Document:

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                                                                   EXHIBIT 10.24

                      MASTER PROPERTY DISPOSITION AGREEMENT

         THIS MASTER PROPERTY DISPOSITION AGREEMENT (this "Agreement") is
effective as of September 30, 2003 (the "Effective Date") by and among LASALLE
BANK NATIONAL ASSOCIATION, as Indenture Trustee pursuant to that certain
Indenture dated as of November 1, 2000 ("LaSalle"), UNI-MARTS, INC., a Delaware
corporation ("Uni-Mart"), and UNI REALTY OF WILKES-BARRE, L.P., a Delaware
limited partnership ("Wilkes-Barre").

                             PRELIMINARY STATEMENTS:

         A.       Pursuant to a certain loan agreement and equipment loan
agreement (collectively, the "Loan Agreements"), various mortgage and equipment
loans (collectively, the "Loans") were made by FFCA Acquisition Corporation, a
Delaware corporation ("FFCA"), to Wilkes-Barre and Uni-Mart (sometimes
collectively, "Borrowers" and individually, a "Borrower"), respectively, with
respect to the land, buildings and/or equipment at certain properties owned or
leased by Borrowers (collectively, the "Properties"). The Loan Agreements, Loans
and the Properties relating thereto are described on Exhibit A attached hereto.
The Loans are evidenced by promissory notes (collectively, the "Notes") and are
secured by first priority liens on and security interests in the Properties
pursuant to mortgages, deeds of trust and/or equipment security agreements
(collectively, the "Mortgages"). The Loan Agreements, the Notes, the Mortgages
and all other loan documents executed in connection with the Loans are referred
to collectively as the "Loan Documents." Wilkes-Barre leased its Properties to
Uni-Mart pursuant to a master lease (the "Lease").

         B.       The Loans were assigned by FFCA to LaSalle. GE Capital
Franchise Finance Corporation, a Delaware corporation ("GECFF"), is the
successor by merger to FFCA and the servicer for the Loans (GECFF in such
capacity "Servicer").

         C.       Uni-Mart and Wilkes-Barre each have identified certain
under-performing Properties described on Exhibit B attached hereto
(collectively, the "Underperforming Properties" and individually, an
"Underperforming Property") which such Borrower would like to sell to third
parties and prepay the Loans corresponding to such Properties at the closing of
such sales (the "Disposition Plan").

         D.       Uni-Mart and Wilkes-Barre each desire to proceed with the
Disposition Plan and LaSalle is willing to do so but only under the terms and
conditions hereof.

                                   AGREEMENT:

         In consideration of the mutual covenants and provisions of this
Agreement, and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:

         1.       DEFINITIONS. Unless otherwise expressly provided herein, the
following terms shall have the following meanings for all purposes of this
Agreement:

         "Acceptable Financial Institution" means (i) Provident Bank on such
terms and conditions as LaSalle shall approve in its sole discretion, or (ii)
such other federally insured financial institution as may be reasonably
acceptable to LaSalle and each Borrower.

         "APA" means an asset purchase agreement entered into by one or more of
the Borrowers, as seller(s), and a qualified, independent third party, as
purchaser, with respect to the sale of one or more Underperforming Properties.

         "Borrower Collateral Unit" means all Collateral associated with a given
Borrower and Underperforming Property.

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         "Borrower Collateral Unit Excess Proceeds" means the amount by which
the Borrower Collateral Unit Net Proceeds for a given Borrower Collateral Unit
exceeds the Outstanding Loan Balance for the Loan associated with such Borrower
Collateral Unit.

         "Borrower Collateral Unit Net Proceeds" means gross sale proceeds
related to the sale of a given Borrower Collateral Unit (excluding in-store and
underground inventory sales proceeds and credits received at closing for such
Borrower's prepaid expenses and security deposits) less reasonable, ordinary and
necessary, third party, arms length equipment/operating lease payoffs and
transaction costs, all as approved in advance by LaSalle in writing.

         "Borrower Collateral Unit Shortfall" means the amount by which the
Outstanding Loan Balance for a given Loan exceeds the Borrower Collateral Unit
Net Proceeds for the Borrower Collateral Unit associated with such Loan.

         "Closing" means the closing of the sale of an Underperforming Property.

         "Closing Date" means the date of Closing.

         "Code" means the United States Bankruptcy Code, 11 U.S.C. Sec. 101 et
seq., as amended.

         "Collateral" means the land, improvements, furniture, fixtures,
equipment and other personal property and other collateral associated with
Underperforming Properties which are encumbered by mortgages and security
instruments in favor of LaSalle as of the Effective Date.

         "Crossed Collateral" means all Collateral relating to a given Borrower
which secures a Loan and obligations of one or more Borrowers not relating to
such Loan, as described more particularly in Section 5 hereof.

         "Cross-Collateralized Borrower Shortfall" means the amount by which the
aggregate Outstanding Loan Balance associated with all Crossed Collateral sold
by Uni-Mart during the Disposition Period exceeds the aggregate Borrower
Collateral Unit Net Proceeds associated with the same Crossed Collateral.

         "Cross-Collateralized Excess Proceeds" means the amount by which the
aggregate Borrower Collateral Unit Net Proceeds associated with all Crossed
Collateral sold by Uni-Mart during the Disposition Period exceeds the aggregate
Outstanding Loan Balance associated with the same Crossed Collateral as of their
respective Closing Dates.

         "Cross Escrow Account" means an escrow account established in the name
of "LaSalle Bank National Association, as Indenture Trustee (2000-1 Pool),
collateral account of Uni-Marts, Inc." in an Acceptable Financial Institution
with respect to those Loans made to Uni-Mart.

         "Cross Escrow Account Security Agreement" means the Account Security
Agreement to be entered into by Uni-Mart and Wilkes-Barre in favor of LaSalle
with respect to the Cross Escrow Account, as the same may be amended from time
to time.

         "Disposition Period" means the period ending upon the earlier to occur
of (a) October 31, 2004, and (b) the date upon which the Closing for all the
Underperforming Properties has occurred, as the same may be extended pursuant to
the last sentence of Section 2.A.

         "Junior Security Agreement" means the Account Security Agreement
(Subordinated) to be entered into by Uni-Mart in favor of Provident with respect
to the Cross Escrow Account, as the same may be amended from time to time.

         "LaSalle Master Property Disposition Agreement" means the Master
Property Disposition Agreement to be entered into as of the Effective Date
between LaSalle Bank National Association, as Indenture Trustee and Uni-Mart,
with respect to mortgage loans made to Uni-Mart in the 1999-1 securitized loan
pool.

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         "Loan Document Default" means an Event of Default as defined in any of
the Loan Documents, other than an Event of Default with respect to property
fixed charge coverage ratio covenants, corporate fixed charge coverage ratio
covenants or net worth covenants.

         "Non-Crossed Collateral" means Collateral which is not Crossed
Collateral.

         "Obligations" means the obligations of a given Borrower with respect to
its Loans, including but not limited to such Borrower's Notes and all other
obligations secured by such Borrower's Mortgages or other Loan Documents.

         "Other Master Property Disposition Agreements" means the LaSalle Master
Property Disposition Agreement and the WAMU Master Property Disposition
Agreement.

         "Outstanding Loan Balance" means the outstanding principal balance for
a given Loan at the time of the Closing of the sale of the Underperforming
Property to which such Loan relates, together with all unpaid interest (at the
contract rate set forth in the applicable Note) and other sums due and unpaid in
connection therewith, but excluding any prepayment premium or yield maintenance
premium.

