JOHN A. PETERS OFFICES AT COUNSELOR AT LAW ELLSWORTH AND BAR HARBOR Ellsworth, Me., August 11, 1910. Mr. George B. Dorr, Bar Harbor, Maine, Dear Mr. Dorr:- At the request of Mr. Wood, who I see has become the record owner of the Bowen property, I have sent to the First National Bank, of Bar Harbor, the original mortgages and notes,which I have covering the property, together with assignments to me and discharges by me of the same, with authority to deliver the same upon payment of the principal sums of the mortgages and interest at 7% up to March 9, 1911. I judge it will be a few days before the transaction is con- summated and I get the money, the First National Bank is placing some of their loan elsewhere. It seems that Mr. Wood and his associates, if he has any, have bargained about $9000.00 worth of lots to be paid for by making a small payment down, balance on mortgage. Mr. Searls,aft I saw you the other day, showed me 8. list of proposed mortgages to be taken from purchasers of lots and asked me if we would take any of the paper up here either in the bank, or in the Loan and Building Association. I told him that I regarded the security as poor; that I would only take such notes as I would take anyway on the strength of the names of the makers without regard to the security and I picked out some $2000.00 worth of the notes that I would be willing to take, but as they were notes that anybody would take, on account of the names, I presume it was no particular advantage to them as I have heard nothing since. He asked me what I thought would be a fair sum to loan on the 41 acres,more or less, in the rear of the front lots. I told him that I thought the selling off of the lots in front might be a serious injury to the back land and that I thought $3000.00 at the outside was enough to be loaned on a first mortgage of the back land even backed up by the personal Dorr 2- obligation of Fletcher and Charles Wood. I presume that the bank there will have to take a mortgage for a larger sum in order to finance it and they have evidently agreed to finance it as Charles Wood has recorded hie deed from Bowen. I presume his deed is made subject to the mortgage;- at any rate, of course, he cannot sell any lots and give title until the mortgage is paid in full. This is all I know about the situation at this writing They sold more lots to the people than I supposed they could at the time of my first conversation with you. I am inclined to think from what Harry Lynam tells me that Joy is selling some of these lots with a suggestion emanating from him per- sonally that you will buy all back later at an advanced price. Thus you are evidently of considerable financial benefit to Joy, although, perhaps, un- willingly on your part. Yours. very truly,