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EXHIBIT 10.30.1
FIRST AMENDMENT TO AGREEMENT OF SALE
This First Amendment to Agreement of Sale (this "Amendment") is made
effective as of the 12th day of March, 2001, by and between HOME INTERIORS &
GIFTS, INC., a Texas limited liability company ("Seller"), and LINCOLN PROPERTY
COMPANY COMMERCIAL, INC., a Texas corporation, and/or its assigns or affiliates
thereof ("Purchaser").
WITNESSETH:
WHEREAS, Seller and Purchaser heretofore entered into that certain
Agreement of Sale (the "Agreement") dated effective as of January 5, 2001,
pursuant to the terms of which Seller agreed to sell and Purchaser agreed to buy
certain real property located at the Southeast corner of Freeport Parkway and
Xxxxx Street in the City of Coppell, County of Dallas, State of Texas, as more
particularly described therein (the "Property").
WHEREAS, Seller and Purchaser now desire to amend the Agreement in
certain respects, as more particularly described below.
NOW, THEREFORE, for and in consideration of the premises, and other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, Seller and Purchaser hereby agree as follows:
1. Defined Terms. All terms which are defined in the Agreement
shall have the same meaning when used herein, unless
specifically provided herein to the contrary.
2. Additional Escrow Deposit. Within three (3) business days
following the execution of this Amendment by both Purchaser
and Seller, Purchaser shall deposit the sum of $10,000.00 with
the Title Company as an additional escrow deposit ("Additional
Escrow Deposit"), which Additional Escrow Deposit (together
with the Escrow Deposit previously delivered by Purchaser in
connection with this Agreement) shall be applied to the
Purchase Price at Closing. Upon the Title Company's receipt of
the Additional Escrow Deposit from Purchaser, such amount
shall immediately become non-refundable to Purchaser, except
in the event of Seller's default under the Agreement or the
failure of the conditions set forth in Article VII of the
Agreement to be satisfied and/or waived by Purchaser.
3. Purchase Price. The provisions of Section 1.02 of the
Agreement (Purchase Price) are hereby deleted in their
entirety and replaced with the following provisions:
"1.02 Purchase Price. The purchase price (the
"Purchase Price") to be paid for the Property shall
be SIX HUNDRED THIRTY-FIVE THOUSAND THIRTY-SIX AND
NO/100 DOLLARS ($635,036.00). The Purchase Price has
been determined on the basis of the Property
containing approximately 317,517.60 square feet
(7.2892 acres) and a purchase price per square foot
of $2.00. The Purchase Price, as adjusted by
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closing costs and prorations as hereinafter provided,
shall be paid by Purchaser to Seller in cash at the
Closing."
4. Inspection Period. Purchaser and Seller hereby acknowledge and
confirm that, pursuant to the provisions of Section 2.05 of
the Agreement (Inspection Period), the Inspection Period shall
expire at 5:00 p.m. (Dallas, Texas time) on Monday, April 9,
2001.
5. Closing Date. The provisions of Section 3.01 of the Agreement
(Closing Date) shall be deleted in their entirety and replaced
with the following:
"The consummation of the transactions contemplated by
this Agreement (the "Closing") shall take place in
the offices of the Title Company on or before
Wednesday, May 9, 2001, not later than 5:00 p.m.,
Dallas, Texas time (the "Closing Date").
6. Utility Easement. A new Section 7.01(g) (Utility Easement)
shall be added to the Agreement and shall read as follows:
"(g) Utility Easement. All right, title and interest
in and to that certain Utility Easement ("Utility
Easement") shown on the plat recorded in Volume
99228, Page 79, Map Records, Dallas County, Texas,
and located on the Property shall be fully terminated
and released of record by the City of Coppell
pursuant to a written instrument recorded in the
Official Records of Dallas County, Texas. Seller
agrees to reasonably cooperate with Purchaser in
obtaining such instrument from the City of Coppell."
7. Counterparts; Facsimile Signatures. This Amendment may be
executed in separate counterparts, each of which shall be an
original and all of which when taken together shall constitute
one and the same instrument. Further, this Amendment may be
executed by both Seller and Purchaser by facsimile signature,
such that execution of this Amendment by facsimile signature
shall be deemed effective for all purposes as though this
Amendment was executed as a "blue ink" original.
8. Ratification. Except as amended hereby, the Agreement shall be
and remain in full force and effect and is hereby ratified and
confirmed by Seller and Purchaser. To the extent any of the
terms and provisions of the Agreement are inconsistent with
the terms and provisions of this Amendment, the terms and
provisions of this Amendment shall govern and control.
[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.]
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EXECUTED by Seller and Purchaser as of the date first above written.
SELLER:
HOME INTERIORS & GIFTS, INC.
a Texas corporation
By: /s/ XXXXXXX X. XXXXXXXX
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Print: Xxxxxxx X. Xxxxxxxx
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Its: Vice President
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PURCHASER:
LINCOLN PROPERTY COMPANY COMMERCIAL, INC.,
a Texas corporation
By: /s/ XXXXXX X. XXXXXXX
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Name: Xxxxxx X. Xxxxxxx
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Title: Senior Vice President
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