         "Provident" means The Provident Bank, a bank chartered under the laws
of the State of Ohio.

         "Reduced Prepayment Premium" means an amount equal to 75% of the
prepayment premium which would otherwise be due and payable under the applicable
Loan Documents in connection with the prepayment of the applicable Loan or
Loans.

         "Shortfall Loan" means a $4,000,000 credit facility to be provided by
Provident to be used by Uni-Mart to either (x) fund its own Borrower Collateral
Unit Shortfalls, or (y) make capital contributions to Wilkes-Barre for
Wilkes-Barre to use to fund its own Borrower Collateral Unit Shortfalls. The
Shortfall Loan shall not be secured by (i) any collateral securing the Loans,
(ii) Borrower Collateral Unit Excess Proceeds which are required to be deposited
into the Cross Escrow Account or paid to LaSalle under this Agreement, or (iii)
any collateral or proceeds covered by the Other Master Property Disposition
Agreements (except to the extent otherwise expressly provided therein).

         "Shortfall Loan Agreement" means the Shortfall Loan Agreement to be
entered into by Uni-Mart, Uni-Marts of America, Inc. and Provident with respect
to the Shortfall Loan.

         "Subordination Agreement" means the Subordination Agreement to be
entered into by Provident and LaSalle with respect to the Junior Security
Agreement, which Subordination Agreement shall be in form and substance
acceptable to LaSalle, as the same may be amended from time to time.

         "Transaction Documents" means, collectively, this Agreement, the Cross
Escrow Account Security Agreement, the Subordination Agreement and all other
documents executed in connection with the transactions contemplated by this
Agreement.

         "Uni-Mart Equipment Collateral" means the furniture, equipment, trade
fixtures, appliances and other tangible personal property collateral for the
Loans made to Uni-Mart.

         "WAMU Master Property Disposition Agreement" means the Master Property
Disposition Agreement to be entered into as of the Effective Date among
Washington Mutual Bank, FA, Uni-Mart and Uni Realty of Luzerne, L.P.

         "Wilkes-Barre Mortgage Collateral" means the land, improvements,
fixtures and other collateral for the Loans made to Wilkes-Barre.

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         2.       DISPOSITION PLAN.

         A.       Undertaking to Sell. Each Borrower agrees to use its best
efforts to sell its Underperforming Properties as quickly as is reasonably
possible during the Disposition Period. With respect to each Underperforming
Property for which LaSalle holds both a mortgage and equipment Loan, the Closing
of the sale of the equipment relating to such Underperforming Property may only
occur simultaneously with the Closing of the sale of the real estate relating to
such Underperforming Property. If an APA has been executed during the
Disposition Period and LaSalle has received notice thereof as provided in clause
B below but Closing thereunder has been delayed beyond the Disposition Period,
LaSalle agrees to extend the Disposition Period as may be reasonably necessary
to accomplish such Closing, but not beyond November 30, 2004.

         B.       Notice. Borrowers shall notify LaSalle and Servicer in writing
of the prospective sale of any Underperforming Property by delivering to LaSalle
and Servicer (i) an executed APA, and (ii) an estimate of the Borrower
Collateral Unit Net Proceeds with respect to each Borrower Collateral Unit
relating to such Underperforming Property, including a breakdown of all expenses
used in its calculation, which estimate shall be subject to LaSalle's approval,
not to be unreasonably delayed, withheld or conditioned. If more than one
Underperforming Property is being sold pursuant to an APA, the APA shall provide
an allocation of the purchase price among all Underperforming Properties
included in the APA, such allocation to be subject to LaSalle's consent, not to
be unreasonably withheld. Each APA shall provide that the real estate at such
Underperforming Property is being sold by Wilkes-Barre and the equipment at such
Underperforming Property is being sold by Uni-Mart, with an allocation of the
purchase price between such real estate and equipment, such allocation to be
subject to LaSalle's consent, not to be unreasonably withheld.

         C.       Agreement to Release. During the Disposition Period, upon each
Closing LaSalle shall, provided no Loan Document Default has occurred and is
then continuing and the applicable Borrower(s) is in compliance with all of its
obligations under this Agreement, upon (i) the receipt of the aggregate,
applicable Outstanding Loan Balance for the Loan or Loans corresponding to the
Underperforming Property being sold, calculated as of the date of such Closing,
and (ii) any Borrower Collateral Unit Excess Proceeds being applied as described
under subsection E below, either (x) release its liens on the applicable
Underperforming Property on the applicable Closing Date or (y) provide on such
Closing Date to the title company handling the applicable Closing written
confirmation satisfactory to them that such liens will be released promptly
after such Closing Date, subject to the satisfaction of clauses (i) and (ii) of
this sentence (in which case, LaSalle shall release its liens promptly after
such Closing Date, subject to the satisfaction of clauses (i) and (ii) of this
sentence). LaSalle shall have no obligation to release any Mortgage or other
security interest or lien with respect to any Underperforming Property unless
and until it has received the payment required to be made pursuant to this
Section 2 at the Closing of the sale of such Underperforming Property. Upon the
Closing for each Underperforming Property which is the subject of the Lease,
Wilkes-Barre and Uni-Mart shall release such Underperforming Property from the
Lease and terminate the recorded memorandum of lease with respect to such
Underperforming Property, provided that, the rent payable under the Lease shall
not be reduced by reason of such release and termination, except as contemplated
by Section 11(a).

         D.       Borrower Collateral Unit Shortfall. Upon each Closing, the
aggregate, applicable Outstanding Loan Balance for the Loan or Loans
corresponding to the Underperforming Property being sold shall be paid to
LaSalle (from the Closing escrow in immediately available funds) and applied to
such Loan or Loans. Any Borrower Collateral Unit Shortfall shall be paid to
LaSalle by the respective Borrower on the Closing Date (i) first, for any
Crossed Collateral, from the Cross Escrow Account to the extent funds are
available in such account, and (ii) second, from the Shortfall Loan or other
funds of the applicable Borrower.

         E.       Borrower Collateral Unit Excess Proceeds. At each Closing,
Borrower Collateral Unit Excess Proceeds, if any, shall be calculated by the
applicable Borrower and LaSalle and shall be applied and paid:

         (i)      in the case of Non-Crossed Collateral,

                  FIRST, to LaSalle, in an amount up to the Reduced Prepayment
         Premium due with respect to the Loan or Loans relating to such
         Non-Crossed Collateral,

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                  SECOND, to Wilkes-Barre, to the extent that Wilkes-Barre has
         previously funded its own Borrower Collateral Unit Shortfalls from the
         proceeds of capital contributions made to Wilkes-Barre by Uni-Mart from
         the proceeds of the Shortfall Loan (in which case, Wilkes-Barre shall
         remit the amount received under this clause SECOND to Uni-Mart as a
         return of capital and Uni-Mart shall apply such amount to the Shortfall
         Loan), and

                  THIRD, (x) if no Loan Document Default has occurred and is
         then continuing and the applicable Borrower is in compliance with all
         of its obligations under this Agreement, to Wilkes-Barre, or (y) if a
         Loan Document Default has occurred and is then continuing or if the
         applicable Borrower is not in compliance with all of its obligations
         under this Agreement, to LaSalle to be applied toward the Obligations
         in such order, priority and proportions as LaSalle in its discretion
         shall deem proper or, in LaSalle's discretion, to cure the Loan
         Document Default;

         (ii) in the case of Crossed Collateral,

                  FIRST, to the Shortfall Loan, to the extent that Borrower
         Collateral Unit Shortfalls have previously been funded from the
         Shortfall Loan, and

                  SECOND, to the Cross Escrow Account.

