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STINSON , MAG & FIZZELL <br /> 2100 CHARTERBANK CENTER <br /> 7500 WEST IIOT_H STREET P.O. BOX 19251 <br /> 3745 INTER FIRST TWO <br /> OVERLAND PARK,KANSAS 66210-2329 DALLAS,TEXAS 7 5 2 70-2171 <br /> (913)642-2900 KANSAS CITY, MISSOURI 64141-2251 (214) 741_752 <br /> 2200 <br /> (816) 842-8600 <br /> CABLE:"MAGTIM" <br /> TELECOPIER:(616)474-6882 <br /> TELEX:42-4123 <br /> December 18 , 1984 <br /> Mr. J. Shepherd Russell , III <br /> Friday, Eldredge & Clark <br /> 2000 First Commercial Building <br /> Little Rock, Arkansas 72201 <br /> Re : City of Batesville, Arkansas <br /> Industrial Development Revenue <br /> Bonds - Westport Casuals Project, <br /> Series A and B <br /> Dear Mr. Russell: <br /> In accordance with the requests contained in your <br /> letter of December 6 to James K. Shineman and me, I am enclosing <br /> a revised form of Warranty Deed which includes the additional <br /> language set forth in your letter, and a copy of the title <br /> insurance commitment which has been issued respecting the <br /> property. I understand that you will draft a form of release <br /> deed and forward it to me. It is my understanding that, sub- <br /> ject to approval of the form of the release deed, the trustee <br /> will_ provide a letter stating that immediately after delivering <br /> the Warranty Deed the trustee will execute and deliver to the <br /> City the release deed. It is the understanding of my client <br /> and of the trustee that no obligations will be outstanding to <br /> the City following payment of the amounts referred to in Mr. <br /> Shineman ' s letter to you dated November 28 , 1984. Specifically, <br /> it is our understanding that the lessee was not obligated to <br /> make any payments in lieu of taxes. In the event that you <br /> believe this is not true, please contact me. <br /> In your letter you also inquire whether the title company <br /> will require a resolution by the City Council authorizing the <br /> execution and delivery of the Warranty Deed. Issuance of a <br /> policy of title insurance is not a condition to the contract <br /> of sale, and as far as I know no policy will be issued. We <br />