December 2, 1996
VIA FAX
Steeplechase Partners Limited Partnership
c/o The Balcor Company
0000 Xxxxxxxx Xxxx
Xxxxx X-000
Xxxxxxxxxxx, Xxxxxxxx 00000
Attention: Xxxxx Xxxxx
RE: STEEPLECHASE APARTMENTS
LEXINGTON, KENTUCKY
Ladies and Gentlemen:
Reference is hereby made to that Agreement of Sale (the "Contract"), dated
November 20, 1996, between Steeplechase Partners Limited Partnership, as
Seller, and Infinity Acquisitions, L.L.C., as Purchaser, for the purchase and
sale of the above property.
Pursuant to Paragraph 7.1 of the Agreement, please be advised that the results
of the inspection were unacceptable to us, and consequently we are hereby
terminating the Agreement. A copy of our notice to the escrowee is attached.
Very truly yours,
INFINITY ACQUISITIONS, L. L. C.
BY: /s/ Xxxxxxx X. Xxxxxxx
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Xxxxxxx X. Xxxxxxx, Manager
CC: The Balcor Company, attn: Xx. Xxxxx Xxxxxxxxx; Charter Title Company,
attn: Xxx Xxxxxxx, Lawyers Title Insurance Corporation, attn: Xxxxxxxx X.
Xxxxxxxx; Xxxxxxx Xxxxxxxxx; Xxxx Xxxxxxx; Katten, Muchin & Zavis, attn: Xxxxxx
X. Xxxxxxx, Esq. and Xxxxxx Xxxxxxxx, Esq. (all via fax).
Schedule 1
AFFIDAVIT OF DUE DILIGENCE TERMINATION NOTICE
State of Illinois )
) SS.
County of Xxxx )
The undersigned, having been first duly sworn, does hereby affirm, depose
and state that Infinity Acquisitions, L.L.C., as Purchaser under that certain
Agreement of Sale dated November 20, 1996, providing for the sale of property
located in Lexington, Kentucky, and known as Steeplechase Apartments has
terminated the Agreement of Sale pursuant to Paragraph 7.1 thereof.
The undersigned demands return of all xxxxxxx money deposited under the
Agreement of Sale pursuant to its right therein.
IN WITNESS WHEREOF, the undersigned has executed this Affidavit on this
2nd day of December, 1996.
PURCHASER:
INFINITY ACQUISITIONS, L.L.C., an Illinois
limited liability company
By: /s/ Xxxxxxx X. Xxxxxxx
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Name: Xxxxxxx X. Xxxxxxx
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Its: Manager
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Subscribed and sworn to before me,
a Notary Public in and for said
County and State, this 2nd day
of December, 1996
/s/ Xxxxxx X. Xxxxxx
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Notary Public
