EXHIBIT V

Sale of Florida Lots

1. Note from President Nixon to Patricia Nixon, June 28, 1967

2. Letter from Frank DeMarco to Arthur Blech, April 2, 1973

3. Letter from President Nixon to Donald C. Alexander, March 12, 1974

$20,000.00

Exhibit V-1

New York City, New York

June 28, 1967

On demand, I promise to pay to the order

of Miss Patricia Nixon the sum of Twenty-Thousand ($20,000)

Dollars with interest at the rate of six

annum thereon from July 1, 1967.

percent per

Richard M. Nixon

As you know, this office has been representing President Richard M. Nixon in connection with his personal, nonpublic affairs for some time. In that capacity, we have assisted in the preparation of his federal income tax returns and are personally acquainted with his business affairs.

You have been designated by us to keep the books
of account and to prepare the federal income tax returns
for the President and Mrs. Nixon. You are advised, in that
capacity, and you are entitled to rely on the representations
made in this letter, that on or about April 1, 1967 Mr. Nixon
'borrowed the sum of $20,000 from his daughter, Patricia
(Tricia) Nixon, for the express purpose of investing same
in the acquisition of two parcels of real property in Dade
County, Florida, commonly known as lots 11 and 12, Cape
Florida Development Tract, Dade County, Florida. A check
evidencing said transmittal of said funds was signed by
Miss Nixon and delivered to her father at that time. The
arrangement between Mr. Nixon and his daughter at that time
was as follows: Mr. Nixon was to have use of the funds for
the express purpose of purchasing the subject property; was
to manage and care for same and to pay all expenses in con-
nection therewith. Their agreement was that in the event
said property was sold, Miss Nixon was to have the return
of her $20,000, together with 40 percent of the profit from
the sale. Mr. Nixon and his daughter characterized her
interest in the property as a "profit participation interest",
and she was to have no management or control over the prop-
erty, but merely the aforesaid share in the profits, if any.
Miss Nixon was guaranteed the return of her $20,000 on such
sale, and in no event was she to be deprived of that sun.

LAW OFFICES

KALMBACH, DEMARCO, KNAPP & CHILLINGWORTH

Arthur Blech, C.P.A.
April 2, 1973
Page Two

A memorandum of this transaction between Mr. Nixon and his daughter was prepared and signed by them sometime after the initiation of the transaction and prior to the sale of the subject property which occurred in December 1972. We shall supply you with copies of that memorandum.

For purposes of your completing the 1972 income tax returns for Mr. Nixon on the one hand and for Tricia Nixon Cox on the other hand, you are entitled to rely on the foregoing information.

FDM: gem

Very truly yours,

Jean De taugh

FRANK DE MARCO, JR.
For the Firm