Step 02
Read the Real LOI
The actual offer, term by term
Letter of Intent — "Really Cool RV Park", WA
Pace's actual redacted LOI (July 2026, via Clamp Holdings, LLC). Names and address are placeholders; the terms are real. Tap each clause for the why.
Download the LOI (PDF) ↓Purchase Price: $4,000,000.00
Down Payment: $400,000.00
Senior Financing — A: Assume or Wrap existing note of apx balance $2,300,000.00 at 6.5% interest amortized over 25 years.
B: Buyer to obtain their own bank financing of an apx balance of $2,300,000.00 with acceptable terms to buyer
Seller Finance: $1,300,000.00
— from the LOI, verbatimWhy it's written this way
Only 10% down on a $4M commercial asset. The trick is the middle of the stack: instead of borrowing $3.6M of new bank debt, Pace keeps the seller's existing 6.5% note alive (option A) and has the seller carry the rest. Option B is the escape hatch if the existing lender won't play ball.
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