         3.       CROSS ESCROW ACCOUNT. A. LaSalle shall have a valid and
perfected first priority security interest in the Cross Escrow Account pursuant
to the Cross Escrow Account Security Agreement. Such security interest shall
terminate and be of no force and effect upon the distribution to LaSalle of all
funds held in the Cross Escrow Account and required to be distributed to LaSalle
at the end of the Disposition Period (subject to the last sentence of Section
2.A) in accordance with the provisions of Section 3.B. Pursuant to the Cross
Escrow Account Security Agreement, Provident shall waive any banker's lien or
rights of set-off or recoupment it may have with respect to the Cross Escrow
Account. Any interest accruing during the Disposition Period on the funds on
deposit in the Cross Escrow Account shall be added to the funds on deposit in
the Cross Escrow Account and shall be disbursed in the same manner as such
funds.

         B.       At the end of the Disposition Period (subject to the last
sentence of Section 2.A), the remainder of the funds held in the Cross Escrow
Account shall be applied to payment of the amount of the Reduced Prepayment
Premium due with respect to the Loans relating to all of the Crossed Collateral
sold by Uni-Mart during the Disposition Period as contemplated by Section 4
below. The balance, if any, remaining after such payment shall be paid as
follows:

                  (w) if no Loan Document Default has occurred and is then
         continuing and the applicable Borrower is in compliance with its
         property fixed charge coverage ratio covenants contained in the Loan
         Documents and all of its obligations under this Agreement,

                           FIRST, to the Shortfall Loan, to the extent that
                  Borrower Collateral Unit Shortfalls have previously been
                  funded from the Shortfall Loan, and

                           SECOND, to Uni-Mart;

                  (x) if a Loan Document Default has occurred and is then
         continuing or the applicable Borrower is not in compliance with all of
         its obligations under this Agreement, to LaSalle to be applied toward
         the Obligations in such order, priority and proportions as LaSalle in
         its discretion shall deem proper or, in LaSalle's discretion, to cure
         the Loan Document Default;

                  (y) if no Loan Document Default has occurred and is then
         continuing and the applicable Borrower is in compliance with all of its
         obligations under this Agreement but is not in compliance with its
         property fixed charge coverage ratio covenants contained in the Loan
         Documents (tested for the 12 full months immediately preceding the end
         of the Disposition Period),

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                           FIRST, to LaSalle, in the amount necessary to cure
                  such non-compliance in accordance with the terms of Section
                  10.A(6) of the applicable mortgage Loan Agreement,

                           SECOND, if clause (z) below is applicable, in
                  accordance with such clause (z), or, if clause (z) below is
                  not applicable, to the Shortfall Loan, to the extent that
                  Borrower Collateral Unit Shortfalls have previously been
                  funded from the Shortfall Loan,

                           THIRD, to Uni-Mart; or

                  (z) if no Loan Document Default has occurred and is then
         continuing and the applicable Borrower is in compliance with all of its
         obligations under this Agreement but is not in compliance with its
         corporate fixed charge coverage ratio or net worth covenants contained
         in the Loan Documents (tested in the case of the corporate fixed charge
         coverage ratio for the 12 full months immediately preceding the end of
         the Disposition Period), to LaSalle, and, in LaSalle's discretion, such
         amount shall either be (i) applied toward the Obligations (other than
         prepayment premiums due with respect to the Loans relating to all of
         the Crossed Collateral sold by Uni-Mart during the Disposition Period,
         as to which the provisions of Section 4 and the first sentence of
         Section 3.B shall apply) in such order, priority and proportions as
         LaSalle in its discretion shall deem proper, (ii) pledged to LaSalle to
         secure such Obligations (either through an account security agreement
         or the purchase of a letter of credit), or (iii) remitted to Uni-Mart.

         4.       REDUCED PREPAYMENT PREMIUM. Upon the Closing of each sale of
Non-Crossed Collateral, Wilkes-Barre shall pay, to the extent of available
Borrower Collateral Unit Excess Proceeds, and LaSalle shall accept, an amount
equal to the Reduced Prepayment Premium due with respect to the Loan relating to
such Non-Crossed Collateral, in full satisfaction of the prepayment premium
payable under the Loan Documents with respect to such Non-Crossed Collateral.
With respect to Crossed Collateral, upon the conclusion of the Disposition
Period, Uni-Mart and LaSalle shall determine if the aggregate Borrower
Collateral Unit Net Proceeds from the sale of the Crossed Collateral exceeds the
aggregate Outstanding Loan Balance paid to LaSalle with respect to the Crossed
Collateral sold by Uni-Mart. Within 10 days after the expiration of the
Disposition Period, Cross-Collateralized Excess Proceeds with respect to the
Crossed Collateral sold by Uni-Mart, if any, up to an amount equal to the
Reduced Prepayment Premium due with respect to the Loans relating to all of the
Crossed Collateral sold by Uni-Mart during the Disposition Period, will be
released to LaSalle, to the extent available, from the Cross Escrow Account, and
accepted by LaSalle in full satisfaction of the aggregate prepayment premiums
payable under the Loan Documents with respect to the Crossed Collateral sold by
Uni-Mart.

         5.       CROSSED COLLATERAL. Uni-Mart and Wilkes-Barre acknowledge and
agree that:

                  (i) each Mortgage encumbering a Property corresponding to a
         mortgage Loan made to Wilkes-Barre only secures such mortgage Loan,
         and, consequently, the Wilkes-Barre Mortgage Collateral is Non-Crossed
         Collateral for purposes of the provisions of this Agreement; and

                  (ii) each equipment lien and security interest granted by
         Uni-Mart secures all mortgage and equipment Loans made to Uni-Mart or
         Wilkes-Barre, and consequently, all Uni-Mart Equipment Collateral is
         Crossed Collateral for purposes of the provisions of this Agreement.

         6.       CONDITIONS PRECEDENT. LaSalle's obligations under this
Agreement are subject to the fulfillment or waiver of each of the following
conditions:

                  A.       Shortfall Loan. LaSalle shall have received
         satisfactory evidence of the existence of the Shortfall Loan and
         LaSalle shall have received and approved the final versions of the loan
         documents relating thereto, which approval shall not be unreasonably
         withheld. The Shortfall Loan shall not be secured by (i) any collateral
         securing the Loans, (ii) Borrower Collateral Unit Excess Proceeds which
         are required to be deposited into the Cross Escrow Account or paid to
         LaSalle under this Agreement, or (iii) any collateral or proceeds
         covered by the Other Master Property Disposition Agreements (except to
         the extent otherwise expressly provided therein). Provident shall have
         agreed in writing not to commence, or join with any creditor other than
         LaSalle in the commencement of, or assist Wilkes-Barre in the

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         commencement of, any bankruptcy, insolvency, arrangement,
         reorganization, receivership, relief, or other similar case or
         proceeding involving Wilkes-Barre or substantially all of its assets,
         without LaSalle's prior written consent, which consent may be given or
         withheld in LaSalle's sole discretion.

                  B.       Cross Escrow Account. The Cross Escrow Account shall
         have been established and the Cross Escrow Account Security Agreement
         shall have been executed and delivered. Provident shall have executed
         and delivered an Acknowledgement and Consent to the Cross Escrow
         Account Security Agreement in the form attached thereto as Exhibit B.

