Sixth Amendment to Second Amended and Restated Agreement of Limited Partnership of Price Development Company, Limited Partnership

Summary

This amendment updates the partnership agreement for Price Development Company, Limited Partnership, managed by JP Realty, Inc. as general partner and various limited partners. The amendment replaces the existing schedules listing all partners, their ownership interests, and the obligated partners with their respective restoration amounts. All other terms of the original partnership agreement remain unchanged. The amendment is effective as of January 23, 2001.

EX-10.20 2 0002.txt SIXTH AMENDMENT TO SECOND AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF PRICE DEVELOPMENT COMPANY, LIMITED PARTNERSHIP SIXTH AMENDMENT TO THE SECOND AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF PRICE DEVELOPMENT COMPANY, LIMITED PARTNERSHIP (the "Partnership"), dated as of July 15, 1999 (the "Partnership Agreement"), by and among JP Realty, Inc., as general partner (the "General Partner"), and the Persons whose names are set forth on EXHIBIT A attached thereto and any other Persons who may have become partners in the Partnership as provided therein, as limited partners (the "Limited Partners"). Capitalized terms used but not otherwise defined in this Sixth Amendment shall have the same meanings ascribed to them in the Partnership Agreement. W I T N E S S E T H: WHEREAS, pursuant to Section 11.4.C of the Partnership Agreement, the General Partner has approved the restatement of the Schedule of Partners set forth on EXHIBIT A to the Partnership Agreement (the "Schedule of Partners") that reflects the current composition of the Partners of the Partnership; WHEREAS, pursuant to Section 14.1.D of the Partnership Agreement, the General Partner has approved the restatement of the Schedule of Obligated Partners set forth on EXHIBIT B to the Partnership Agreement (the "Schedule of Obligated Partners") that identifies each Obligated Partner of the Partnership and such Obligated Partner's respective Restoration Amount; and WHEREAS, pursuant to Section 4.2 of the Partnership Agreement, the General Partner is authorized to enter into this Sixth Amendment for purposes of amending the Partnership Agreement to include the Schedule of Partners and the Schedule of Obligated Partners attached hereto. NOW, THEREFORE, pursuant to Sections 4.2, 11.4.C and 14.1.D of the Partnership Agreement, the General Partner hereby amends the Partnership Agreement as follows: 1. SCHEDULE OF PARTNERS. The Schedule of Partners which is set forth on EXHIBIT A to the Partnership Agreement is hereby deleted in its entirety and replaced by the Schedule of Partners on EXHIBIT A attached to this Amendment. 2. SCHEDULE OF OBLIGATED PARTNERS. The Schedule of Obligated Partners which is set forth on EXHIBIT B to the Partnership Agreement is hereby deleted in its entirety and replaced by the Schedule of Obligated Partners on EXHIBIT B attached to this Amendment. 3. RATIFICATION. Except as expressly modified by this Amendment, all of the provisions of the Partnership Agreement are hereby affirmed and ratified and remain in full force and effect. NYA 329146.1 IN WITNESS WHEREOF, this Amendment has been duly executed by the General Partner on behalf of the Partnership and the admitted Limited Partner as of the day and year set forth below.
DATED: January 23, 2001 GENERAL PARTNER: J.P. REALTY, INC. By: /s/ G. Rex Frazier ------------------------ Name: G. Rex Frazier Title: President NYA 329146.1 EXHIBIT A --------- PARTNERS AND PARTNERSHIP INTERESTS ----------------------------------
