Exhibit 99.1
NINTH AMENDMENT TO PURCHASE AND SALE AGREEMENT
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THIS NINTH AMENDMENT TO PURCHASE AND SALE AGREEMENT ("Eighth
Amendment"), made effective as of the 18th day of February, 2008, by and between
DEACON ENTERPRISES, INC., a Michigan corporation, whose address is 000 Xxxxx
Xxxxxx, Xxxxxxx, Xxxxxxxx 00000 ("Seller"), and VOYAGER PETROLEUM, INC., a
Nevada corporation, whose address is 000 Xxxx Xxxxx Xxxxxx, Xxxxx 000X,
Xxxxxxxx, Xxxxxxxx 00000 ("Purchaser"). Seller and Purchaser are also each
individually referred to as a "Party" and collectively as the "Parties".
W I T N E S S E T H:
WHEREAS, on January 19, 2007 Seller and Purchaser entered into a
Purchase and Sale Agreement for land and improvements commonly known as 000
Xxxxx Xxxxxx, situated in the City of Detroit, Xxxxx County, Michigan ("Original
Agreement"); and
WHEREAS, the Parties have executed eight (8) separate Amendments to the
Purchase Agreement (Original Agreement, together with all Amendments is the
"Agreement"); and
WHEREAS, Seller and Purchaser desire to further amend the Agreement.
NOW, THEREFORE, Purchaser and Seller agree as follows:
1. EXTENSION OF INSPECTION PERIOD. Purchaser's right to inspect
and evaluate the Property and otherwise determine whether
Purchaser shall purchase the Property (the "Inspection
Period") shall be extended until March 28, 2008 at 5:00 p.m.
EST.
2. CLOSING. If Purchaser is not ready to close by March 28, 2008,
Seller may terminate the Agreement, retain the Deposit, and
neither Party shall have any further obligations to the other,
except that Purchaser shall have a reasonable period of time
to remove all of Purchaser's equipment, fixtures and other
property of Purchaser located at the Property. If the
transaction closes, the entire Deposit shall be applied to the
Purchase Price.
3. NOTICE. Notice to terminate the Agreement may be made by
either Party through their respective attorneys by facsimile
or e-mail to the attorney representing the other Party.
4. COUNTERPARTS AND FACSIMILE. This Agreement may be executed in
any number of counterparts, all of which when taken together
shall constitute one and the same instrument. Facsimile and
e-mail PDF versions of signatures shall be deemed originals
for purposes of execution and delivery of this Amendment.
The Parties have executed this Ninth Amendment as of the date set forth
above.
SELLER: PURCHASER:
DEACON ENTERPRISES, INC. VOYAGER PETROLEUM, INC.
By: /s/ Xxxxxx Xxxxxx By: /s/ Xxxxxxxxx X. XxXxxx
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XXXXXX XXXXXX, President XXXXXXXXX XXXXXX, President
