[Letterhead]
June 9, 1997
BY CERTIFIED MAIL
RETURN RECEIPT REQUESTED
Cinemastar Luxury Theaters, Inc.
000 Xxxxxxx Xxxxxxxxx
Xxxxxxxxx, XX 00000
Attn: Xxxx Xxxxxxx, Xx.
Re: Coconut Grove Marketplace Sublease Agreement Dated July 18, 1996
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Dear Xx. Xxxxxxx:
As a follow up to my letter of May 8, 1997, I am writing to advise you that
my clients understand that you have contacted their real estate broker,
Xxxxxxx Xxxx, and have advised Xx. Xxxx that Cinemastar will not be providing
the letter of credit requested by City Bank and, further, that Cinemastar is
not exercising its right to void the termination of the Sublease Agreement by
my clients as set forth in my letter of May 8, 1997 by agreeing to pay the
full cost and expense of the Cinemastar building in excess of $85.00 per
square foot.
Therefore, the purpose of this letter is to advise you that my clients,
Messrs. Xxxxx Xxxxxxxx and Xxxxxx Xxxxxxx, xxxx the Cinemastar Coconut Grove
Marketplace Sublease Agreement dated July 18, 1996 terminated as of this date
and the parties released and discharged from any and all of their
obligations, duties and liabilities under the Sublease.
Cinemastar Luxury Theaters, Inc.
June 9, 1997
Page 2
My clients consider it unfortunate that Cinemastar was unable to work with
them to make Cinemastar theater a part of the Coconut Marketplace project.
Very truly yours,
/s/ S.V. (Bud) Xxxxxxxxx
SVQ:sw
cc: Xx. Xxx Xxxxxxx
Mr. Xxxxx Xxxxxxxx
Xx. Xxxxxxx Xxxx
