To: 'eevacation mail.com[jeevacation@gmail.com]
From:
Sent: Mon 4/26/2010 3:34:46 PM
Subject: actually its part of a $600 million loc
JPMorgan Chase extends Henry Kravis $62,000,000 mortgage
Henry Kravis has some spare change, made a little history and you might want to find out the name of his
property appraiser. In what may become known as the largest residential mortgage in the history of Palm
Beach. Mr. K's 700 North Lake Way LLC, the owner of record for his more than live-acre lakefront Palm Beach
estate, has been extended a $62,000,000 mortgage as part of what reads like a much greater revolving mange
de credit from JPMorgan Chase, according to recent Palm Beach county court filings. Appearing to have
completed their renovation magnifique of 700 North Lake Way, Henry and Marie-Josee Kravis had purchased
the landmarked house in 2006 for $50 million, now currently assessed and appraised for $43.7 million by the
county's property appraiser. Mr. Kravis is ranked No. 201 on the Forbes 2010 B-list. Just a few blocks south at
the slightly more economical 410 North Lake Way, US Marshal's are still waiting for $7.25 million for the former
Medoff maison de plaisance.
The mortgage agreement itself is more than 50 pages long. Clemmer said it gets really interesting around about
page 4. I looked at page 4 and almost fell asleep (see for yourself above). You had to be there (with Clemmer
explaining).
EFTA_R1_01494636
EFTA02426073
Page four of the $62.000.000 mortgage.
EFTA_R1_01494637
EFTA02426074