Exhibit 10.20
ADDENDUM
TO PURCHASE AGREEMENT FOR
Angeles partners xii ("SELLER")
AND K&D ENTERPRISES, INC. ("PURCHASER")
This addendum is hereby made a part of and included in the Purchase
Agreement (the "Agreement"), by and between Seller and Purchaser for the
purchase of the property located at 00000 Xxxxxxxx Xxxx, Xxxxxxx Xxxxxxx, Xxxx
and known as permanent parcel number 000-00-000 (the "Property").
The parties hereby agree to the following revisions to the Agreement:
1. The Section of the Agreement entitled "Disclosure" shall be deleted in its
entirety and replaced with the following:
"Disclosure. To Seller's knowledge, no notice of violation of any applicable
federal, state or local statute, law, ordinance, order, requirement, rule or
regulation affecting the Property, or with respect to the maintenance, use or
occupancy of the Property, has been given by any governmental authority having
jurisdiction over the Property or by any other person entitled to enforce the
same."
2. The parties agree that Seller will not assume or be responsible to pay any
costs or fees whatsoever in connection with the proposed sale of the Property
and that such costs and fees will be the sole responsibility and obligation of
Purchaser. Such costs and fees shall include, without limitation, any and all
costs incurred by Seller relating to the Property, including attorney's fees and
broker's fees, from the date of the signing of the Agreement to the date of the
Closing.
3. The parties further agree that any fees due and owing to Seller's counsel
(Squire, Xxxxxxx & Xxxxxxx LLP) shall be paid by Purchaser through escrowed
funds at the Closing.
4. Additionally, the parties agree that if the proposed sale of the Property
is not consummated prior to July 31, 1999, Purchaser will remain liable for any
and all out-of-pocket costs or fees whatsoever incurred by Seller in connection
with the foregoing.
5. The parties agree that the date of the Agreement is May 25, 1999.
6. All other terms and conditions of the Agreement shall remain unchanged and
in full force and effect.
IN WITNESS WHEREOF, the Seller and Purchaser have duly executed duplicate
copies of this Addendum as of the dates set forth below.
SELLER PURCHASER
Angeles Partners XII K&D Enterprises, Inc.
a California limited partnership an Ohio corporation
By: Angeles Realty Corporation II,
a California corporation, its managing
general partner
By: ____________________________________ By:__________________________
Xxxxxx X. Xxxxxx, Senior Vice President Xxxxxxx X. Xxxxx, CEO
Date: ___________________________________ Date:________________________