                  C.       Estimated Proceeds. Borrowers shall have provided
         LaSalle with a calendar describing the timing of the projected sale of
         the Underperforming Properties, including, for each Borrower Collateral
         Unit, the estimated Borrower Collateral Unit Net Proceeds and Borrower
         Collateral Unit Shortfall or Borrower Collateral Unit Excess Proceeds,
         and, for each Borrower, the estimated aggregate Borrower Collateral
         Unit Shortfalls or Borrower Collateral Unit Net Proceeds.

                  D.       Payment of Costs and Expenses. Borrowers shall have
         paid all costs and expenses as contemplated by the terms of Section 14
         of this Agreement.

                  E.       Representations and Warranties. The representations
         and warranties of Borrowers contained in this Agreement and any other
         document or instrument expressly contemplated by this Agreement shall
         be true and correct in all respects as of the Effective Date.

                  F.       Other Master Property Disposition Agreements. The
         Other Master Property Disposition Agreements shall have been fully
         executed and delivered.

                  G.       Subordination Agreement. Provident shall have
         executed and delivered the Subordination Agreement.

         7.       REPRESENTATIONS AND WARRANTIES OF LASALLE. The representations
and warranties of LaSalle contained in this Section are being made by LaSalle as
of the Effective Date to induce Borrowers to enter into this Agreement and
consummate the transactions contemplated herein, and Borrowers have relied, and
will continue to rely, upon such representations and warranties from and after
the Effective Date. LaSalle represents and warrants to Borrowers as follows:

                  A.       Organization of Servicer. Servicer has been duly
formed, is validly existing and is in good standing under the laws of its state
of formation, and has taken all necessary action to authorize the execution,
delivery and performance by Servicer, on behalf of LaSalle, of this Agreement
and the other Transaction Documents to which it is a party.

                  B.       Authority of LaSalle. The person who has executed
this Agreement on behalf of LaSalle is duly authorized so to do.

                  C.       Enforceability. Upon execution by LaSalle, this
Agreement and the other Transaction Documents to which it is a party shall
constitute the legal, valid and binding obligations of LaSalle, enforceable
against LaSalle in accordance with their respective terms.

         All representations and warranties of LaSalle made in this Agreement
shall survive the execution and delivery of this Agreement.

         8. REPRESENTATIONS AND WARRANTIES OF BORROWERS. The representations and
warranties of Borrowers contained in this Section are being made by each of the
Borrowers as of the Effective Date to induce LaSalle to enter into this
Agreement and consummate the transactions contemplated herein, and LaSalle and
Servicer have relied, and will continue to rely, upon such representations and
warranties from and after the Effective Date. Each of the Borrowers represents
and warrants to LaSalle and Servicer as follows:

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                  A.       Organization and Authority of Borrowers. Each of the
         Borrowers is duly organized, validly existing and in good standing
         under the laws of its state of incorporation or formation and qualified
         to do business in any jurisdiction where such qualification is
         required. All necessary corporate or limited partnership action has
         been taken to authorize the execution, delivery and performance of this
         Agreement and the other Transaction Documents to which it is a party.
         None of the Borrowers is a "foreign corporation", "foreign
         partnership", "foreign trust", "foreign limited liability company" or
         "foreign estate", as those terms are defined in the Internal Revenue
         Code and the regulations promulgated thereunder. The person who has
         executed this Agreement on behalf of each of the Borrowers is duly
         authorized so to do.

                  B.       Enforceability of Transaction Documents. Upon
         execution by each of the Borrowers, this Agreement and the other
         Transaction Documents to which it is a party shall constitute the
         legal, valid and binding obligations of each of the Borrowers, as
         applicable, enforceable against each of the Borrowers, as applicable,
         in accordance with their respective terms.

                  C.       Enforceability of Loan Documents and Lease. Each of
         the Loan Documents to which it is a party and the Lease constitutes its
         legal, valid and binding obligation, enforceable against it in
         accordance with its respective terms. Without limiting the generality
         of the foregoing, the cross-collateralization provisions in each of the
         Loan Documents are legal, valid and binding obligations, enforceable in
         accordance with their respective terms.

                  D.       First Priority Liens. Each of the mortgage Loans to
         which it is a party is secured by a first priority mortgage lien
         against the real estate at the corresponding Property and each of the
         equipment Loans to which it is a party is secured by a first priority
         lien against and security interest in the equipment at the
         corresponding Property.

                  E.       Litigation. There are no suits, actions, proceedings
         or investigations pending, or to the best of its knowledge, threatened
         against or involving any of the Borrowers or any of the Properties
         before any arbitrator or governmental authority which might reasonably
         result in any material adverse change in the contemplated business,
         condition, worth or operations of any of the Borrowers or any of the
         Properties.

                  F.       Absence of Breaches or Defaults. No Loan Document
         Default has occurred and is continuing and the Borrowers are not in
         default in any material respect under any other document, instrument or
         agreement to which it, any of the Properties or any of its property is
         subject or bound. The authorization, execution, delivery and
         performance of this Agreement and the other Transaction Documents will
         not result in any breach of or default under any other document,
         instrument or agreement to which any of the Borrowers is a party or by
         which any of the Borrowers, any of the Properties or any of the
         property of any of the Borrowers is subject or bound.

                  G.       Shortfall Loan. Uni-Mart has satisfied all conditions
         precedent to the issuance of the Shortfall Loan, including, without
         limitation, paying all fees required to be paid as a condition to the
         issuance of the Shortfall Loan.

         All representations and warranties of the Borrowers made in this
Agreement shall survive the execution and delivery of this Agreement.

         9.       ACKNOWLEDGEMENTS. A. Each of the Borrowers acknowledges and
agrees that:

                  (i)      except as otherwise permitted in the Loan Documents,
         it will keep each Underperforming Property open and operating in a
         manner substantially similar to past operations until such time as it
         is sold and the aggregate Outstanding Loan Balance corresponding to
         such Underperforming Property has been paid;

                  (ii)     it will make all payments required under the terms of
         its Loans, and, except as otherwise expressly provided in this
         Agreement, it will comply with all of its other obligations under the
         terms of the Loan Documents governing such Loans;

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                  (iii)    except as otherwise expressly provided for in this
         Agreement, the Loan Documents are not modified or amended by this
         Agreement and shall remain in full force and effect and this Agreement
         shall not constitute a waiver of any rights or remedies in respect of
         the Loan Documents. Without limiting the generality of the foregoing,
         each of the Borrowers acknowledges and agrees that the provisions of
         this Agreement shall only apply to those Underperforming Properties for
         which a Closing has occurred during the Disposition Period (subject to
         the last sentence of Section 2.A);

                  (iv)     except as otherwise expressly provided for in this
         Agreement, the Loan Documents and all rights, title, interest, liens,
         powers and privileges by virtue thereof (including, without limitation,
         any cross-collateralization provisions contained therein) are hereby
         reaffirmed, ratified, renewed and extended and shall be and continue to
         be in full force and effect to secure the payment of the indebtedness
         evidenced by the Loan Documents and any and all restatements, renewals,
         modifications, amendments, increases and/or extensions thereof;

                  (v)      except as otherwise expressly provided for in this
         Agreement, no payment, discharge or release of any liens or collateral
         securing the Loan Documents is intended hereby and all liens on all
         such collateral shall continue in full force and effect from the date
         of their execution and perfection and unimpaired by anything contained
         in this Agreement;

