EX-2
from 8-K
1 page
Notice of Disapproval May 22, 1996 via Facsimile and Certified Mail Irving Associates the Balcor Company Daniel J. Perlman, Esq. C/O the Balcor Company 2355 Waukegan Road Katten Muchin & Zavis 2355 Waukegan Road Suite A200 Suite 2100 Suite A200 Bannockburn, Illinois Chicago, Illinois Bannockburn, Illinois 60015 60661 60015 Attn.: Al Lieberman Attn.: Ilona Adams Re: Agreement of Sale, Dated as of the 23rd Day of April, 1996 (The "Agreement") Between Irving Associates, as Seller, and Erp Operating Limited Partnership, as Purchaser, for the Purchase of Eagle Crest II Apartments, Irving, Texas (The "Property"). Dear Ms. Adams and Messrs. Lieberman and Perlman: Pursuant to Section 17(c) of the Agreement, We Hereby Give You Notice That We Disapprove the Documents and the Condition of the Property and as the Property Is Unsuitable for Our Purposes, We Are Hereby Terminating the Agreement and All Rights and Obligations of the Seller and Purchaser Thereunder. by Execution of This Notice of Disapproval, We Are Hereby Authorizing and Directing Commonwealth Land Title Insurance Company, as Escrow Agent, to Disburse the Earnest Money, Plus All Accrued Interest, to US. Accompanying Mr. Perlman's Notice of Disapproval Are Copies of the Reports Purchaser Received During the Approval Period and Relating to the Property, the Return of Which Are Required by Section 17(c) of the Agreement. to the Extent That We Have Not Yet Received a Copy of Any Report Ordered During the Approval Period, We Will Remit to Mr. Perlman a Copy of Such Report Promptly Following Our Receipt of It. Erp Operating Limited Partnership, an Illinois Limited Partnership By: Equity Residential Properties Trust, a Maryland Real Estate Investment Trust, Its General Partner By: /S/ Bruce C. Strohm Bruce C. Strohm Executive Vice President Enclosure
12/34/56
