121 Camp St Unit 137 Cape Cod 5 Foreclosure Letter September 10 2009 0,
Cape5 , Cape Cods
Hyannis Commercial Lending Office • (800) 678-1855 Community Bank
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" "' 171 Falmouth Road • Hyannis,Massachusetts 02601 • Fax: (508) 790-9216
Since 1855
Member F.U.L . J
THE CAPE COI)FIVE CENTS SAVINGS BANK
September 10, 2009 j t m
Mary Waygan SAP 1 4 2009
Community Development Office
Town of Yarmouth L,
1146 Route 28
South Yarmouth, MA 02664
Re: Unit 137, 121 Camp Street, West Yarmouth, MA
Dear Mary,
It was a pleasure speaking with you today regarding the above-mentioned affordable
condominium Unit at Mill Pond, which the Bank foreclosed on and bought back on
August 26, 2009. As discussed, in accordance with an agreement between the Bank and
Mass Housing, which owns and controls the project,we will contact both the Town of
Yarmouth and Housing Assistance Corp. (HAC) in Hyannis to see if there are any
qualified affordable housing candidates known or on a list that may be interested in
purchasing this Unit.
If you do have someone qualified,please contact me as soon as possible, as time is of the
essence, so we may attempt to consummate a purchase agreement. As you know, the
Bank bid $124,000 at auction. In addition,we have legal costs as well as cleanup
expense. We do not have an asking price yet, and believe I need to figure that out with
the affordable formula.
If you or HAC do not have any qualified and willing buyers, by agreement the unit will
become a market unit and the Bank will sell the property without the affordable rider
component.
Again, thank you for your call and I will await hearing from you at your earliest
opportunity.
Very Truly Yours,
Richard A. Guild
Vice President