THIRD AMENDMENT TO AGREEMENT OF SALE
THIS THIRD AMENDMENT TO AGREEMENT OF SALE (this "Amendment"), is entered
into as of the 6th day of January, 1997, by and between LINCOLN PROPERTY
COMPANY N.C., INC., a Texas corporation ("Purchaser"), and BGT LIMITED
PARTNERSHIP, an Illinois limited partnership ("Seller").
W I T N E S S E T H:
A. Purchaser and Seller have heretofore entered into a certain Agreement
of Sale dated December 6, 1996 (as previously amended, the "Agreement") for the
purchase and sale of the property commonly known as 1420 Harbor Bay, located in
Alameda, California.
B. Purchaser and Seller now desire to amend the Agreement to change the
Closing Date and the Purchase Price.
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree
as follows:
1. The Purchase Price, as defined in Paragraph 1 of the Agreement is
hereby changed to $6,900,000.
2. The expiration of the Inspection Period (as defined in Paragraph 7.1
of the Agreement) is deemed to have occurred at 2:00 p.m. Chicago time on
January 6, 1997. Purchaser has elected to waive its rights to terminate the
Agreement puruant to Paragraph 7.1 thereof.
3. The Closing Date, as defined in Paragraph 8 of the Agreement, shall
be changed to January 21, 1997.
4. The Escrow Agreement is hereby modified to conform with the terms of
this Amendment.
5. Except as specifically modified herein, the terms and conditions of
the Agreement shall remain unchanged and in full force and effect.
6. All capitalized terms used in this Amendment, unless otherwise
defined herein, shall have the meanings given to them in the Agreement.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of
the date first set forth above.
PURCHASER:
LINCOLN PROPERTY COMPANY N.C., INC.,
a Texas corporation
By: /s/ Xxxxx X. Xxxx
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Name: Xxxxxx X. Xxxx
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Its: Director of Aquisitions
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SELLER:
BGT LIMITED PARTNERSHIP,
By: BGT Partners, Inc., an Illinois
corporation, its general partner
By: /s/ Xxxxx X. Xxxxxxxxx
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Name: Xxxxx X. Xxxxxxxxx
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Its: Authorized Rep.
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