Letter Agreement Extending Due Diligence Period for 350 East Dundee Road Between Cole Taylor Bank and Arbor Acquisitions, Inc. (Nominee of DMCB, LLC)

Contract Categories: Business Finance › Modification Agreements
Summary

Cole Taylor Bank and Arbor Acquisitions, Inc., acting as nominee for DMCB, LLC, have agreed to extend the due diligence period for the purchase of the property at 350 East Dundee Road, Wheeling, Illinois. The new expiration date for due diligence is November 18, 2004, and the second earnest money deposit is due on November 19, 2004. All other terms of the original Master Agreement remain unchanged and in effect.

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EX-10.2 3 rrd69914_4042.htm LETTER AGREEMENT BY AND BETWEEN COLE TAYLOR BANK AND ARBOR ACQUISITIONS, INC, AS NOMINEE OF DMCB, LLC DATED NOVEMBER 12, 2004. November 12, 2004

 

Exhibit 10.2

 

 

November 12, 2004

Via Facsimile: 847 ###-###-####

DMCB, LLC

5135 Golf Road

Skokie, Illinois 60077

Attention: Mr. Lev Stratievski, Manager

Re: 350 East Dundee Road, Wheeling, Illinois (the "Property")

Dear Mr. Stratievski:

As you know, Cole Taylor Bank (the "Bank") and Arbor Acquisitions, Inc., an Illinois corporation, as nominee of DMCB, LLC, are parties to that certain Master Agreement relating to the Property (the "Master Agreement"), which Master Agreement has an Effective Date of September 28, 2004.

The Due Diligence Period described in the Master Agreement expires today, November 12, 2004. The purpose of this letter is to extend the expiration of the Due Diligence Period through next Thursday, November 18, 2004. Additionally, the second deposit of earnest money shall be due on November 19, 2004.

Except as specifically provided in this letter, the terms and conditions of the Master Agreement are hereby confirmed, ratified and approved in their entirety and shall continue in full force and effect.

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If you are in agreement with the terms of this letter, please countersign below and return a fully-executed letter to Tom Paar at 847 ###-###-####, with a copy to Ruth Schoenmeyer at 312 ###-###-####.

Regards,

Cole Taylor Bank,

an Illinois banking corporation

 

By:

/S/ THOMAS PAAR
 

Thomas Paar
 

Senior Vice President -- Corporate Services

Agreed to and accepted as of this 12th day of November, 2004.

Arbor Acquisitions, Inc., an Illinois corporation

 

By:

/S/ BORIS STRATIEVSKY

Name:

Boris Stratievsky

Its:

Vice President

cc: Ruth A. Schoenmeyer (via facsimile: 312 ###-###-####)

Phillip Grossman (via facsimile: 847 ###-###-####)