Logo] November 15, 1996 VIA FACSIMILE and FEDERAL EXPRESS John P. Buza, Vice President Salomon Brothers Inc. Seven World Trade Center New York, New York 10048 Re: Agreement of Purchase and Sale dated September 27, 1996, as amended October 31, 1996...
EXHIBIT 3
[Logo] November 15, 1996
VIA FACSIMILE and FEDERAL EXPRESS
▇▇▇▇ ▇. ▇▇▇▇, Vice President
Salomon Brothers Inc.
Seven ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇
Re: Agreement of Purchase and Sale dated September 27,
1996, as amended October 31, 1996 among ▇▇▇▇▇▇
Hotels Properties Corp. ("Purchaser"), ▇▇▇▇▇▇
Hotels Corporation ("▇▇▇▇▇▇"), SB Motel Richmond
Corp., SB Motel Durham-Research Triangle Park
Corp.; SB Motel Cary Corp.; SB Motel Statesville
Corp.; SB Motel Wilmington Corp.; SB Motel
Columbia Corp.; SB Motel Charleston Corp.; SB
Motel Albany Corp.; SB Motel Virginia Beach Corp.;
SB Motel ▇▇▇▇▇▇-▇▇▇▇ Corp.; SB Motel Raleigh Corp.
and SB Motel Charlotte I-85 Corp. ("Sellers") (the
"P&S Agreement"); all capitalized terms not herein
defined shall have the meanings ascribed to such
terms in the P&S Agreement
Dear ▇▇▇▇:
Please sign below to indicate your acknowledgment that
the Feasibility Period under Section 3.1 of the P&S Agreement is
hereby extended until midnight, eastern standard time, Monday,
November 18, 1996.
Very truly yours,
▇▇▇▇▇▇ HOTELS PROPERTIES CORP.
By: \s\ E. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
------------------------
E. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Chairman
EAW/ksb
cc: ▇▇▇▇▇ ▇. ▇▇▇▇▇, Esq. (via Federal Express)
▇▇▇▇▇ ▇▇▇▇▇▇▇, Esq. (via Federal Express)
IN WITNESS WHEREOF, the undersigned have duly executed
this Amendment as of the day and year first above written.
SB MOTEL RICHMOND CORP.
By: \s\ ▇▇▇▇ ▇. ▇▇▇▇
---------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇
Title: Vice President
SB MOTEL DURHAM-RESEARCH
TRIANGLE PARK CORP.
By: \s\ ▇▇▇▇ ▇. ▇▇▇▇
-----------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇
Title: Vice President
SB MOTEL CARY CORP.
By: \s\ ▇▇▇▇ ▇. ▇▇▇▇
-----------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇
Title: Vice President
SB MOTEL STATESVILLE CORP.
By: \s\ ▇▇▇▇ ▇. ▇▇▇▇
-----------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇
Title: Vice President
SB MOTEL WILMINGTON CORP.
By: \s\ ▇▇▇▇ ▇. ▇▇▇▇
------------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇
Title: Vice President
SB MOTEL COLUMBIA CORP.
By: \s\ ▇▇▇▇ ▇. ▇▇▇▇
------------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇
Title: Vice President
2
SB MOTEL CHARLESTON CORP.
By: \s\ ▇▇▇▇ ▇. ▇▇▇▇
-------------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇
Title: Vice President
SB MOTEL ALBANY CORP.
By: \s\ ▇▇▇▇ ▇. ▇▇▇▇
-------------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇
Title: Vice President
SB MOTEL VIRGINIA BEACH CORP.
By: \s\ ▇▇▇▇ ▇. ▇▇▇▇
------------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇
Title: Vice President
SB MOTEL ▇▇▇▇▇▇-▇▇▇▇ CORP.
By: \s\ ▇▇▇▇ ▇. ▇▇▇▇
-------------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇
Title: Vice President
SB MOTEL RALEIGH CORP.
By: \s\ ▇▇▇▇ ▇. ▇▇▇▇
-------------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇
Title: Vice President
SB MOTEL CHARLOTTE I-85 CORP.
By: \s\ ▇▇▇▇ ▇. ▇▇▇▇
-------------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇
Title: Vice President
3
▇▇▇▇▇▇ HOTELS CORPORATION
By: \s\ E. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
----------------------
E. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Chairman
▇▇▇▇▇▇ HOTELS CORPORATION
By: \s\ E. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
------------------------
E. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
Chairman and President
Escrow Agent is executing this
Contract Amendment No. 1
solely to acknowledge its
continued obligations as
Escrow Agent
Lawyers Title Insurance
Corporation
By:___________________________
Its:
4