FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS
FIRST
AMENDMENT TO
JOINT
ESCROW INSTRUCTIONS
This
First Amendment is made and entered into on May 27, 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 (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.
1.
Section 3 of the Agreement is hereby amended by deleting the phrase “before the
date which is ninety (90) days” in the fifth line and replacing it with “before
the date which is one-hundred and twenty (120) days”.
2. The
following is added as a new subparagraph (f) to Section 6 of the
Agreement:
(f). The
items identified in Exhibit D, attached hereto and incorporated herein, prior to
or upon Close of Escrow shall be, as appropriate, repaired to good repair and
working order reasonably acceptable to buyer, completed if not noted as a repair
and, if either noted as a credit or not so repaired or completed, then credited
to Buyer at Close of Escrow at the listed Associated Cost amount.
3.
Exhibit D, Repairs and Credits, attached hereto and incorporated herein, is
hereby added as an additional exhibit to the Agreement.
4.
Section 10(c), No Further Warranties: “AS IS”, is hereby amended by deleting all
use of the phrase “Section 9” therein and replacing them with the phrase
“Section 9 and Section 6(f)”.
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:
______________________________
Exhibit
D
Repairs
and Credits
|
Item
|
Associated
Cost
|
||||
|
1
|
Exterior
Paint Credit
|
$ | 20,000 | ||
|
2
|
Credit
for Exit Door Move (North East End)
|
$ | 5,000 | ||
|
3
|
Asphalt
refurbishment and repair Credit
|
$ | 2,000 | ||
|
4
|
Pond
repair (vandal damage)
|
$ | 5,000 | ||
|
5
|
Loading
dock wall repair
|
$ | 1,500 | ||
|
6
|
Loading
dock door repair
|
$ | 2,000 | ||
|
7
|
Interior
concrete cleaning
|
$ | 500 | ||
|
8
|
Ceiling
tiles repair
|
$ | 2,500 | ||
|
9
|
South
side double doors are damaged
|
$ | 2,500 | ||
|
10
|
Break
room floor cleaning/polishing
|
$ | 5,000 | ||
|
11
|
Tile
cleaning/polishing
|
$ | 1,500 | ||
|
12
|
Leaking
connection to the water heater repair
|
$ | 1,000 | ||
|
13
|
Multiple
toilet leaks repair
|
$ | 1,000 | ||
|
14
|
Roof
refurbishment and repair
|
$ | 50,000 | ||
|
15
|
Unused
chimney removal
|
$ | 4,000 | ||
|
16
|
Exterior
silo removal
|
$ | 5,000 | ||
|
17
|
Loading
Dock Hydraulics repair
|
$ | 1,500 | ||
Items 4-17 to be repaired or removed by owner
