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EXHIBIT 20.04
AMENDMENT NO. 2 TO AGREEMENT OF PURCHASE AND SALE
THIS AMENDMENT NO. 2 TO AGREEMENT OF PURCHASE AND SALE is made as of May
31, 1996 by and between CALIFORNIA JOCKEY CLUB, a Delaware corporation
("Seller") and XXX XXXXXXX & ASSOCIATES, INC., a Michigan corporation
("Purchaser").
A. Seller and Purchaser have entered into an Agreement of Purchase and
Sale (the "Agreement") dated December 21, 1995 relating to certain real property
located in San Mateo, California and commonly known as the Bay Xxxxxxx Training
Track (the "Subject Real Property"), which is a part of property owned by Seller
and referred to in the Agreement as "Bay Xxxxxxx."
B. Seller and Purchaser entered into Amendment No. 1 to the Agreement as
of March 5, 1996 which extended Purchaser's time to conduct its due diligence
until May 31, 1996.
C. In light of various factors which have come to the parties' attention
relating to the cost of off-site improvements necessary for development of the
Subject Real Property, Purchaser has requested and Seller is willing to grant
additional time for Purchaser to conduct its due diligence.
NOW THEREFORE, the parties agree as follows:
1. The Approval Date, as defined in Section 3.1 of the Agreement is
amended to be June 28, 1996.
2. This Amendment No. 2 may be signed in counterparts, each of which shall
constitute an original as against any party whose signature appears thereon and
all of which shall constitute one and the same instrument.
3. All other terms and conditions of the Agreement shall remain
unchanged.
4. As of the date of this Amendment No. 2, neither party has any claims
against the other arising out of or relating to the Agreement.
CALIFORNIA JOCKEY CLUB XXX XXXXXXX & ASSOCIATES, INC.
By:_________________________ By:_________________________
Its:_________________________ Its:_________________________
