From: KAre I. Moljord czMI

From: KAre I. Moljord czMI > To: "jeevacation®gmail.com" leevacation®gmail.com> Subject: Option Agreement and Lease Agreement [ADEB-LEGAL.FID6887] Date: Tue, 20 Mar 2018 08:01:28 +0000 Attachments: AdeB_7225793_v_1_TRL_grunnbok_(4).PDF; AdeB_7228097_v_l_Option_agreement_lease_agreement_May_9,_2011.PDF Inline-Images: image002.jpg Hi, Jeff, Following a call with Terje yesterday I enclose copies the option agreement and the lease agreement executed by both Morits and Terje. As you will see the parties (unfortunately) executed draft versions. We offered both agreements to be prepared in proper execution versions, but such offer was turned down. I do not know the whereabouts of the originals, probably with Mortits, says Terje. And this seems to be confirmed in an recent e-mail to me from Morits. Please also note that the lease period and the notice period in the option agreement have expired, and that we have not been asked to review or render advice as to the terms of the agreements or legal status in light of the current situation. Please also note that Morits in an recent e-mail to me indicated that no communication as per section 2 in the option agreement "was in his tile", implying that the option was never called (in due time) in writing. On the other hand Morits stated that he and Terje would sort this out "preferably without lawyers" thereby probably admitting a weak position at least in light of the MNOK 25 mortgage registered within the notice period, and possibly also as to acceptance by Morits of the oral agreement Terje claims in terms of his oral call of the option. Both agreements have provisions allowing Terje to register the agreements as liens in the applicable real property register. Given the possibility of bankruptcy my advice is to register both agreements now to perfect the liens in due time prior to bankruptcy, if any, with respect to Morits personally, if not for the better at least to strengthen the position in negotiations with his creditors. I have enclosed an excerpt from the real property register disclosing details of registered liens etc. You will see that the property was purchased by Morits for MNOK 12,6 in June 2O11, but with no mortgage registered until the MNOK 12,5 mortgage to Enskilda Bank in March 2013, reduced to MNOK 4,o in early 2016, probably to avoid problems for the call of the option within the notice period. This fact may possibly be used to support an oral agreement that the option in fact was called? However, prior to this, in December 2O15 , DNB registered a "non transferable" MNOK 25 mortgage. Please confirm safe receipt of this message and the enclosures. Best Kim VENNLIG HILSEN BEST REGARDS, Kare I. Moljord Partner • Advokat (H) • Supreme Court Lawyer Tel: I cid:image001.jpg©01 D2456E.0663D250 Amtzen de Besche Advokatfirma AS Switch: +47 23 89 40 00/ Post Box 2734 Soul. 0204 Oslo. Norway Visit: Bygdey alio 2, 0257 Oslo, Norway / NO 982 409 705 MVA EFTA00855136 www.adeb.no 1st place in total transaction value among Norwegian law firms in 2015 (MergerMarket - league tables worldwide) Client Service Law Firm of the Year 2014 (Chambers Europe) This e-mad and any attachments hereto may contain information that is confidential or legally privileged. iris intended only for the person(s) to whom it is correctly addressed. 11 you have received On e-mail message in error please nobly the sender immediately by replying to this e-mad and delete the email without making a copy. EFTA00855137