Letter of Intent as to Sale and Purchase of Commercial Property

This Letter of Intent is intended as an expression of the mutual intent of the parties as to certain aspects of a proposed transaction. The parties, however, agree that there are material terms as to which agreement has not been reached. The parties also agree that this Letter is not intended to be and is not to be construed to be a definitive contract and is subject to execution and delivery of purchase and sale agreement satisfactory to their respective counsel.