EXHIBIT 10.46
[letterhead of Nixon, Hargrave, Devans & Xxxxx llp]
WRITER'S DIRECT DIAL NUMBER:
(000) 000-0000
December 14, 1995
Xxxxxx X. and Xxxxxx X. Xxxxx Xxxxx Xxxxx Xxxxxx, Trustee
0000 Xxxxx Xxxxxxxx Xxxxxx 0000 Xxxxxxxxxx Xxxx
Xxxxxxxxxx Xxxxx, XX 00000 Xxxxxxxxxxxx, XX 00000
Xxxxxxx Xxxxx Xxxxx Xxxx Xxxx Xxxxx
0000-X Xxxxx Xxxxxxxx Xxxxxx 0000-X Xxxxx Xxxxxxxx Xxxxxx
Xxxxxxxxxx, XX 00000 Xxxxxxxxxx, XX 00000
RE: Stock Purchase Agreement dated October 10, 1995,
as Amended (the "Agreement")
Dear Ladies and Gentlemen:
Reference is made to the above-referenced Agreement. Pursuant to the
Agreement, we are delivering to you installment notes (the "Notes") in the
aggregate principal amount of $45,000,000 which are secured by letters of credit
issued by The First National Bank of Chicago ("First Chicago"). We have agreed
that you will be responsible for the fees, charges, costs and expenses
(including interest expenses) of First Chicago to issue and administer the
letters of credit (the "Letter of Credit Fees"). You have further agreed that
you will reimburse us for the Letter of Credit Fees upon our payment of the
principal and interest on the Notes.
If you are in agreement with the foregoing, please sign this letter
where indicated.
Sincerely,
GENERAL MANUFACTURED HOUSING, INC.
By: /s/ Xxxxxx X. Xxxxx
--------------------------------
Name:
Title:
AGREED AND ACKNOWLEDGED:
/s/ Xxxxxx X. Xxxxx
---------------------------
Xxxxxx X. Xxxxx
/s/ Xxxxxx X. Xxxxx
---------------------------
Xxxxxx X. Xxxxx
/s/ Xxxxxxx Xxxxx Xxxxx
---------------------------
Xxxxxxx Xxxxx Xxxxx
/s/ Drew Xxxx Xxxxx
---------------------------
Drew Xxxx Xxxxx
/s/ Xxxxx Xxxxx Xxxxxx
---------------------------
Xxxxx Xxxxx Xxxxxx
