Everett,
Here's a slightly-edited quote of your first paragraph:
Quote
Everett Lueck
OK, Just so I get the sequence of events and facts clearly.
Larry Salone agrees to purchase the some LAND ONLY in Mount Union from the Kovalchick family . He takes a one year mortgage on the land only for $600,000, with the entire principal due at the loan anniversary.
The conveyance does NOT include anything located on the surface, including the gob pile, buildings or ANY RR track or equipment, and also does NOT include any mineral rights. It also reserves to the Kovalchick family exclusive right to remove or use anything that also exists on the surface or under the surface.
The main clarification is that the land Salone/EBTPA purchased is within Mount Union.
Wayne's June 3, 2013 Trains.com newswire article "First section of East Broad Top sold" (subscription required) said:
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Wayne Laepple, in Trains.com Newswire:
The East Broad Top Preservation Association has purchased its first section of the fabled East Broad Top Railroad, according to Association President Larry Salone. The first segment includes the standard gauge trackage from the Norfolk Southern main line to Route 522 in Mount Union, including the yard in Mount Union. Salone says the next phase of the acquisition will include the railroad from Route 522 to the Aughwick Creek bridge, and he hopes this will be completed in the next 30 days.
I do not know whether or not the "next phase of the acquisition" happened or not, nor do I know the purchase price(s) of the land.
I cannot answer any of the excellent questions you asked in the 3rd paragraph of your post.
I did notice that the EBTPA used two different mailing addresses: the mortgage has a Rockhill Furnace address, while the "Donations can be sent to EBTPA" address is PO Box 585, DuBois, PA, 15801. (That Dubois address is mentioned in
this NRHS item on the EBTPA.)
A quick search will show you that there are multiple companies operating out of that PO Box.
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Chris Webster