Exhibit 10.50-1

 

FIRST AMENDMENT TO CONTRACT

 

This First Amendment to Contract (“Amendment”) is entered into by and among (i)
TOLL ROAD TEXAS LAND COMPANY, L.P., a Texas limited partnership (“TTLC”), (ii)
TOLLWAY 76, L.P., a Washington limited partnership (“T76”), and (iii) THE SMITH
& WOLLENSKY RESTAURANT GROUP, INC., a Delaware corporation (“Purchaser”).  TTLC
and T76 are hereinafter collectively referred to as the “Seller”.

 

R E C I T A L S :

 

A.            Purchaser and Seller have entered into that certain Contract of
Sale, dated on or about July 19, 2002 (the “Contract”) by which Purchaser agreed
to purchase certain improved real property from Seller.

 

B.            Purchaser made certain title objections pursuant to a letter (the
“Title Objection Letter”) from Seller’s counsel dated August 12, 2002.  Seller
responded to the Title Objection Letter pursuant to a letter (“Seller’s Cure
Letter”) from Seller dated August 22, 2002.  Pursuant to Article V of the
Contract, Purchaser has five days, until August 27, 2002, to respond to Seller’s
Cure Letter.  The parties desire to extend the time for Purchaser to respond to
item 5. (Title Commitment, Schedule B. Item 10) of Seller’s Cure Letter.

 

NOW, THEREFORE, IN CONSIDERATION OF THE PREMISES AND THE COVENANTS CONTAINED
HEREIN, THE PARTIES DO HEREBY AGREE AS FOLLOWS:

 

1.             Article V of the Contract is hereby amended so that Purchaser has
until September 13, 2002 to respond to item 5. (Title Commitment, Schedule B.
Item 10) of Seller’s Cure Letter.

 

2.             Capitalized terms which are not defined herein shall have the
same meaning as set forth in the Contract.  All provisions of the Contract shall
remain in full force and effect except as expressly modified herein.

 

 

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EXECUTED on this the 27th day of August, 2002.

 

 

 

 

 

SELLER:

 

 

 

 

 

 

 

TOLL ROAD TEXAS LAND COMPANY, L.P., a
Texas limited partnership

 

 

 

 

 

 

 

By:  Tollway Land Company, L.L.C., a Washington
limited liability company, its General Partner

 

 

 

 

 

 

 

By:

/s/ Calvin C. Chandler

 

 

 

Name:

Calvin C. Chandler

 

 

 

Its:

Manager

 

 

 

 

 

 

 

TOLLWAY 76, L.P., a Washington limited
partnership

 

 

 

 

 

 

 

By:  RAM International GP, LLC, a Washington
limited liability company, its General Partner

 

 

 

 

 

 

 

By:

/s/ Jeffery B. Iverson Jr.

 

 

 

Name:

Jeffery B. Iverson Jr.

 

 

 

Its:

Manager

 

 

 

 

 

 

 

 

EXECUTED on this the 27th day of August, 2002.

 

 

 

 

 

 

 

 

PURCHASER:

 

 

 

 

 

 

 

THE SMITH & WOLLENSKY RESTAURANT
GROUP, INC., a Delaware corporation

 

 

 

 

 

 

 

By:

/s/ James M. Dunn

 

 

 

Name:

James M. Dunn

 

 

 

Its:

President

 

 

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