CLEARVIEW INVESTMENTS, LTD.
December 23, 1997
Factory Outlet Centre Limited Liability Company
x/x Xxx Xxxxxx Xxxxxxx
Xxxxxxxxxxx Xxxx Xxxxxx Xxxxx
0000 Xxxxxxxx Xxxx, Xxxxx X-000
Xxxxxxxxxxx, XX 00000
Re: Agreement of Sale dated as of August 25, 1997 between Insignia Commercial
Investments Group, Inc. ("Assignor") and Factory Outlet Centre Limited
Liability Company ("Seller") for the purchase and sale of property known
as the Factory Outlet Center in Kenosha, Wisconsin ("Property") as amended
by September 8, 1997 Letter Agreement, as amended by October 7, 1997
Letter Agreement, as amended by November 4, 1997 Letter Agreement, as
amended by November 7, 1997 Letter Agreement, as amended by November 19,
1997 Letter Agreement, as amended by December 2, 1997 Letter Agreement, as
amended by December 10, 1997, as amended by December 23, 1997 and as
assigned on October 24, 1997 to Clearview Investments, Ltd. ("Assignee")
herein referred to as Purchaser
Dear Madam or Sir:
Under the above referenced Agreement of Sale, the Purchase Price (as
defined herein) is $15,000,000.00, the Inspection Period, as defined therein,
expires December 12, 1997 and the Closing date, as defined therein, was to be
December 30, 1997.
This letter shall confirm that Seller and Purchaser have agreed to delete
the third paragraph in Letter Agreement dated December 10, 1997 and insert in
its place the following:
Seller shall credit on the closing statement to Purchaser $935,000.00 for
(Tenant Improvements, shopping center renovation).
Except as provided herein, the Agreement of Sale shall remain unmodified
and in full force and effect.
If the amendments to the Agreement of Sale provided to this letter
are acceptable, please indicate your agreement on behalf of Seller, where
indicated below.
Sincerely yours,
CLEARVIEW INVESTMENTS, LTD.
By: Redbud Capital, Inc.,
General Partner
By:/s/ Xxxxx X. Xxxxxx
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Xxxxx X. Xxxxxx, Vice President
ACCEPTED AND AGREED TO THIS
23rd DAY OF DECEMBER, 1997.
FACTORY OUTLET CENTRE LIMITED LIABILITY COMPANY
By: Outlet Centre Investors, a member
By: Balcor Partners-XXI, its general partner
By: /s/ Xxxxxx X. Xxxxxx
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Name: Xxxxxx X. Xxxxxx
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Title: CHMN CEO
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