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t~s7-38P7-J 9/8/80 <br />$v--° E} 0 ~ 9~'7 <br />meet of Cassidy for the down payment made by Cassidy pursuant <br />to the terms and conditions of the Purchase Contract. <br />4.2 The Partnership shall sell the Purchase <br />Contract to Grand in accordance with the terms of Grand's <br />Agreement of Limited Partnership. The purchase price pay- <br />able to the Partnership for the Purchase Contract shall be <br />the sum of $1,000,000 payable by the execution and delivery <br />by Grand to the Partnership of a note and mortgage (collec- <br />tively the "Grand Mortgage") on the Property in the amount <br />of $1,000,000. The Grand Mortgage shall provide for the pre- <br />payment of interest in the amount of 553,333 in cash upon <br />execution and delivery of the Grand Mortgage. In connection <br />thereKith, Grand shall also reimburse the Partnership for the <br />$4D ,000 down payment under the Purchase Contract made by <br />Cassidy and reimbursed to Cassidy by the Partnership pursuant <br />to Section 4.1 above. In addition, Grand shall reimburse the <br />Partnership For up to $130,000 spent by the Partnership or <br />the partners on account of leasing and construction costs <br />prior to Grand's acquisition o€ the Froperty. <br />4.3 All instzuments and documents regsired <br />to effectuate the foregoing transactions shall be in form <br />and substance satisfactory to all of the parties hereto. <br />5. Contributions to the Partnership; Partnership <br />Interests <br />S.t Simultaneously with the sale of the Pur- <br />chase Contract by the Fartnership to Gran3, the parties shall <br />!sake capital contributions to the Partnership as follows: <br />MGZ - St00; <br />Cassidy - 5100. <br />3 <br /> <br />