MODIFICATION TO AGREEMENT OF SALE
This Modification to Agreement of Sale ("Modification") is made and
entered into this 27th day of January 1997 between Cornerstone Realty Group
Incorporated ("Purchaser") and Northgate Drive Limited Partnership ("Seller").
WHEREAS, Purchaser and Seller entered into an Agreement of Sale dated the
29th day of January 1997 ("Agreement"); and
WHEREAS, Purchaser and Seller now desire to modify and amend the Agreement
as set forth herein.
NOW, THEREFORE, in consideration of the premises and the respective
agreements hereinafter set forth, Seller and Purchaser agree as follows:
1. All terms not specifically defined herein shall have the same meaning
as ascribed to them in the Agreement.
2. Section 1, PURCHASE AND PRICE, is hereby amended to read:
". . . price of NINE MILLION FIVE HUNDRED EIGHT THOUSAND AND NO/100
DOLLARS ($9,508,000) . . ."
3. Section 12, PRORATIONS, Paragraph 12.1, is hereby amended to read:
". . . shall be adjusted as of the 1st day of the month of the
closing date (January 1, 1997) based upon the most recently
ascertainable information . . ."
4. Except as herein modified, the terms and provisions of the Agreement
shall remain in full force and effect.
5. In the event there is any conflict in the terms of this Modification
and the terms of the Agreement, the terms of this Modification shall govern.
6. This Modification may be executed in separate counterparts, each of
which shall be deemed an original and all of which taken together will
constitute one agreement between the parties hereto.
IN WITNESS WHEREOF, the parties hereto have executed this agreement on the
date first above written.
CORNERSTONE REALTY GROUP INCORPORATED,
a Virginia Corporation
By: /s/ X. X. Xxxxxxx
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Name: X. X. Xxxxxxx
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Its: Senior Vice President
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NORTHGATE DRIVE LIMITED PARTNERSHIP,
an Illinois Limited Partnership
By: Northgate Drive of Illinois, Inc.,
an Illinois Corporation, its General Partner
By: /s/ Xxxx Xxxxxxx
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Name: Xxxx Xxxxxxx
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Its: Authorized Rep
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