EXHIBIT 10.2
MODIFICATION TO PURCHASE CONTRACT
This Modification to Purchase Contract ("Modification") is made and
entered into this 6th day of February 1997 between Cornerstone Realty Group
Incorporated (Purchaser") and Mill Crossing, Limited ("Seller").
WHEREAS, Purchaser and Seller entered into an Agreement of Sale dated
the 12th day of December 1996 ("Agreement"); and
WHEREAS, Purchaser and Seller now desire to modify and amend the
Agreement as set forth herein.
NOW, THEREFORE, in consideration of the premises and the respective
agreements hereinafter set forth, Seller and Purchaser agree as follows:
1. All terms not specifically defined herein shall have the same
meaning as ascribed to them in the Agreement.
2. Par. 2.2, Deposit, is hereby further amended (First Amendment dated
the 12th day of December 1996) to add to the existing paragraph the following:
"One Hundred Thousand ($100,000) Dollars upon the execution of
this modification to be placed in escrow with Commonwealth Land Title
Insurance Corporation or its authorized agent as an additional xxxxxxx
money deposit which shall be credited against the purchase price."
3. It is understood that the Purchaser has completed its due diligence.
4. Par. 7.1, Closing, is hereby amended to read:
"Closing shall take place on February 21, 1997"
5. Except as herein modified, the terms and provisions of the Agreement
shall remain in full force and effect.
6. In the event there is any conflict in the terms of this Modification
and terms of the Agreement, the terms of this Modification shall govern.
7. This Modification may be executed in separate counterparts, each of
which shall be deemed an original and all of which taken together will
constitute one agreement between the parties hereto.
IN WITNESS WHEREOF, the parties hereto have executed this agreement on
the date first above written.
CORNERSTONE REALTY GROUP INCORPORATED,
a Virginia Corporation
By:____________________________________
Name:__________________________________
Its:___________________________________
MILL CROSSING, LIMITED
By: TEXAS GREENERY INC.
General Partner
By: /s/ Xxxxxx X. Xxxxx
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Name: Xxxxxx X. Xxxxx
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Its: President
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