Document:

January 10, 2000

Sent By Facsimile and Mail

Arthur Spinner
Spinner Asset Management Co.
650 Madison Avenue
New York, New York 10022

Dear Arthur:

Styleclick.com Inc.  ("Company") is attempting currently to negotiate additional
capital and debt financing ("Future  Transactions")  for further  development of
its strategic plans and business plans.  The flexibility the Company requires in
negotiating and structuring  agreements for Future Transactions is significantly
impeded by certain  provisions  of the April 7, 1999,  Securities  Purchase  and
Registration  Rights  Agreements (the "4/7/99 Company  Agreements") with Spinner
Asset  Management  Co.  ("Spinner"),  including the Company  Warrants and common
stock issued to Spinner thereafter.  Thus, the Company requests Spinner to waive
certain  provisions  of the  4/7/99  Company  Agreements,  in  order to free the
Company  to pursue  Future  Transactions,  which  the  Company  believes  are in
Company's best interests.

Spinner hereby  irrevocably  and forever waives and agrees to the termination of
its rights under the provisions of the 4/7/99 Company Agreements as described on
Schedule A . Notwithstanding the foregoing, the waivers effected hereby shall be
of no force and effect if, by June 30, 2000, a Future  Transactions has not been
announced and consummated.  Spinner would, if requested, confirm such waivers as
part of the formal documentation for any Future Transactions.

Please be aware that certain of the provisions of the 4/7/99 Company  Agreements
listed in Schedule A will expire by their terms on April 7, 2000,  in any event.
Those provisions are listed in Schedule A only to cover the eventuality that one
or more Future Transactions may be entered into (even if not consummated) before
April 7, 2000.  Nothing in this  letter  will  extend the  effectiveness  of any
provision beyond its stated term.

The Company  requests you to sign and return to the Company the enclosed copy of
this letter with attached  Schedule A to evidence your agreement to the terms of
this letter and Schedule A.

Very truly yours,
                                                    SPINNER ASSET MANAGEMENT CO.

/s/ Maurizio Vecchione                             By: /s/ Arthur Spinner
                                                      --------------------------
Maurizio Vecchione                                         Arthur Spinner
President and co-CEO
                                                 Date:     1/13/2000
                                                      --------------------------

ENC. Schedule A

                                   SCHEDULE A

Securities Purchase Agreement:
IV(3)
IV(5)
IV(6)
IV(10)
V(1)
V(3)

Warrants
3(c)
4(a)
4(e)

Registration Rights Agreement
2.1(d)
2.3
3.1
3.13
3.15
3.19
8AMENDED AND RESTATED OPERATING AGREEMENT
                              OF 2nd FAIRHAVEN, LLC

         As of this 25th day of January  2000,  the parties,  having  previously
formed a limited  liability company under the Maryland Limited Liability Company
Act (the "Act") have agreed to amend and  restate  the  Operating  Agreement  as
follows:

                                    RECITALS

         WHEREAS,  2nd Fairhaven,  LLC (the  "Company") was formed as a Maryland
limited liability company pursuant to an Operating  Agreement dated June 4, 1997
(the "Original Agreement") by and between Larry C. Porter and Carter C. Chinnis,
as the managing members  (collectively the "Managing Members"),  and an Articles
of Organization (the "Articles") was filed with the Maryland  Secretary of State
on June 4, 1997.

         WHEREAS, the Parties desire to amend and restate the Original Agreement
to provide for (i) the admission of WNC Housing Tax Credit Fund VI, L.P., Series
7, a California  limited  partnership,  as the investor  member and WNC Housing,
L.P. as the special investor member  (collectively the "Investor  Member"),  and
(ii) the rights and obligations of the Members. The Managing Member and Investor
Member may  collectively  be referred to as the Members or may  individually  be
referred to as a Members.

