[AGENT]
60 East 42nd Street
New York, New York 10165
Telephone (212) 687-8700
Telecopier (212) 986-7679
November [], 1999
REGISTERED MAIL
[NAME & ADDRESS]
Re: Navarre-500 Building Associates
Dear [NAME]:
The time has expired for the receipt of your consent to
items 1 and 2 of the Sale Program described in the July 15, 1999
letter of Peter L. Malkin and the accompanying Statement by the
Agents in the Solicitation of Consent and Agreement of the
Participants. Therefore, in accordance with such letter and
Statement, and pursuant to the provisions of paragraph 4 of the
Participating Agreement dated July 2, 1958, under which I act as
Agent for the joint venture created thereby, I am purchasing
your interest in the joint venture as agent for the benefit of
the consenting Participants for the sum of [AMOUNT].
Accordingly, I deliver herewith the following:
1. Certified check dated October 29, 1999 to your order in
the sum of [AMOUNT]; and
2. Duplicate original of the assignment of your interest to
the undersigned, dated November [], 1999.
Very truly yours,
_____________________________
[AGENT], as agent for the
benefit of the consenting
Participants in the aforesaid
joint venture
ASSIGNMENT
IN CONSIDERATION of the sum of [AMOUNT] AND
[AMOUNT]/100 ($AMOUNT) DOLLARS, paid to [NAME], Assignor, with
an address at [ADDRESS], by [AGENT], Assignee, having an office
at 60 East 42nd Street, New York, New York 10165, Assignor
hereby assigns, transfers, grants and releases unto Assignee,
pursuant to the terms of a certain joint venture agreement,
dated July 2, 1958, among [AGENT], as Agent (formerly [FORMER
AGENT]) and others as Participants, all right, title and
interest of Assignor as a Participant under said Agreement in
and to the joint venture created thereby, in the interest of the
joint venture in and to the master lease of premises known as
500 Seventh Avenue, 512 Seventh Avenue, and 228 West 38th
Street, New York, New York, and in the interest of the joint
venture in NAVARRE-500 BUILDING ASSOCIATES, a co-partnership,
having its office at 60 East 42nd Street, New York, New York.
Assignee hereby accepts this assignment and transfer as
agent for the benefit of the consenting Participants in the
aforesaid joint venture.
Dated: November [], 1999
Witness for Assignor: [NAME],
Assignor
___________________ By:
__________________________
[AGENT]
Attorney-in-fact
Witness for Assignee:
___________________ By:
__________________________
[AGENT], as agent for the
benefit of the consenting
Participants in the
aforesaid joint
venture, Assignee
