EFTA02598402.pdf

From: Mark L. Epstein < Sent: Monday, July 9, 2018 6:30 PM To: [email protected] Subject: Fwd: Comanche info For your amusement. li=e been working them. clewing them down) Sent via tin can and string. Begin forwarded message:=br> From: Ward Setzer <manta Date: Jul= 9, 2018 at 14:49:15 GMT+2 To: <mailto: >"< <mailto: Subject: Re: Comanche info Hi Mark, Thanks for the update and I do hop= you find a way to move lzmo to a solution that works for you. As for Comanche, the owners do kno= the situation with the donation and they just will not discuss it any more= As for your offer of 1.3 I will certainly pass it along that you are stillropen to purchase the vessel at that number. Knowing them, if they were to accept the offer it would be an a=-is, where-is kind of transaction. They still pay the crew every day and th= overheard of the covered slip and various upkeep items. We now know the previous offers ha=e not been acceptable or of interest to the family. I know with any such lo=er offers they do not wish to play into surveyor punch lists as they have a=ready paid for the Patton Marine survey and addressed those minor findings a year ago. So if they were to ta=e a 1.3 offer I feel for certain they would say it has to be an as-is sale s=bject only to a hull survey. I hear you, it is frustrating as l=have learned all the same things you have. EFTA_R1_01784408 EFTA02598402  Hope your travels go well and let m= know if you have any other ideas and I will present anything that might fl=at. Regards Ward From: Mark L. Epstein < > Sent: Sunday, July 8, 2018 4:08:05 AM To: Ward Setzer Subject: Comanche info Hi, Hope all is well. I'm travelling overseas for a few weeks but=am still in the process of divesting myself of limo. Working on a num=er of possibilities. As you know, limo is worth more to me as a donation=rather than a sale, in particular because I can get if off of my plate soon=r. I was hoping the same would be true for Comanche an= her owners. I figured that if Comanche was worth more as a donation,=the owners might be convinced to donate Comanche and then I would buy/lease=it at the right price from the charity. I took the liberty of asking Norm Leblanc, the appraiser of limo, and also c=incidentally the appraiser of Patriot, what he would estimate Comanchet>=99s appraisal would come in at. Unfortunately he said tha= it would be about $2.8 million, maybe a little more. Using that figure, and a 37% tax rate, donating Comanche would be worth jus= over one million dollars. Not good news. &nbs=; With this new info, I will not consider raising my offer of 1.3 MM for Co=anche. (I would like to lower it, but I will not retract the offer I made). Bear in mind that Patriot was sold/leased f=r only around $2 million or so, after a $10+ million upgrade in 2007. =nbsp; Sharing this info with the owners, assuming they have not done t=eir own research on the subject, might open their eyes. 2 EFTA_R1_01784409 EFTA02598403 Thanks, Mark EFTA_R1_01784410 EFTA02598404