1
EXHIBIT 10.3
FIRST AMENDMENT TO AGREEMENT OF PURCHASE AND SALE
AND JOINT ESCROW INSTRUCTIONS
This FIRST AMENDMENT TO AGREEMENT OF PURCHASE AND SALE AND JOINT ESCROW
INSTRUCTIONS(this "First Amendment") is made and entered into as of this 15th
day of October, 1997, by and between Activity Business Associates, LLC, a
California limited liability company ("Seller"), and Arden Realty Limited
Partnership, a Maryland limited partnership ("Buyer"), with reference to the
following facts and circumstances:
A. Seller and Buyer have heretofore entered into that certain Agreement
of Purchase and Sale and Joint Escrow Instructions dated as of October 8, 1997
(the "Purchase Agreement").
B. Seller and Buyer desire to modify the Purchase Agreement as
hereinafter provided.
C. All capitalized terms not otherwise defined herein shall have the
meaning afforded such term in the Purchase Agreement.
NOW, THEREFORE, IN CONSIDERATION of the foregoing, and other valuable
consideration, the receipt and adequacy of which are hereby acknowledged, the
parties hereto hereby agree as follows:
1. That portion of Section 7.1, which reads as follows:
"January 6, 1998"
is hereby deleted in its entirety and the following is hereby substituted in
lieu thereof:
"November 20, 1997."
2. No other Amendments. Except as expressly set forth in this First
Amendment, the Purchase Agreement shall remain unmodified and in full force and
effect.
2
IN WITNESS WHEREOF, the parties hereto have executed this First
Amendment as of the date first above written.
BUYER: Arden Realty Limited Partnership,
a Maryland limited partnership
By: Arden Realty, Inc.,
a Maryland corporation
Its: General Partner
By: /s/ Xxxxxx X. Xxxxxxx
----------------------------------
Its: President & COO
--------------------------------
SELLER: Activity Business Associates, LLC,
a California limited liability company
By: /s/ Xxxxxxx X. Xxxxxxxxx
----------------------------------
Xxxxxxx X. Xxxxxxxxx
Its: Vice President
2
