Notice of Exercise of Option under Option Agreement between Hines Nurseries, Inc. and Triad Communities, L.P.

Summary

Triad Communities, L.P. has formally notified Hines Nurseries, Inc. of its decision to exercise its option to purchase property, as outlined in their Option Agreement dated April 30, 2003. This notice triggers the closing process, which is set to occur 30 days from the date of this letter. The letter also informs the involved escrow officer and legal representatives. The main obligation is for both parties to proceed with the property transaction according to the terms previously agreed upon.

EX-10.27 6 hines_10kex10-27.txt EXHIBIT 10.27 TRIAD Communities, L.P. Letterhead PIER 70 2801 ALASKAN WAY, SUITE 107 SEATTLE, WA 98121 ###-###-#### ###-###-#### FAX March 1, 2006 VIA FACSIMILE AND - ----------------- CERTIFIED MAIL, POSTAGE PREPAID, RETURN RECEIPT REQUESTED - --------------------------------------------------------- HINES NURSERIES, INC. RUTAN & TUCKER, LLP 12621 Jeffrey Road 611 Anton Boulevard, Suite 1400 Irvine, California ###-###-#### Costa Mesa, California ###-###-#### Attn: Claudia Pieropan Attn: Randall M. Babbush, Esq. Robert Ferguson Joseph L. Maga, Esq. Facsiimile: (949) 786-0986 Facsimile: (714) 546-9035 FIRST AMERICAN TITLE COMPANY 1355 Willow Way, Suite 100 Concord, California 94520 Attn: Molly Baier, Escrow Officer Facsimile: (925) 356-7039 Re: Option Agreement, dated April 30, 2003, by and between Hines Nurseries, Inc. ("OPTIONOR") and Triad Communities, L.P. ("OPTIONEE") (as amended, the "OPTION AGREEMENT") This letter is Optionee's written notice of Optionee's irrevocable exercise of the Option and shall constitute the Option Notice under Section 4 of the Option Agreement. Pet the terms of Option Agreement, the "Close of Escrow" shall be thirty (30) calendar days following the date of this Option Notice. Sincerely, TRIAD COMMUNITIES, L.P. By: Triad Sky Valley LLC, Its General Partner By: /s/ John A. Goodman Name: John A. Goodman Its: Manager