from 10-Q
1 page
May 1, 1997 Arborland Associates Limited Partnership ("Seller") C/O the Balcor Company Bannockburn Lake Office Plaza 2355 Waukegan Road Suite A-200 Bannockburn, Illinois 60015 Attention: Ilona Adams Near North National Title Corporation ("Escrow Agent") 222 North Lasalle Street First Floor Chicago, Illinois 60601 Attention: Lou Cohen Re: Purchase Agreement Dated March 18, 1997, as Amended, (The "Purchase Agreement") Between Seller and Crosstown Asset Corp. I ("Purchaser") for Arborland Consumer Mall, Ann Arbor, MI Ladies and Gentlemen: Purchaser Hereby Terminates the Purchase Agreement Pursuant to Section 7.1 Thereof. Attached Is the Required Due Diligence Termination Notice. Escrow Agent Is Hereby Directed to Return the Earnest Money Together With All Interest Accrued Thereon to Purchaser in Accordance With the Attached Wiring Instructions. Sincerely, Crosstown Asset Corp. I, a Delaware Corporation By: /S/ Thomas Haller Name: Thomas Haller Its: Vice President CC: The Balcor Company Bannockburn Lake Office Plaza 2355 Waukegan Road Suite A-200 Bannockburn, Illinois 60015 Attention: James Mendelson Katten Muchin & Zavis 525 West Monroe Street Suite 1600 Chicago, Illinois 60661-3693 Attention: Daniel J. Perlman, Esq. <page> Due Diligence Termination Notice May 1, 1997 Crosstown Asset Corp. I, a Delaware Corporation, as Purchaser Under That Certain Agreement of Sale Dated March 18, 1997, as Amended, Providing for the Sale of Property Located in Ann Arbor, Michigan, and Known as Arborland Consumer Mall Has Terminated the Agreement of Sale Pursuant to Paragraph 7.1 Thereof. the Undersigned Demands Return of All Earnest Money Deposited Under the Agreement of Sale Pursuant to Its Right Therein. Crosstown Asset Corp. I, a Delaware Corporation By: /S/ Thomas Haller Name: Thomas Haller Its: Vice President <page>
