PROMISSORY NOTE MODIFICATION AGREEMENT
THIS PROMISSORY NOTE MODIFICATION AGREEMENT is made as of the 1st day
of September, 1997, by and between USF&G/XXXX XXXXX REALTY PARTNERS LIMITED
PARTNERSHIP, a Maryland limited partnership (the "Borrower") and USF&G REALTY
PARTNERS, INC., a Maryland corporation.
WHEREAS, by a promissory note dated August 23, 1995 (the "Note"), the
Borrower became indebted to the Lender in the original principal sum of
$3,500,000;
WHEREAS, the Note provides that the latest possible maturity date of
the Note was September 1, 1997;
WHEREAS, the parties desire to extend the latest possible Maturity Date
to October 2, 2000.
NOW, THEREFORE, THIS AGREEMENT WITNESSETH:
That in consideration of the premises and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
Lender and the Borrower covenant and agree as follows:
1. The Note is hereby amended by replacing "September 1, 1997"
with "October 2, 2000" in clause 3(e)(iv).
2. The terms, provisions and covenants of the Note are in all other
respects hereby ratified and confirmed and remain in full force and effect.
3. It is expressly agreed that the indebtedness evidenced by the Note
has not been extinguished or discharged hereby. The Borrower and the Lender
agree that the execution of this Agreement is not intended to and shall not
cause or result in a novation with regard to the Note.
WITNESS the signature and seals of the Borrower and the Lender the day
and year first above written.
IN WITNESS WHEREOF, the Borrower and the Lender have caused this
Promissory Note Modification Agreement to be duly executed and delivered under
seal this ___ day of _______, 1997, effective as of September 1, 1997.
BORROWER
WITNESS USF&G/XXXX XXXXX REALTY
PARTNERS LIMITED PARTNERSHIP,
a Maryland limited partnership
By: USF&G Realty Partners, Inc.,
a Maryland corporation, general partner
_______________________ By:___________________(SEAL)
Its:____________________
By: Xxxx Xxxxx Realty Partners, Inc.,
a Maryland corporation, general partner
_______________________ By:___________________(SEAL)
Its:___________________
LENDER
USF&G REALTY PARTNERS, INC.
_______________________ By:________________________(SEAL)
