EXHIBIT 2.4
THIRD AMENDMENT TO
AGREEMENT OF PURCHASE AND SALE
Telegraph Hill Apartments
Albuquerque, New Mexico
This THIRD AMENDMENT TO AGREEMENT OF PURCHASE AND SALE ("Third Amendment")
is made as of the 30th day of September, 1996 by and between First Capital
Insured Real Estate Limited Partnership, an Illinois limited partnership
("Seller") and Security Capital Pacific Trust, a Maryland real estate investment
trust ("Purchaser").
WHEREAS, the parties hereto have entered into an Agreement of Purchase
and Sale, dated August 2, 1996 ("Purchase Agreement"), whereby Seller agreed to
sell and Purchaser agreed to purchase certain real property located in
Albuquerque, New Mexico, as described in the Purchase Agreement (the
"Property"); and
WHEREAS, the parties desire to modify the Purchase Price;
NOW, THEREFORE, in consideration of the premises, and other good and
valuable consideration, the receipt and sufficiency of which the parties hereby
acknowledge, the parties agree as follows:
1. Purchase Price. The Purchase Price set forth in Section 1.1(d) of the
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Purchase Agreement ($8,150,000.) is deleted and replaced with $8,100,000.
2. Counterparts/Delivery. This instrument may be executed in any number
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of counterparts and by the different parties on separate counterparts, and each
such counterpart shall be deemed to be an original but all such counterparts
shall together constitute one and the same agreement. The parties hereto may
exercise and deliver this instrument by forwarding facsimile, telefax, or other
means of copies of this instrument showing execution by the parties ending the
same, and the parties agree and intend that such signature shall have the same
effect as an original signature, that the parties shall be bound by such means
of execution and delivery, and that the parties hereby waive any defense to
validity based on any such copies or signatures.
3. Continued Validity. Except as amended hereby, each of the Purchase
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Agreement and the Escrow Agreement shall remain in full force and effect.
4. Captions. Headings of paragraphs are for convenience or reference only
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and shall not be construed as part of this Amendment.
IN WITNESS WHEREOF, the parties have caused this Third Amendment to be
executed as of the date set forth above.
SELLER: FIRST CAPITAL INSURED REAL ESTATE
LIMITED PARTNERSHIP, an Illinois
limited partnership
By: First Capital Financial
Corporation, a Florida
corporation, its General
Partner
By: /s/ Xxxxxxx X. Xxxx
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Name: Xxxxxxx X. Xxxx
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Title: Assistant Vice President
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PURCHASER: SECURITY CAPITAL PACIFIC TRUST
By: /s/ Xxxxxx X. Xxxxxx
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Name: Xxxxxx X. Xxxxxx
Title: Vice President
