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THIS AGteiMZMT, aace and watered I n t o between BASK Of

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UkTiOUtZ* T333T AJfD teTLUGS ASmCXATLOS, a R a t i o n a l Banking A s s o c i a t i o n ,

party of the f i r s t p a r t , and TBMtUMXKlQl BASKfiOLUXHCtQGZ?M1I, s c o r p o r t i o n organised m d e x i s t i n g under end by v i r t u e o f the laws o f the
State of Delaware, party o f the second p a r t ,
V X f if I f

I B T l i

MBSEAd, the party o f the f i r s t p e r t herein d i d , oa the 26th
day o f June, 1351, eater i n t o a c e r t a i n agreement w i t h GOSPOJUTXGi Of
ME3XCA, a corporation organised end e x i s t i n g under end by v i r t u e o f the
l a s s of the State o f C a l i f o r n i a , i n and by ahioh the party o f the f i r s t
p a r t herelu sold t o the said Corporation o f Aaerica, and the said Corpora*t i o n o f Aaerlca purchased f r o a the party o f the f i r s t p a r t h e r e i n , a t end
f o r the purchase p r i c e o f TitUm

M i l l i o n D o l l a r s ($15 000 000 0 0 ) , c e r t a i n

notes, p o r t i o n s o f n o t e s , o b l i g a t i o n s , clsdne, cenande, causes o f a c t i o n ,
e q u i t i e s , f u t u r e appreciations i n bond and other written-deen accounts,
recoveries

on losses, and o t h e r assets, together with e l l Mortgagee, deede

o f t r u s t , c o l l a t e r a l o r o t h e r s e c u r i t y eecuriag the eeae, e l l ae eet f o r t h
aad l i s t e d i a a schedule attached t o s a i d agreenent and designated ae
schedule

the p r i n c i p a l enaunt e f ehlch said i t e m s , exclusive o f the

s e c u r i t y securing the eeae, together v i t h i n t e r n e t thereon t o J u l y 1 , li>51,
t o t a l the sua o f f i f t e e n M i l l i o n Xtollare ($15 000 000 00)) and
m i n u s , said agreenent provided that peyasnt e f e l l e f the
aaaunte regaining due should be sede on the 26th dey of June, 198E$ end
3BSSXA3, by agreenent node end entered into between the party of
the f i r e t p e r t herein end eald Corporation of i n e r i c n , dated June 25, 1952,
the t i n e of perforesaoe e f the said agreensnt was extended fron June 26,
1952 t o floeinber S I , 1952* end




C rx
* 2 -

SHSREAS, the p a r t y e f the f i r s t p e r t hernia «*d said Corporation
e f A f r i c a did, on the S l s t day o f December, 1951, nake and enter l a t e a
contract e f ad&ilar l a p o r t t o t h a t hereinbefore r e f e r r e d t o , a f f e c t i n g Tea
B i l l i o n Dollars (410 000 000 00) o f assets as U s ted i n en e x h i b i t attached
to said agree&enti snd
3B2B2J&, toy the teras of the aforesaid l a s t nentioned agreenent,
payment for the said aseets was to be >aade prior to Deoeabor 51, 1352 j end
« O t t * S » on the 15th day of February, 1952, the party of the f i r s t
part herein and said Corporation of Aaerlca aade and entered into a certain
agreenent o f

rtwller

inport, i n and by ehiefc the p^rty of the f i r s t pert here-

i n sold to said Corporation of America assets i n the t o t a l aaouat of Ten Ki}*l i e n , Two Hundred Fourteen Thousand Dollars ($10 214 000 0 0 ) , i n end by ahieh
said contract payaent f o r aald assets was to he naae by the said Corporation
of Anerlee prior to February 15, 1955} and
WSE8JEAS* said three contracts affected tho aalo of asaeta bar the
party

the f i r s t pert herein to said Corporation of Aaarlea i n approximate*

l y the t o t a l enn of T h i r t y - f l e e m i i i o n ($55 000 000 00) Dollars, a l l as l i s t ed i n exhibits attached to said contracts) end
micMJ£ 9 an the second day of October, 1955, the party of the second
pert herein, l

i

m

m

USX H0LC2BG COtiPASl, aeeaned a U of the obHlgatl^Mi

and l i a b i l i t i e s of said OOaPOJUTIOB OF AMEBIC* under the three eontreets hereinabove referred t o , end which, as aforesaid, totaled the enn of This tip-five
B i l l i o n Dollars (#55 000 000 0 0 ) | snd
a s m s , I t v i l l he greatly to the advantage of fee parties to t h i s
agreonmt t h a t the Une f o r perfiirnengs by the party e f tfce eeeend p e r t e f 1 U




