Attached files
file | filename |
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8-K - 8-K - CENTURY PROPERTIES FUND XIX | cpf19tambay_8k.htm |
Exhibit 10.54
FIRST AMENDMENT TO PURCHASE AND SALE CONTRACT
THIS FIRST AMENDMENT TO PURCHASE AND SALE CONTRACT (this "Amendment") is made and entered into as of the 15th day of August, 2012 (the "Amendment Effective Date"), by and between CENTURY PROPERTIES FUND XIX, LP, a Delaware limited partnership("Seller") and AUGUSTUS PARTNERS, LLC, a Colorado limited liability company ("Purchaser").
RECITALS:
A. Seller and Purchaser entered into that certain Purchase and Sale Contract, dated as of June 14, 2012 ("Contract") for the purchase of the Property described therein commonly known as Tamarind Bay Apartments.
B. Seller and Purchaser wish to amend the contract as provided below.
NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Purchaser agree as follows:
(b) Section 5.1 of the Contract is deleted and the following is substituted in lieu thereof:
" 5.1. Closing Date. The Closing shall occur on September 14, 2012 (the Closing Date) through an escrow with Escrow Agent, whereby Seller, Purchaser and their attorneys need not be physically present at the Closing and may deliver documents by overnight air courier or other means, unless the parties hereto mutually agree in writing to an earlier Closing Date. Notwithstanding the foregoing to the contrary, Seller shall have the option, by delivering written notice to Purchaser, to extend the Closing Date to the last Business Day of the month in which the Closing Date otherwise would occur pursuant to the preceding sentence, in connection with Sellers payment in full of the Notes (the Loan Payoff)."
4. Governing Law. This Amendment shall be governed by the laws of the State of Florida.
[Signature Pages Follow]
IN WITNESS WHEREOF, Seller and Purchaser have executed this Amendment as of the day and year first above written.
Seller:
CENTURY PROPERTIES FUND XIX, LP,
a Delaware limited partnership
By: FOX PARTNERS II,
a California general partnership,
its general partner
By: FOX CAPITAL MANAGEMENT CORPORATION,
a California corporation,
its managing general partner
By: /s/Steven D. Cordes
Name: Steven D. Cordes
Title: Senior Vice President
[Purchasers Signature Page Follows]
AUGUSTUS PARTNERS, LLC,
a Colorado limited liability company
By: /s/Carter T. Faber
Name: Carter T. Faber
Title: Member