In the first line, seller should have read purchaser as follows.
When the seller relies on a lawyer, paid for by the purchaser, what
chance is there that that lawyer would or could do anything of benefit
to the seller that might be a hindrance to the purchaser. What manner
of man or lawyer is capable of simultaneously serving two masters?
This stinking deal was never intended to give Asbury a fair or
equitable chance.
> --- In AsburyPark@yahoogroups.com, [EMAIL PROTECTED] wrote:
> > Your point is well taken. The City sold/gave Asbury Partners the
beach
> > front sites because they wanted something done with them to move the
> > City's revitalization forward as soon as possible. Asbury
Partners has
> > waited and will wait until the area is well under way and they can
flip
> > the properties or obtain financing easily. We didn't need Asbury
> > Partners for that - we could have done that ourselves. By waiting
they
> > destroyed the entire benefit of the contract which was, in spirit and
> > intent, "time of the essence." I think that the City Council would
> > have held on to the properties had they known that Asbury Partners
> > intended to just sit on everything. Of course our city attorney
could
> > have put real time limits and reverter clauses and/or penalties in
the
> > agreements.
> >
> > -----Original Message-----
> > From: Lighty <[EMAIL PROTECTED]>
> > To: AsburyPark@yahoogroups.com
> > Sent: Tue, 31 May 2005 23:32:59 -0400
> > Subject: [AsburyPark] Deju vu (all over again)
> >
> > "Asbury Park does not have sufficient debt capacity to bring even
> > Convention
> > Hall up to current standards, and we could do so only at the
expense of
> > our
> > already tax-burdened residents.
> >
> > While we believed that Convention Hall alone needed from $8 to $12
> > million
> > in repairs, a recent, more thorough inspection indicates that
structural
> > decay is considerably worse than anticipated. Without immediate
repairs,
> > that structure - along with the pavilions, the old heating plant, and
> > the
> > rapidly disintegrating Casino - will deteriorate well past the
point of
> > saving."
> > -- Kate Mellina, MARCH 28, 2002
> >
> >
> > What is written above is why many of us sound "negative" on this
board.
> > The
> > fact is that, for whatever reason, the Council put their faith in
Asbury
> > Partners to do the things that the City could not do. The City
needed
> > help
> > because it was broke. The problem is that here we are three summers
> > later
> > and how much money do you think has been put into restoring
Convention
> > Hall?
> > I would seriously doubt anything over $1 million.
> >
> > How much has been put into restoring the Casino? Or the Pavilions?
> >
> > If the plan is to wait until the residential occurs then the real
plan
> > is to
> > wait until these structures are beyond repair. Redevelopment plans
> > should
> > not be set in stone. If things need to be changed, changes should be
> > made.
> > That is why we're speaking up.
> >
> >
> >
> >
> > Yahoo! Groups Links
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