                  (vi)     it has no defenses, offsets or counterclaims with
         respect to the performance of its obligations under the Loan Documents
         to which it is a party, as modified by this Agreement;

                  (vii)    Section 5 of this Agreement is a true, accurate and
         complete description of the extent to which the Loans and the
         Properties are cross-collateralized;

                  (viii)   LaSalle's agreement to release liens in accordance
         with the provisions of Section 2 only applies to liens against
         Underperforming Properties for which the Closing occurs during the
         Disposition Period (subject to the last sentence of Section 2.A). This
         Agreement does not create any obligation on the part of LaSalle to
         release liens against (x) Properties which are not Underperforming
         Properties, or (y) Underperforming Properties for which the Closing
         occurs after the end of the Disposition Period (subject to the last
         sentence of Section 2.A), except as may be required pursuant to the
         Loan Documents;

                  (ix)     Wilkes-Barre was created and remains a special
         purpose bankruptcy remote entity consistent with its representations
         and covenants contained in its Loan Agreement with respect thereto;

                  (x)      at the time of the origination of each of the Loans
         to Wilkes-Barre, the fair market value of the Properties securing such
         Loans equaled or exceeded the corresponding amount of such Loans; and

                  (xi)     as a special purpose, bankruptcy remote entity,
         Wilkes-Barre does not have creditors other than LaSalle, various
         property tax authorities and any other creditors expressly permitted by
         the terms of its Loan Agreement.

Wilkes-Barre acknowledges the "Nonconsolidation" covenants set forth in the Loan
Documents to which it is a party and acknowledges its obligations to comply with
and abide by such covenants, and LaSalle shall not assert that any provision in
this Agreement constitutes a violation of such covenants by Wilkes-Barre.

         B.       Uni-Mart acknowledges and agrees that:

                  (i)      it will make all payments required under the terms of
         the Lease and will comply with all of its other obligations under the
         terms of the Lease without any rent reduction for any sale of a
         Property pursuant to the Disposition Plan;

                  (ii)     except as otherwise expressly provided for in this
         Agreement, the Lease is not modified or amended by this Agreement and
         shall remain in full force and effect and this Agreement shall not
         constitute a waiver of any rights or remedies in respect of the Lease;

                                       9
<PAGE>

                  (iii)    except as otherwise expressly provided for in this
         Agreement, the Lease and all rights, title, interest, liens, powers and
         privileges by virtue thereof are hereby reaffirmed, ratified, renewed
         and extended and shall be and continue to be in full force and effect,
         including any and all restatements, renewals, modifications, amendments
         and/or extensions thereof;

                  (iv)     except as otherwise expressly provided for in this
         Agreement, no payment, discharge or release of any liens or collateral
         securing the Lease is intended hereby and all liens on all such
         collateral shall continue in full force and effect, unimpaired from the
         date of their execution and perfection;

                  (v)      it has no defenses, offsets or counterclaims with
         respect to the performance of its obligations under the Lease;

                  (vi)     the Lease constitutes a single master lease of all,
         but not less than all, of the Properties subject to the Lease and
         Wilkes-Barre executed and delivered the Lease with the understanding
         that the Lease constitutes a unitary, unseverable instrument pertaining
         to all, but not less than all, of the Properties subject to the Lease,
         and that neither the Lease nor the duties, obligations or rights of
         Uni-Mart, as tenant, may be allocated or otherwise divided among such
         Properties by Uni-Mart; and

                  (vii)    the business relationship created by the Lease and
         any related documents is solely that of a long-term commercial lease
         between landlord and tenant and has been entered into by both parties
         in reliance upon the economic and legal bargains contained herein.

Uni-Mart acknowledges the "Nonconsolidation" covenants set forth in the Lease
and acknowledges its obligations to comply with and abide by such covenants, and
LaSalle shall not assert that any provision in this Agreement constitutes a
violation of such covenants by Uni-Mart.

         10.      FORBEARANCE. During the Disposition Period, LaSalle shall
forbear and refrain from enforcing any property fixed charge coverage ratio
covenants, corporate fixed charge coverage ratio covenants or net worth
covenants contained in the Loan Documents; provided that, such agreement to
forbear and refrain (i) shall immediately, without notice to any of the
Borrowers, or an opportunity to cure, terminate upon the occurrence of a Loan
Document Default or the occurrence of a breach or default by any of the
Borrowers under this Agreement, (ii) shall not limit LaSalle's right under
Section 3.B to receive from the Cross Escrow Account the amount necessary to
cure any non-compliance by Uni-Mart at the end of the Disposition Period with
its property fixed charge coverage ratio covenants contained in the Loan
Documents (tested for the 12 full months immediately preceding the end of the
Disposition Period) in accordance with the terms of Section 10.A(6) of the
applicable mortgage Loan Agreement, (iii) shall not be deemed to waive any other
default that may occur under the Loan Documents, and (iv) shall terminate at the
end of the Disposition Period (subject to Section 11(b)).

         11.      POST DISPOSITION PERIOD AMENDMENTS. (a) Promptly after the end
of the Disposition Period, Wilkes-Barre and Uni-Mart shall enter into an
amendment to the Lease to reduce the base annual rental payable thereunder to an
amount to be negotiated by the parties in good faith based on the Properties
then remaining in the Lease, the annual debt service payments then due under the
Notes with respect to such Properties, and appropriate gross ups to such debt
service payments to take into account potential increases in the variable
interest rate relating to such Notes. LaSalle's prior written consent shall be
required with respect to such amendment, which consent shall not be unreasonably
withheld, delayed or conditioned by LaSalle.

         (b)      Promptly after the end of the Disposition Period, Uni-Mart and
LaSalle shall negotiate in good faith an amendment to Uni-Mart's Loan Agreements
to revise the minimum net worth covenant contained therein to an appropriate
dollar amount based on the properties and assets then owned by Uni-Mart (after
the sale of the properties to be sold pursuant to this Agreement and the Other
Master Property Disposition Agreements) and its then capital structure.

         12.      DEFAULT AND REMEDIES. Each of the following shall be deemed an
event of default by the Borrowers under this Agreement (each, an "Event of
Default"):

                                       10
<PAGE>

                  (i)      If any representation or warranty of any of the
         Borrowers set forth in this Agreement or any of the Transaction
         Documents is false in any material respect or if any of the Borrowers
         renders any written statement or account which is false in any material
         respect;

                  (ii)     If any of the Borrowers fails to keep or perform any
         of the other covenants, conditions, or obligations of this Agreement
         beyond the expiration of all applicable notice and cure or grace
         periods set forth in this Agreement;

                  (iii)    If any of the Borrowers is or becomes insolvent
         within the meaning of the Code, files or notifies LaSalle that it
         intends to file a petition under the Code, initiates a proceeding under
         any similar law or statute relating to bankruptcy, insolvency,
         reorganization, winding up or adjustment of debts (each, an "Action"),
         becomes the subject of either a petition under the Code or an Action,
         or is not generally paying its debts as the same become due;

                  (iv)     If a Loan Document Default shall occur and be
         continuing; or

                  (v)      If there is a breach or default under the Shortfall
         Loan which continues beyond the expiration of all applicable notice and
         cure or grace periods.

Upon the occurrence of an Event of Default, LaSalle may exercise, at its option,
concurrently, successively or in any combination, all remedies available at law
or in equity. A breach or default by any Borrower under this Agreement shall be
deemed an "Event of Default" under the Loan Documents to which such Borrower is
a party.

