FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT
DocuSign Envelope ID: B47FAA5C-286C-41E2-9D83-2AA3FC404888
Exhibit 10.2
FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT
THIS FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT (“Amendment”) is entered by and between X.X. Xxxxxx Enterprises, Inc., an Arkansas corporation (“Buyer”), and Fred’s Stores of Tennessee, Inc., a Delaware corporation (“Seller”).
RECITALS
A. Seller and Buyer entered into that certain Purchase and Sale Agreement dated as of October 8, 2019 (the “Agreement”), with respect to the purchase and sale of that certain Property described therein.
B. The parties agree to amend the Agreement as hereinafter set forth.
AGREEMENT
NOW, THEREFORE, in consideration of the premises and mutual covenants and agreements contained herein, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agrees as follows:
1. Terms. The foregoing recitals are true and correct and are incorporated herein by reference. Unless otherwise expressly defined herein, capitalized terms used herein shall have the meanings set forth in the Agreement.
2. Effective Date. This Amendment will be effective at the time of the last party to sign this Amendment between Seller and Buyer.
3. Purchase Price. Section 2(a) of the Agreement is hereby amended to delete the sum of Nine Million Five Hundred Thousand Dollars ($9,500,000) as the purchase price and substitute in lieu thereof the sum of Twenty-Two Million Three Hundred Thousand Dollars ($22,300,000) as the amended Purchase Price.
4. Exhibit A. Exhibit A as attached to the Agreement is hereby deleted in its entirety, and replaced with the Exhibit A as attached to this Amendment.
5. Conflict. In the case of any conflict between the terms of this Amendment and the provisions of the Agreement, the terms of this Amendment shall control.
6. Ratification. Subject to approval of the Bankruptcy Court, all terms and provisions of the Agreement, except as specifically modified herein, are hereby ratified and confirmed and shall remain in full force and effect.
7. Governing Law. The terms and provisions of this Amendment shall be governed by and construed in accordance with the same governing law provisions as set forth in Section 15 of the Agreement.
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DocuSign Envelope ID: B47FAA5C-286C-41E2-9D83-2AA3FC404888
8. Successors and Assigns. This Amendment shall be binding on and shall inure to the benefit of the parties hereto and their respective successors and assigns.
9. Counterparts; Facsimile. This Amendment may be executed in any number of counterparts. Each of such counterparts shall, for all purposes, be deemed to be an original, and all such counterparts shall together constitute one and the same agreement. This Amendment may be executed by facsimile or e-mail of a PDF file, which shall have the same force and effect as original signatures.
[signature on following page]
4850–4586–4875.2
DocuSign Envelope ID: B47FAA5C-286C-41E2-9D83-2AA3FC404888
IN WITNESS WHEREOF, the parties have executed this Amendment.
SELLER: | BUYER: | |||||||
