To: Kevin Clarke who wrote (20357 ) 12/1/1999 3:19:00 PM From: Stock Watcher Respond to
Kevin; here's some info. on CYAA's activities this year, "On May 18, 1999, Diversified Holdings XIX, Inc., a consolidated subsidiary of the Company, closed on a sale of its real property located near the town of Cheriton, in Northampton County, Virginia. The property consists of several buildings and approximately 65 acres. The property was sold to Eastern Shore Composites, L.L.C. for a total purchase price of $700,000. The terms of the sale provide for an initial cash payment of $45,000 being credited to the purchase price, a promissory note, secured by a deed of trust, in the amount of $655,000 bearing interest at the rate of 9% per annum with monthly payments of principal and interest, with a balloon payment requiring the balance of the note to be paid in full on May 18, 2002. The new owner has and continues to work to resolve all environmental issues related to the property without further participation by the Company. For more information on this property, please "Item 2. Description of Property" in the Company's Form 10KSB for the year ended December 31, 1998.
