[LETTERHEAD OF SUMMIT TAX EXEMPT X.X. XX]
July 1, 1997
Suntree at Fort Xxxxx, Ltd.
c/o H/R Florida Associates, L.P.
000 Xxxxxxx Xxxxxx
Xxx Xxxx, XX 00000
Gentlemen
We entered into a Letter Agreement dated as of December 1, 1996 (the "1996
Letter Agreement"), a copy of which is attached hereto and made a part hereof.
Confirming our recent discussions, this will confirm our agreement to amend
paragraph 1 of the 1996 Letter Agreement by deleting the Minimum Pay Rate of
"7.5% per annum" applicable to the Time Period 07/01/97-12/31/97, and by
substituting a Minimum Pay Rate of "6.5% per annum" in lieu thereof.
Please return five (5) copies of this letter executed by you in the space
provided below, at which time this letter shall constitute a binding amendment
to the 1996 Letter Agreement.
Very truly yours,
SUMMIT TAX EXEMPT X.X. XX
By: Related Tax Exempt Associates II, Inc.,
a general partner
By: /s/ Xxxx Xxxxxx
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Accepted and Agreed to as of the
day of July, 1997.
SUNTREE AT FORT XXXXX, LTD.
A California limited partnership
By: H/R Florida Associates, L.P.
a Delaware limited partnership
a general partner
By: RELATED ADVANTAGED RESIDENTIAL ASSOCIATES, INC.,
a Delaware corporation,
a general partner
By: /s/ Xxx Xxxxxxx, V.P.
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000 XXXXXXX XXXXXX XXX XXXX. N.Y. 10022 212-421-3333
SPONSORED BY AFFILIATES OF THE RELATED COMPANIES, INC. AND PRUDENTIAL-BACHE
SECURITIES. INC.
