TERMINATION AGREEMENT
THIS TERMINATION AGREEMENT (this "Agreement") is made and entered into to
be effective as of the 16th day of June, 1997, by and between XXXXXXXX
PROPERTIES, LTD., an Illinois corporation ("Purchaser"), and 000 X. XXXXXX
LIMITED PARTNERSHIP, an Illinois limited partnership ("Seller").
W I T N E S S E T H:
WHEREAS, Seller and Purchaser are parties to that certain Agreement of
Sale entered into as of May 9, 1997 (the "Original Agreement"), pursuant to
which Seller agreed to sell to Purchaser, and Purchaser agreed to purchase from
Seller, the Property (as defined in the Original Agreement); and
WHEREAS, Seller and Purchaser now desire to terminate the Original
Agreement pursuant to the terms and provisions set forth herein.
NOW, THEREFORE, for and in consideration of the premises and mutual
agreements contained herein, the payment of Ten and No/100 Dollars ($10.00) and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Seller and Purchaser agree as follows:
1. All capitalized terms used in this Agreement, to the extent not
otherwise expressly defined herein, shall have the same meanings ascribed to
such terms in the Original Agreement.
2. Seller and Purchaser hereby agree that the Original Agreement is
terminated as of the date first written above and shall be of no further legal
force and effect.
3. As additional consideration hereunder, Seller and Purchaser hereby
release and forever discharge each other, and their respective partners,
officers, directors, agents, trustees, beneficiaries, and employees, of and
from any and all claims, acts, damages, demands, rights of action and causes of
action which each party ever had, now has or in the future may have against the
other, arising from or in any way connected with the Original Agreement.
4. This Agreement may be executed in several counterparts, each
constituting a duplicate original, but all such counterparts shall constitute
one and the same instrument. This Agreement may be executed by facsimile
signature by the parties hereto, and such facsimile signatures shall have the
same force and effect as if manually signed.
[EXECUTION PAGE FOLLOWS]
IN WITNESS WHEREOF, this Amendment is executed to be effective as of the
date first set forth above.
PURCHASER:
XXXXXXXX PROPERTIES, LTD., an Illinois
corporation
By: /s/ Xxxxxx Xxxxxxxx
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Name: Xxxxxx Xxxxxxxx
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Its: President
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SELLER:
000 X. XXXXXX LIMITED PARTNERSHIP, an
Illinois limited partnership
By: 000 X. Xxxxxx Partners, Inc.,
an Illinois corporation, its general partner
By: /s/ Xxxx Xxxxxxxxx
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Name: Xxxx Xxxxxxxxx
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Its: Auth Agent
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