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Acquisition Improvement Sale
Property Sold Sale Price Cost Cost Date
35 acres, Unit #4 $350,880 $153,732.00 $77,550.00
12/31/77
7 acres, Unit #5 175,000 58,670.00 80,901.72
10/18/77
7.3 acres, Unit #6 300,000 32,802.22 49,496.61
3/31/81
41 acres, Unit #7 2,460,000 369,583.00 249,550.00
4/12/85
13.43 acres,
Unit # 8,
phase one 1,347,000 121,060.00 137,123.96
11/18/85
10.53 acres,
Unit #8,
phase two 1,053,000 94,919.74 5,718.20
8/24/87
16.23 acres,
Unit # 9 1,054,950 146,300.79 63,122.23
6/30/87
On March 15, 1985, Ridgemark agreed to sell the units 7 and
8 properties to Financial and Construction, respectively. By
that time, Ridgemark had acquired tentative maps for units 7 and
8. The agreements provided that, concurrently with the recording
of the final maps for units 7 and 8, Ridgemark would sell the
properties to Financial and Construction. On April 12, 1985, and
November 18, 1985, the final maps for units 7 and 8,
respectively, were granted and the transactions concluded.
On February 24, 1987, Ridgemark agreed to sell the unit 9
property to Financial. By that time, Ridgemark had obtained
approval for a tentative map. The agreement contains a clause
providing that within 90 days of the recording of the final map
for unit 9, Ridgemark would sell the property to Financial. The
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Last modified: May 25, 2011