SECOND AMENDMENT TO
SECOND
AMENDMENT TO
JOINT
ESCROW INSTRUCTIONS
This
Second Amendment is made and entered into on July 24, 2008 (the “Effective
Date”) by and between by and between RKD Holdings, L.L.C. (“Seller”), and
GameTech International Inc. (“Buyer”) and modifies that certain Purchase And
Sale Agreement And Joint Escrow Instructions, as amended, (the “Agreement”)
between the parties dated March 31, 2008. Seller and Buyer may be
referred to individually as a “Party” or collectively as the
“Parties”. All of the terms and conditions of the Agreement unless
expressly rewritten herein, shall remain in full force and effect.
Whereas,
Seller and Buyer mutually desire to modify the terms of the
Agreement;
Accordingly,
the following terms and conditions shall apply as of the Effective Date of this
First Amendment.
Section 3
of the Agreement is hereby deleted and replaced in its entirety with the
following:
“3.
Closing and Extension of Escrow. The terms "Closing" and "Close of Escrow" shall
mean the completion of the purchase, exchange of money and documents, recording
of the Grant, Bargain and Sale Deed and delivery of possession of the Property
to Buyer. The Closing shall take place through Escrow upon satisfaction (or
waiver by the appropriate party) of all conditions to Closing set forth herein
on or before August 28, 2008 or such later date as the parties may mutually
agree in writing. Buyer shall pay to Seller at closing the following per diem
for each full day Closing has yet to occur:
For every
full day between July 30, 2008 and August 3, 2008, inclusive, two-hundred and
fifty dollars ($250) per day.
For every
full day between August 4, 2008 and August 8, 2008, inclusive, five-hundred
dollars ($500) per day.
For every
full day between August 9, 2008 and August 13, 2008, inclusive, seven-hundred
and fifty dollars ($750) per day.
For every
full day after August 13, 2008, until Closing shall have occurred, one-thousand
dollars ($1000) per day.
IN
WITNESS WHEREOF, the parties have executed this First Amendment as of the date
first written above.
“Buyer” “Seller”
GameTech
International,
Inc. RKD
Holdings, L.L.C.
By:
______________________ By:
______________________________
Its:
______________________ Its:
______________________________