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Signom in order to have Ms. Signom sign it prior to that antici-
pated closing. Mr. Deas expected Mr. Signom to have that docu-
ment signed by Ms. Signom and to bring it with him to the July 31
anticipated closing. On July 26, 1991, both Mr. Signom and Ms.
Signom signed the July 22 document.
On August 1, 1991, the parties to the draft property ex-
change agreement finalized the terms of that agreement when Mr.
Signom, Mr. Felman, and Mr. Deas as the University’s representa-
tive signed a document (final property exchange agreement) that
set forth the final terms of the various transactions that they
agreed would take place under that agreement (final exchange
transaction). The closing of the final exchange transaction, as
well as the closing of the purchase of the Ludlow property, took
place on August 1, 1991 (August 1 closing), instead of on July
31, 1991, as originally contemplated. Mr. Signom and Mr. Felman
attended the August 1 closing, as did Mr. Deas as the Univer-
sity’s representative. The July 22 document, as signed by
Brother Ploeger on behalf of the University on July 22, 1991, and
by petitioners as the general partners of MHR Properties on July
26, 1991, was delivered at the August 1 closing. Brother Ploeger
executed the final property exchange agreement on behalf of the
University a few days after the August 1 closing.
As pertinent here, the terms of the final property exchange
agreement were identical to the terms of the draft property
exchange agreement. The final property exchange agreement
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