PROPERTY TRANSFERS October 17, 2005 - October 21, 2005

1. 1. A house on .18 of an acre at 18 Cliff Road sold to J. Douglas Cassity and Rhonda L. Cassity of Nantucket, Mass. from Denise L. Olsen of Nantucket, Mass. for $2,950,000. The property is assessed at $1,873,500. The land bank fee is 59,000.

2. A house on .11 of an acre at 67 Quidnet Road sold to Anthony G. Perry, Trustee of Sweetwater Realty Trust of Vail, Colo. from Paul Hoppe of Concord, Mass. for $2,700,000. The property is assessed at $1,927,800. The land bank fee is $54,000.

3. A house on .55 of an acre at 3B South Mill St. sold to Le Select Properties, LLC, of Nantucket, Mass. from Patricia Harrington Schreiber, Trustee of 3B South Mill Street Nominee Trust of Nantucket, Mass. for $2,650,000. The property is assessed at $1,623,600. The land bank fee is $53,000.

2 4. A house on 1 acre at 46 Brewster Road sold to John F. Hennessey and Michael Sakala of Boston, Mass. from James C. Stokes, Trustee of MH Nominee Trust of Boston, Mass. for $1,850,000. The property is assessed at $1,562,300. The land bank fee is $37,000.

5. A house on .43 of an acre at 4 A St. sold to Oversea West Nominee Trust of San Francisco, Calif. from DJNAN, LLC, of Providence, R.I. for $1,731,250. The property is assessed at $855,200. The land bank fee is $34,625.

3 6. A house on 1.2 acres at 35 Boulevarde sold to Walter G. Grant, c/o Persimmon Capital Management, LP, of Plymouth Meeting, Pa. from Joseph Huber and Katherine Nichols of Nantucket,

Mass. for $1,685,000. The property is assessed at $1,003,000. The land bank fee is $33,700.

7. A house on .11 of an acre at 23 Orange St. sold to Robert B. Winebrenner and Sally Jo Winebrenner of Pittsford, N.Y. from C. Llwellyn Folger of State Road, N.C. for $1,650,000. The property is assessed at

1,668,300. The land bank fee is $33,000.

4 8. A house on .11 of an acre at 51 Milk St. sold to Brad L. Larson and Lisa I. Larson of New York City, N.Y. from James D. Carey and Robin Carey of Greenwich, Conn. for $1,225,000. The property is assessed at $654,600. The land bank fee is $24,500.

9. A house on .11 of an acre at 1 Cynthia Lane sold to Andrew Moyer and Jacqueline Moyer of Nantucket, Mass. from Erin Harmon Marshall of Nantucket, Mass. for $935,000. The property is assessed at $589,900. The land bank fee is $14,700 and the exemption is M.

10. A house on .08 of an acre at 4 Derrymore Road sold to Andrew T. Perlman of Boston, Mass. from Maurice J. Dee of Nantucket, Mass. for $925,000. The property is assessed at $18,500. The land bank fee is $18,500.

5 11. A house on .10 of an acre at 22 Madaket Road sold to Robert and Lois A. Hradil of New Providence, N.J. from Richard A. Sylvester and Debra L. Scirpo-Sylvester of Nantucket, Mass. for $675,000. The property is assessed at $460,100. The land bank fee is $13,500.

12. A condominium, Unit 17A, on Park Circle sold to T.S. Realty Group, LLC, of Lynnfield, Mass. from Cliff Acquisitions, LLC, of Nantucket, Mass. for $539,000. The property's assessed value is unavailable. The land bank fee is $10,780.

6 13. A house on .99 of an acre at 96 West Chester St. sold to Coughlin Realty Trust of Nantucket, Mass. from Linda C. Coughlin of Nantucket, Mass. for $1. The property is assessed at $2,109,700. The land bank exemption is D.

14. A house on .40 of an acre at 9 Doc Ryder Drive sold to the Doc Ryder Drive Trust of Nantucket, Mass. from Wesley E. Simmons of Nantucket, Mass. for $1. The property is assessed at $557,900. The land bank exemption is D.

15. A house on .91 of an acre at 148 Cliff Road sold to Patrick Dorton, Erin Dorton and Nels Olson of Washington, D.C. from Nantucket Sound, LLC, for $0. The property is assessed at $1,482,400. The land bank exemption is D.

7 The Nantucket Islands Land Bank gained $386,305 in transfer tax fees for the week ending Oct. 29. To date in 2005, the Land Bank has gained an estimated total of $18,970,591.12 in transfer fees. Land bank income is derived mostly from the collection of a two-percent transfer tax on real estate transactions, subject to certain exemptions. The land bank acquires, holds, and manages land for open space and recreation on Nantucket. Other revenue sources include investments, private contributions, leasing of the Lily Pond Cottage at 15 North Liberty St., and properties at 2 Massasoit Bridge Road, 159 Hummock Pond Road, and 22 Broad St.

8 NOTES ON EXEMPTIONS

Many of the property transfers recorded with the Land Bank are exempt from the 2-percent transfer fee using one of 13 exemptions allowed by the Land Bank Act as follows: A, transfer to government entity; B, transfer which, without additional consideration, confirms, corrects, modifies, or supplements a previously made transfer; C, transfer made as a gift without consideration; D, certain transfers to and from a trust; E, transfer via death or bankruptcy; F, transfer made in partition of land and improvements; G, transfer to charitable organizations; H, transfer to a mortgagee in foreclosure of the mortgage; I, certain transfers made to or within a corporation or partnership; J, certain transfers out of a corporation or partnership; K, transfer due to divorce; L, transfer of property that is partially personal property and partially real property; M, certain first-time property buyers (applies to the first $200,000).

9 The above explanations are abbreviated because the language explaining these exemptions is too lengthy to print in this section every week. If you are curious about a certain exemption, go to the Nantucket Islands Land Bank Web site for complete information and the Land Bank's governing bylaws: http://www.nantucketlandbank.org.

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