Logo] November 15, 1996 VIA FACSIMILE and FEDERAL EXPRESS John P. Buza, Vice President Salomon Brothers Inc. Seven World Trade Center New York, New York 10048 Re: Agreement of Purchase and Sale dated September 27, 1996, as amended October 31, 1996...
EXHIBIT 3
[Logo] November 15, 1996
VIA FACSIMILE and FEDERAL EXPRESS
Xxxx X. Xxxx, Vice President
Salomon Brothers Inc.
Seven Xxxxx Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Re: Agreement of Purchase and Sale dated September 27,
1996, as amended October 31, 1996 among Xxxxxx
Hotels Properties Corp. ("Purchaser"), Xxxxxx
Hotels Corporation ("Xxxxxx"), SB Motel Richmond
Corp., SB Motel Durham-Research Triangle Park
Corp.; SB Motel Cary Corp.; SB Motel Statesville
Corp.; SB Motel Wilmington Corp.; SB Motel
Columbia Corp.; SB Motel Charleston Corp.; SB
Motel Albany Corp.; SB Motel Virginia Beach Corp.;
SB Motel Xxxxxx-Xxxx Corp.; SB Motel Raleigh Corp.
and SB Motel Charlotte I-85 Corp. ("Sellers") (the
"P&S Agreement"); all capitalized terms not herein
defined shall have the meanings ascribed to such
terms in the P&S Agreement
Dear Xxxx:
Please sign below to indicate your acknowledgment that
the Feasibility Period under Section 3.1 of the P&S Agreement is
hereby extended until midnight, eastern standard time, Monday,
November 18, 1996.
Very truly yours,
XXXXXX HOTELS PROPERTIES CORP.
By: \s\ E. Xxxxxxx Xxxxxx
------------------------
E. Xxxxxxx Xxxxxx
Chairman
EAW/ksb
cc: Xxxxx X. Xxxxx, Esq. (via Federal Express)
Xxxxx Xxxxxxx, Esq. (via Federal Express)
IN WITNESS WHEREOF, the undersigned have duly executed
this Amendment as of the day and year first above written.
SB MOTEL RICHMOND CORP.
By: \s\ Xxxx X. Xxxx
---------------------
Name: Xxxx X. Xxxx
Title: Vice President
SB MOTEL DURHAM-RESEARCH
TRIANGLE PARK CORP.
By: \s\ Xxxx X. Xxxx
-----------------------
Name: Xxxx X. Xxxx
Title: Vice President
SB MOTEL CARY CORP.
By: \s\ Xxxx X. Xxxx
-----------------------
Name: Xxxx X. Xxxx
Title: Vice President
SB MOTEL STATESVILLE CORP.
By: \s\ Xxxx X. Xxxx
-----------------------
Name: Xxxx X. Xxxx
Title: Vice President
SB MOTEL WILMINGTON CORP.
By: \s\ Xxxx X. Xxxx
------------------------
Name: Xxxx X. Xxxx
Title: Vice President
SB MOTEL COLUMBIA CORP.
By: \s\ Xxxx X. Xxxx
------------------------
Name: Xxxx X. Xxxx
Title: Vice President
2
SB MOTEL CHARLESTON CORP.
By: \s\ Xxxx X. Xxxx
-------------------------
Name: Xxxx X. Xxxx
Title: Vice President
SB MOTEL ALBANY CORP.
By: \s\ Xxxx X. Xxxx
-------------------------
Name: Xxxx X. Xxxx
Title: Vice President
SB MOTEL VIRGINIA BEACH CORP.
By: \s\ Xxxx X. Xxxx
------------------------
Name: Xxxx X. Xxxx
Title: Vice President
SB MOTEL XXXXXX-XXXX CORP.
By: \s\ Xxxx X. Xxxx
-------------------------
Name: Xxxx X. Xxxx
Title: Vice President
SB MOTEL RALEIGH CORP.
By: \s\ Xxxx X. Xxxx
-------------------------
Name: Xxxx X. Xxxx
Title: Vice President
SB MOTEL CHARLOTTE I-85 CORP.
By: \s\ Xxxx X. Xxxx
-------------------------
Name: Xxxx X. Xxxx
Title: Vice President
3
XXXXXX HOTELS CORPORATION
By: \s\ E. Xxxxxxx Xxxxxx
----------------------
E. Xxxxxxx Xxxxxx
Chairman
XXXXXX HOTELS CORPORATION
By: \s\ E. Xxxxxxx Xxxxxx
------------------------
E. Xxxxxxx Xxxxxx
Chairman and President
Escrow Agent is executing this
Contract Amendment No. 1
solely to acknowledge its
continued obligations as
Escrow Agent
Lawyers Title Insurance
Corporation
By:___________________________
Its:
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