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<br /> <br />~:..,, <br />1. On February 7, 1984, Great Western Cities, Inc. <br />("GWC'), Great Western United Corporation ("GWU"), and Colorado <br />City Development Company ('CCDC") Eiled petitions Eor relief <br />under chapter 7 of the United States Bankruptcy Code in the <br />United States Bankruptcy Court for the Northern District of <br />Texas, Dallas Division. Thereafter, on February 10, 1984 Molly <br />Bartholow was appointed Trustee for each of said debtor <br />entities. <br />2. Prior to the filing of their voluntary petitions, <br />debtors were defendants in a class action in the Circuit Court <br />for Cook County, Illinois, Chancery Division as Case <br />No. 78-CH-8291, brought by the State of Illinois, ex rel. <br />Tyrone C. Fahner, Attorney General. In compromise of said <br />litigation, debtors entered into a certain Final Judgment and <br />Consent Decree dated April 26, 1982. By the terms of this <br />Final Judgment and Consent Decree, debtors agreed to incur <br />certain obligations relating to property it owned in Colorado <br />City, Colorado, inter alia, the assignment of certain land <br />contract receivables to the Metropolitan District and the <br />assumption of a 'lot swap" program, the purpose of which was to <br />trade the lots of certain land owners and land contract vendees <br />whose lots were located in peripheral areas for lots located <br />within an 'expanded core area". <br />JOINT MOTION TO AUTHORIZE SALE OF REAL PROPERTY <br />OF THE ESTATE FREE AND CLEAR OF ALL LIENS, CLAIMS <br />r.C:u t.::CUi•?S:;ANCF:S A[JD Se.TTLENiENT AGRzEliENT - Page 2 <br />