PROPERTY TRANSFERS

1. A house on 2.2 acres at 69 Pocomo Road sold to 69 Pocomo Nominee Trust of Greenwich, Conn. from George Townsend, Virginia Glasgow, Stephen E. Townsend, James R. Townsend and Margot T. Young of Rochester, N.Y. for $5,300,000. The property is assessed at $6,336,900. The land bank fee is $106,000. 2. Ahouse on .06 of an acre at 40 Orange St. sold to William F. Hunter of AGS Nominee Trust, u/d/t dated March 12, 2007 of Nantucket, Mass. from John Yozell and Abby P. Yozell of Sherborn, Mass. for $2,970,000. The property is assessed at $2,768,500. The land bank fee is $59,400. 3. A house on 2.7 acres at 27 Longwood Drive sold to Patricia G. Cosgrove of Haverford, Pa. from Philip H. Hubbard and Fayette S. Hubbard, Trustees of 27 Longwood Drive Realty Trust of Siasconset, Mass. for $2,300,000. The property is assessed at $1,663,700. The land bank fee is $46,000. 4. A house on .8 of an acre at 312 Polpis Road sold to Robert C. Kuratek and Welby C. Kuratek of Nantucket, Mass. from Christine F. Matthews, Trustee, of New Canaan, Conn. for $1,410,000. The property is assessed at $1,780,300. The land bank fee is $28,200. 5. A house on 2.7 acres at 20 Longwood Drive sold to Jason A. Olbres and Nichole L. Marks of Nantucket, Mass. from Ronald E. Gots and Barbara E. Gots of Bethesda, Md. for $1,250,000. The property is assessed at $1,261,100. The land bank fee is $25,000.

6. A vacant lot on 4.3 acres at 6 Pout Pond Road sold to the Nantucket Islands Land Bank of Nantucket, Mass. from Morton and Dorothy Kaufman of Nantucket, Mass. for $1,200,000. The property is assessed at $1,105,300. The land bank exemption is A. 7. A timeshare interval at 41 Starbuck Road sold to Laura Schultz of Upper Brookline, N.Y. from John W. and Catherine C. Vlandis of Tallahassee, Fla. for $35,000. The property's assessed value is unavailable. The land bank fee is $700.

1 8. A timeshare period, Interval F-17 in Unit F at the Mariner House at 30F Centre St. sold to Siobhan Sheils and Alanna Sheils of Quincy, Mass. from Kenneth Viafore and Karin Viafore of Duxbury, Mass. for $8,000. The property's assessed value is unavailable. The land bank fee is $160.

2 9. Ahouse and business on .05 of an acre at 8 Oak St. sold to Thomas N. Trust, LLC, of Middleton, Mass. from Thomas N. Katsapetses, Trustee of Thomas N. Trust, of Middleton, Mass. for less than $100. The property is assessed at $2,808,600. The land bank exemption is I.

10. A house on .13 of an acre at 2 Thurston's Way sold to DJK Management, LLC, of Wellesley, Mass. from Dennis B. Sullivan of Wellesley, Mass. for $10. The property is assessed at $408,000. The land bank exemption is I. 11. A timeshare interval at 5 Midland Ave. sold to Daniel C. Sherman of Leominster, Mass. from Clifford Sherman of Leominster, Mass. for $1. The property's assessed value is unavailable. The land bank exemption is C.

12. A vacant lot on .36 of an acre at 65 West Chester St. sold to Richard H. Brooks and Susan G. Brooks of Nantucket, Mass. from The West Chester Street Nominee Trust of Nantucket, Mass. for $1. The property is assessed at $934,300. The land bank exemption is D.

13. A vacant lot on .23 of an acre at 63 West Chester St. sold to Richard H. Brooks and Susan G. Brooks of Nantucket, Mass. from The West Chester Street Nominee Trust of Nantucket, Mass. for $1. The property is assessed at $934,300. The land bank exemption is D.

3 14. A house on .03 of an acre at 10 Still Dock sold to George W. Penny, III and Mary D. Haskin, Trustees, of Washington, D.C. from George W. Penny, III of Washington, D.C. for $0. The property is assessed at $1,748,000. The land bank exemptions are C and D.

15. A house on .17 of an acre at 3 Spring St. sold to Sheryl L. Schobel, as Trustee of Three Spring Street Nominee Trust of Whitehouse Station, N.J. from Alexander M. Schobel and Sheryl L. Schobel of Whitehouse Station, N.J. for $0. The property is assessed at $1,234,200.

The Nantucket Islands Land Bank gained $265,460 in transfer tax fees for the week ending May 19. For 2007, the Land Bank gained an estimated total of $5,423,812.13 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.

4 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 $400,000).

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

org. Or visit the office at 22 Broad St. I

6