[Letterhead of Davis Malm & DAgostine P.C.]
Exhibit 10(pp)
[Letterhead of Davis Malm & D’Agostine P.C.]
Amy L. Fracassini
January 27, 2006
BY EMAIL (via pdf file to ***@*** and ***@***) AND U.S. MAIL
Fund IV and Fund V Associates
Fund VI, Fund VII and Fund VIII Associates
c/o Wells Real Estate Funds
6200 The Corners Parkway
Suite 250
Norcross, Georgia 30092
Attention: Mr. F. Parker Hudson
Ms. Leslie Fuller Secrest
Troutman Sanders LLP
Suite 5200
600 Peachtree Street, N.E.
Atlanta, Georgia, 30308-2216
| Re: | Termination Notice Regarding Purchase and Sale Agreement dated as of January 23, 2006 between and among Fund IV and Fund V Associates, and Fund VI, Fund VII and Fund VIII Associates, as Sellers thereunder, and Transatlantic Investment Management, Inc., as Purchaser thereunder (the “Agreement”) relative to the property known as 10375 and 10407 Centurion Parkway North, Jacksonville, Florida (the “Property”). |
Ladies & Gentlemen:
Reference is made to the Agreement referenced above. All terms not otherwise defined herein, shall have the meanings ascribed to them in the Agreement.
Pursuant to and in compliance with Section 3.6 of the Agreement, the undersigned, as counsel to the Purchaser, hereby gives notice on the Purchaser’s behalf, that Purchaser is hereby terminating the Agreement. In compliance with the provisions of Section 3.7 of the Agreement, Purchaser and Purchaser’s counsel will forward all of the Due Diligence Materials furnished by Seller to Purchaser and Purchaser’s Counsel under separate cover.
Mr Parker Hudson
Ms. Leslie Secrest
January 27, 2006
Page 2
Since the Deposit was not sent by the Purchaser to the Escrow Agent, we do not have to arrange for the return of the Deposit to the Purchaser.
Sincerely,
| /s/ Amy L. Fracassini |
| Amy L. Fracassini |
| cc: | Mr. Anthony Goschalk (by email via PDF file) | |
| Paul L. Feldman, Esq. (by email via PDF file) |
