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EXHIBIT 10(d)
MALIBU CENTERS, INC.
c/o THE HAMPSTEAD GROUP
Texas Commerce Tower
0000 Xxxx Xxxxxx
Xxxxx 0000-X
Xxxxxx, Xxxxx 00000
October __, 1998
Nomura Asset Capital Corporation
Two World Xxxxxxxxx Xxxxxx, Xxxxxxxx X
Xxx Xxxx, Xxx Xxxx 00000
RE: TERM EXTENSION
Ladies and Gentlemen:
We refer to that certain (i) Loan Agreement in the amount of
$21,390,375, dated as of June 27, 1997, between Malibu Centers, Inc. ("MCI"),
as borrower and Nomura Asset Capital Corporation ("Lender"), as lender, as
amended by that certain Letter Agreement dated as of March 30, 1998 (the "Loan
Agreement") and (ii) Promissory Note in the amount of $21,390,375 dated as of
June 27, 1997 between MCI and Lender (the "Note"). Unless otherwise indicated,
capitalized terms herein shall have the meaning ascribed to them in the Loan
Agreement or in the Note.
This letter (the "Letter") shall serve to modify the Loan
Agreement such that the definition of "Stated Maturity" is hereinafter changed
to January 20, 1999.
The Letter shall also serve to modify the Note such that the
definition of "Maturity Date" is hereinafter changed to January 20, 1999.
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If there shall be any inconsistencies between the terms,
covenants, conditions and provisions set forth in the Loan Agreement or the
Note, as applicable, and the terms, covenants, conditions and provisions set
forth in this Letter, then, the terms, covenants, conditions and provisions of
this Letter shall prevail. Whenever possible, the provisions of this Letter
shall be deemed supplemental to and not in derogation of the terms of the Loan
Agreement or the Note, as applicable, and any documents relating thereof.
MCI hereby confirms and ratifies all of the terms and
provisions of the Loan Agreement and the Note as amended by this Letter.
Except as expressly amended hereby, all of the terms of the Loan Agreement and
the Note shall remain in full force and effect.
This agreement may be executed in any number of separate
counterparts, each of which shall, collectively and separately, constitute one
agreement.
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Please indicate your acceptance of the terms of this letter
agreement by signing in the space provided below.
Very truly yours,
MALIBU CENTERS, INC., a Delaware
corporation
By:
-------------------------------------
Name:
Title:
ACCEPTED AND AGREED TO:
NOMURA ASSET CAPITAL CORPORATION
By:
---------------------------------
Name:
Title:
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