EXHIBIT 10.19
AMENDMENT TO PURCHASE AGREEMENT
This Amendment is executed as of the 29th day of July, 2001, by and
between GCG Acquisitions, LLP, or its assigns ("Buyer") and Healthcare
Recoveries, Inc. ("Seller").
RECITALS
1. Buyer and Seller entered into a Purchase Agreement having an
Acceptance Date of June 29, 2001 for property located at 0000 Xxxxx Xxxxxxxxx
Xxxxxx, Xxx Xxxxxx, Xxxxxxxxx ("Property").
2. During Buyer's due diligence on the Property, the parties have
learned that the parking ratio on the Property is not as represented. Therefore
the parties desire to allow Buyer the opportunity to attempt to obtain approvals
for the addition of parking spaces on the Property and to extend the Contingency
Period.
3. In order to accomplish this change in parking ratios and add
more parking spaces to the Property, the Buyers desire to enter into this
Amendment.
NOW, THEREFORE, the parties hereby agree as follows:
1. The Contingency Period set forth in Section 4.9 of the
Purchase Contract is amended to provide that it expires on October 30, 2001.
Buyer shall retain the right to extend the Contingency Period for thirty (30)
days, as set forth in the Purchase Contract.
2. The following is added to Section 4.5.5 of the Purchase
Contract:
Buyer further obtaining all necessary approvals (including
governmental and Wispark approval) for Buyer's plans to expand the
parking at the Property, to provide for a parking ratio of between 4
and 5 spaces per 0000 xxxxxx xxxx xx xxxxxxxx xxxx at the Property, in
an economically feasible manner. Buyer's plans to expand the parking
shall be at Buyer's sole discretion. Buyer and Seller further agreeing
upon a purchase price reduction to offset the Buyer's cost to expand
the parking at the Property, as described in this Amendment.
3. Capitalized terms used herein shall have the meaning ascribed
to them in the Offer.
IN WITNESS WHEREOF, the parties have signed this Amendment as of the
date first above written.
GCG ACQUISITIONS, LLP
By: /s/ XXXXX X. XXXXX
-------------------------------------
Name: Xxxxx X. Xxxxx
Title: Partner
HEALTHCARE RECOVERIES, INC.
By: /s/ XXXXXXX X. XXXXXX
-------------------------------------
Name: Xxxxxxx X. Xxxxxx
Title: CFO
