WOODLAND HILLS PARTNERS LIMITED PARTNERSHIP
x/x Xxx Xxxxxx Xxxxxxx
Xxxxxxxxxxx Xxxx Xxxxxx Xxxxx
0000 Xxxxxxxx Xxxx
Xxxxx X000
Xxxxxxxxxxx, Xxxxxxxx 00000
November 11, 1996
VIA FACSIMILE
TGM Realty Corp. #5
c/o TGM Associates L.P.
000 Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xx. Xxxxxx Xxxxxxxx
Re: Woodland Hills
Dear Xx. Xxxxxxxx:
Reference is hereby made to that certain Agreement of Sale (the
"Agreement") by and between TGM Realty Corp. #5, a Delaware corporation, as
Purchaser and the undersigned, as Seller, dated August 23, 1996. All
capitalized terms used but not defined herein shall have the meanings ascribed
to them in the Agreement.
In connection with Purchaser's review of the zoning of the Property,
Purchaser has advised Seller of certain concerns relating to the zoning of the
Property. Specifically, Purchaser has raised concerns regarding the distances
between the buildings located on the Property and the platting of the Property.
This will confirm the agreement of the parties that, in satisfaction of
all of Purchaser's concerns regarding the zoning of the Property (including the
concerns identified in the immediately preceding paragraph), Seller has agreed
to provide Purchaser with a credit against the Purchase Price in the sum of
$200,000. This credit is in addition to the $62,500 described in that certain
letter from the undersigned to you dated September 9, 1996.
Please confirm your agreement to the foregoing by executing a copy of this
letter and returning it to Xxxxxxx X. Xxxx by telecopier (312-902-1061).
Very truly yours,
WOODLAND HILLS PARTNERS LIMITED
PARTNERSHIP, an Illinois limited partnership
By: Woodland Hills Partners, Inc., an Illinois
corporation, its general partner
By: /s/ Xxxxxx X. Charleston
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Name:
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Its: Authorized Agent
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255142
cc: Xx. Xx Xxxxxxxxx
Xxxxxxx X. Xxxx, Esq.
ACCEPTED AND AGREED TO THIS
DAY OF NOVEMBER, 1996
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TGM REALTY CORP. #5
By: /s/ Xxxxxx Xxxxxxxx
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Name:
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Its:
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