SECOND AMENDMENT TO AGREEMENT OF SALE
THIS SECOND AMENDMENT TO AGREEMENT OF SALE (this "Amendment") is made and
entered into as of this 24th day of October, 1996, by and between GRD Limited
Partnership, an Illinois limited partnership ("Seller") and Housing Systems,
Incorporated, a Georgia corporation ("Purchaser").
RECITALS:
A. Seller and Purchaser are parties to that certain Agreement of Sale,
dated September 17, 1996, as amended by that certain First Amendment to
Agreement of Sale, dated September 23, 1996 ("Agreement"), pursuant to which
Purchaser has agreed to purchase and Seller has agreed to sell certain Property
(as defined in the Agreement) legally described and depicted on Exhibit A
attached to the Agreement.
B. Seller and Purchaser desire to amend the Agreement in accordance with
the terms of this Amendment.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants and agreements
hereinafter set forth and other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the parties hereby agree as
follows:
1. All terms not otherwise defined herein shall have the meanings ascribed to
each in the Agreement.
2. The Purchase Price as referenced in Paragraph 1 of the Agreement is hereby
changed from the price of Two Million Eight Hundred Fifty Thousand and No/100
Dollars ($2,850,000.00) to the price of Two Million Three Hundred Thousand and
No/100 Dollars ($2,300,000.00).
4. Except as amended hereby, the Agreement shall be and remain unchanged and
in full force and effect in accordance with its terms.
5. This Amendment may be executed in counterparts each of which shall be
deemed an original, but all of which, when taken together shall constitute one
and the same instrument.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the
date first set forth above.
PURCHASER:
HOUSING SYSTEMS, INCORPORATED, a Georgia corporation
By: /s/ Xxxxxxx X. Xxxxx
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Name: Xxxxxxx X. Xxxxx
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Its: Executive Vice President
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SELLER:
GRD LIMITED PARTNERSHIP, an Illinois limited
partnership
By: GRD Limited Partners, Inc., an Illinois
corporation, its general partner
By: /s/ Xxxxx X. Xxxxxxxxx
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Name: Xxxxx X. Xxxxxxxxx
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Its: Authorized Representative
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