FIRST AMENDMENT TO AGREEMENT OF SALE
THIS AGREEMENT (this "Agreement"), is entered into as of the 22nd day of
October, 1996, by and between COMMERCIAL VENTURES, INC., a Delaware corporation
("Purchaser"), and JONATHONS LANDING LIMITED PARTNERSHIP, an Illinois limited
partnership ("Seller").
RECITALS
A. Purchaser and Seller entered into an Agreement of Sale dated as of
August 30, 1996 (the "Agreement").
B. Purchaser and Seller desire to amend the Agreement. Terms defined in
the Agreement will have the same meaning when used herein.
NOW THEREFORE, Purchaser and Seller agree as follows:
1. The Purchase Price is changed to $21,300,000.
2. Purchaser acknowledges that all conditions to Purchaser's obligation
to purchase the Property in Sections 7.1 and 9 of the Agreement have been
satisfied or waived by Purchaser. The Xxxxxxx Money is non-refundable.
3. The Closing Date will be November 15, 1996.
4. Except as amended hereby, the Agreement will remain in full force and
effect and is ratified and confirmed.
IN WITNESS WHEREOF, the parties hereto have put their hand and seal as of
the date first set forth above.
PURCHASER:
COMMERCIAL VENTURES, INC., a Delaware corporation
By: /s/ Xxxxxxx X. Xxxxxx
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Name: Xxxxxxx X. Xxxxxx
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Its: President
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SELLER:
JONATHONS LANDING LIMITED PARTNERSHIP, an Illinois
limited partnership
By: Jonathons Landing, Inc., an Illinois corporation,
its general partner
By: /s/ Xxxxx X. Xxxxxxxxx
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Name: Xxxxx X. Xxxxxxxxx
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Its: Sr. VP
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