-

8-

o b l i g a t i o n s under said three contracts hereinbefore mentioned, aseuned by i t
f r o n Corporation of Aaerloa, ee aforesaid, affecting the t o t a l purchase end
sale of assets i n the eon of approximately t h i r t y - f l e e M i l l i o n Dollars
($85 000 000 0 0 ) , be eseh extended to and including the 51st day of December,
1955} and
m t S M S , the t i n e f o r the perforaeaoe of the obligations of the afore*
said agreenente dated, respectively, June 26, 1951, Deoeabor 51, 1951, snd February 15, 1952, has, by sutnnl agreenente heretofore exeonted between the party
of the f i r s t part hereto end COBPOEATIQH OF AMEIXCA, end TKASSAMERICA fitU BOLbOtQ GOaFASI, been extended to and inducting Seeenber 51, 1954|
SOW, T u m m u , FQti M D IS C0B8II«RA!ri0K of the pronlee en the
pert of the party e f the f i r s t part to continue to nee due diligence i n eel*looting end liquidating the itene set f o r t h i n the schedules attached to tho
aforesaid agreenente dated, respectively, June 26, 1961, December 81, 1951,
snd February 18, 1952, and i n consideration of the sutnel benefits which Ike
parties hereto H I D derive f r o a such c w ,t4nn t i t en of diligenee i n collecting
snd liquidating said i t e n e , end i n eonsldoratioa of the antnel bsneflte t H nfr
s i l l be derived by the parties hereto froa the aforesaid extensions, and f o r
other good and valuable considerations, the receipt ifcereof i s hereby acknowledged by the respective parties hereto, i t i e hereby agreed that tho t i n e
f o r the performance by the party of the aeeond pert heroin o f i t e obligations
wider the afereeaid agreenente dated, reepectlvely, June 26, 1981, ttscanbor
81, 1 9 a , end February 18, 1982, by snd betooen BASS OF AJfXBXCA SAKOKAl T835T
AMD UflMQS ASSOmuttXOe, n Sntlcnnl Banking Association, i n said a g r m n i t e




[- 4 -

end e x i s t i n g under and by v i r t u e o f tho l a v a o f tho State o f C a l i f o r n i a , i a
said agreenente r e f e r r e d t o as »the c o r p o r a t i o n * , end the t i n e f o r the oon»
aeacenent o f the payment o f i n t e r e s t a t the r a t e o f s i x per coat ($%) per
annua oa the unpaid balance o f the purchase p r i c e , pursuant t o the terns o f
the aforesaid agreenente, jfeleh said agreenoate have boon assumed by tho p a r t y
o f the second p a r t herein as aforesaid, bo and the sane l a i a each oase hereby
extended t o Decenber 51, 1955} snd the party e f the f i r s t p a r t hereby agrees
t o continue to use due d i l i g e n c e i n c o l l e c t i n g and l i q u i d a t i n g the i t e n e s e t
f o r t h i n Schedule "A* attached t o each o f the aforesaid agreenente*

I n M?

other respects the a f o r e s a i d sgreenmte s h a l l remain unchanged, snd the s a i d
p a r t i e s s h a l l have the sane o b l i g a t i o n s thereunder, w i t h the sole exception
t h a t the t i a & f o r the perforn&noe and f o r the ooaaeneencnt o f i n t e r e s t i a
respect t o each o f said c o n t r a c t s l e hereby extended t o Deoeabor S I , 1955*
18

tfimss

the p a r t i e s hereto have canoed t h i s instrument

t o be executed, and t h e i r respective corporate scale t o be hereunto a f f i x e d ,
by t h e i r o f f l o o r s thereunto duly authorised, t h i s 21st day e f Xevenher, 1954*




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