Carlyle Income Plus, Ltd.
c/o JMB Realty Corporation
000 Xxxxx Xxxxxxxx Xxxxxx
Xxxxxxx, Xxxxxxxx 00000
August 13, 1997
Xxxx Cornerstone II
0000 XxxXxxxxx Xxxxxxxxx
Xxxxx 000
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
Attention: Xxxxx X. Xxxx
Re: Xxxxxx Industrial Properties
Ladies and Gentlemen:
Reference is made to that certain Purchase Agreement and
Joint Escrow Instructions dated as of April 21, 1997, by and
between Carlyle Income Plus, Ltd., an Illinois limited
partnership ("Seller"), and Xxxx Cornerstone II, a California
general partnership ("Prior Buyer"), as amended by letter
agreements respectively dated June 6, 1997, July 3, 1997 and July
30, 1997, and as assigned to Xxxxxx Industrial Park Partners, a
California limited partnership ("Buyer") (as amended and
assigned, the "Agreement"). Initially capitalized terms not
otherwise defined herein shall have the meanings ascribed to such
terms in the Agreement.
In consideration of the mutual promises and undertakings of
the parties, and for other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the
parties hereto hereby agree as follows:
1. Extension of Due Diligence Period and Closing Date.
Notwithstanding anything to the contrary set forth in the
Agreement, the Due Diligence Period and the Closing Date are
hereby extended until August 20, 1997, or such earlier date as
may be agreed upon by Buyer and Seller.
2. Counterparts. This letter agreement may be executed in
counterparts, each of which shall be deemed an original, and all
of which shall together constitute one letter agreement.
Please indicate your consent to the foregoing by signing
where noted below.
Very truly yours,
CARLYLE INCOME PLUS, LTD.,
an Illinois limited partnership
By: JMB REALTY CORPORATION,
a Delaware corporation,
Corporate General Partner
By: Xxxxx X. Xxxxxxx
Name: XXXXX X. XXXXXXX
Title: VICE PRESIDENT
AGREED TO AS OF
August 14, 1997
XXXXXX INDUSTRIAL PARK PARTNERS,
a California limited partnership
By: XXXX CORNERSTONE II,
a California general partnership,
its general partner
By: CORNERSTONE VENTURES, INC.,
a California corporation,
its general partner
By: Xxxxx X. Xxxx
Name: XXXXX X. XXXX
Title:Senior Vice President
cc: Xx. Xxxxx Xxxxxxxx
Xxxxxx X. Xxxxx, Esq.
