CEDAR BAY
REALTY ADVISORS, INC.
September 20, 2001
VIA FACSIMILE
(000) 000-0000
Xxxxxx Xxxxxxxxx, Esq.
Xxxxx Xxxxxxx Xxxxxxx & Xxxxx LLP
000 Xxxx Xxxxxx
Xxx Xxxx, X.X. 00000-0000
Re: Agreement of Sale dated as of May 16, 2001 between Washington
Centre Shops, L.P., Port Richmond Associates, LLC, Academy
Stores, L.P. and Greentree Road Land, Inc., as Seller
and Cedar Income Fund Partnership, L.P., as Purchaser (the "Contract")
Dear Xxx:
As you are aware, the tragic events of last week caused major disruptions in the
ability to conduct business, including interruption of telephone, fax, overnight
delivery and e-mail services. Additionally, there has been dislocation and
unavailability of necessary parties and resources.
Specifically, counsel to the first mortgagee for Academy Plaza, Xxxxx Xxxxxxx of
Xxxxxxx Xxxxxxx & Xxxx, whose office was located in the World Trade Center, has
been unreachable and her client has not proceeded in her absence. Also, our
outside counsel Stroock & Stroock have not been permitted access to their
offices due to their proximity to the World Trade Center area.
In addition, to date, the first mortgagee for Washington Center has not agreed
to provide the estoppel required pursuant to section 1.2(e) of the Contract.
Accordingly, we hereby request an extension of the Closing Date until Wednesday,
October 3, 2001 (with pre-closing at your office on Tuesday, October 2, 2001).
As always, your cooperation is appreciated.
Very truly yours,
/s/ Xxxxxx X. Xxxxxxxx
------------------------
Xxxxxx X. Xxxxxxxx
General Counsel
SHW:jzp
cc: Xxx X. Xxxxxx
Xxxxxx X. Xxxxxx
00 Xxxxx Xxxxxx Xxxxxx, Xxxx Xxxxxxxxxx, X.X. 00000
Tel: (000) 000-0000 o (000) 000-0000
