Letter Agreement Collateral Sharing

EXHIBIT 10.27


November , 1994


Town & Country Corporation Town & Country Fine Jewelry Group, Inc. L.G. Balfour Company, Inc. Gold Lance, Inc. 25 Union Street Chelsea, Massachusetts 02150 Attention: Mr. Robert Hannon
Chief Financial Officer


Re: Amended and Restated Collateral Sharing Agreement
dated as of May 14, 1983, by and among Fleet Precious
Metals Inc. ("Fleet") and various consignors (the
"Collateral Sharing Agreement") and the Consignment
Agreements (as defined in the Collateral Sharing
Agreement).


Gentlemen:


Reference is made herein to the Consignment Agreements and to a certain letter dated October 18, 1994 (the "Termination Notice") sent by Rhode Island Hospital Trust National Bank ("RIHT") to Town & Country Corporation, Town & Country Fine Jewelry Group, Inc., L.G. Balfour Company, Inc. and Gold Lance, Inc. (collectively, the "Company") whereby RIHT indicated that it intended to terminate the Consignment Agreement between RIHT and the Company (the "RIHT Consignment Agreement"). This letter will confirm our understanding that RIHT has advised the Company and Fleet, as Agent under the Collateral Sharing Agreement that it intends to rescind said Termination Notice and that RIHT and the other Consignors hereby agree that in the absence of the occurrence of an Event ...