EXHIBIT 4.1
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(JMB/Manhattan)
NOTE EXTENSION AND MODIFICATION AGREEMENT
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THIS AGREEMENT, is made as of the 30th day of June, 1999, by and
between JMB/Manhattan Associates, Ltd. ("Payor") and JMB Realty Corporation
("Payee").
W I T N E S S E T H :
WHEREAS, Payee is the holder of a certain Promissory Note, dated
October 7, 1996 (the "Note") made by Payor in favor of Payee, in the
original principal amount of $2,000,000.00 (or such lesser amount as
further set forth in the Note); and,
WHEREAS, the Note matured on June 30, 1999; and,
WHEREAS, Payor and Payee desire to extend the Note and modify it as
set forth herein.
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency thereof is mutually acknowledged, Payor and Payee hereby agree
as follows:
1. The maturity date for all loans from time to time outstanding
under the Note is hereby extended from June 30, 1999 to June 30, 2001.
2. As amended hereby, Payor and Payee hereby ratify and confirm the
Note in each and every respect, as if fully set forth herein.
3. This Agreement may be executed in counterparts each of which when
taken together shall constitute a single original agreement.
IN WITNESS WHEREOF, the parties hereto have entered into this
Agreement as of the date first above set forth.
PAYOR: PAYEE:
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JMB/MANHATTAN ASSOCIATES, LTD. JMB REALTY CORPORATION
By: JMB/MANHATTAN INVESTORS, INC. By:
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By:
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Its:
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