Exhibit 10.16
AMENDMENT TO
OPTION AGREEMENT
THIS AMENDMENT TO OPTION AGREEMENT (this "Amendment") is made
and entered into effective as of the 1st day of December, 1999, by and between
RS INVESTMENTS/STONEBRIDGE, LLC, a Colorado limited liability company
("Seller"), and THE GENESEE COMPANY, a Colorado corporation ("Purchaser").
Recitals
A. Seller and Purchaser have heretofore entered into that certain
Option Agreement dated as of December 1, 1999 (the "Contract"), relating to the
purchase and sale of certain real property in the County of Jefferson, State of
Colorado, more particularly described therein (the "Property") which is
comprised of 83 residential lots.
B. Initially capitalized terms used herein and defined in the Contract
shall have the definitions contained in the Contract, unless otherwise defined
herein.
C. Seller and Purchaser now desire to amend the Contract to modify
certain terms and provisions of the Contract as set forth below.
Amendment
NOW, THEREFORE, for and in consideration of the mutual covenants and
agreements set forth herein, Seller and Purchaser hereby agree as follows:
1. Termination. Seller and Purchaser agree that Seller shall have the
right, in its sole and absolute discretion, to terminate the Contract at any
time by delivery of written notice to Purchaser. Upon such termination, Seller
shall promptly return to Purchaser the Option Payment, to the extent not
previously applied at a Closing.
2. Effect of Amendment. Except as amended by this Amendment, the terms
and provision of the Contract shall remain in full force and effect.
3. Counterparts. This Amendment may be executed in counterparts, each
of which shall be deemed a duplicate original.
4. Facsimile Signatures. Facsimile copies of any party's signature
hereon shall be deemed an original for all purposes.
IN WITNESS WHEREOF, the parties have caused this Amendment to be
executed as of the date first set forth above.
SELLER:
RS INVESTMENTS/STONEBRIDGE, LLC, a
Colorado limited liability company
By:
--------------------------------
Xxxxxx X. Short, Manager
PURCHASER:
THE GENESEE COMPANY, a Colorado
corporation
By:
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Xxxxx X. Xxxxx, Vice President
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