Exhibit 10.31
0000 Xxxxxxxxx Xxxx, Xxxxx 0
Xxxxxxxxxx, XX 00000-0000
000 000 0000 xxxxxxxxx.xxx [LOGO]
000 000 0000 (fax) All the comforts of home
January 11, 2000
Brick by Brick, LLC
More Bricks Realty Trust
0 Xxxxxxx Xxxx
Xxxxxxxxx, XX 00000
Attn: Xxxxxx Xxxxxxxxxx
RE: 00 Xxxxxxx Xxxxxx, Xxxxxxxxx, XX
000 Xxxxxx Xxxxxx, Xxxxxxxxx, XX
Dear Xxxxx,
This letter will confirm our agreement, effective December 30, 1999, regarding
the termination of the Leases between Xxxxxxxxx.xxx, Inc. and Brick by Brick
L.L.C. and More Bricks Realty Trust for the above-referenced properties (the
"Properties"). We agree that the Leases are hereby terminated, according to the
following terms:
1. Xxxxxxxxx.xxx shall pay More Bricks Realty Trust $200,000 and Brick
by Brick LLC $400,000 for a total of $600,000, which amount shall
include rent for February and March 2000, and shall be paid by
January 20th 2000.
2. Xxxxxxxxx.xxx shall vacate the Properties by March 31, 2000 and
shall be responsible for all taxes, utilities, and maintenance
insurance and other costs associated with their occupancy until the
date the premises are vacated.
3. Brick by Brick Realty, LLC and More Bricks Realty Trust hereby
release Xxxxxxxxx.xxx from any claims arising under the Leases or in
connection with the Properties other than the payment obligations
and other obligations set forth herein.
Please indicate your agreement to the foregoing by signing where indicated below
and returning to me.
Sincerely, ACCEPTED AND AGREED
MORE BRICKS REALTY TRUST
/s/ Xxxxx X. Derecho BRICK BY BRICK REALTY, LLC
Xxxxx X. Derecho
Chief Financial Officer
Xxxxxxxxx.xxx, Inc. By: /s/ [ILLEGIBLE]
---------------------------
