Free Memorandum in Support of Motion - District Court of Connecticut - Connecticut

Case 3:03-cv—00459-PCD Document 42-5 Filed 10/29/2004 Page 1 of 1
VIA FEDERAL EXPRESS E J lg ,
August 7, 2002
Mr- Don DeCesare
President
Crossroads Communications of Old Saybrook, LLC
157 North Seir Hill Road
Norwalk, CT 06850
_ Dear Don:
I Pursuant to Section 8 of that Agreement Re: Loan Repayment, Mortgage
Discharge and Tower Site Lease (the "Agreement") dated September 20, 2001 by and
between Crossroads Communications of Old Saybrook, LLC and Tower Ventures, [nc.
(herein "TV1") (capitalized terms not otherwise defined herein shall have the respective
meanings ascribed to such terms in the Agreement), TVI hereby terminates the
Agreement due to the fact that notwithstanding TVI’s diligent best efforts to obtain the
same, TVI has not been able to obtain all of the Approvals, and thus the Conditions
Precedent have not been satisfied.
t Don, TVI has expended considerable sums on attempting to get the Old Saybrook
, site permitted. lt appears that we will be denied locally and would have to go to the CT.
` Siting Council to obtain the necessary approvals and permits for the site, which would
involve considerable additional expense. ln addition, as you are probably aware, the
economic environment has changed dramatically and the wireless carriers are not
building out new sites as they have in the past. 1 would be happy to discuss a revision in
the terms of the transaction, taking into account TVl’s added expense with regard to the
permitting and development of the site and the current economic climate- I will call you
to discuss.
Sincerely,
DEFENDANTS
COO EXHIBIT
JV ° , . .gL
- Cc; John Wolfe
Joseph V. Gallahger
Keenan Brinn
Tvi 0050
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