First Amendment to the Purchase and Sale Agreement, between R.A. Wilson Enterprises, LLC and Freds Stores of Tennessee, Inc., dated as of October 29, 2019

Contract Categories: Business Finance - Purchase Agreements
EX-10.2 3 d775222dex102.htm EX-10.2 EX-10.2

DocuSign Envelope ID: B47FAA5C-286C-41E2-9D83-2AA3FC404888


Exhibit 10.2


THIS FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT (“Amendment”) is entered by and between R.A. Wilson Enterprises, Inc., an Arkansas corporation (“Buyer”), and Fred’s Stores of Tennessee, Inc., a Delaware corporation (“Seller”).


A. Seller and Buyer entered into that certain Purchase and Sale Agreement dated as of October 8, 2019 (the “Agreement”), with respect to the purchase and sale of that certain Property described therein.

B. The parties agree to amend the Agreement as hereinafter set forth.


NOW, THEREFORE, in consideration of the premises and mutual covenants and agreements contained herein, and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agrees as follows:

1. Terms. The foregoing recitals are true and correct and are incorporated herein by reference. Unless otherwise expressly defined herein, capitalized terms used herein shall have the meanings set forth in the Agreement.

2. Effective Date. This Amendment will be effective at the time of the last party to sign this Amendment between Seller and Buyer.

3. Purchase Price. Section 2(a) of the Agreement is hereby amended to delete the sum of Nine Million Five Hundred Thousand Dollars ($9,500,000) as the purchase price and substitute in lieu thereof the sum of Twenty-Two Million Three Hundred Thousand Dollars ($22,300,000) as the amended Purchase Price.

4. Exhibit A. Exhibit A as attached to the Agreement is hereby deleted in its entirety, and replaced with the Exhibit A as attached to this Amendment.

5. Conflict. In the case of any conflict between the terms of this Amendment and the provisions of the Agreement, the terms of this Amendment shall control.

6. Ratification. Subject to approval of the Bankruptcy Court, all terms and provisions of the Agreement, except as specifically modified herein, are hereby ratified and confirmed and shall remain in full force and effect.

7. Governing Law. The terms and provisions of this Amendment shall be governed by and construed in accordance with the same governing law provisions as set forth in Section 15 of the Agreement.




DocuSign Envelope ID: B47FAA5C-286C-41E2-9D83-2AA3FC404888


8. Successors and Assigns. This Amendment shall be binding on and shall inure to the benefit of the parties hereto and their respective successors and assigns.

9. Counterparts; Facsimile. This Amendment may be executed in any number of counterparts. Each of such counterparts shall, for all purposes, be deemed to be an original, and all such counterparts shall together constitute one and the same agreement. This Amendment may be executed by facsimile or e-mail of a PDF file, which shall have the same force and effect as original signatures.

[signature on following page]



DocuSign Envelope ID: B47FAA5C-286C-41E2-9D83-2AA3FC404888


IN WITNESS WHEREOF, the parties have executed this Amendment.


Fred’s Stores of Tennessee, Inc.     R.A. Wilson Enterprises, LLC
By:   /s/ Joe Anto     By:   /s/ R.A. Wilson
  Its Chief Executive Officer       Its Duly Authorized Officer
Date:   October 29, 2019     Date:   October 29, 2019




Exhibit A

Property Information









13210 N WINTZELL AVE    BAYOU LA BATRE    AL    36509
24 CAMDEN BYP    CAMDEN **    AL    36726
17916 HIGHWAY 280    DADEVILLE    AL    36853
2146 S OATES ST    DOTHAN    AL    36301
505NORTH MAIN STREET    OPP **    AL    36467
1302 HIGHWAY 64 E    AUGUSTA    AR    72006
611 HIGHWAY 65 S    DUMAS    AR    71639
1301 N ILLINOIS ST    HARRISBURG    AR    72432
6027 HIGHWAY 67    HASKELL **    AR    72015
110 N MAIN ST    MALVERN    AR    72104
103 DAWSON ST    MARKED TREE    AR    72365
601 N ST JOSEPH    MORRILTON    AR    72110
614 S MAIN ST    NASHVILLE    AR    71852
1705 MALCOLM AVE    NEWPORT    AR    72112
1324 W KEISER AVE    OSCEOLA    AR    72370
303 E MAIN ST    PIGGOTT    AR    72454
2809 S CAMDEN RD    PINE BLUFF    AR    71603
624 S ROCK ST    SHERIDAN    AR    72150
1110 E ANTIGO ST    STAMPS    AR    71860
606 E BROADWAY ST    WEST MEMPHIS    AR    72301
320 HIGHWAY 14 S    YELLVILLE    AR    72687
1718 S WAUKESHA ST    BONIFAY    FL    32425
726 N DOWNING    GLENNVILLE    GA    30427
204 E KELLY ST    SYLVESTER    GA    31791
603 E WASHINGTON ST    HAYTI    MO    63851
107 N MERIDIAN ST    ABERDEEN    MS    39730
441 N 4TH ST    BALDWYN    MS    38824
475 HIGHWAY 6 E    BATESVILLE    MS    38606
504 N 2ND ST    BOONEVILLE    MS    38829
229 N UNION ST    CANTON    MS    39046
300 S PEARL ST    CARTHAGE    MS    39051
456 HIGHWAY 24 E    CENTREVILLE    MS    39631
236 DESOTO AVE    CLARKSDALE    MS    38614
520 CENTRAL AVE    COLDWATER    MS    38618
237 WOODLAND DR    FOREST    MS    39074




813 W PARK AVE    GREENWOOD    MS    38930
148 W VAN DORN AVE    HOLLY SPRINGS    MS    38635
1618 DELAWARE AVE    MCCOMB    MS    39648
126 MAIN ST W    NEW ALBANY    MS    38652
7105 HIGHWAY 305 N    OLIVE BRANCH    MS    38654
109 DUNCAN ST    WATER VALLEY    MS    38965
515 E MAIN ST    WEST POINT    MS    39773
603 MIDDLETON RD    WINONA    MS    38967
1528 S LAFAYETTE ST    SHELBY    NC    28152
2404 WEST BLVD    CHESTERFIELD    SC    29709
518 E GREER ST    HONEA PATH    SC    29654
1755 DECHERD BLVD    DECHERD    TN    37324
2549 N CENTRAL AVE    HUMBOLDT    TN    38343
230 E GAY ST    LEBANON    TN    37087
16280 HWY 64    SOMERVILLE    TN    38068
2045 HWY 45 BYPASS    TRENTON    TN    38382
1405 S HOME ST    UNION CITY    TN    38261
1000 S MAIN ST    MC GREGOR    TX    76657
103 4TH AVE.    EASTMAN    GA    31023



There is a lease agreement with respect to these properties.