HomeMy WebLinkAbout1947 • ~T 1 G _
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AGREEMENT
THIS AGREEMENT made this a? ~ day of , 1979, by and be-
tween the following Parties• PIERCE FIELDS PLAZA, a joint
venture composed of: MELVIN F. SEMBLER, FRED A. BESHARA, ALBERT
L. DANGLER and NICHOLAS MANOS (hereinafter called "Landlord") and
MONTGOMERY WARD & CO., INCORPORATED, an Illinois corporation,
(hereinafter called "Ward").
WITNESSETH:
WHEREAS, Landlord did, on February 8, 1971, as Landlord, lease
the hereinafter described Premises to Food Fair Stores, Inc.,
(hereinafter called "Tenant") which Lease was modified on May 8,
1972 (said Lease Agreement and Lease Agreement Modification are
hereinafter collectively called "Lease").
WHEREAS, Tenant operated two stores on the Premises, to-wit:
a J.M. FIelds Store (which store is composed of 87,750 square
feet and is marked "J.M. Fields" on attached any incorporated
Exhibit "A") and a Pantry Pride Supermarket store (which store is
composed of 26,560 square feet and is marked "Pantry Pride" on
said Exhibit "A"). The J.M. Fields store is hereinafter called
"Fields Parcel" and the Pantry Pride store is hereinafter called
"Pantry Pride Parcel" and together they are hereinafter collec-
tively called Premises.
WHEREAS, Tenant has filed its petition under Chapter XI of the -
U.S. Bankruptcy Act in Case Nos: 78B-1764 through 78B-1773 in the
United States District Court, Southern District of New York, and
is desirous of assigning said Lease to Ward.
WHEREAS, Ward is desirous of accepting said Lease assignment from
Tenant for the purpose of operating a general merchandise depart-
ment store in the Fields Premises and of subletting the Pantry
Pride Parcel back to Tenant (or its subsidiary or affiliate) for
use as a supermarket grocery store.
WHEREAS, said Bankruptcy Court is in the process of transferring
Tenant's Lease by auction orbotherwise.
WHEREAS, Ward is desirous of bidding for said Lease and Premises
provided Landlord agrees to certain modifications of said Lease.
WHEREAS, subject to the approval of the Bankruptcy Court and pro-
vided Ward is the successful bidder for Tenant's interest in~said
Lease and Premises, Landlord and Ward hereby agree to amend and
supplement said Lease as hereinafter set forth, it being agreed
and understood that if Ward is not the successful bidder as afore-
said, this Agreement shall be null and void.
NOW, THEREFORE, in consideration of ~10.U0 and other good and
valuable consideration, by each of the Parties hereto to the
other in hand paid, receipt hereof is reciprocally acknowledged,
the Parties agree as follows:
800K321 PA~E1945
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