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1 KRESCENT PARTNERS L.L.C. 1301 AVENUE OF THE AMERICAS, 38TH FLOOR NEW YORK, NEW YORK 10019 January 8, 1997 American Holdings I, L.P. 100 South Bedford Road Mount Kisco, New York 10549 Re: KRUPP REALTY FUND, LTD.--III Ladies and Gentlemen: The parties...