Exhibit 10(n)




 




FIRST AMENDMENT TO COMMERCIAL CONTRACT -

IMPROVED PROPERTY




 




This FIRST

AMENDMENT TO COMMERCIAL CONTRACT - IMPROVED PROPERTY (this “Amendment”) is made

as of May 6, 2003 by and between Haggar Clothing Co. (“Seller”) and PPM

Specialists, Ltd. (“Buyer”).




 




R E C I T A L S:




 




A.                                   Seller

and Buyer entered into that certain Commercial Contract - Improved Property

(the “Contract”) dated February 14, 2003 pertaining to certain property located

at 6113 Lemmon Avenue, Dallas, Texas (the “Property”).




 




B.                                     Buyer

desires to conduct certain testing of the Property for the presence of asbestos

and asbestos containing materials.




 




C.                                     Seller

and Buyer have agreed to modify the Contract to set forth the obligations of

the parties in connection with the asbestos testing.




 




NOW,

THEREFORE, for good and valuable consideration, the parties agree as follows:




 




1.                                       Capitalized

terms not otherwise defined herein shall have the meaning assigned such terms

in the Contract.




 




2.                                       The

next to the last sentence of Section 7B(2)(d) of the Contract (which sentence

begins “Notwithstanding the foregoing”) is deleted in its entirety.




 




3.                                       The

following are added as Sections 7B(2)(e) and (f) to the Contract:




 




(e)                                  Notwithstanding

the foregoing, Buyer’s indemnification obligations under this Section 7B(2)

shall not extend to or cover any claims, liabilities, causes of action or

expense arising out of the discovery of hazardous substances or materials, nor

shall it cover any diminution in the value of the Property as a consequence of

the results revealed by the Buyer’s tests and inspections.




 




(f)                                    The

following agreements shall apply to any sampling or testing of the Property for

asbestos or asbestos containing materials (collectively, “Asbestos”) conducted

on the Property by Buyer or its agents (“Asbestos Testing”):




 




(i)                                     Buyer

agrees to (x) conduct and perform all Asbestos Testing in complete compliance

with all applicable laws and regulations and (y) take prudent steps to protect

Seller’s employees during Buyer’s activities on the Property. Prior to

commencement of the Asbestos Testing, Buyer will




 




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obtain all

permits, licenses, and authorizations that may be required for the Asbestos

Testing to be performed.




 




(ii)                                  Buyer

shall be responsible for the proper and lawful disposal of all samples and

other materials generated by Buyer from the Property as a result of the

Asbestos Testing. Buyer shall remove and clean up any Asbestos released at the

Property, including inside any buildings or structures, and Buyer, not Seller,

will be identified as the generator on any hazardous waste or similar manifests

or shipment and disposal documents for any such materials generated by Buyer.




 




(iii)                               Buyer

shall enter the Property and perform the Asbestos Testing at its own risk,

subject to all existing surface and subsurface conditions and any conditions in

any buildings or structures on the Property. Buyer is solely responsible for

all costs and expenses incurred in performing the Asbestos Testing. In

furtherance but not limitation of the indemnity set forth above. Buyer agrees

to indemnify, defend and hold harmless Seller from and against any and all

claims of third parties (including, without limitation, employees of Seller)

for injury to persons or damage to their property resulting from the activities

of Buyer on the Property in connection with the Asbestos Testing, INCLUDING ANY AND ALL CLAIMS, LIABILITIES AND DAMAGES

ARISING AS A RESULT OF STRICT LIABILITY.




 




(iv)                              The

term Buyer as used in this Section 7B(2)(f) includes Buyer and any consultants,

agents and engineers performing the Asbestos Testing on behalf of Buyer.




 




(v)                                 All

of the Asbestos Testing shall be conducted in a timely manner after regular

business hours of Seller. Seller may have a representative or agent present at

all times during performance of the Asbestos Testing. Buyer shall coordinate

the timing of the Asbestos Testing with Seller in such regard.




 




(vi)                              Buyer

agrees to repair any physical damage to the buildings or fixtures or personal

property in the buildings caused by the Asbestos Testing within ten (10) days

after the conclusion of the Asbestos Testing, which repair shall include

texturing and repainting of any walls damaged by the Asbestos Testing.




 




4.                                       The

first sentence of Section 9A of the Contract is deleted and the following is

substituted in lieu thereof:




 




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The closing of

the sale will be on or before July 16, 2003 or within 7 days after objections

to title have been cured, whichever is later (the closing date).




 




5.                                       Notwithstanding

anything to the contrary contained in the Contract:




 




(a)                                  The

Seller’s Review Period shall end at 5:00 p.m., C.S.T., on June 2, 2003.




 




(b)                                 The

Inspection Period shall end at 5:00 p.m., C.S.T., on July 2, 2003.




 




6.                                       Except

as expressly amended hereby, the Contract remains unmodified and in full force

and effect.




 




7.                                       This

Amendment may be executed in any number of counterparts with the same effect as

if all parties hereto had signed the same document. All such counterparts shall

be construed together and shall constitute one instrument, but in making proof

hereof it shall only be necessary to produce one such counterpart.




 




 




	

   


  	

  HAGGAR

  CLOTHING CO.


  
	

   


  	

   


  
	

   


  	

   


  
	

   


  	

  By:


  	

     /s/

  Frank D. Bracken


  	

   


  
	

   


  	

   


  	

  Name:


  	

     Frank

  D. Bracken


  	

   


  
	

   


  	

   


  	

  Title:


  	

     President

  & Chief Operating Officer


  	

   


  
	

   


  	

   


  
	

   


  	

  PPM

  SPECIALISTS, LTD.


  
	

   


  	

   


  
	

   


  	

  By:


  	

  PPM

  Specialist of Texas, Inc., general partner


  
	

   


  	

   


  
	

   


  	

   


  
	

   


  	

   


  	

  By:


  	

   


  	

   


  
	

   


  	

   


  	

  Name:


  	

   


  	

   


  
	

   


  	

   


  	

  Title:


  	

   


  	

   


  
										





 




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