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real est. /grand island rrm MEMORANDUM OF INSTALLMENT SALES AGREEMENT This Memorandum of Installment Sales Agreement is made as of the first day of July, 1985, by and between DAVID SPATZ ( "Seller ") and SPIRAL REALTY CORP., a Delaware corporation ( "Buyer "). W I T N E S S E T H: 1. For and in consideration of One Dollar ($1.00) and other good and valuable consideration paid and to be paid by Buyer to Seller and in further consideration of the agreements, covenants and conditions more particularly set forth in that certain Installment and Sales Agreement (the "Agreement ") between Seller and Buyer dated as of July 1, 1985, Seller has agreed to sell to Buyer its interest in that certain parcel of real property situated in Grand Island, Nebraska, as more particularly described on Exhibit "A" attached hereto and made a part hereof together with the buildings and other improvements located thereon and owned by Seller and all easements, tenements, appurtenances and fixtures owned by Seller located on such property, and all rights and privileges belonging to Seller respecting such property (the "Premises "). 2. The Agreement provides that the Closing Documents were executed and delivered in escrow and will be released from escrow at such time as the conditions contained within the Agreement have been satisfied (the "Transfer Date "). Prior to the Transfer Date, equitable title, possession, and control of the Premises will be vested in Buyer subject to the agreements, covenants, terms and conditions of the Agreement. 3. It is agreed that in the event the Agreement is amended or supplemented by written instrument executed by Seller and Buyer or shall be amended, assigned, or terminated in any manner permitted under the terms thereof, then without further act or instrument whatsoever, this Memorandum shall likewise, and to the same effect, be deemed to be amended, or terminated, as the case may be. 4. The address of the Seller for notification purposes under the Agreement is c/o Spatz & Company Management, 500 Skokie Boulevard, Northbrook, Illinois; the address of the Buyer for such purposes is 270 Madison Avenue, New York, New York 10016 with a copy to c/o Goldschmidt, Oshatz & Saft, 655 Madison Avenue, New York, New York 10021. 5. This Memorandum is executed in simplified short form for the convenience of the parties and for the purpose of recording the same in the Records of Hall County, Nebraska, and this Memorandum shall not in any way modify, supplement or abridge the Agreement or any of its provisions as the same are now or may hereafter be in full force and effect.