REIT Management Corp. 60 Cutter Mill Road Suite 303 Great Neck, NY 11021
EXHIBIT 10.1
REIT Management Corp.
60 Cutter Mill Road
Suite 303
Great Neck, NY 11021
June 2, 2011
BRT Realty Trust
60 Cutter Mill Road
Suite 303
Great Neck, NY 11021
BRT Torch Member, LLC
60 Cutter Mill Road
Suite 303
Great Neck, NY 11021
RE: Limited Liability Company Agreement of BRTL LLC
dated as of June 2, 2011 by and among BRTL LLC,
Debt Opportunity Fund III, LLC and
BRT Torch Member LLC (the “Agreement”)
Gentlemen:
For valuable consideration, receipt of which is hereby acknowledged, we hereby agree to indemnify and hold each of you harmless for amounts that you pay on our behalf pursuant to Section 7.06 and/or Section 9.13 of the Agreement. We further agree that any sums owed which we fail to promptly remit to you may be offset by any future sums due to REIT by BRT
| Very truly yours, |
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| REIT Management Corp. |
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| By: | /s/ David W. Kalish |
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| David W. Kalish, Senior Vice President |
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| Agreed and accepted by |
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| BRT Realty Trust |
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| By: | /s/ Mark H. Lundy |
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| Mark H. Lundy, Senior Vice President |
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| BRT Torch Member, LLC |
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| By: | /s/ Mark H. Lundy |
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| Mark H. Lundy, Senior Vice President |
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