April 23, 1997
VIA TELECOPY
Deer Oaks Limited Partnership
c/o The Balcor Company
0000 Xxxxxxxx Xxxx
Xxxxx X-000
Xxxxxxxxxxx, Xxxxxxxx 00000
Attn.: Xxxxx Xxxxx
Re: Xxxx Xxxx Xxxxxxxxxx, Xxx Xxxxxxx, Xxxxx
Gentlemen:
Reference is made to that certain Agreement of Sale dated as of March 24,
1997 by and between Sentinel Acquisitions Corp., as Purchaser, and Deer Oaks
Limited Partnership, as Seller (the "Contract"). Accompanying this letter
please find my client's Notice of Disapproval, as such term is defined in
paragraph 17 (c) of the Contract. In addition, by copy of this letter (with
accompanying document and evidence of Seller notification), I am providing to
the Escrow Agent the Due Diligence Termination Notice in accordance with
paragraph 2 of that certain Escrow Agreement dated March 31, 1997.
Sincerely,
/s/ Xxxxx X'Xxxxx
-------------------------------
Xxxxx X'Xxxxx
cc:
The Balcor Company
0000 Xxxxxxxx Xxxx
Xxxxx X-000
Xxxxxxxxxxx, Xxxxxxxx 00000
Attn.: Xxxxx Xxxxxxxxx
Xxxxxx X. Xxxxxxx
Xxxxxx Xxxxxx & Xxxxx
Suite 1600
000 Xxxx Xxxxxx Xxxxxx
Xxxxxxx, Xxxxxxxx 00000
Xxxx X. Xxxxxxx, Esq.
Xxxxxx Xxxxxx & Xxxxx
1999 Avenue of the Starts
Xxxxx 0000
Xxx Xxxxxxx, Xxxxxxxxxx 00000
Alamo Title Company
000 X. Xxxxx Xxxxxx, Xxxxx 000
Xxx Xxxxxxx, Xxxxx 00000
Attention: Xxxxxx X. Xxxxx
NOTICE OF TERMINATION OR SELLER'S DEFAULT
STATE OF NEW YORK )
) ss.:
COUNTY OF NEW YORK )
The undersigned, having been first duly sworn, does hereby affirm, depose
and state that Sentinel Acquisitions Corp., as Purchaser under that certain
Agreement dated March 14, 1997, providing for the sale of property located in
San Antonio, Texas and known as the Deer Oaks Apartments has terminated the
Agreement pursuant to Paragraph 17 thereof.
The undersigned demands return of all xxxxxxx money deposited under the
Agreement pursuant to his right therein.
IN WITNESS WHEREOF, the undersigned has executed this Affidavit on this
22nd day of April, 1997.
SENTINEL ACQUISITION CORP.,
a Delaware corporation
By: /s / Xxxxx Xxxxxxx
----------------------------
Xxxxx Xxxxxxx - Vice- President
Subscribed and sworn to before
me, a Notary Public in and for
said County and State.
/s/ Xxxxxxxx X. Xxxxxx
-------------------------------
Notary Public
