EXHIBIT 10.93
REINSTATEMENT OF AND SECOND AMENDMENT TO LEASE AGREEMENT
FOR THE IKON BUILDINGS
REINSTATEMENT OF AND SECOND AMENDMENT TO
AGREEMENT FOR THE PURCHASE
AND SALE OF PROPERTY
THIS REINSTATEMENT OF AND SECOND AMENDMENT TO AGREEMENT FOR THE
PURCHASE AND SALE OF PROPERTY is made and entered into as of the _____day of
September, 2001, by and between XXXXX CAPITAL, INC., a Georgia corporation
("Purchaser") and SV RESERVE, L.P., a Georgia limited partnership ("Seller").
W I T N E S S E T H:
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WHEREAS, the parties hereto entered into that certain Agreement for
the Purchase and Sale of Property, dated as of July 23, 2001, relating to that
certain property located at 000-000 Xxxxx Xxxx, Xxxxxxx, Xxxxx and being more
particularly described on Exhibit A hereto(the "Property"), as amended by that
certain First Amendment to Agreement for the Purchase and Sale of Property,
dated August ___, 2001 (together, the "Agreement"); and
WHEREAS, the Agreement was timely terminated by Purchaser; and
WHEREAS, the parties desire to reinstate the Agreement and amend
certain provisions of the Agreement;
NOW, THEREFORE, for and in consideration of the premises and the
mutual covenants and agreements herein set forth, and other good and valuable
consideration the receipt, adequacy and sufficiency of which are hereby
expressly acknowledged by the parties hereto, Seller and Purchaser do hereby
covenant and agree as follows:
1. The Agreement, as amended hereby, is reinstated.
2. Purchaser hereby waives the right to terminate the Agreement set
forth in paragraph 5 of the Agreement, and said paragraph 5 shall be deleted
from the Agreement.
3. Purchaser acknowledges that Purchaser waives all objections to
title and survey with respect to the Property other than any Monetary Liens and
matters first arising after the date of Purchaser's Title Commitment and the
Title Company is currently prepared to satisfy the condition described in
Paragraph 6(c) of the Agreement. In all other respects, Purchaser confirms that
no default exists by Seller under the Agreement nor does Purchaser know of any
fact or circumstances which would cause any of the conditions set forth in
Paragraph 6 (other than delivery of the Tenant Estoppel Certificate) of the
Agreement not to be satisfied.
4. Seller agrees to escrow from its proceeds at closing the sum of
$50,000.00 pursuant to an escrow agreement in substantially the form attached as
Exhibit B hereto.
5. The parties authorize and instruct the Escrow Agent to retain and
hold in accordance with the Agreement the $500,000 in Xxxxxxx Money previously
deposited by Purchaser notwithstanding prior instructions to the contrary.
6. Notwithstanding the date of Closing specified in paragraph 10 of
the Agreement, the parties agree to use commercially reasonable efforts to close
the transactions contemplated by the Agreement on or before September 7, 2001.
7. Capitalized terms used herein shall have the meaning assigned to
them in the Agreement unless the context requires otherwise.
8. Except as expressly modified by the terms and conditions hereof,
the terms and conditions of the Agreement shall remain unchanged and in full
force and effect. Seller and Purchaser hereby ratify and affirm the Agreement as
amended hereby.
9. This instrument may be executed in counterparts each of which
shall be deemed an original and which taken together shall constitute one
instrument. Facsimile copies shall be deemed to be originals.
[signatures commence on next page]
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to
be duly executed by duly authorized representatives as of the day, month and
year first above written.
"PURCHASER":
XXXXX CAPITAL, INC.,
a Georgia corporation
By: /s/ Xxxxxxx X. Xxxxxxxx
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Its: Xxxxxxx X. Xxxxxxxx
------------------------
Senior Vice President
"SELLER":
SV RESERVE, L.P.,
a Georgia limited partnership
By: SV Reserve GP, LLC, a Georgia
Limited liability company, its
Sole general partner
By: /s/ X.X. Xxxxxxxx
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X. X. Xxxxxxxx, President
