July 9, 1997
VIA FACSIMILE
Xxxxxx Xxxxxxx
Xxxxx Realty Limited Partnership
c/o Arden Realty, Inc.
0000 Xxxxxxxx Xxxxxxxxx, Xxxxx 000
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
RE: Agreement of Purchase and Sale and Escrow Instruction
(the "Agreement") dated May 21, 1997 by and between
Arden Realty Limited Partnership ("Buyer") and New York
Life Insurance Company ("Seller")
Dear Xx. Xxxxxxx:
The undersigned, as Seller, hereby informs you that the date
for the satisfaction or waiver of the condition with respect to
Buyer obtaining and approving the Shell Indemnity pursuant to
Section 3.3.1(f) of the Agreement, is hereby extended to Monday,
July 14, 1997, at 5:00 P.M., Eastern Daylight Time. Accordingly,
the references in Section 2.2.1(b) and (c) to "July 9, 1997"
shall be deemed to refer to July 14, 1997 at 5:00 p.m. Eastern
Daylight Time, and the date of Buyer's deliver to Escrow Holder
of the Subsequent Deposit (as defined in the Agreement) pursuant
to Section 2.2.1(b) is hereby extended to Wednesday, July 16,
1997.
Except as hereinabove written, the terms and conditions of
the Agreement shall not be affected by the foregoing and the
Agreement shall remain in full force and effect.
Xxxxxx Xxxxxxx
July 9, 1997
Page 2
This letter agreement may be executed in counterparts, each
counterpart of which shall constitute an original and all of
which, taken together, shall continue but one and the same letter
agreement.
Very truly yours,
NEW YORK LIFE INSURANCE COMPANY, a
New York Life Insurance Company
By: /s/ Xxx X. Xxxxx
Its: Assistant Vice President
The undersigned, on behalf of his client, Buyer, acknowledges
receipt of, and agrees to comply with, the foregoing.
ARDEN REALTY LIMITED PARTNERSHIP,
a Maryland limited partnership
By: /s/ Xxxxxx X. Xxxxxxx
Its: President and COO
