Exhibit 10.48
March __, 1998
Ambassador Eyewear Group, Inc.
0000 Xxxxxxxx Xxxx
Xxxxxxxx, Xxxxxxxxxxxx 00000
RE: Agreement to Rent
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Ladies and Gentlemen:
Reference is hereby made to the Agreement of Sale (the "Agreement") dated
July 10, 1997 between us and 0000 Xxxxxx Xxxx Partnership. Subject to the terms
and conditions of the Agreement, we have obtained an option to purchase the
property located at 0000 Xxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxxxxxx (the "Property")
for a purchase price of $2,465,540.
With respect to and in anticipation of the purchase of the Property, we have
agreed to rent said Property to Ambassador Eyewear Group, Inc. (the "Company")
on substantially the same terms and conditions set forth in that certain Lease
dated July 10, 1997 between the Company and 0000 Xxxxxxxx Xxxx Partnership. The
parties agree to enter into a lease agreement reflecting the same promptly
after the date hereof.
Please confirm our agreement by signing this letter where indicated.
Very truly yours,
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Xxxxx Xxxxxxx
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Xxxx Xxxxxxx
CONFIRMED AND AGREED TO:
AMBASSADOR EYEWEAR GROUP, INC.
By:
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Title:
