It says the two parties reached the settlement agreement. Why would they settle and accept the terms if they can't pay it? To answer my own question, it sounds like they've made a lot of agreements they haven't kept. I suppose the key is this: "The settlement contains a provision that the property will be placed in receivership should First National’s owners fail to pay Capmark in a timely manner or follow through with the other terms of the agreement."
This is a crown jewel downtown and we can all agree something needs to happen. That building deserves so much more than the last few owners have provided.
The potential with the right owner, with deep pockets, is off the map.
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