Cahuenga Peak, seen from the Hollywood sign side and from the seldom-viewed backside.

TPL has until April 14, 2010 to come up with the $12.5 million, otherwise, the property goes back on the market.

Howard Hughes bought the peak and the surrounding acreage in the 1930s with plans to build a house for his love interest at the time, actress Ginger Rogers. Ginger apparently declined the offer, so no house up there with the best view in town. What was she thinking? That must have been an interesting conversation.

If TPL comes up with the cash for the mountain top, it will transfer the Cahuenga Peak land over to adjoining Griffith Park, thus permanently protecting the view of the Hollywood sign and keeping the native chaparral landscape intact.