         13.      SHORTFALL LOAN. (a) Uni-Mart shall not amend or modify any of
the provisions of the Shortfall Loan Agreement or the Junior Security Agreement
without providing at least fifteen (15) calendar days' prior written notice to
LaSalle and obtaining LaSalle's prior written consent.

         (b)      Uni-Mart has informed LaSalle that, under the Shortfall Loan
Agreement, the aggregate maximum principal amount outstanding under the
Shortfall Loan and any other revolving credit loans that Provident has agreed to
make to Uni-Mart (the "Existing Revolvers") may not exceed $15,000,000. In order
for the full $4,000,000 Shortfall Loan to be available to Uni-Mart, Uni-Mart
covenants and agrees that the maximum principal amount outstanding under the
Existing Revolvers shall not exceed $11,000,000.

         14.      COSTS AND EXPENSES. All out-of-pocket third-party costs and
expenses of this Agreement and the transactions contemplated by this Agreement
and any other activity contemplated by this Agreement shall be paid by Borrowers
within ten (10) days of written demand therefor, including, without limitation,
recording and filing fees, the actual and reasonable attorneys' fees and
expenses of Servicer and/or LaSalle and the attorneys' fees and expenses of
Borrowers, and escrow fees. In addition, Borrowers shall pay any document
preparation fee customarily charged by Servicer with respect to releases of the
liens held by LaSalle against each Underperforming Property sold during the
Disposition Period.

         15.      INDEMNITY. Each Borrower agrees to indemnify, hold harmless
and defend LaSalle, Servicer and their respective directors, officers,
shareholders, employees, successors, assigns, agents, contractors,
subcontractors, experts, licensees, affiliates, lessees, servicers, mortgagees,
trustees and invitees, as applicable, from and against any and all losses,
costs, claims, liabilities, damages and expenses arising as a result of a breach
of any of the representations, warranties, covenants, agreements or conditions
of such Borrower set forth in this Agreement.

         16.      MISCELLANEOUS PROVISIONS.

                  A.       Notices. All notices, consents, approvals or other
         instruments required or permitted to be given by either party pursuant
         to this Agreement shall be in writing and given by (i) hand delivery,
         (ii) facsimile, (iii) express overnight delivery service or (iv)
         certified or registered mail, return receipt requested, and shall be
         deemed to have been delivered upon (a) receipt, if hand delivered, (b)
         transmission, if delivered by facsimile, (c) the next business day, if
         delivered by express overnight delivery service, or (d) the third
         business day following the day of deposit of such notice with the
         United States Postal Service, if sent by certified or

                                       11
<PAGE>

         registered mail, return receipt requested. Notices shall be provided to
         the parties and addresses (or facsimile numbers, as applicable)
         specified below:

                  If to Uni-Mart:            N. Gregory Petrick
                                             Executive Vice President
                                             Uni-Marts, Inc.
                                             477 East Beaver Avenue
                                             State College, PA  16801-5690
                                             Telephone: (814) 234-6000
                                             Telecopy: (814) 234-3277

                  If to Wilkes-Barre:        N. Gregory Petrick
                                             Treasurer
                                             Uni Realty of Wilkes-Barre, L.P.
                                             477 East Beaver Avenue
                                             State College, PA  16801-5690
                                             Telephone: (814) 234-6000
                                             Telecopy: (814) 234-3277

                  If to LaSalle or Servicer: c/o Dennis L. Ruben, Esq.
                                             Executive Vice President,
                                             General Counsel and Secretary
                                             GE Capital Franchise Finance
                                             Corporation
                                             17207 North Perimeter Drive
                                             Scottsdale, AZ  85255
                                             Telephone: (480) 585-4500
                                             Telecopy: (480) 585-2226

                  B.       Real Estate Commission. LaSalle and the Borrowers
         represent and warrant to each other that they have dealt with no real
         estate broker, agent, finder or other intermediary in connection with
         the transactions contemplated by this Agreement except Trefethen &
         Company and other brokers that have been or may be retained by
         Borrowers with respect to the sale of Underperforming Properties, all
         of whose fees shall be paid by Borrowers. LaSalle and the Borrowers
         shall indemnify and hold each other harmless from and against any
         costs, claims or expenses, including attorneys' fees, arising out of
         the breach of their respective representations and warranties contained
         within this Section.

                  C.       Waiver and Amendment. No provisions of this Agreement
         shall be deemed waived or amended except by a written instrument
         unambiguously setting forth the matter waived or amended and signed by
         the party against which enforcement of such waiver or amendment is
         sought. Waiver of any matter shall not be deemed a waiver of the same
         or any other matter on any future occasion.

                  D.       Captions. Captions are used throughout this Agreement
         for convenience of reference only and shall not be considered in any
         manner in the construction or interpretation hereof.

                  E.       Liability of LaSalle and Servicer. Notwithstanding
         anything to the contrary provided in this Agreement, it is specifically
         understood and agreed, such agreement being a primary consideration for
         the execution of this Agreement by LaSalle, that (i) there shall be
         absolutely no personal liability on the part of any shareholder,
         director, officer or employee of LaSalle or Servicer, with respect to
         any of the terms, covenants and conditions of this Agreement or the
         other Transaction Documents, (ii) each of the Borrowers waives all
         claims, demands and causes of action against the officers, directors,
         employees and agents of LaSalle or Servicer in the event of any breach
         by LaSalle of any of the terms, covenants and conditions of this
         Agreement or the other Transaction Documents to be performed by
         LaSalle, and (iii) each of the Borrowers shall look solely to the
         assets of LaSalle for the satisfaction of each and every remedy of the
         Borrowers in the event of any breach by LaSalle of any of the terms,
         covenants and conditions of this Agreement or the other Transaction
         Documents to be performed by LaSalle, such exculpation of liability to
         be absolute and without any exception whatsoever.

                                       12
<PAGE>

                  F.       Severability. The provisions of this Agreement shall
         be deemed severable. If any part of this Agreement shall be held
         unenforceable, the remainder shall remain in full force and effect, and
         such unenforceable provision shall be reformed by such court so as to
         give maximum legal effect to the intention of the parties as expressed
         therein.

                  G.       Construction Generally. This is an agreement between
         parties who are experienced in sophisticated and complex matters
         similar to the transaction contemplated by this Agreement and is
         entered into by all parties in reliance upon the economic and legal
         bargains contained herein and shall be interpreted and construed in a
         fair and impartial manner without regard to such factors as the party
         which prepared the instrument, the relative bargaining powers of the
         parties or the domicile of any party. Each of the parties was
         represented by legal counsel competent in advising them of their
         obligations and liabilities hereunder.

                  H.       Other Documents; Time is of the Essence. Each of the
         parties agrees to sign such other and further documents as may be
         reasonably necessary to carry out the intentions expressed in this
         Agreement. Time is of the essence in the performance of each obligation
         under this Agreement.

                  I.       Attorneys' Fees. In the event of any judicial or
         other adversarial proceeding between the parties concerning this
         Agreement, the prevailing party shall be entitled to recover its
         attorneys' fees and other costs in addition to any other relief to
         which it may be entitled.

                  J.       Entire Agreement. This Agreement and the other
         Transaction Documents, together with any other certificates,
         instruments or agreements to be delivered in connection therewith,
         constitute the entire agreement between the parties with respect to the
         subject matter hereof, and there are no other representations,
         warranties or agreements, written or oral, between or among the parties
         with respect to the subject matter of this Agreement.

