SECOND AMENDMENT TO
REINSTATEMENT AGREEMENT
THIS AGREEMENT, is made as of December 8, 1998, by and between BENEVA
SHOPS ASSOCIATES, LTD., a Florida limited partnership ("Seller") and RRC
ACQUISITIONS TWO, INC., a Florida corporation ("Buyer").
W I T N E S S E T H:
Seller and Buyer and RRC ACQUISITIONS, INC. heretofore entered into a
Reinstatement Agreement dated as of October 28, 1998, as amended (the
"Agreement"), concerning the sale by Seller and acquisition by Buyer, as
Assignee of RRC ACQUISITIONS, INC., of certain real and personal property
described therein, located in Sarasota, Florida. Seller and Buyer desire to
amend the Agreement as provided herein.
NOW THEREFORE, in consideration of Ten Dollars ($10.00) and other
valuable consideration, including the covenants herein contained, Seller and
Buyer acknowledge and agree as follows:
1. Buyer hereby notifies Seller, that subject to the conditions to
Closing set forth in the Agreement and to the additional conditions set forth
herein, Buyer has elected to proceed to closing of the transaction contemplated
hereby.
2. Section 2.1(a) of Exhibit "A" of the Agreement is replaced with the
following:
(a) Purchase Price and Terms. The total Purchase Price for the
Property (subject to adjustment as provided herein) shall be
$11,288,850.00. The Purchase Price shall be payable in cash at
Closing.
3. As modified hereby, the Agreement continues in full force and
effect.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as
of the day and year first above written.
Witnesses: RRC ACQUISITIONS TWO, INC.,
a Florida corporation
Name:
By:
Its:
Name: Date:
Tax Identification No. 00-0000000
"BUYER"
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BENEVA SHOPS ASSOCIATES, LTD.,
a Florida limited partnership
By Its General Partner:
Sarasota Beneva Company, Ltd.,
a Florida limited partnership
By Its General Partners:
RAB Holdings, Inc., a Florida
Name: corporation
By:
Name: Xxxxxxx X. Xxxxx, III
As to RAB Holdings, Inc. President
WRC Holdings, Inc., a Texas
Name: corporation
By:
Name: Xxxxxxx X. Xxxxxx
As to WRC Holdings, Inc. President
Tax Identification No: 00-0000000
Date: