EXHIBIT 10.25
FIRST AMENDMENT TO AGREEMENT OF
PURCHASE AND SALE AND ESCROW INSTRUCTIONS BETWEEN
THIRD HORIZON GROUP LIMITED PARTNERSHIP ("SELLER")
AND TRIPLE NET PROPERTIES, LLC ("PURCHASER")
DATED MARCH 24, 2000 (THE "AGREEMENT")
WHEREAS, Seller and Purchaser have entered into the Agreement for purposes
of the sale and acquisition of certain parcels of improved real property (the
"Real Property") located in various locations throughout the United States and
more particularly described in the Agreement;
WHEREAS, the Due Diligence Approval Date, as defined in the Agreement,
is currently April 23, 2000;
WHEREAS, Purchaser has not yet completed the necessary due diligence to
determine whether the Real Property is an appropriate investment for Purchaser
and has, therefore, requested an extension of the Due Diligence Approval Date.
NOW, THEREFORE, Seller and Purchaser, for $10.00 and other good and
sufficient consideration, the receipt and sufficiency of which is hereby
acknowledged, agree to the following:
1. DUE DILIGENCE APPROVAL DATE. Purchaser and Seller hereby agree to
extend, for all purposes, the Due Diligence Approval Date to 5:00
p.m. Central time on April 26, 2000.
2. MISCELLANEOUS. Any initially captioned terms contained in this
Amendment that are not separately defined herein shall have the
meanings ascribed to them in the Agreement. Except as modified and
amended by this Amendment, all other terms and conditions of this
Agreement are hereby reconfirmed by Purchaser and Seller.
[Signature page to follow]
1
IN WITNESS WHEREOF, SELLER AND PURCHASER DO HEREBY EXECUTE THIS AMENDMENT
AS OF THIS 21ST DAY OF APRIL, 2000.
SELLER: PURCHASER:
THIRD HORIZON GROUP TRIPLE NET PROPERTIES, LLC,
LIMITED PARTNERSHIP, a Virginia limited liability company
a Delaware limited partnership
By: THIRD HORIZON HGI, L.L.C., By: /s/ XXXXXXX XXX
a Delaware limited liability ------------------------------
company, its general partner Name: Xxxxxxx Xxx
------------------------
Its: Executive Vice President
------------------------
By: HORIZON GROUP PROPERTIES, L.P.,
a Delaware limited partnership,
its managing partner
BY: Horizon Group Properties, Inc.
a Maryland corporation, its
general partner
By: /s/ Xxxx X. Xxxxxx
-----------------------------
Name: Xxxx X. Xxxxxx
-----------------------
Its: President
-----------------------
2
