EXHIBIT 10x
SECOND AMENDMENT TO
PURCHASE AND SALE CONTRACT
THIS SECOND AMENDMENT TO PURCHASE AND SALE CONTRACT (this "AMENDMENT")
is made and executed effective as of February 14, 2002, by and between TOWER
PLACE JOINT VENTURE ("SELLER") and TISANO REALTY, INC. ("BUYER").
Buyer and Seller entered into that certain Purchase and Sale Contract
dated effective as of January 2, 2002, as amended by the First Amendment to
Purchase and Sale Contract dated effective as of February 14, 2002 between Buyer
and Seller (said Purchase and Sale Contract, as amended to date, is herein
called the "CONTRACT"). Buyer delivered to Seller notice to terminate the
Contract on February 14, 2002. Buyer and Seller now desire to reinstate and
further amend the Contract.
NOW, THEREFORE, in consideration of the premises, and for other good
and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
1. Reinstatement and Ratification. Except as expressly provided
otherwise in this Amendment, notwithstanding Buyer's prior termination of the
Contract, the Contract shall be reinstated and shall continue in full force and
effect in accordance with its terms.
2. Extension of Financing Period. Article 7(c) of the Contract is
hereby amended to provide that that the Financing Period shall expire at 5:00
p.m., CST on Friday, February 22, 2002, and the Closing Date shall be calculated
from the end of the Financing Period as so extended.
3. Defined Terms. Terms defined in the Contract shall have the same
meaning when used in this Amendment.
4. Counterparts. This Amendment may be executed in two or more
identical counterparts, each of which when so executed shall be deemed to be an
original, but all of which when taken together shall constitute one and the same
instrument.
REMAINDER OF THIS PAGE
LEFT BLANK INTENTIONALLY
IN WITNESS WHEREOF, the parties have executed this Amendment as of the
date first written above.
BUYER:
TISANO REALTY, INC., a Connecticut
corporation
By:
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Name:
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Title:
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SELLER:
TOWER PLACE JOINT VENTURE, a
Texas joint venture
By: ▇▇▇▇▇▇ Income Properties I, Ltd., a
Texas limited partnership
By: ▇▇▇▇▇▇ Realty Investors VIII, Inc., a
Texas corporation, General Partner
By:
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Name:
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Title:
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SIGNATURE PAGE TO
SECOND AMENDMENT TO PURCHASE AND SALE CONTRACT