FIRST AMENDMENT TO AGREEMENT

EX-10.1 2 exh101.htm LETTER AGREEMENT

Exhibit 10.1

  

 

 

 
 

 

 

 
 

 

 

 
 

 

 

 

 

 
 

 

 

 

 
 

FIRST AMENDMENT TO AGREEMENT

 

 

This FIRST AMENDMENT TO AGREEMENT (this "Amendment") is made and entered into as of the 31st day of July, 2014, by and between LAYTON POINTE, L.C., a Utah limited liability company ("Seller"), and INLAND REAL ESTATE ACQUISITIONS, INC., an Illinois corporation ("Purchaser").

 

Preliminary Statements:

 

The following Preliminary Statements are a material part of this Amendment:

A. Seller and Purchaser entered into that certain letter of intent agreement, dated as of June 24, 2014 attached hereto as Exhibit A and made a part hereof (the "Agreement"), relating to certain premises located in Layton, Utah as more particularly described in the Agreement (the “Property”).

B. Seller and Purchaser desire to amend the terms of the Agreement as set forth in this Amendment.

NOW, THEREFORE, for and in consideration of the covenants and premises contained in this Amendment, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by Seller and Purchaser, Seller and Purchaser agree as follows:

Agreements:

 

1. Closing Date. Notwithstanding anything to the contrary in the Agreement, including, but not limited to, Paragraphs 1 and 11 of the Agreement, the closing date shall be August 4, 2014.

 

2. Defined Terms. All undefined capitalized terms in this Amendment shall have the same meanings as in the Agreement, unless otherwise defined herein.

 

3. Counterparts. This Amendment may be executed in any number of counterparts, each of which shall be deemed an original. Facsimile or electronic (email) copies of the signature pages to this Amendment shall be deemed to be originals for all purposes of this Amendment.

 

4. Effect of Amendment. Except as specifically modified by this Amendment, all of the terms and conditions of the Agreement remain in full force and effect, and are hereby ratified and confirmed by Seller and Purchaser. Notwithstanding the foregoing, in the event there is any conflict between the terms and provisions of the Agreement and this Amendment, the terms and provisions of this Amendment shall control.

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5. Modifications. This Amendment and the Agreement cannot be modified in any manner other than by written modification executed by Seller and Purchaser.

 

6. Successors and Assigns. This Amendment is binding upon and inures to the benefit of Seller and Purchaser and their respective successors and assigns.

 

7. Representations and Warranties. Seller and Purchaser represent and warrant to each other respectively that they have the requisite power and authority to enter into this Amendment; that all necessary and appropriate approvals, authorizations and other steps have been taken to effect the legality of this Amendment; that the signatories executing this Amendment on behalf of Seller and Purchaser have been duly authorized and empowered to execute this Amendment on behalf of Seller and Purchaser, respectively; and that this Amendment is valid and shall be binding upon and enforceable against Seller and Purchaser and their respective successors and assigns and shall inure to the benefit of Seller and Purchaser and their respective successors and assigns.

 

[signature page follows]

 

 

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IN WITNESS WHEREOF, Seller and Purchaser have duly executed this Amendment as of the day and year first written above.

 

  Seller:
     
 

LAYTON POINTE, L.C., a Utah limited liability company,

Eagle Pointe Financial Group, Inc.

     
     
  By: /s/ Gary L. Howland
  Name: Gary L. Howland
  Its: CEO of Eagle Pointe Financial Group, Inc.
     
     
  Purchaser:
     
 

INLAND REAL ESTATE ACQUISITIONS, INC.

an Illinois corporation

     
     
  By: /s/ Lou Quilici
  Name: Lou Quilici
  Its: Authorized Representative

 

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EXHIBIT A

 

JUNE 24, 2014 LETTER AGREEMENT

 

(see attached)

 

 

 

 

 

 

 

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