XXXXXXX PARTNERS, L.P.
c/o Insignia Financial Group, Inc.
One Insignia Financial Xxxxx
X.X. Xxx 0000
Xxxxxxxxxx, X.X. 00000
June 3, 1997
VIA FACSIMILE
Labroc II Limited Partnership
and
Labroc III Limited Partnership
x/x Xxx Xxxxxx Xxxxxxx
Xxxxxxxxxxx Xxxx Xxxxxx Xxxxx
0000 Xxxxxxxx Xxxx, Xxxxx X 000
Xxxxxxxxxxx, Xxxxxxx 00000
Re: Acquisition of Xxxxxxx IV and Xxxxxxx V, Xxxxxxx Farms, Michigan
Gentlemen:
Reference is hereby made to the following: (i) that certain Agreement of
Sale dated May 2, 1997, made by and between Xxxxxxx Partners, L.P. ("Buyer")
and Labroc II Limited Partneship and (ii) that certain Agreement of Sale dated
May 2, 1997, made by and between Buyer and Labroc III Limited Partnership with
respect to acquisition of the above referenced premises (collectively, the
"Purchase Agreement") Capitalized terms not otherwise defined shall such
meaning as set forth in the Purchase Agreement.
Please be advised that Buyer has retained our firm as special counsel in
this matter. Accordingly, we hereby request, on behalf of Buyer, that the
Inspection Period by extended to the end of business June 18, 1997.
If the foregoing is acceptable, please execute and return one copy of this
letter. This letter may be executed in counterparts, each of which when so
executed and delivered shall constitute but one and the same instrument.
XXXXXXX PARTNERS, L.P.
By: ICIG Xxxxxxx, LLC, its general partner
By: Insignia Commercial Investments
Group, Inc., its manager
By: /s/ Xxxxxxx Xxxxxxxx
--------------------------------
Name: Xxxxxxx Xxxxxxxx
--------------------------------
Title: Vice President
--------------------------------
ACCEPTED AND AGREED TO:
LABROC II LIMITED PARTNERSHIP
By: Balcor Equity Partners-II, its general partner
By: The Balcor Company, its general partner
By: /s/ Xxxx X. Xxxxxx
----------------------------------
Name: Xxxx X. Xxxxxx
----------------------------------
Title: Authorized Agent
----------------------------------
LABROC III LIMITED PARTNERSHIP
By: Balcor Equity Partners-III, its general partner
By: The Balcor Company, its general partner
By: /s/ Xxxx X. Xxxxxx
----------------------------------
Name: Xxxx X. Xxxxxx
----------------------------------
Title: Authorized Agent
----------------------------------
cc: Xxxxxx X. Xxxx, Esq.
Xxxx Xxxxxxx, Esq.