                  K.       Forum Selection; Jurisdiction; Venue; Choice of Law.
         Borrowers acknowledge that this Agreement was substantially negotiated
         in the State of Arizona, the Agreement was delivered by the Borrowers
         in the State of Arizona, all payments under the Loan Documents will be
         delivered in the State of Arizona and there are substantial contacts
         between the parties and the transactions contemplated herein and the
         State of Arizona. For purposes of any action or proceeding arising out
         of this Agreement, the parties hereto hereby expressly submit to the
         jurisdiction of all federal and state courts sitting in Maricopa
         County, Arizona and each of the Borrowers consents that it may be
         served with any process or paper by registered mail or by personal
         service within or without the State of Arizona in accordance with
         applicable law. Furthermore, each of the Borrowers waives and agrees
         not to assert in any such action, suit or proceeding that it is not
         personally subject to the jurisdiction of such courts, that the action,
         suit or proceeding is brought in an inconvenient forum or that venue of
         the action, suit or proceeding is improper. It is the intent of the
         parties hereto that all provisions of this Agreement shall be governed
         by and construed under the laws of the State of Arizona, without giving
         effect to its principles of conflicts of law. To the extent that a
         court of competent jurisdiction finds Arizona law inapplicable with
         respect to any provisions hereof, then, as to those provisions only,
         the laws of the states where the Properties are located, as applicable,
         shall be deemed to apply. Nothing in this Section shall limit or
         restrict the right of LaSalle or Servicer to commence any proceeding in
         the federal or state courts located in the states in which the
         Properties are located, as applicable, to the extent LaSalle or
         Servicer deems such proceeding necessary or advisable to exercise
         remedies available under this Agreement or the other Transaction
         Documents.

                  L.       Counterparts. This Agreement may be executed in one
         or more counterparts, each of which shall be deemed an original.

                  M.       Binding Effect. This Agreement shall be binding upon
         and inure to the benefit of each of the parties and their respective
         successors and permitted assigns, including, without limitation, any
         United States trustee, any debtor in possession or any trustee
         appointed from a private panel.

                  N.       Survival. All representations, warranties,
         agreements, obligations and indemnities of the parties set forth in
         this Agreement shall survive the execution and delivery of this
         Agreement.

                                       13
<PAGE>

                  O.       Waiver of Jury Trial and Punitive, Consequential,
         Special and Indirect Damages. EACH OF THE PARTIES HEREBY KNOWINGLY,
         VOLUNTARILY AND INTENTIONALLY WAIVES THE RIGHT THEY MAY HAVE TO A TRIAL
         BY JURY WITH RESPECT TO ANY AND ALL ISSUES PRESENTED IN ANY ACTION,
         PROCEEDING, CLAIM OR COUNTERCLAIM BROUGHT BY ANY OF THE PARTIES HERETO
         AGAINST ANY OF THE OTHER PARTIES OR THEIR SUCCESSORS WITH RESPECT TO
         ANY MATTER ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR ANY
         DOCUMENT CONTEMPLATED HEREIN OR RELATED HERETO. THIS WAIVER BY THE
         PARTIES HERETO OF ANY RIGHT THEY MAY HAVE TO A TRIAL BY JURY HAS BEEN
         NEGOTIATED AND IS AN ESSENTIAL ASPECT OF THEIR BARGAIN. FURTHERMORE,
         EACH OF THE PARTIES HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY
         WAIVES THE RIGHT IT MAY HAVE TO SEEK PUNITIVE, CONSEQUENTIAL, SPECIAL
         AND INDIRECT DAMAGES FROM ANY OF THE OTHER PARTIES HERETO OR ANY OF
         THEIR RESPECTIVE AFFILIATES, OFFICERS, DIRECTORS OR EMPLOYEES OR ANY OF
         THEIR SUCCESSORS WITH RESPECT TO ANY AND ALL ISSUES PRESENTED IN ANY
         ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM BROUGHT BY ANY OF THE PARTIES
         HERETO AGAINST ANY OF THE OTHER PARTIES HERETO OR ANY OF THEIR
         RESPECTIVE AFFILIATES, OFFICERS, DIRECTORS OR EMPLOYEES OR ANY OF THEIR
         SUCCESSORS WITH RESPECT TO ANY MATTER ARISING OUT OF OR IN CONNECTION
         WITH THIS AGREEMENT OR ANY DOCUMENT CONTEMPLATED HEREIN OR RELATED
         HERETO. THE WAIVER BY EACH OF THE PARTIES OF ANY RIGHT IT MAY HAVE TO
         SEEK PUNITIVE, CONSEQUENTIAL, SPECIAL AND INDIRECT DAMAGES HAS BEEN
         NEGOTIATED BY THE PARTIES HERETO AND IS AN ESSENTIAL ASPECT OF THEIR
         BARGAIN.

                  P.       Provident. Provident shall be a third-party
         beneficiary of those provisions in this Agreement which provide for the
         distribution or application of Borrower Collateral Unit Excess Proceeds
         or funds in the Cross Escrow Account to or towards the Shortfall Loan.

                                       14
<PAGE>

         IN WITNESS WHEREOF, the parties have entered into this Agreement as of
the date first above written.

                           LASALLE BANK NATIONAL ASSOCIATION, as
                           Indenture Trustee pursuant to that certain Indenture
                           dated as of November 1, 2000

                           By  GE Capital Franchise Finance Corporation, a
                               Delaware corporation, successor by merger to
                               Franchise Finance Corporation of America, as
                               Attorney-in-Fact and Master Servicer pursuant to
                               that Servicing Agreement dated as of November 1,
                               2000

                           By  /S/ TODD J. WEISS
                              --------------------------------------------------
                           Printed Name   Todd J. Weiss
                           Its   Associate General Counsel

                           UNI-MARTS, INC., a Delaware corporation

                           By  /S/ N. GREGORY PETRICK
                             ---------------------------------------------------
                           Printed Name   N. Gregory Petrick
                           Its   Executive VP and CFO

                           UNI REALTY OF WILKES-BARRE, L.P., a Delaware
                           limited partnership

                           By  Uni Realty of Wilkes-Barre, Inc., a Delaware
                               corporation, its general partner

                           By  /S/ N. GREGORY PETRICK
                             ---------------------------------------------------
                           Printed Name   N. Gregory Petrick
                           Its   Treasurer

The undersigned, as successor by merger to FFCA, acknowledges and agrees that it
has sold and assigned to LaSalle all of its right, title and interest in and to
the Loan Agreements, Loans and Properties described on Exhibit A attached hereto
and that no consent, waiver or approval from the undersigned is necessary for
the Disposition Plan or the transactions, including releases, contemplated
hereby. The undersigned, as successor by merger to FFCA, agrees that it shall
not assert that any provision in this Agreement constitutes (i) a violation by
Wilkes-Barre of any "Nonconsolidation" covenants set forth in the Loan Documents
to which it is a party, or (ii) a violation by Uni-Mart of any
"Nonconsolidation" covenants set forth in the Lease. In its capacity as Servicer
for LaSalle, the undersigned will act in accordance with the terms of the
foregoing Agreement.

