THIRD AMENDMENT TO AGREEMENT OF PURCHASE & SALE (Bankston Meadows - MANSFIELD, TEXAS)
THIRD
AMENDMENT TO AGREEMENT OF PURCHASE & SALE
(Xxxxxxxx
Xxxxxxx - MANSFIELD, TEXAS)
This
Third Amendment to the Agreement of Purchase and Sale (the “Third Amendment”) is
made for good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, by and between Genesis
Land Development, LLC
(“Seller”) and Wall
Homes Texas LLC.
a Texas
Limited Liability Company, (“Purchaser”) to amend that certain Agreement between
Seller and Purchaser dated June
3, 2005,
(the
“Contract”), the legal description of the subject property (“Property”) being
set forth in said Contract and incorporated herein by this reference.
Capitalized terms, other than proper pronouns, not otherwise defined herein
but
defined in the Contract shall have the same meaning as set out in the Contract
except as amended hereby.
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1.
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Seller
and Purchaser agree to amend Exhibit B to require the final Lot Closing
to
occur on or before January 2, 2008.
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2.
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Seller
and Purchaser agree to amend Section 2.1 to add the following: The
Xxxxxxx
Money shall be released to Seller within two business days following
the
execution of this Amendment by Seller and Purchaser. Any accrued
interest
shall be paid to Purchaser at that time. The Xxxxxxx Money shall
be
credited on a pro rata basis toward payment of the Purchase Price
at the
Closing of the last twenty Lots.
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3.
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Seller
and Purchase agree to amend Section 3.4(a) to add the following:
Real
property taxes on the final Lot Closing shall be prorated from July
11,
2007. Said taxes shall be paid at each Lot’s
closing.
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4.
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All
other terms and conditions of the Contract shall remain in full force
and
effect as originally written, except as amended
hereby.
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5.
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This
amendment may be executed by the parties hereto in separate and distinct
counterparts and delivered to each other by facsimile transmission,
which
when taken together shall constitute the complete, original agreement
of
the parties.
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Seller:
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Purchaser:
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GENESIS
LAND DEVELOPMENT, LLC
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WALL
HOMES TEXAS LLC,
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a
Texas limited partnership
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a
Texas Limited Liability Company
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By:
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/s/
Xxx Xxxxxxxx
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By:
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/s/
Xxxxx Xxxx
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Xxx
Xxxxxxxx
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Xxxxx
Xxxx
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Sole
Manager
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CEO
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Date:
4/16/07
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Date:
4/17/07
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