The printed portions of this form have been
approved by the Colorado Real Estate Commission.
(AE41-1-94)
THIS FORM HAS IMPORTANT LEGAL CONSEQUENCE SN THE PARTIES SHOULD CONSULT LEGAL
AND TAX OR OTHER COUNSEL BEFORE SIGNING.
AGREEMENT TO AMEND/EXTEND CONTRACT
March 15, 2000
RE: Contract dated March 8, 2000
Between M.D.T.I. (Buyer)
And Horizon Investments, LLC (Seller)
Relating to the sale and purchase of the following described real estate in the
County of Weld, Colorado.
Lots 2 and 3, Block 4; and Lots 2 and 3, Block 5; totaling 4.76 acres m/l plus
an additional parcel of land 80 ft x 405 ft (32,000 sq.ft.) for a total of 5.5
acres m/l in the Vista Commercial Center
Known as No. to be determined
Street Address
Xxxxxxxx Xxxxxxxx 00000 (Property).
City State Zip
Buyer and Seller hereby agree to amend the aforesaid contract as follows:
1. The date for closing and delivery of deed is changed to n/a
2. The date for furnishing commitment for title insurance policy or abstract
of title is changed to n/a
3. The date for delivering possession of Property is changed to n/a
4. The date for approval of new loan is changed to n/a
5. The date for lender's consent to loan assumption or transfer of Property is
changed to n/a
6. Other dates set forth in said contract shall be changed as follows: n/a
7. Additional amendments:
a. The Property to be purchased is amended as follows:
Xxxx 0 xxx 0, Xxxxx 0, Xxxxx Xxxxxxxxxx Xxxxxx, Xxxxx X; and
Xxxx 0 xxx 0, Xxxxx 0, Xxxxx Xxxxxxxxxx Xxxxxx, Xxxxx XX and proposed plat,
for a total of 5.46 acres or 237,903 square feet of land, m/l.
SJW, NRS, MHB
b. The price is amended to read: $1,189,515.00, which is $5.00 per square
foot x 237,903 sq.ft.; the price may be adjusted prior to or at closing
upon verification of Survey.
8. Paragraphs 8 and 9 continued on the next page shall form a part of this
contract.
9. Copy of Phase II proposed plat is attached and made a part of this
Agreement.
SJW, NRS, MHB
All other terms and condition of said contract shall remain the same.
Horizon Investments, LLC
/s/ N. Xxxxxxx Xxxxxx /s/Xxxx X. Xxxxxxx
by N. Xxxxxxx Xxxxxx, Manager by Xxxx X. Xxxxxxx, Manager
Seller Seller
Date of Seller's Signature 3-15-2000 Date of Seller's Signature 3-15-2000
/s/Xxxxxxx X. Xxxxxxxx
by Xxxxxxx X. Xxxxxxxx, Chairman
Buyer
Date of Buyer's Signature March 3, 2000
No. AE41-1-94. AGREEMENT TO AMEND/EXTEND CONTRACT
This form produced by: Formulator for Windows 000-000-0000
8. Option to Purchase
In consideration of the payment of $10.00, paid by Buyer to Seller, Seller
hereby grants to Buyer the right and option to purchase Lots 3 and 8, Block 5
and Lots 1, 2, and 0, Xxxxx 0, Xxxxx Xxxxxxxxxx Xxxxxx (Xxxxx XX), (xxx "Option
Parcel") for a period beginning on the Closing date and extending until a date
one year thereafter (the "Option Period") under the following conditions:
A. Exercise of Option
Provided Buyer has closed on the purchase of the Property, Buyer may
exercise this option by giving written notice of such intent to Seller at any
time, with the closing to occur within 90 days.
B. Purchase Price
The purchase price shall be equal to $5.00 per square foot of the lands
within the Option Parcel, as established by a survey to be obtained by Seller.
Such purchase price shall be payable in cash or certified funds at closing.
Seller shall be responsible for the installation and costs of installing the
roads and utilities within the street rights of way.
C. Closing
Closing shall occur no later than 90 days after Buyer gives notice of
intent to exercise this option, at a time and place designated by Seller and
Buyer.
D. Title and Conveyance
At, or before, the closing after notice of Buyer's intent to exercise such
option, Seller shall furnish Buyer with a current commitment for title insurance
policy in an amount equal to the purchase price. Seller shall deliver the title
insurance policy with the standard exceptions deleted (provided Seller shall not
be required to provide an ALTA merchantable in Seller, and subject to no
encumbrance. Conveyance shall be by a good and sufficient general warranty deed,
at time of closing, conveying the property free and clear of all taxes except
taxes for the year of closing, and subject to easements and rights-of-way or
record prior to execution of this agreement, and any building and zoning
regulations. General taxes for the year of closing shall be prorated between
Seller and Buyer to the date of closing. Any encumbrance required to be paid may
be paid with proceeds from closing.
E. Failure of Option
In the event Buyer fails to exercise the option to purchase the property or
in the event the closing does not occur before the expiration of the Option
Period, then the option shall expire and all things of value paid to Seller
shall remain Seller's and Buyer shall not be entitled to claim any monies or
credit for monies previously paid to Seller.
F. Recording of Memorandum
At the closing of the purchase and sale of the Property, the parties agree
to execute a memorandum of this option agreement and record it in the records of
Weld County. Seller may record a notification that such rights have expired (as
to that portion sold by Seller to a third party purchaser).
M.D.T.I. Horizon Investments, LLC
By /s/ Xxxxxxx Xxxxxxxx by /s/N. Xxxxxxx Xxxxxx
Xxxxxxx Xxxxxxxx, Chairman N. Xxxxxxx Xxxxxx, Manager
President and CEO
By/s/ Xxxx X. Xxxxxxx
Xxxx X. Xxxxxxx, Manager
[ Final Plat - Vista Commercial ]
Phase I
[ Final Plat - Vista Commercial ]
Phase II
