ARTICLE 1. PROPERTY TO BE SOLD -------------------Agreement of Purchase and Sale • June 4th, 1997 • Beacon Properties Corp • Real estate investment trusts • Massachusetts
MEMORANDUM OF AGREEMENTMemorandum of Agreement • June 4th, 1997 • Beacon Properties Corp • Real estate investment trusts
Beacon Properties, L.P. 50 Rowes Wharf Boston, Massachusetts 02110 April 16, 1997Beacon Properties Corp • June 4th, 1997 • Real estate investment trusts
This letter confirms that we have agreed that Beacon Properties, L.P., at such time as it purchases the property in accordance with the Memorandum, will pay to SSB Realty, Inc. the additional sum of $5,000,000, of which $3,000,000 shall be paid at Closing and $1,000,000 on each of the first and second anniversary dates of the Closing. If either payment is not made when due, in addition to any other remedies, you shall have the right to offset rent otherwise due under your lease. The lease will be amended to reflect this right. The $5,000,000 shall be absolutely net to you (other than your counsel fees); for example, any transfer taxes or title insurance premiums, if incurred, shall be borne by us.
