Notice of Termination of Purchase and Sale Agreement between City Ventures, LLC and Conexant Systems, Inc.

Summary

City Ventures, LLC notifies Conexant Systems, Inc. and First American Title Insurance Company that certain due diligence conditions under their Purchase and Sale Agreement have not been met. As a result, the agreement is terminated according to its terms, and City Ventures requests the immediate return of its deposit. The notice is sent in accordance with the procedures outlined in the agreement and its amendments.

EX-10.6.5 13 a56035exv10w6w5.htm EX-10.6.5 exv10w6w5

Exhibit 10.6.5

[City Ventures Logo]

March 24, 2020

VIA EMAIL AND OVERNITE EXPRESS


Conexant Systems, Inc.		First American Title Insurance Company
4000 MacArthur Boulevard		5 First American Way
Newport Beach, CA 92660		Santa Ana, CA 92701
Attn: Mark Peterson, Esq.		Attn; Patty Beverly

Dear Mr. Peterson and Ms. Beverly:

This letter shall constitute notice pursuant to Section 2 of the Fourth Amendment to Purchase and Sale Agreement and Joint Escrow Instructions dated March 12, 2010 (the “Fourth Amendment”) between Conexant Systems, Inc. and City Ventures, LLC, that the Remaining Due Diligence Contingencies (as defined in the Second Amendment to Purchase and Sale Agreement and Joint Escrow Instructions dated February 19, 2010) have failed and the Agreement (as defined in the Fourth Amendment) is deemed terminated in accordance with Paragraph 1 of the Fourth Amendment. Please immediately return the Deposit (as defined in the Agreement) to City Ventures, LLC.


Very truly yours, CITY VENTURES, LLC
By:	/s/ R. Mark Buckland
	R. Mark Buckland
	President

MB/KMK/cm

cc:

Manatt Phelps LLP — Attn: Steven L. Edwards, Esq. (via email)
Manatt Phelps LLP — Attn: Adam R. Sails, Esq. (via email)
Mr. Craig Atkins (via email)
Mr. Tony Pauker (via email)
Mr. Scott Homan (via email)
Ms. April Palmer-Moore (via email)
Kenneth M. Kaplan, Esq. (via email)