Extension Agreement to Waiver and Standstill Agreement among Berkshire Income Realty, Krupp Government Income Trust, and Krupp Government Income Trust II

Summary

This agreement, dated March 5, 2003, is between Berkshire Income Realty, Inc., Berkshire Income Realty-OP, L.P., Krupp Government Income Trust, and Krupp Government Income Trust II. It extends the expiration date of an exemption granted under a previous Waiver and Standstill Agreement from March 31, 2003, to June 30, 2003. All other terms of the original agreement remain unchanged. The parties confirm their acceptance by signing this document.

EX-10.5 5 j8987_ex10d5.htm EX-10.5

Exhibit 10.5

 

Berkshire Income Realty, Inc.

One Beacon Street, Suite 1500

Boston, Massachusetts  02108

 

March 5, 2003

 

 

Krupp Government Income Trust

Krupp Government Income Trust II

One Beacon Street

Boston, Massachusetts  02108

 

Gentlemen:

 

 

Reference is made to the Waiver and Standstill Agreement, dated as of August 22, 2002, by and among Krupp Government Income Trust (“GIT”), Krupp Government Income Trust II (“GIT II” and, collectively with GIT, the “Trusts”), Berkshire Income Realty, Inc. and Berkshire Income Realty-OP, L.P. (the “Waiver Agreement”).

 

This is to confirm our agreement that, notwithstanding the first sentence of Section 2.3 of the Waiver Agreement, the expiration date of the exemption granted by the Trusts in Section 2.1 of the Waiver Agreement is hereby extended from March 31, 2003 to June 30, 2003.  Except for the foregoing, all of the terms and conditions of the Waiver Agreement remain in full force and effect.

 

Kindly confirm the foregoing by signing below.

 

 

BERKSHIRE INCOME REALTY, INC.

 

 

 

 

 

 

By:

/s/ David C. Quade

 

 

 

Name: David C. Quade

 

 

 

Title: President

 

 

 

 

 

 

 

 

 

 

 

BERKSHIRE INCOME REALTY-OP, L.P.

 

 

by:

Berkshire Income Realty, Inc., its General Partner

 

By:

/s/ David C. Quade

 

 

 

Name: David C. Quade

 

 

 

Title: President

 

 

 

 

 

 

Acknowledged and agreed as of the date first above written:

 

 

 

 

 

 

 

 

 

 

KRUPP GOVERNMENT INCOME TRUST

 

 

 

 

 

 

By:

/s/ Douglas Krupp

 

 

 

Name: Douglas Krupp

 

 

 

Title: Chairman

 

 

 

 

 

 

 

KRUPP GOVERNMENT INCOME TRUST II

 

 

 

 

 

 

By:

/s/ Douglas Krupp

 

 

 

Name: Douglas Krupp

 

 

 

Title: Chairman