Exhibit 10(d)
EQUUS MANAGEMENT COMPANY
XX XXX 000000
XXX XXXX, XX 00000-0000
November 12, 1998
Interstate General Company L.P.
0000 Xxxxxxxxx xxxxx
Xxxxx 000
Xxxxxxxxx, XX 00000
Re: Guaranty Agreement between Equus Management Company ("EMC") and
Interstate General Company ("IGC") dated as of December 31, 1997.
Gentlemen:
Effective with the close of business Augsut 7, 1998, Equus Gaming Company
L.P. was delisted from the Nasdaq National Market System and moved to the
Nasdaq SmallCap Market, without reliance to the Guaranty provided by IGC
under the Guaranty Agreement. Therefore, pursuant to Section 3 of the
Guaranty Agreement, EMC has elected to terminate the Guaranty provided by
IGC, effective as of August 7, 1998.
Very truly yours,
/s/ Xxxxxxxx Xxxxxx
Xxxxxxxx Xxxxxx
Vice President and Chief
Financial Officer
CONSENTED BY
INTERSTATE BUSINESS CORPORATION
By: /s/ Xxxxxx X. Xxxxxx
--------------------------
Xxxxxx X. Xxxxxx
Executive Vice President
