Shortly before his departure for NY on the trip that ended with his death, Valentino and Ullman are said to have signed an agreement with the Beverly Ridge Company for the purchase of 110 acres of hills, stretching from Falcon Lair, the Valentino home to the Chaplin and Pickford-Fairbanks estates. The property was to be cut up into home sites of five and ten acres each and sold to members of the film colony. Pola Negri was among those who had agreed to build on the land, according to the report. It was the plan of Valentino to erect a stone wall enclosing the entire tract, with gates keepers lodges at the three entrances. Behind these walls, the residents of Valentinotown were to live shielded from the gaze of curious tourists. The property was valued at approximately a million dollars, the Hanson Finance Company holding a mortgage for $700,000. Valentino and Ullman when they signed the contract calling for the payment of $140,000 within sixty days also issued a note for $20,000 payable in thirty days. The note fell due as the actor lay on his deathbed. Then the contract expired, Ullman failing to make good the $140,000. As a result of this, the Hanson Finance Company foreclosed on the property, throwing the Beverly Ridge Company into bankruptcy, according to attorney Andrews. Beyer as receiver has made several demands on Ullman for the amount of the note and the contract. On the advise of Attorney Gilbert, these have been ignored, resulting in the notice by Andrews of court action.