FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT
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THIS AGREEMENT is made as of the 3rd day of September, 1998, between
USF&G/XXXX XXXXX REALTY PARTNERS LIMITED PARTNERSHIP, a Maryland limited
partnership ("Seller"), and AMERICA FIRST APARTMENT INVESTORS, L.P., a
Delaware limited partnership ("Buyer").
Background
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Seller and Buyer entered into a Purchase and Sale Agreement dated
July 31, 1998 (the "Contract"), and desire to amend the Contract as
hereinafter provided.
NOW THEREFORE, in consideration of the premises and for good and
valuable consideration, receipt of which is hereby acknowledged, Seller
and Buyer acknowledge and agree as follows:
1. Section 2.1(a) is amended to change "$15,825,000.00" which appears
in the second line to "$15,550,000.00."
2. The Inspection Period described in Section 3.1(a) has ended as of
the date hereof, and the Xxxxxxx Money Deposit is thus non-refundable
except as otherwise provided in the Contract.
3. Section 3.2 of the Contract is amended to provide that Closing
shall take place on September 18, 1998.
4. Buyer acknowledges and agrees that the Title Insurance Commitment
previously delivered to Buyer is acceptable, and Buyer's time period
for providing Seller with notice of any Title Defects has ended with the end
of the Inspection Period.
5. As modified hereby, the Contract continues in full force and
effect.
6. This Agreement may be executed in counterparts which, when taken
together, shall constitute a single Agreement.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement
as of the day and year after above written.
Witnesses: AMERICA FIRST APARTMENT INVESTORS,
L.P., a Delaware limited partnership
By Its General Partner:
CAPITAL ASSOCIATES IV, a Delaware
_________________________ corporation
Name: ___________________
By: _______________________________
_________________________ Name: _____________________________
Name: ___________________ Title: ____________________________
"BUYER"
USF&G/XXXX XXXXX REALTY PARTNERS
LIMITED PARTNERSHIP, a Maryland limited
partnership
By Its Authorized General Partner:
_________________________ USF&G REALTY PARTNERS, INC.,
Name: ___________________ a Maryland corporation,
By: _______________________________
_________________________ Name: _____________________________
Name: ___________________ Title: ____________________________
"SELLER"
