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Page 2 <br />7/12/93 <br />Executive Session /CONFIDENTIAL <br />3) If the Authority could find a bank willing to assume the legal <br />and transfer costs, the developer would be freed of this obligation. <br />The Authority will make reasonable efforts in finding such assis ance. <br />4) In lieu of cash payment from the developer towards the second <br />property, the Authority would be willing to accept an equal valu <br />offset against the second house at 505 Summer Avenue in the Town <br />of Reading. <br />As a option, to be given only at the time of critical failure, the <br />Executive Director was allowed to negotiate to assume one property <br />"as is ", with the exception that a deleading certificate for both <br />the interior /exterior be obtained. <br />The Chairman then declared said motion carried and said vote in effect. <br />There being no further business in Executive Session, the Board unanimously <br />voted to return to regular session at 11:25 P.M. <br />Respectfully submitted <br />Marga K. Plansky, Secret <br />and xecutive Director <br />