Contract
EXHIBIT 10.138
Minto (Delaware), LLC | Minto Holdings, Inc |
October 27 2006
Minto Builders (Florida), Inc.
0000 Xxxxxxxxxxx Xxxx
Xxx Xxxxx, Xxxxxxxx 00000
Inland American Real Estate Trust, Inc.
0000 Xxxxxxxxxxx Xxxx
Xxx Xxxxx, Xxxxxxxx 00000
Ladies and Gentlemen:
Reference is made to that certain Securities Purchase and Subscription Agreement, dated as of October 11, 2005 (the “Purchase Agreement”), by and among Minto Builders (Florida), Inc., a Florida corporation (the “Company”), Minto (Delaware), LLC, a Delaware limited liability company (“Minto Delaware”), Minto Holdings Inc., a Canadian corporation incorporated under the laws of Ontario (“Minto Holdings”), and Inland American Real Estate Trust, Inc., a Maryland corporation (the “Purchaser”). Pursuant to Section 2.4 of the Purchase Agreement, the Purchaser is required to invest a total of $1,173,920,000 in the Company by December 31, 2006, and the Company is required to redeem all outstanding shares of Series C Cumulative Preferred Stock by no later than December 31, 2006.
Minto Delaware and Minto Holdings hereby agree that the first reference in Section 2.4 to December 31, 2006 (as described above) shall be amended to be March 31, 2007, and the second reference in Section 2.4 to December 31, 2006 (described above) shall be amended to January 31, 2007. Thus, the Purchaser is not required to invest a total of $1,173,920,000 in the Company until March 31, 2007, and the Company is not required to redeem all outstanding shares of Series C Cumulative Preferred Stock until January 31, 2007. This letter agreement shall serve as an amendment to the Purchase Agreement. Except as set forth herein, the Purchase Agreement shall remain in full force and effect.
Minto Builders (Florida), Inc.
Inland American Real Estate Trust, Inc.
October 27, 2006
Page 2
Please sign this letter below to indicate your agreement to its terms.
Very truly yours,
Minto (Delaware), LLC
By:
/s/ Xxxxx Greenberg_________
Name: Xxxxx Xxxxxxxxx
Title: Chairman
By:
/s/ Xxxx McKinney___________
Name: Xxxx XxXxxxxx
Title: Vice President
Minto Holdings, Inc.
By:
/s/ Xxxxx Greenberg_________
Name: Xxxxx Xxxxxxxxx
Title: Chairman
By:
/s/ Xxxx McKinney___________
Name: Xxxx XxXxxxxx
Title: Executive Vice President
Acknowledged and Agreed:
Minto Builders (Florida), Inc.
By:
/s/ Xxxx X. Foust___________
Name: Xxxx X. Xxxxx
Title: Treasurer
Inland American Real Estate Trust, Inc.
By:
/s/ Xxxx X. Foust___________
Name: Xxxx X. Xxxxx
Title: Treasurer
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