                           GE CAPITAL FRANCHISE FINANCE CORPORATION,
                           a Delaware corporation

                           By   /S/ TODD J. WEISS
                              --------------------------------------------------
                           Printed Name   Todd J. Weiss
                           Its   Associate General Counsel

<PAGE>

                                    EXHIBIT A

                         DESCRIPTION OF LOANS/PROPERTIES

<PAGE>

                                    EXHIBIT B

                       LIST OF UNDERPERFORMING PROPERTIES

* Properties which are subject to letters of intent as of the Effective Date<PAGE>

                                                                    EXHIBIT 10.1

                        LASALLE BANK NATIONAL ASSOCIATION
                            135 SOUTH LASALLE STREET
                                CHICAGO, IL 60603

                                October 29, 2003

Whitehall Jewellers, Inc.
155 North Wacker Drive, Suite 500
Chicago, Illinois 60606
Attention: John Desjardins

         Re:      Whitehall Jewellers, Inc. Credit Agreement

Dear John:

         Reference is hereby made to that certain Second Amended and Restated
Revolving Credit and Gold Consignment Agreement dated as of July 29, 2003 (the
"Credit Agreement") by and among Whitehall Jewellers, Inc. a Delaware
corporation (the "Borrower"), LaSalle Bank National Association, as
administrative agent for the banks ("Banks") party thereto (in such capacity,
"Administrative Agent"), the Banks, ABN AMRO Bank N.V., as syndication agent,
and JP Morgan Chase Bank, as documentation agent. Terms not otherwise defined
herein shall have the meanings assigned to them in the Credit Agreement.

         Reference is also hereby made to (i) that certain pending lawsuit filed
August 13, 2003 in which the Borrower has been named as one of the 14 defendants
in the United States District Court for the Southern District of New York,
styled Capital Factors, Inc. v. Cosmopolitan Gem Corp., et. al., No. 03 Civ.
6097 (the "Capital Factors Lawsuit"), (ii) that certain inquiry initiated by the
Securities and Exchange Commission into the matters involving the Company that
are the subject of the Capital Factors Lawsuit (the "SEC Inquiry") and (iii)
that certain criminal investigation initiated by the office of the United States
Attorney for the Eastern District of New York into the matters alleged in the
Capital Factors Lawsuit of which the Borrower is one of the subjects of such
investigation (the "US Attorney Investigation").

         This letter serves as notice to Borrower that as of the date hereof,
based on the facts and circumstances set forth in the initial complaint filed by
Capital Factors, Inc. on August 13, 2003 and a discussion of the facts,
circumstances and merits of the Capital Factors Lawsuit with the Borrower and
its counsel, the Agent and the Banks have yet to make a determination as to
whether the Capital Factors Lawsuit, if adversely determined, could reasonably
be expected to materially adversely affect the properties, assets, financial
condition or business of the Borrower in breach of Section 7.7 of the Credit
Agreement. Further, as of the date hereof and based on a discussion of the facts
and circumstances of the SEC Inquiry and the US Attorney Investigation with the
Borrower and its counsel and the information received to date from the Borrower
and its counsel, the Agent and the Banks have yet to make a determination
whether the SEC Inquiry or the US Attorney Investigation, (i) if adversely
determined, could reasonably be expected to materially adversely affect the
properties, assets, financial condition or business of the Borrower in breach of
Section 7.7 of the Credit Agreement or (ii) involves the violation of any
statute, rule

<PAGE>

or regulation that could reasonably be expected to result in the imposition of
substantial penalties or materially and adversely affect the financial
condition, properties or business of the Borrower or any of its Subsidiaries in
breach of Section 7.9 of the Credit Agreement.

         In furtherance of the foregoing, if the Required Lenders, at any time,
determine in their sole discretion based in whole or in part on events occurring
either before or after the date of this letter, including, but not limited to,
events described above, that either the Capital Factors Lawsuit, the SEC Inquiry
or the US Attorney Investigation, if adversely determined, could reasonably be
expected to materially adversely affect the properties, assets, financial
condition or business of the Borrower, the Agent shall have the right to, and
will upon direction of the Required Lenders, (i) declare an Event of Default and
cause the Lenders to cease funding of all Loans and the issuance of all Letters
of Credit under the Credit Agreement and (ii) exercise all rights and remedies
upon an Event of Default.

         As a condition of the agreement set forth herein, the Borrower agrees
to (i) provide the Agent with periodic written and oral updates as to the status
of the Capital Factors Lawsuit, the SEC Inquiry and the US Attorney
Investigation as may be requested from time to time by Agent and (ii) provide
the Agent with copies of all written inquires and material pleadings, rulings
and determinations made in such actions involving the Borrower, including, but
not limited to, requests for information, motions, complaints, responses to
discovery, responses to requests, answers, orders and rulings, as promptly as
practicable upon the submission, the receipt or the filing thereof, as
applicable, by the Borrower or its counsel.

         The Borrower hereby acknowledges and agrees that (i) the agreement
contained in this letter agreement is granted by the Agent and the Banks only
for the limited purpose set forth herein and should not be deemed a waiver or
limitation of any claims, demands, rights or remedies of the Agent and the Banks
under the Credit Agreement and all of the Loan Documents, (ii) each term and
provision of the Credit Agreement continues in full force and effect and (iii)
the disclosure by the Borrower to the Agent of the existence of the Capital
Factors Lawsuit, the SEC Inquiry and the US Attorney Investigation does not
fulfill any of the ongoing disclosure obligations of the Borrower pursuant to
this letter agreement and the Credit Agreement. This agreement is granted only
for the specific instance specified herein and in no manner creates a course of
dealing or otherwise impairs the future ability of the Banks or the Agent to
declare an Event of Default under or otherwise enforce the terms of the Credit
Agreement.

         None of the terms and conditions of this letter agreement may be
changed, modified, waived, or canceled, except by writing signed by all the
parties hereto, specifying such change, modification, waiver, or cancellation.
Except as otherwise specifically set forth herein, the Credit Agreement and all
the Loan Documents are hereby confirmed and ratified in all respects and shall
remain in full force and effect according to their respective terms.

         This letter agreement shall not suspend, waive or affect any
representation, warranty, covenant or condition contained in the Credit
Agreement. All provisions, terms and conditions of the Credit Agreement remain
in full force and effect.

                            [SIGNATURE PAGE FOLLOWS]

                                       2

<PAGE>

                                       Very truly yours,
Acknowledged and Agreed to as of
this 29th day of October, 2003         LASALLE BANK NATIONAL
                                       ASSOCIATION, for itself and as Agent for
WHITEHALL JEWELLERS, INC.              the Banks

                                       By:    /s/ Bernardo Lacayo
By:    /s/ John Desjardins                    -------------------------
       -------------------------       Name:  Bernardo Lacayo
Name:  John Desjardins                 Title: First Vice President
Title: Executive Vice President
       Chief Financial Officer         JPMORGAN CHASE BANK, individually
                                       and as Documentation Agent

                                       By:    /s/ Irene B. Spector
                                              -------------------------
                                       Name:  Irene B. Spector
                                       Title: Vice President

                                       ABN AMRO BANK N.V., individually
                                       and as Syndication Agent

                                       By:    /s/ Jeff. Sarfuty
                                              -------------------------
                                       Name:  Jeff. Sarfuty
                                       Title: VP

                                       By:    /s/ Federick Jennings
                                              -------------------------
                                       Name:  Federick Jennings
                                       Title: VP

                                       FLEET CAPITAL CORPORATION, as a
                                       Bank

                                       By:    /s/ Leon F. Melazzio
                                              -------------------------
                                       Name:  Leon F. Melazzio
                                       Title: SVP

                                       SOVEREIGN BANK, as a Bank

                                       By:    /s/ Irene A. Ogarek
                                              -------------------------
                                       Name:  Irene A. Ogarek
                                       Title: Vice President

                                       3

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