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Exhibit (b)(13)
Salomon Brothers
Realty Corp.
000 Xxxxxxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
000-000-0000
September 27, 0000
Xxxxx Xxxxxx Tech LLC
c/o First Union Real Estate Investments
000 Xxxxx Xxxxxx, Xxxxx 0000
Xxx Xxxx, Xxx Xxxx 00000-0000
Re: Loan Agreement, dated as of July 27, 1999 (the "Loan
Agreement"), by and among North Valley Tech, as borrower,
Salomon Brothers Realty Corp., as agent and initial lender
("Agent") and LaSalle Bank National Association, as collateral
agent ("Collateral Agent")
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Gentlemen:
Reference is made to the Loan Agreement. Capitalized terms used but not
defined herein shall have the meanings set forth in the Loan Agreement.
Borrower has notified Agent that Borrower desires to Transfer the
Mortgaged Property subject to the Loan Agreement, the Mortgage and the other
Loan Documents pursuant to Section 2.7(a) of the Loan Agreement. Agent hereby
approves such Transfer to a Single Purpose Entity, all of the ownership
interests in which are held directly or indirectly by Radiant Ventures I L.L.C.,
subject to (1) the delivery of organizational documents acceptable to Agent with
respect to such entity and (2) the delivery by Borrower of an assumption of the
Note, the Loan Agreement and the Loan Documents and the payment to Agent of an
assumption fee of one percent (1%) of the outstanding Principal Indebtedness and
all of Agent's reasonable expenses incurred in connection with such Transfer.
Very truly yours,
SALOMON BROTHERS REALTY CORP,
a New York corporation
By: /s/ A. Xxxxxx Xxxxxx
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Name: A. Xxxxxx Xxxxxx
Title: Authorized Agent
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