FIRST AMENDMENT TO PURCHASE AND SALE CONTRACT FOR SIENNA BAYPurchase and Sale Agreement |
|
|
|
You are currently viewing: This Purchase and Sale Agreement involves
CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES 3 | CCIP/3 SANDPIPER, LLC | CONCAP EQUITIES, INC | DT GROUP DEVELOPMENT, INC. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
|
|
|
|
Exhibit 10.86
FIRST AMENDMENT TO PURCHASE AND SALE CONTRACT FOR SIENNA BAY
This First Amendment to Purchase and Sale Contract (this “ Amendment ”) is made as of October 8, 2009 between CCIP/3 SANDPIPER, LLC, a Delaware limited liability company (" Seller ") and DT GROUP DEVELOPMENT, INC., a California Corporation (“ Purchaser ”). W I T N E S S E T H: WHEREAS , Seller and Purchaser entered into that certain Purchase and Sale Contract, dated as of August 14, 2009, with respect to the sale of certain property described therein (the “ Contract ”); and WHEREAS , Seller and Purchaser desire to amend certain provisions of the Contract as hereinafter set forth. NOW, THEREFORE , in consideration of the mutual covenants herein contained, the sum of $10.00 and other good and valuable consideration, the mutual receipt and legal sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 1. Capitalized Terms. Capitalized terms used in this Amendment shall have the meanings given to them in the Contract, except as expressly otherwise defined herein. 2. Adjournment of Closing Date . Section 5.1.2 of the Contract is hereby deleted in its entirety. Seller and Purchaser hereby agree that the Closing Date is adjourned to November 12, 2009. 3. Additional Deposits . (a) The definition of “ Non-refundable Deposit ” set forth on Schedule 1 of the Contract is hereby modified to mean “a portion of the Deposit equal to $175,000”. (b) On or prior to October 15, 2009 Purchaser shall deliver to the Escrow Agent an additional deposit of $124,000 (the “ First Additional Deposit ”). One half of the First Additional Deposit (i.e. $62,000) shall be added to and become a part of the Non-refundable Deposit (i.e. the Non-refundable Deposit |
AGREEMENTS / CONTRACTS
CLAUSES
| Get Email Updates |