         NOW  THEREFORE,  in  consideration  of the mutual  agreements set forth
herein, it is agreed and certified that the Original Agreement is hereby amended
and restated in its entirety as follows:

1.       Name.    The name of the Company is 2nd Fairhaven, LLC (the "Company").

2.       Business. The Company has been organized for the following purposes:

         (a) To acquire the land and develop  eighteen (18) family housing units
located in Federalsburg, Maryland, and to finance, hold, own, maintain, improve,
lease, operate and if appropriate, sell or dispose of such (the "Project");

<PAGE>

         (b) To  perform  any  act  necessary or convenient to accomplish, or in
connection with, the foregoing purpose; and

         (c) To  engage  in  any  lawful  act  or  activity  for which a limited
liability  may be organized  under the laws of the State of Maryland.

3.       Principal Place of Business. The Company's principal  place of business
is at: 410 Market Street,  Denton,  Maryland 21629.

4.       Admission of Investor  Member. WNC  Housing  Tax Credit Fund VI,  L.P.,
Series  7,  a  California  limited  partnership  is  hereby   admitted   as  the
investor  member,  and WNC  Housing,  L.P.  is hereby  admitted  as the  special
investor member (collectively the "Investor Member" of the Company.

5.       Name, Address and Company Interest of Each Member: The names, addresses
and Company's  interests of the Managing  Member  and  Investor  Member  of  the
Company  (collectively  the  "Members") are as set forth on Exhibit "A" attached
hereto.

6.       Term.    The term of the Company shall  be from the  date hereof, until
dissolution, which shall be the earliest to occur of:

         (a)      December 31, 2035; or

         (b)      Upon the written consent or affirmative vote of the Investor
Member to dissolve and terminate the Company; or

         (c)      Upon the disposition of all interests in all Company assets;
or

         (d)      Upon the dissolution, bankruptcy, or insolvency of the
Managing Member or substitute Managing Member.

7.       Capital  Contributions. The  Members  have  contributed  or  agreed  to
contribute  the amounts  described on Exhibit "A" to the capital of the Company.

8.       Limitation  on Liability  of  Investor  Member.  The liability  of  the
Investor  Member  shall  be  limited  to  its  capital  contribution  stated  on
Exhibit  "A". The Investor  Member shall have no other  liability to  contribute
money to, or in respect of the  liabilities or  obligations of the Company,  nor
shall the  Investor  Member be  personally  liable  for any  obligations  of the
Company.  The  Investor  Member  shall not be obligated to make any loans to the
Company.

                                       2
<PAGE>

9.       Capital  Account  Maintenance.   For  all  purposes  of  this   Amended
Operating  Agreement  and  throughout  the  entire  term  of  the  Company,  (i)
capital  account  balances  shall be maintained in accordance  with the rules of
Section   1.704-1(b)(2)(iv)  of  the  Treasury  Regulations,   (ii)  liquidating
distributions  shall be made in  accordance  with the  requirements  of  Section
1.804-1(b)(2)(ii)(b)(2)  of the Treasury Regulations and (iii) the Company shall
comply   with   the   qualified   income   offset    requirements   of   Section
1.704-1(b)(2)(ii)(d) of the Treasury Regulations.

10.      Profits, Losses and Distributions. Company  profits and losses shall be
allocated and Company  distributions  shall be made to the Members in accordance
with their Company interests as set forth on Exhibit "A".

11.  Power and  Authority  of the Managing  Member.  The Managing  Member of the
Company shall have complete and exclusive control over the day-to-day management
of the  Company's  business and affairs,  and the Investor  Member shall have no
right to participate  in the management or conduct of the Company's  business or
affairs nor any power or authority to act for or on behalf of the Company in any
respect whatsoever.

12.      Limitation on the Managing Member's Power and Authority. The Managing
Member shall not do any of the following:

         (a)      Act in contravention of this Agreement or the Act;

         (b)      Act in any manner which would make it impossible to carry on
the ordinary business of the Company;

         (c)      Confess a judgment against the Company;

         (d)      Possess  Company  property,  or assign  rights in specific
Company property,  for other than the exclusive benefit of the Company, or
commingle the funds of the Company with the funds of any other person or entity;

         (e)      Admit a person or entity as a managing  member or as an
investor  member of the Company  without  the prior  written consent of the
Investor Member;

                                       3

<PAGE>

         (f)     Except in connection with the winding up of the Company,  sell,
transfer,  encumber,  or  exchange  in  a  single  transaction  or a  series  of
transactions substantially all of the assets acquired by the Company without the
prior written consent of the Investor Member; or

         (g)     Obligate the Company to any extraordinary or to any transaction
not in normal course of the day-to-day management and operation of the Company's
business as set forth in Section 2 hereof  without the prior written  consent of
the Investor Member.

