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their respective interests in that joint venture and who was the
person with whom Mr. Canty, acting on behalf of OIP, dealt.
Mr. Hefferan, who is an attorney, has known Mr. Canty for
approximately 40 years and has had numerous contacts with him
during that time, including doing legal work for various compa-
nies or partnerships in which Mr. Canty had some direct or
indirect interests and, to a lesser extent, for Mr. Canty person-
ally. Since 1982, Mr. Hefferan has represented Mr. Canty and
certain entities in which he had interests, including certain of
the petitioners herein, with respect to at least 19 separate
matters. On August 23, 1990, while the escrow agreement was in
effect, OIP made a contribution to Mr. Hefferan's election
campaign account.
In signing the escrow agreement as Interstate's trustee, Mr.
Hefferan understood that he was acting as the trustee for Inter-
state of funds that it was depositing into the Bank under the
escrow agreement and that were to be used to pay for the purchase
of property designated by OIP. Mr. Hefferan further understood
that his primary duty to Interstate under the escrow agreement
was to sign contracts to buy property which were brought to him
by either Interstate or OIP, but which in fact were usually
presented to him by Mr. Canty as OIP's agent. The escrow agree-
ment was silent as to the standard to be used by Mr. Hefferan in
approving contracts to buy property that were presented to him.
However, Mr. Hefferan understood from reading that agreement that
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