October 7, 1996
Sent Via Facsimile
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Xx. Xxxx X. Xxxxxxx
Balcor Management Services, Inc.
0000 Xxxxxxxx Xxxx, Xxxxx X000
Xxxxxxxxxxx, XX 00000
RE: Purchase Contracts Regarding:
Glades Apartments
Granada Apartments
Hollowbrook Apartments
Palm View Apartments
Plantation Apartments
Dear Xxxx:
This letter shall confirm our conversation of today whereby Housing
Systems acknowledged that they will be executing financing applications on the
above referenced transactions and paying the appropriate application fees by
October 8, 1996. Please acknowledge in the space provided below that, pursuant
to Paragraph 8 "Financing Contingency", Xxxxxx agrees to waive the affidavit
requirement and the Purchaser's xxxxxxx monies will not be at risk until the
expiration of the Financing Contingency (on or before October 21, 1996).
In addition, please confirm that the closing dates in the contracts are
hereby extended until November 20, 1996.
Thank you for your assistance. If you have any questions, please feel
free to call me.
Sincerely yours,
HOUSING SYSTEMS, INC.
/s/ Xxxxxxx X. Xxxxx
Xxxxxxx X. Xxxxx
Executive Vice President
AGREED TO AND ACKNOWLEDGED BY: /s/ Xxxx X. Xxxxxxx Date: 10/7/96
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Xxxx X. Xxxxxxx
Vice President
