According to Mr. Colacino, since the beginning of October or before, he began to
consider it to be a foregone conclusion that the Board would not give its unconditional approval
to the sale of the Apartment on or before October 15, 2009. Mr. Colacino further states that, as a
result of this, he began to make arrangements for an uptown rental apartment and instructed his
attorney, Giddins, to exercise the termination option under Paragraph 6.3 of the Contract as soon
as possible.
On October 13, 2009, Spiegel and two other members of the Board interviewed the
Colacinos and determined that the Colacinos should be approved to purchase the Apartment "but
that such approval be conditioned upon the sale of the Beach Street [Residence] prior to
[C]losing." Spiegel Aff. ¶12. It appears that before or around the time of the interview,
Speigel had been told that the closing on the Beach Street Residence had been postponed until
October 16, 2009. Spiegel states that she communicated her approval recommendation to the
other members of the Board on October 14, 2009, and she also recommended that, as an
accommodation to the Colacinos, because the closing on the Beach Street Residence was
scheduled for October 16, 2009, that the Colacinos and Sellers be advised of this approval prior
to a formal vote on the matter at the regularly scheduled Board meeting on October 22, 2009. Id.
at 13. According to Speigel, a majority of the Board agreed and, on October 15, 2009, Spiegel
communicated this by telephone to Sledge.
According to Solomon's affidavit, Muss was informed by Sledge, prior to 5:00 p.m.
on October 15, 2009, that "Mr. Colacino's Board application had been approved, in
accommodation of his expressed scheduling concerns, even before he actually submitted final