Letter Agreement Regarding Lease and Working Capital Loan Repayment between Continuum Care of Dedham, Inc. and CareMatrix of Dedham, Inc.

Contract Categories: Real Estate › Lease Agreements
Summary

This agreement, dated March 30, 1999, is between Continuum Care of Dedham, Inc. (landlord) and CareMatrix of Dedham, Inc. (tenant). It confirms that CareMatrix has paid $1,800,000 to Continuum Care, which was used to fully repay a working capital loan from The Chase Manhattan Bank related to the leased property. Both parties acknowledge CareMatrix's responsibility for all operating expenses under the lease, including this loan repayment.

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EX-10.182 33 0033.txt LETTER AGREEMENT CONTINUUM CARE OF DEDHAM, INC. 197 FIRST AVENUE, NEEDHAM, MASSACHUSETTS 02494 Exhibit 10.182 As of March 30, 1999 CareMatrix of Dedham, Inc. 197 First Avenue Needham, Massachusetts 02494 Re: Lease dated as of August 20, 1997, by and between Continuum Care of Dedham, Inc. ("Chancellor"), as landlord, and CareMatrix of Dedham, Inc. ("CareMatrix"), as tenant (the "Lease") Ladies and Gentlemen: This letter agreement is intended to confirm our understanding with respect to certain aspects of the above-referenced Lease, and to acknowledge the payment by you of certain amounts in connection therewith. Capitalized terms used herein and not defined herein shall have the meanings for such terms set forth in the Lease. CareMatrix and Chancellor hereby confirm and agree that in connection with our entering into the Lease, CareMatrix agreed to bear all expenses incurred in connection with the operation of the Leased Property, including, without limitation, that certain working capital loan from The Chase Manhattan Bank in the original principal amount of $1,800,000 (the "W/C Loan"). We hereby acknowledge that we have received from you today the sum of $1,800,000, which amount has been used by us to payoff and discharge in full all obligations under the W/C Loan. Please indicate your acknowledgement and agreement to the matters set forth herein by signing the enclosed counterpart of this letter where indicated and returning it to the undersigned. Very truly yours, CONTINUUM CARE OF DEDHAM, INC. By:/s/ Abraham D. Gosman ---------------------- Name: Title: hereunto duly authorized Acknowledged and agreed as of this 30th day of March, 1999 CAREMATRIX OF DEDHAM, INC. By:/s/ David B. Currie -------------------- Name: David B. Currie Title: VP hereunto duly authorized