3. Hickory represents and warrants to IFI that the WREIT Note

 August 13, 1990

 Indiana Financial Investors, Inc.
 151 N. Delaware St., Suits 425
 Indianapolis, Indiana 46204

 Gentlemen:

  This letter will set forth the agreement and
 understanding between Hickory Furniture Company ("Hickory") and
 Indiana Financial Investors, Inc. ("IFI") concerning the
 transaction outlined below:

     1.IFI shall purchase from Hickory an interest in the amount
 of $790,000 in that certain Demand Promissory Note held by
 Hickory, from Wisconsin Real Estate Investment Trust ("WREIT")
 dated as of January 1, 1989 in the principal amount of
 $10,581,384.80 (the "WREIT Note").

    2. For the interest described in paragraph 1, IFI shall  pay
  to Hickory the sum of $750,000.

   3. Hickory represents and warrants to IFI that the WREIT Note
  is secured by a pledge by WREIT to Hickory of the shares of
  Acton Corp. owned by WREIT (the "Acton Collateral").  Hickory
  agrees to assign to IFI its interest in the Acton Collateral
  to secure payment of IFI's interest in the WREIT Note.

   4. Hickory agrees to subordinate its right to receive
  principal and interest under the WREIT Note and its rights in
  the Acton Collateral, to the interest and rights of IFI in the
  WREIT Note and the Acton Collateral.

   5. IFI agrees that its interest in the WREIT Note and the
  Acton Collateral may be subordinated to rights which may be
  granted to New England Life in an amount not to exceed
  $2,000,000.

 6.  If IFI has not received $790,000 of principal and all
 accrued interest thereon on or before August 15, 1992, then IFI
 shall be entitled to demand payment from WREIT and to exercise
 all other remedies under the WREIT Note and the Acton
 Collateral documents.

 7.   This transaction shall be subject to the preparation of
 documentation satisfactory to IFI and to Hickory.

 8.    Notwithstanding any other provision herein to the
 contrary, if the transaction contemplated by this letter has
 not been approved by the IFI Board of Directors on or before
 August 31, 1990, Hickory shall immediately refund to IFI
 $75O,OOO, plus interest thereon at the rate of 12% per annum.

  If the foregoing correctly sets forth our agreement, please so
 indicate by signing a copy of this letter in the space provided
 below.

                                       HICKORY FURNITURE COMPANY
                                       By:______________________

 Accepted and agreed to this _______day of August, 1990.

                               INDIANA FINANCIAL INVESTORS, INC.

                                       By:______________________ 

Basic Info X:

Name: 3. Hickory represents and warrants to IFI that the WREIT Note
Type: Note
Date: Sept. 6, 1995
Company: INDIANA FINANCIAL INVESTORS INC
State: Indiana

Other info:

Date:

  • August 13 , 1990
  • January 1 , 1989
  • August 15 , 1992
  • August 31 , 1990
  • August , 1990

Organization:

  • N. Delaware St.
  • Hickory Furniture Company
  • Indiana Financial Investors , Inc.
  • New England Life
  • IFI Board of Directors

Location:

  • Indianapolis
  • Wisconsin

Money:

  • $ 10,581,384.80
  • $ 750,000
  • $ 2,000,000
  • $ 790,000
  • $ 75O

Percent:

  • 12 %