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<br />Mar 06 2003 1:47PM <br /> <br />:.orne~ At Law <br /> <br />~ ,7859073 <br /> <br />fJ.2 <br /> <br />Larry Schenk, Esq. <br />March 6, 2003 <br />Page 2 <br /> <br />During this period of time since the execution ofthe Contract, Mr. VanBuren has also been <br />able to consult with a potential contractor and an engineer. Mr. VanBuren has been able to obtain <br />a written report from the engineer, which includes environmental assessments, but he has not been <br />able to complete a contract with an architect or a general contractor to confirm all of the costs of <br />renovating the proj ecL <br /> <br />Ifthe governmental entities which now own the Grand Theater are not willing to grant these <br />extensions, Mr. VanBuren will have no alternative at this time but to terminate the Contract before <br />March 14,2003, as is presently provided therein, and receive a full refund of the Earnest Money <br />from Stone Title Company, Inc. Mr. VanBuren does not want to pursue termination, but would <br />rather use the additional ninety day extensions of the Inspection Period to see ifhe cannot proceed <br />forward with the intended purchase and renovation. <br /> <br />Please present these requests to the Paris City Council, so that a decision may be reached <br />before March 14, 2003. Also enclosed with this letter is a proposed Extension of Contract of <br />Purchaser for all parties to sign. <br /> <br />Very Tm1y Yours, <br /> <br />~@:~r- <br /> <br />Philip B. Smith, Jr. <br /> <br />cc: Via Facsimile (903)785-3858 <br />Judge Chuck Superville <br />Lamar County, Texas <br />Lamar County Courthouse <br />Paris, Texas 75460 <br /> <br />cc: Via Facsimile (903)737-7484 <br />Paris LS.D. <br />Attn: Mr. Paul Trull, Superintendent <br /> <br />cc: Via Facsimile (903)782-0370 <br />Paris Junior College <br />Attn: Mr. Bobby Walters, President <br />