From: Terje Rod-Larsen ..r

From: Terje Rod-Larsen ..r > To: "[email protected] <[email protected]> Subject: Fw: I: Duino Castle - Accounting, Personnel, Price Date: Thu, 14 Jul 2011 12:40:18 +0000 Importance: high Attachments: Attachement_A_Personneln infinglish.doc; Castle_and_Wooded_Slopes.jpg; Halljpg From: Patrick KYD-REBENBURG To: Terje Rod-Larsen Sent: Wed Jul 13 09:56:09 2011 Subject: I: Duino Castle - Accounting, Personnel, Price Terje, Herewith also info regarding - Personnel and Accounting as well as - furniture and art not being part of sale - my commission from seller being added to price Best regards Patrick Kyd-Rebenburg Agenzia Immobiliare Patrick Kyd-Rebenburg Ruolo Agenti di Affari in Mediazione: Camera di Commercio Gorizia N° 487 C.F.: KYDPRC61RO2Z600Y - P.IVA: 01052460316 Via Roma 63 I-34077 Ronchi dei Legionari (Gorizia) Italia Tel. - Fax Da: Patrick KYD-REBENBURG Inviato: venerdi 21 gennaio 2011 2 : A: Oggetto: Duino Castle - Accounting, Personnel, Price Priorita: Alta Terje Rod-Larsen Ronchi dei Legionari, 21 January 2011 Dear Terje, The information regarding the accounting of Duino Castle was finally ready today. EFTA01166585 The Castle of Duino was opened to the public in 2003. Already in the time just before that opening it was necessary to execute a considerable number of maintenance works, establishing security and adhering to legal standards, so that the opening could be authorised. The repositioning of the central heating plant to outside the main complex, the renewal of all heating, water and sewerage installations, adjusting the electrical in addition to the enlarging of the security installations, now run by a central control equipped with video surveillance, fire-alarm and intrusion-alarm to legal standards all go back to that period. Regarding the security situation the owners want to remind of the fact that the Castle of Duino has hosted over time a very high number of important personalities, such as presidents of state, royals form Spain and England, the Princess Sarvath El Hassan of Jordan, of business, finance and world politics, among which the Trilateral Commission with the then President David Rockefeller, all with the imperative requirement of being received in a highly secure location. Precisely because of its location and conformation the Castello di Duino has always shown itself prepared for such events and easily controllable by whoever was in charge of security of such VIPs. Regarding the accounts, we have to refer to the public use of the property. As mentioned, since 2003 the castle is a museum open to the public and in addition inside the castle and its grounds a whole series of events take place which make use of the halls for gala dinners, congresses, art exhibitions and private parties. The running costs are therefore related to these activities and the personnel engaged for it. 1) Annual Fixed Costs: we can consider as fixed those costs for the management and maintenance of the property, which presently however are all taken care by Castello di Duino s.r.l., the management company engaged with the abovementioned. The only costs excluded from that management are a part of the waste fees chargeable to the Principi della Torre e Tasso equal to circa Euro 2,000 per annum and of the employee at the gate who creates a gross cost of circa Euro 15,000 p.a. The Castello di Duino s.r.l. pays the electricity costs, of circa Euro 14,500 p.a., gas heating for circa Euro 15,000 p.a., and water both for the castle and the park for ca. Euro 5,500 p.a., insurance ca. Euro 6,500. 2) Taxes: The Castello di Duino s.r.l. pays to the Comune di Duino Aurisina a separate part of the waste fees for about Euro 1,200 p.a. which refers to the museum activity. The ICI, (local property tax) is however charged exclusively to the Principe and as a property "vincolato" (protected heritage) benefits from a reduced tax regime: annual cost is fixed at ca. Euro 5,600. 3) Operations: the normal maintenance of the estate does not create particolar costs as everything is very much in place i.e. in good condition and if everything is regularly controlled, the maintenance [cost] is minimal. It should be remembered that in 2008 a very strong storm (wind and rain) had caused very serious damage to the whole property, knocking down many plants [trees] with high trunks in the park which in turn demolished little dry walls and terracing. Consequently extraordinary maintenance work became necessary, with the reconstruction of the roofs, façades, restoration of the statues in front of the Sala Grotta, the redoing of the roof of the Congress Centre. Substitution of windows and shutters. All the stone walls of the park were put back into a secure state and all the plants [trees] which had fallen altogether or been partly weakened were felled. The whole park today presents itself in perfect order. The sum of the cost sustained as a consequence to this event amounts to a ca. Euro 1,300,000. 4) Capital: there is a loan FRIE with Unicredit Banca which will however be settled and closed with the new contract of sale. There is no other burden on the property. 5) Number and Cost of Employees: see Attachement A 6) Personnel: All the employees, with the exception of Signora Rinaudo, Gatekeeper, have a contract with Castello di Duino s.r.l. - see Attachement A 7) Cadastral Extracts: All the cadastral data concerning the property and showing The Principe della Torre e Tasso as proprietor are correct. 8) Management company: The Castello di Duino s.r.l. is [only] a management company. The principal activity of this company is that of a museum and over the last three years the average EFTA01166586 number of visitors annually was between 60,000 and 65,000 visitors. Duino, 20 gennaio 2011 In the absence of the Principe della Torre e Tasso (owner), who was on vacation far away, but with his knowledge and authorisation, all the above information was supplied by the manager of the estate, who has always worked for the family and is in fact the sixth generation of his family working for the Della Torre e Tasso. Obviously trusted and reliable. The original information was supplied in Italian and translated by myself. IMPORTANT Of the attached photos the one with the Hall shows also some furniture and art which is no longer in the castle and is also not part of the sale. IMPORTANT Regarding Price: As mentioned in my previous communication, the price the Seller is asking is the net price which he insists on receiving after all deductions. He is therefore also not prepared to deduct my, i.e the mediating agent's commission from the Seller's side which is also 2 % plus VAT . This will therefore have to be added to the Price mentioned to you. I hope you and your beautiful and charming family are well and wish you a very nice week-end. Best regards Patrick Kyd-Rebenburg Agenzia Immobiliare Patrick K d-Rebenburg EFTA01166587