Exhibit 10.2
FIRST AMENDMENT TO CONTRACT OF SALE
THIS FIRST AMENDMENT TO CONTRACT OF SALE (this "Amendment") is entered
into effective as of January 22, 1998, by and between TELETOUCH COMMUNICATIONS,
INC. ("Seller") and PINNACLE TOWERS INC. (the "Buyer") for the purpose of
amending that certain Contract of Sale dated as of December 31, 1997 (the
"Contract").
WHEREAS, Buyer and Seller have mutually agreed to increase the Purchase
Price (as defined in the Contract) to be paid by Buyer to Seller.
NOW THEREFORE, in consideration of the mutual promises contained
herein, and other good and valuable consideration, the receipt and sufficiency
which are hereby acknowledged, the parties agree as follows:
1. Section 3.1 of the Contract is deleted in its entirety and
replaced with the following:
"3.1 The Purchase Price. The Purchase Price to be paid by
Buyer to Seller for the Property shall be Eight
Million Seven Hundred Twenty Thousand Seventy Eight
and 40/100 Dollars ($8,720,078.40)."
2. Exhibit "B" of the Contract is amended by substituting the
legal description attached hereto as Schedule 1 for the legal
description of the Tyler, TX/Site No. 3001.
3. Exhibit "C" of the Contract is amended and replaced in its
entirety with Schedule 2 attached hereto.
4. Buyer and Seller agree to negotiate in good faith and execute
the Purchase Price Allocation (as defined in the Contract) on
a post closing basis.
Except as specifically provided for herein, all terms and conditions of
the Contract shall remain in full force and effect. This Amendment may be
executed in any number of counterparts, each of which when so executed and
delivered shall be an original but all such counterparts shall together
constitute one and the same instrument.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the
date first written above.
SELLER
TELETOUCH COMMUNICATIONS, INC.
By: /s/ Xxxxxx X. XxXxxxxx
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Xxxxxx X. XxXxxxxx
Chairman and Chief Executive Officer
BUYER
PINNACLE TOWERS, INC.
By: /s/ Xxxxxxx X. Xxxxxx
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Name: Xxxxxxx X. Xxxxxx
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Title: Project Manager
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SCHEDULE 1
Legal Description for Tyler, TX/Site No. 3001
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SCHEDULE 2
User Contracts
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