Partnership Percentage Name of Partner Units Interest - ------------------------------------------------------------------------------- General Partner - --------------- JP Realty, Inc. 35 Century Park-Way Salt Lake City, Utah 84115 16,219,290 81.68727% LIMITED PARTNERS - ---------------- Boise Mall Investment Company, Ltd. 824,411 4.15208% Brown, Mike 125 0.00063% Butterworth, Jodi 150 0.00076% Bybee, Terry 320 0.00161% Cache Valley Mall Partnership, Ltd. 328,813 1.65604% Chandler, Harry 100 0.00050% Clauson, Pat 100 0.00050% Cloward, Burke 35,460 0.17859% Cordano, Alan 765 0.00385% Cordano, James 1,531 0.00771% Curtis, Greg 24 0.00012% East Ridge Partnership 100 0.00050% Enslow, Mike 320 0.00161% Fairfax Holding, LLC 786,226 3.95977% Frank, Alan 5,486 0.02763% Frazier, G. Rex 3,680 0.01853% Frei, Michael 6,817 0.03433% Gillette, Jerry 100 0.00050% Hall Investment Company 10,204 0.05139% Hansen, Kenneth 5,102 0.02570% JCP Realty, Inc. 350,460 1.76507% KFC Advertising 5,487 0.02763% Kelley, Chad 125 0.00063% Kelley, Paul 25 0.00013% King American Hospital, Ltd. 63,424 0.31943% King Provo, Ltd. 64,872 0.32672% King, Warren P. 6,244 0.03145% Mendenhall, Paul K. 214 0.00108% Mulkey, Tom 100 0.00050% North Plains Development Company, Ltd. 19,033 0.09586% North Plains Land Company, Ltd. 1,758 0.00885% Olson, Carl 1,894 0.00954% Orton, Byron 125 0.00063% Peterson, Martin G. 692 0.00349% Pine Ridge Development Company, Ltd. 77,641 0.39103% Pine Ridge Land Company, Ltd. 5,176 0.02607% Price, John 200 0.00101% Price, Steven 350 0.00176% EXHIBIT A --------- PARTNERS AND PARTNERSHIP INTERESTS ----------------------------------
Partnership Percentage Name of Partner Units Interest - ------------------------------------------------------------------------------- LIMITED PARTNERS (CONTINUED) - ---------------- Price 800 Company, Ltd. 156,615 0.78878% Price Commerce, Ltd. 63,423 0.31943% Price East Bay, Ltd. 37,157 0.18714% Price Eugene Bailey Company, Ltd. 17,497 0.08812% Price Fremont Company, Ltd. 166,315 0.83763% Price Glendale Company, Ltd. 3,935 0.01982% Price Orem Investment Company, Ltd. 66,747 0.33617% Price Plaza 800 Company, Ltd. 12,199 0.06144% Price Riverside Company, Ltd. 10,983 0.05532% Price Rock Springs Company, Ltd. 11,100 0.05590% Price Taywin Company, Ltd. 106,381 0.53578% Priet, Nettie 100 0.00050% Red Cliff Mall Investment Company 167,379 0.84299% Roebbelen Engineering 72,000 0.36262% Souvall, Sam 23,371 0.11771% Taycor Ltd. 35,462 0.17860% Tech Park II Company, Ltd. 4,929 0.02482% Vise, Phil 160 0.00081% Watcott, Keith 35,460 0.17859% Watkins, Gary 5,102 0.02570% Wilcher, Abe 5,306 0.02672% Wilcher, Lena 10,000 0.05036% YSP 16,787 0.08455% ------------ ----------- Total 19,855,352 100.00000% ------------ ----------- SSB Tax Advantaged Exchange Fund I REIT, INC. 510,000 100.00000%{1} ------------ ----------- Belcrest Realty Corporation 2,575,000 73.02632%{2} Belair Real Estate Corporation 1,225,000 26.97368%{2} ------------ ----------- 3,800,000 100.00000% ------------ ----------- SSB Tax Advantaged Exchange Fund III REIT, INC. 320,000 100.00000%{3} ------------ -----------
1. Represents all of the Series A Preferred Units issued by the Partnership. 2. Represents a percentage of the Series B Preferred Units issued by the Partnership. 3. Represents all of the Series C Preferred Units issued by the Partnership. NYA 329146.1 EXHIBIT B LIST OF OBLIGATED PARTNERS
Obligated Partner Restoration Amount - --------------------------------------- ------------------ Boise Mall Investment Co., Ltd. $ 10,431,599 Cache Valley Mall Partnership, Ltd. $ 2,904,771 Curtis, Greg $ 12,971 Fairfax Holding LLC $ 37,653,048 Frazier, G. Rex $ 433,980 Frei, Michael $ 196,483 James J. Cordano Jr. Children's Trust $ 500,000 JCP Realty, Inc. $ 2,499,998 King American Hospital, Ltd. $ 146,152 Price Eastbay, Ltd. $ 200,959 King, Warren P. $ 1,251,609 Mendenhall, Paul K. $ 20,005 North Plains Dev. Company, Ltd. $ 6,019,636 Olson, Carl $ 360,904 Peterson, Martin G. $ 357,433 Pine Ridge Development Co., Ltd. $ 18,497,363 Pine Ridge Land Company, Ltd. $ 512,354 Price Commerce, Ltd. (fka KP Associates, Ltd.) $ 146,152 Price Freemont Company, Ltd. $ 219,959 Price Glendale Company $ 4,201,870 Price Rock Springs Company, Ltd. $ 6,403,285 Price, John $ 9,326 Red Cliffs Mall Inv. Co., Ltd. $ 1,379,310
NYA 329146.1