Carl W. and Barbara H. Patterson - Page 6

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          1990, Mr. Suiter, through his attorney William Boyd (Mr. Boyd),             
          expressed some reluctance about agreeing to another extension of            
          the closing date.  Mr. Boyd stated in his letter:                           
                    Carl, Darby would prefer to terminate the                         
               Contract.  He is concerned that you will not be                        
               able to raise the down payment and thus lose the                       
               $25,000.00 extension payment.  You have insisted                       
               that you can close by December 19th.  Darby has                        
               reluctantly agreed to this extension but will not                      
               be inclined to grant further extensions.  Please                       
               consider all of this carefully before spending                         
               your $25,000.                                                          
          In the same letter, Mr. Boyd indicated that Skylane Apartments              
          were averaging 82-85 percent occupancy.  However, Mr. Boyd                  
               You are required not to rely on this information but                   
               to conduct your own independent analysis of these                      
               Petitioner signed the Second Addendum and paid the $25,000             
          extension fee by money order dated November 26, 1990.  According            
          to the Second Addendum, the sale price of Skylane Apartments                
          remained at $10,200,000.  However, a cash downpayment in the                
          amount of $2,550,000 was required, and the remaining portion of             
          the purchase price was to be financed by Mr. Suiter.  Pursuant to           
          the Second Addendum, the sale of Skylane Apartments was required            
          to close by December 19, 1990.  In the event of default by                  
          petitioner, the seller's only remedy would be termination of the            
          contract or specific performance.  In addition, the Second                  
          Addendum stated:                                                            
               Buyer has had ample opportunity to inspect the books                   
               and records of Seller and the premises and have                        

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