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Mar O~ 2003 i:4~PM Rttorne~ R~ Las 903?8590?3 p.2 <br /> <br /> Larry Schenk, Esq. <br /> March 6, 2003 <br /> Page 2 <br /> <br /> During this period of time since the execution of the 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 project. <br /> <br /> If the 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 tennination, but would <br /> rather use the additional ninety day extensions of the Inspection Period to see if he 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 ail parties to sign. <br /> <br /> Very Truly Yours, <br /> <br /> Philip B. Smith, Jr. <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. Panl Trull, Superintendent <br /> <br /> cc: Via Facsimile (903)782-0370 <br /> Paris Junior College <br /> Attn: Mr. Bobby Walters, President <br /> <br /> <br />