Thank you so much for your response. This is such good news for us! The 23 right-of-way fragments that you have identified will be essential to our goal of completing a continuous rail trail across Carter County. Now we have an opportunity to really move forward. First, I wish that it were a matter of the county negotiating a price with CSX. I spoke to our County Judge Executive this morning, and he told me (as I had expected) that the county would have very limited resources that they can contribute toward such a purchase: "If CSX is willing to deed it to the county for a dollar, we would gratefully accept it". I assume that CSX does not have that type of transaction in mind. I have personally bought and sold quite a number of parcels of real estate, but not of those transactions were at all similar to this situation. I've thought about it for a few days and would like to suggest some alternative means of arriving at the desired goal: Option 1: CSX could make an immediate contractual committment to sell the parcels to Carter County. The committment might be for specified period of time. Once the committment has been made, we would contact the Governor's Office of Local Development (GOLD) and make application for a state grant which would give us the necessary funds. It is my understanding that the prescribed procedure is for us to obtain an appraisal on the parcels, the state would then provide 80 percent of the appraised value as the purchase price. A significant consideration would be that we wouldn't know how much to ask for as a grant until we had a prelimiary appraisal in hand. Even a preliniary appraisal might be quite expensive. CSX would also need to consider that the funding of the purchase money grant would have to go through an application, review and approval process that could easily take a year and perhaps longer. Option 2: If CSX would like some substantive evidence of our committment and good faith, I would be willing to personally contract with CSX for an easment accross the parcels in question for a specified perios of time: three years perhaps. I would be willing to pay some reasonable sum for the right to the easement (say $5,000). Once I have the easement contract in my name, I would start the grant funding process through the GOLD office, and such other potential grant sources as we can identify. When it comes available, the grant money would be used to buy out my easement and complete the purchase of the parcels from CSX. Option 3: I would be willing to negotiate for the purchase of the fragments in my name in fee simple. As with option 2, when grant funding becomes available, Carter County would then purchase the parcels from me. I would be agreeable to entering into a side agreement with CSX such that, any moneys paid by Carter County in excess my purchase price would pass through to CSX. As stated above, the second purchase price would be determined by an appraisal. There would be a small (I hope) risk that the appraised value for the county's purchase would turn out to be less than what I paid CSX, in which case I would subject to losing the difference. Under options 2 and 3, it is my intent that, although I am taking a financial risk, I will not profit from the transfer of ownership of the parcels to the county. The foregoing proposals assume that CSX's primary interest is to maximize the company's financial return on these parcels. If there are other, less tangible compensations that CSX would consider: trail or park naming rights, advertising rights, an annual day of recognition, etc., we would certainly be open to such suggestions. In closing, I would like to express my sincere thanks for your company's positive response to our inquiry. I know these are difficult times for many American businesses, and your willingness to consideration of our proposal is very much appreciated. --- On Fri, 11/7/08, McMahon, Bruce wrote: From: McMahon, Bruce Subject: CSX Right of Way Fragments To: jwgrace99@yahoo.com Date: Friday, November 7, 2008, 6:01 AM Mr. Grace, it appears CSX retains ownership to several fragments of the former C&O line extending through Carter County in addition to those you listed in your recent letter. There are 23 of these fragments which locate sporadically throughout the County with a total area of approximately 95.48 acres. In the July 1, 1991 Disclaimer you referenced that CSX filed in Carter County public records the Railroad “disclaimed” all right and interest it had in the parcels where there was “less than fee” ownership. It would be necessary for us to again review the title to these remaining 23 parcels, but I would suspect that CSX holds fee interest to all of them. If the County desires to pursue the purchase of these properties please submit an offer for our consideration.