CCC OF NEW JERSEY, INC.
197 FIRST AVENUE, NEEDHAM, MASSACHUSETTS 02494
Exhibit 10.187
As of March 30, 1999
CareMatrix of Princeton (SNF), Inc.
197 First Avenue
Needham, Massachusetts 02494
Re: Lease dated as of August 7, 1998, by and between CCC of New Jersey,
Inc. ("Chancellor"), as landlord, and CareMatrix of Princeton (SNF),
Inc. ("CareMatrix"), as tenant (the "Lease")
Ladies and Gentlemen:
This letter agreement is intended to confirm our understanding with
respect to certain aspects of the above-referenced Lease, and to acknowledge the
payment by you of certain amounts in connection therewith. Capitalized terms
used herein and not defined herein shall have the meanings for such terms set
forth in the Lease.
CareMatrix and Chancellor hereby confirm and agree that in connection with
our entering into the Lease, CareMatrix agreed to bear all expenses incurred in
connection with the operation of the Leased Property, including, without
limitation, that certain working capital loan from The Chase Manhattan Bank in
the original principal amount of $2,000,000 (the "W/C Loan").
We hereby acknowledge that we have received from you today the sum of
$2,000,000, which amount has been used by us to payoff and discharge in full all
obligations under the W/C Loan.
Please indicate your acknowledgement and agreement to the matters set
forth herein by signing the enclosed counterpart of this letter where indicated
and returning it to the undersigned.
Very truly yours,
CCC OF NEW JERSEY, INC.
By:/s/ Abraham D. Gosman
------------------------
Name:
Title:
hereunto duly authorized
Acknowledged and agreed as of this 30th day of March, 1999
CAREMATRIX OF PRINCETON (SNF), INC.
By:/s/ David B. Currie
-------------------
Name: David B. Currie
Title:VP
hereunto duly authorized