13. Obligation of the Managing Member. The Managing Member shall be obligated to
provide to the Investor  Member on or before March 15, 2000,  all due  diligence
materials with respect to the Project and the Company reasonably required by the
Investor Member and its investors and  satisfactory in form and substance to the
Investor Member in its sole discretion.

14.  Removal of Investor  Member.  The Interest of the Investor  Member shall be
liquidated  upon the  Managing  Member's  payment to the  Investor  Member of an
amount equal to the capital  contribution stated on Exhibit "A" if, on or before
February 15, 2000, the Investor Member has not (i) executed a Second Amended and
Restated  Operating  Agreement (the "Amended  Agreement")  in a form  reasonably
satisfactory  to the  Investor  Member,  and (ii) paid to the Company an initial
Capital Contribution in such amount as shall be agreed to by the Managing Member
and the Investor  Member.  Notwithstanding  the foregoing,  the Managing  Member
shall not have the right to purchase the Investor Member's Interest if the delay
in executing the Second Amended Agreement and making a Capital  Contribution was
caused by the Managing  Member's failure to deliver the due diligence  documents
required by the Investor Member by March 15, 2000.

15.      Amendments.  This Agreement may be amended at any time by the written
consent or affirmative  vote of the Managing Member and the Investor Member.

16. Time of  Admission.  For all purposes of this  Agreement,  including but not
limited to Section 8, a Managing Member shall be deemed to have been admitted to
the  Company  as of the first day of the  month in which it  becomes a  Managing
Member;  provided,  however,  that an amendment to the Internal  Revenue Code of
1986, as amended (the "Code") is adopted or if Treasury  Regulations  are issued
which would  require,  in the opinion of the tax counsel to the Company,  that a
Managing  Member be deemed  admitted on a date other than as of the first day of
such month,  then the Managing  Member shall select a permitted  admission  date
which is most favorable to a majority-in interest of the Investor Member.

                                       4

<PAGE>

17.      Counterparts. This  Agreement may be  executed in several counterparts,
each  of  which  shall  be  deemed  to  be  an  original  copy and all of  which
together  shall  constitute  one  agreement   binding  on  all  parties  hereto,
notwithstanding that all parties shall not have signed the same counterpart.

         IN WITNESS  WHEREOF,  this Amended  Operating  Agreement  has been duly
executed by the parties hereto as of the date and year written above.

MANAGING MEMBER

/s/LARRY C. PORTER
Larry C. Porter

/s/CARTER C. CHINNIS
Carter C. Chinnis

INVESTOR MEMBER

WNC Housing Tax Credit Fund VI, L.P., Series 7,
a California limited partnership

         By:      WNC & Associates, Inc.,
                  General Partner

                  By:      /s/DAVID N. SHAFER
                           David N. Shafer,
                           Executive Vice President

SPECIAL INVESTOR MEMBER

WNC Housing, L.P.

By:      WNC & Associates, Inc.,
         General Partner

         By:      /s/DAVID N. SHAFER
                  David N. Shafer,
                  Executive Vice President

                                       5
<PAGE>

                                        A

                                   EXHIBIT "A"
                 TO THE AMENDED AND RESTATED OPERATING AGREEMENT
                              OF 2nd FAIRHAVEN, LLC

                                 Company                       Capital
Managing Member                  Interest                      Contribution
---------------                  --------                      ------------

Larry C. Porter                    .005%                       $    100.00
410 Market Street
Denton, Maryland 21629

Carter C. Chinnis                  .005%                       $    100.00
P.O. Box 499
Denton, Maryland 21629

Investor Member
---------------

WNC Housing Tax Credit            99.98%                       $359,815.00
Fund VI, L.P., Series 7
3158 Redhill Avenue
Suite 120
Costa Mesa, California 92626

Special Investor Member
-----------------------

WNC Housing, L.P.                   .01%                      $      36.00
3158 Redhill Avenue
Suite 120
Costa Mesa, California 92626

                                       A

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