EXHIBIT 10.7
AMENDMENT TO
FOUNDERS' SUBSCRIPTION AGREEMENT
243
April 30, 1999
Baron Capital Properties ▇.▇.
▇▇▇▇▇ Capital Trust
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Gentlemen:
Reference is made to our Founders' Subscription Agreement ("Agreement"),
made as of February 3, 1998, whereby each of the undersigned subscribed for
601,080 Units of limited partnership interest ("Units") in Baron Capital
Properties L.P. ("Partnership"), subject to adjustment, which can be exchanged
for common shares of Baron Capital Trust ("Trust"). The amount of Units to be
received by each of the undersigned is intended to be exchangeable for an amount
equal to 9.5% of the common shares of the Trust issued and outstanding upon
completion of the public offering ("Cash Offering") of the Trust's common
shares. It was originally contemplated that the offering would be completed by
May 14, 1999, which is defined as the "Share Determination Date" in the
Agreement. In view of the fact that the Cash Offering has been extended to
November 30, 1998, the Share Determination Date in the Agreement must be amended
to reflect that change.
Accordingly, it is hereby agreed that November 30, 1999 shall be
substituted in place of May 14, 1999 as the Share Determination Date in
paragraph 1 of the Agreement.
Kindly indicate your agreement by signing below.
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BARON CAPITAL TRUST
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Chief Executive Officer
BARON CAPITAL PROPERTIES, L.P.
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Chief Executive Officer