Amendment to Purchase Agreement between Burnham Pacific Properties, Inc. and Pacific Retail, L.P.

Summary

Burnham Pacific Properties, Inc. and Pacific Retail, L.P. have agreed to amend their existing Purchase Agreement dated August 29, 2001. This amendment extends the deadline for Burnham Pacific Properties, Inc. to finalize negotiations of the Redemption and Distribution Agreement related to the Carver Properties, changing the deadline from September 15, 2001, to September 22, 2001. Both parties have confirmed their acceptance of this new deadline by signing the amendment.

EX-10.2 4 a2066857zex-10_2.txt EXHIBIT 10.2 September 17, 2001 Pacific Retail, L.P. 5550 LBJ Freeway Suite 380 Dallas, TX 75240 RE: AMENDMENT TO PURCHASE AGREEMENT Dear Gentlemen: With reference to that certain Agreement for Purchase and Sale dated August 29, 2001 ("Purchase Agreement") by and between Burnham Pacific Properties, Inc. ("BPP") and Pacific Retail, L.P., this letter shall confirm our agreement regarding the extension of time for BPP to conclude its negotiation of the Redemption and Distribution Agreement relating to the Carver Properties (as such terms are defined in the Purchase Agreement). Section 2.7(b) of the Purchase Agreement is hereby amended to delete the two references to "September 15, 2001" in the fourth and sixth lines of that section and to insert "September 22, 2001" in place thereof in both instances. Please countersign this letter to confirm your agreement with the terms of this amendment to the Purchase Agreement Very truly yours, BURNHAM PACIFIC PROPERTIES, INC., a Maryland corporation By: /s/ Scott C. Verges --------------------------------- Scott C. Verges Its: President and CEO Pacific Retail, L.P. September 17, 2001 Page 2 Agreed to and Accepted: PACIFIC RETAIL, L.P., a Delaware limited partnership By: POB Pacific Retail Partner, Inc., a Delaware corporation a General Partner By: -------------------------------- Name: ----------------------------- Title: -------------------------- By: AP-GP POB IV LLC, a Delaware limited liability company a General Partner By: Kronus Property IV, Inc., a Delaware corporation By: -------------------------------- Name: ----------------------------- Title: -----------------------------