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EXHIBIT 10.51
FIRST AMENDMENT
To
REAL ESTATE SALE and PURCHASE CONTRACT
THIS AGREEMENT is made and entered into this 30th day of September,
1996, by and between Monumental Life Insurance Company, hereinafter referred to
as "Seller", located at 0000 Xxxxxxxx Xxxx X.X. Xxxxx Xxxxxx, Xxxx 00000, and
Brandywine Realty Trust, hereinafter referred to as "Purchaser".
WHEREAS, the parties have entered into a Real Estate Sale and Purchase
Contract dated August 16, 1996, (hereinafter referred to as "Contract") for
certain premises known as 0000 Xxxxxxx Xxxxx, located at 0000 Xxxxxxx Xxxxx,
Xxxxxxx, Xxxxxxx Township, Burlington County, New Jersey, which Contract is
incorporated herein by reference;
WHEREAS, the parties have agreed to extend the Inspection Period and
delay the Closing Date, which agreements the parties desire to set forth in
writing. NOW, THEREFORE,
WITNESSETH:
That in consideration of the promises and covenants hereinafter
contained and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties mutually agree that the Contract
shall be amended as follows:
1. As to Paragraphs Nos. 2 and 4: The parties agree that the Closing
Date shall be rescheduled to a time and date to be agreed upon by the parties,
which Closing Date shall in no event be later than 9:00 A.M. on the fourth
Wednesday following expiration of the Inspection Period as extended below.
Notwithstanding the above, however, the Closing date shall under no
circumstances be later than December 30, 1996, unless expressly agreed to in
writing by the parties.
In the event the sale contemplated by this Contract is not finalized by December
30, 1996 due to Seller's failure to provide the Computer Sciences Corporation
and Blue Cross Blue Shield leases or due to Seller's failure to otherwise
perform, upon Purchaser's compliance with Paragraph 7 (C) of the Contract, the
Deposit shall be refunded, this Contract shall be terminated and neither party
shall have any further rights or obligations hereunder.
In the event the sale contemplated by this Contract is not finalized by December
30, 1996 due to Purchaser's inability, unwillingness or failure to perform,
provided the Inspection Period has expired, the Deposit shall be forfeited to
and become the property of Seller, this Contract shall be terminated and neither
party shall have any further rights or obligations hereunder.
2. As to Paragraph No. 5: The Inspection Period is hereby extended
until seven calendar days following Purchaser's receipt of executed copies of
the Computer Sciences Corporation and Blue Cross Blue Shield leases. If Seller
has not received written notice of Purchaser's election to termination prior to
the expiration of that seven day period, Purchaser's option to terminate shall
expire and be of no further force or effect.
3. Except as above amended, the Contract and all of its terms and
conditions are hereby ratified and confirmed in their entirety.
WHEREFORE, the parties have hereunto affixed their signatures as of the above
stated date.
SELLER:
Monumental Life Insurance Company
By: /s/ Xxxxxxx Xxxxxxxxxx
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Its: Vice President, Xxxxxxx Xxxxxxxxxx
PURCHASER:
Brandywine Realty Trust
By: /s/ Xxxxxx X. Xxxxxxx
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Its: President, Xxxxxx X. Xxxxxxx
