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RISHWA IN , HAKEEM , ET AL, j :L. N0 . 209 4?4 3659 29 ,89 9 :56 P . 03 <br /> Y, <br /> Mr. Hal Miller <br /> , <br /> The Southland Corporation i <br /> August 29, 1989 <br /> Page 2 <br /> 1. As you know, Paragraph 6 of the October 22 <br /> Agreement states that Southland shall reimburse the property <br /> owner for the diminished value of the property. This letter <br /> shall serve as formal request by 'Tang Fat for such i <br /> reimbursement. We suggest a procedure by which a MAI appraiser <br /> of mutual choice is engaged to review the subject property, <br /> establishing a fair market value of the property, both before <br /> and after contamination. Subject -to mutual agreement, the <br /> differential in value shall be deeined the diminished value, <br /> which shall be reimbursed to the owner. <br /> 2 . In addition, as it is our client's intention to <br /> market this property in the near future, they request under the <br /> terms of Paragraph 11 of the October 22 Agreement to pass- <br /> through any indemnity to a successor purchaser. As you may <br /> recall, this indemnity survives thi termination of the <br /> Agreement, and inures to successors-in-interest. <br /> 3. We also request thelextension of the October 22 <br /> Agreement, since the cleanup procedures have taken longer than <br /> the parties originally anticipated: The extension period <br /> should at least cover the finalization of response measures for <br /> the cleanup, and until the transactions herein specified are <br /> completed. { <br /> 4. Furthermore, we would suggest certain interim <br /> procedures be established for the iccess you request in the <br /> August 2 letter. The work you request can be commenced <br /> immediately upon agreement with ali terms specified in this <br /> letter, so long as proper compensation is provided to the owner <br /> and any tenant experiencing loss of business as a result of <br /> these activities. These cost recoupments would also include <br /> additional rent for the expanded c{cmpound you contemplate in <br /> the letter, lose of business and inconvenience costs, all ! <br /> pursuant to Paragraphs 6 and 7 (d) of the October 22 Agreement. <br /> In addition, as stated in your letter, Southland would agree to <br /> repave the parking area to the owner's satisfaction, so that <br /> the wells are flush with the pavement. <br /> 5. You will provide the owner with a decision on <br /> what Southland intends to do with the underground tanks and <br /> pump islands currently lying dormant. If Southland intends to <br /> abandon its fuel facilities, the tanks must be removed and the <br /> pumping islands dismantled. <br /> 6. We would like to see an overall cleanup and <br /> remedial schedule, so that it is clear when cleanup work will <br /> be concluded on the property. In this regard, we understand <br />