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116-L~ r UJ IUJ ~ IU`Y ~.l1Ull <br />D. MICHAEL PARKER <br />michaelparkerlC~+mindspring.com <br />CHESHIRE ~ PARKER <br />ATTORNEYS AT LAW <br />I00 N. CHURTON STREET <br />P.O. BOX l00 <br />HILLSBOROUGH, NC 27278 <br />7ELEPHONE 919-732-8141 <br />TELEFAX 9]9-732-9167 <br />Mr. Geoffrey E. Gledhill <br />Coleman, Gledhill and Hargrave <br />P.O. Drawer 1529 <br />Hillsborough, N'C 27278 <br />Re: Site for proposed middle school <br />Dear Geof: <br />1-114 t'~G! U5 U-L257 <br />4_,.. <br /> <br /> <br />ALEXANDER H. GRAHAM (1690-1977) <br />LUCIUS M. CHI=SHIRE (RETIRED) <br />June 7.7, 2003 <br />~`~: ~; f <br />', ;. <br />:, , .,, <br />. „ ,~..ec. .,... <br />I am enclosing herein proposed options and memoranda for <br />the three properties we discussed as a potential site for the new <br />middle school. I have negotiated these terms with Mark O'Neal. <br />His respective clients have not approved these drafts but have <br />agreed to these terms and I anticipate few changes. The essentials <br />are as follows: <br />OWNER ACREAGE PURCHASE PRICE 6 MONTH OPTION PRICE <br />Owen L. Allison & 46.76 $550,000.00 $16,500.00 <br />Mabel C. Allison <br />L.B. Daniel & 19.96 $225,000.00 $6,750.00 <br />Karen B. Daniel <br />H.C. Euliss Trust 33.90 $508,500.00 $15,255.00 <br />The Option prices are all 3a of the purchase prices. Mr. and Mrs. <br />Allison and Mr. and Mrs. Daniel are willing to grant an additional <br />six month option extension for an additional 5~ of the purchase <br />price. The Euliss Trust is unwilling to extend the six month <br />option. <br />As per our discussion, the Euliss property and perhaps a <br />portion of the Allison property would not be necessary for the <br />middle school, however, it is available should the County wish to <br />purchase it on these terms for other purposes of joint use <br />planning. Certainly its value will be enhanced if water and sewer <br />are extended to the adjoining property for a school. <br />We are hopeful the County can consider these in the near <br />future so w~e can proceed with the testing necessary to determine if <br />these sites will be appropriate for the new middle school. I <br />appreciate your assistance in this process. <br />