EXHIBIT 10.51
December 17, 1996
USF&G/Xxxx Xxxxx Realty Partners L.P.
c/o Xxxxx Xxxxxxx
P. O. Box 1138
Baltimore, MD 21203-1138
RE: IDS Life Insurance Company ("IDSL") Loan #694001040
Shadeland Shopping Center
Indianapolis, IN
Dear Xxxxx:
The maturity on the above referenced loan has been granted an extension until
April 1, 1997. Pursuant to your request for an extension in order to reach an
agreement on expanding the center, IDSL agrees as follows:
1. The maturity date shall be extended to April 1, 1997.
2. You shall continue to make regular mortgage payments (including applicable
tax and/or insurance escrow payment) until April 1, 1997, at which time
all loan amounts are due and payable in full.
3. IDSL shall receive an extension fee equal to $2,000 upon execution of this
letter.
Except as specifically amended hereby, the loan terms shall remain unchanged.
All other requests for modifications are hereby denied.
Please sign and return a copy of this letter by December 27, 1996 to Xxx
Xxxxxxxx indicating your acceptance of this extension.
IDS LIFE INSURANCE COMPANY
BY: ___________________
Xxxxx Xxxxxx
ITS: Assistant Vice President
Agreed and accepted this _____ day of December, 1996.
USF&G/Xxxx Xxxxx Realty Partners, L.P.
BY: ___________________________
ITS: ___________________________