Fred’s Stores of Tennessee, Inc. | X.X. Xxxxxx Enterprises, LLC | |||||||
By: | /s/ Xxx Xxxx | By: | /s/ X.X. Xxxxxx | |||||
Its Chief Executive Officer | Its Duly Authorized Officer | |||||||
Date: | October 29, 2019 | Date: | October 29, 2019 |
4850–4586–4875.2
Exhibit A
Property Information
STREET ADDRESS |
CITY |
STATE |
ZIP CODE | |||
00000 X XXXXXXXX XXX | XXXXX XX XXXXX | XX | 00000 | |||
00 XXXXXX XXX | XXXXXX ** | XX | 00000 | |||
00000 XXXXXXX 000 | XXXXXXXXX | XX | 00000 | |||
0000 X XXXXX XX | XXXXXX | XX | 00000 | |||
000XXXXX XXXX XXXXXX | XXX ** | XX | 00000 | |||
0000 XXXXXXX 00 X | XXXXXXX | XX | 00000 | |||
000 XXXXXXX 00 X | XXXXX | XX | 00000 | |||
0000 X XXXXXXXX XX | XXXXXXXXXX | XX | 00000 | |||
0000 XXXXXXX 00 | XXXXXXX ** | XX | 00000 | |||
000 X XXXX XX | XXXXXXX | XX | 00000 | |||
000 XXXXXX XX | XXXXXX XXXX | XX | 00000 | |||
000 X XX XXXXXX | XXXXXXXXX | XX | 00000 | |||
000 X XXXX XX | XXXXXXXXX | XX | 00000 | |||
0000 XXXXXXX XXX | XXXXXXX | XX | 00000 | |||
0000 X XXXXXX XXX | XXXXXXX | XX | 00000 | |||
000 X XXXX XX | XXXXXXX | XX | 00000 | |||
0000 X XXXXXX XX | XXXX XXXXX | XX | 00000 | |||
000 X XXXX XX | XXXXXXXX | XX | 00000 | |||
0000 X XXXXXX XX | XXXXXX | XX | 00000 | |||
000 X XXXXXXXX XX | XXXX XXXXXXX | XX | 00000 | |||
000 XXXXXXX 00 X | XXXXXXXXX | XX | 00000 | |||
0000 X XXXXXXXX XX | XXXXXXX | XX | 00000 | |||
000 X XXXXXXX | XXXXXXXXXX | XX | 00000 | |||
000 X XXXXX XX | XXXXXXXXX | XX | 00000 | |||
000 X XXXXXXXXXX XX | XXXXX | XX | 00000 | |||
000 X XXXXXXXX XX | XXXXXXXX | XX | 00000 | |||
000 X 0XX XX | XXXXXXX | XX | 00000 | |||
000 XXXXXXX 0 X | XXXXXXXXXX | XX | 00000 | |||
000 X 0XX XX | XXXXXXXXXX | XX | 00000 | |||
000 X XXXXX XX | XXXXXX | XX | 00000 | |||
000 X XXXXX XX | XXXXXXXX | XX | 00000 | |||
000 XXXXXXX 00 X | XXXXXXXXXXX | XX | 00000 | |||
000 XXXXXX XXX | XXXXXXXXXX | XX | 00000 | |||
000 XXXXXXX XXX | XXXXXXXXX | XX | 00000 | |||
0000 XXXXXXXX XXXXXXXX XXXX | XXXXXX | XX | 00000 | |||
000 XXXXXXXX XX | XXXXXX | XX | 00000 |
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000 X XXXX XXX | XXXXXXXXX | XX | 00000 | |||
000 X XXX XXXX XXX | XXXXX XXXXXXX | XX | 00000 | |||
0000 XXXXXXXX XXX | XXXXXX | XX | 00000 | |||
000 XXXX XX X | XXX XXXXXX | XX | 00000 | |||
0000 XXXXXXX 000 X | XXXXX XXXXXX | XX | 00000 | |||
000 XXXXXX XX | XXXXX XXXXXX | XX | 00000 | |||
000 X XXXX XX | XXXX XXXXX | XX | 00000 | |||
000 XXXXXXXXX XX | XXXXXX | XX | 00000 | |||
0000 X XXXXXXXXX XX | XXXXXX | XX | 00000 | |||
0000 XXXX XXXX | XXXXXXXXXXXX | XX | 00000 | |||
000 X XXXXX XX | XXXXX XXXX | XX | 00000 | |||
0000 XXXXXXX XXXX | XXXXXXX | XX | 00000 | |||
0000 X XXXXXXX XXX | XXXXXXXX | XX | 00000 | |||
000 X XXX XX | XXXXXXX | XX | 00000 | |||
00000 XXX 00 | XXXXXXXXXX | XX | 00000 | |||
0000 XXX 00 XXXXXX | XXXXXXX | XX | 00000 | |||
0000 X XXXX XX | XXXXX XXXX | XX | 00000 | |||
000 XXXXXX XXXX | XXXXXXXXXXXX | XX | 00000 | |||
0000 X XXXX XX | XX XXXXXX | XX | 00000 | |||
000 0XX XXX. | XXXXXXX | XX | 00000 |
** | There is a lease agreement with respect to these properties. |
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