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DORSEY & WHITNEY LLP <br />Michael Mornson <br />September 29, 1997 <br />Page 2 <br />Typically, the survey and the title correction process would be the Seller's <br />obligation to obtain and complete and also pay the cost thereof. Indeed, our contract <br />would allow us to notify Mr. Steiner that he is required to do this. However, given Mr. <br />Steiner's level of sophistication and previous reluctance to incur additional cost, I doubt if <br />he will recognize the nature and extent of this objection or accept responsibility for curing <br />it. In addition, the contract states that if he fails to cure within 60 days the City can either <br />waive the objection and close or terminate the Agreement and receive the earnest money <br />back. I assume Mr. Steiner will either be unwilling or unable to solve this problem within <br />60 days and that the City will be faced with the decision of whether it wants to purchase <br />the Property subject to this problem and either resolve the problem itself or attempt to <br />pass the problem onto a subsequent buyer (presumably in exchange for a reduction in the <br />purchase price). The City could choose not to buy the Property but this may detrimentally <br />impact its overall plan for redevelopment of the area. <br />There are other title matters which we have notified Mr. Steiner about (see <br />the enclosed letter). We have had no response from him as yet and therefore don't know <br />if he can or will cure these problems. <br />Please let me know how you would like to proceed. <br />Very b <br />James <br />KLB:sq <br />Enclosure <br />cc: William Soth <br />, <br />