations on the contract language <br />since that time, have been based upon that offer. <br /> <br />It was the unanimous sentiment of City council that, since the city <br />had accepted the Seller's original offer of $1,400,000.00, the <br />Seller should in good faith stand by its offer. <br /> <br />The city of La Porte stands ready to continue negotiations on <br />contract language matters, for the purchase of the property for the <br />agreed price of $1,400,000.00. <br /> <br />Yours very truly, 4 <br /> <br />~tJ~ <br /> <br />Knox W. Askins <br />city Attorney <br />city of La Porte <br /> <br />KWA: sw <br />cc: vHon. Mayor & city council <br />Mr. Ron Bottoms, city Manager <br />Mr. John Joerns, Assistant City Manager <br />Mr. Tim Tietjens, Director of Planning <br />Mr. Stephen Barr, Director of Parks & Recreation <br /> <br />702 VIT. Fairmont Parkway, P.O. Box 1218, La Porte, TX 77572-1218 <br />281.471.1887 phone . 281.471.2047 fax. knoxaskins@comcast.net . ctaskins@swbelLnet <br />