Exhibit 2.5
THIRD AMENDMENT TO AGREEMENT FOR PURCHASE AND SALE
THIS THIRD AMENDMENT TO AGREEMENT FOR PURCHASE AND SALE (the
"Agreement") is made and entered into this _____ day of November, 2003 by and
between NATIONAL RESIDENTIAL PROPERTIES, INC., a Nevada corporation (hereinafter
referred to as the "Seller") and SALOMON YUKEN and/or assigns (hereinafter
referred to as the "Purchaser").
WITNESSETH:
WHEREAS, the Seller and the Purchaser entered into and executed an
Agreement for Purchase and Sale dated January 10, 2003 (the "Agreement"),
pursuant to which the Seller agreed to sell to the Purchaser, and the Purchaser
agreed to purchase from the Seller, all of the Seller's interest in and to the
parcel of real property (the "Property") owned by the Seller located at 0000
X.X. 0xx Xxxxxx, Xxxxx, Xxxxxxx; and
WHEREAS, the Seller and the Purchaser entered into and executed an
Amendment to Agreement for Purchase and Sale dated May 8, 2003 (the "First
Amendment"), pursuant to which certain of the terms and provisions contained
within the Agreement were amended and modified; and
WHEREAS, the Seller and the Purchaser entered into and executed a
Second Amendment to Agreement for Purchase and Sale dated June __, 2003 (the
"Second Amendment") pursuant to which certain of the terms and provisions
contained within the Agreement were further amended and modified; and
WHEREAS, the Seller and the Purchaser have agreed to further amend and
modify certain of the terms and provisions contained within the Agreement, in
the manner hereinafter set forth;
NOW, THEREFORE, for and in consideration of the sum of TEN AND NO/100
($10.00) DOLLARS and other good and valuable considerations, the receipt of
which is hereby acknowledged, it is hereby agreed as follows:
1. Simultaneously with the execution of this Amendment, the Purchaser
shall deliver a check to the Seller in the amount of $35,753.00, representing:
(i) payment of a non-refundable closing date extension fee due to the Seller, in
the amount of $25,000.00; (ii) reimbursement to the Seller for attorneys' fees
incurred by the Seller for preparation of their Amendment, in the amount of
$1,000.00; (iii) reimbursement to the Seller for a loan extension fee paid by
the Seller to Home Equity Mortgage in the amount of $7,500.00; and (iv)
reimbursement to the Seller for attorneys' fees incurred by the Seller with
respect to the preparation of loan extension documents prepared by counsel for
Home Equity Mortgage, in the amount of $2,253.00.
2. The Closing Date, as said term is defined within Section 2.1 of the
Agreement, shall be extended and shall be on or before January 10, 2004.
3. From and after October 31, 2003, the Purchaser shall be liable and
responsible for the payment of all expenses associated with the ownership and
operation of the Property including, but not limited to, insurance premiums,
real and personal property taxes, repairs to the existing structure upon the
Property and all fees, costs and expenses relating to the Mortgages now
encumbering the Property.
4. Paragraphs 3, 4, 5, 6, 7 and 8, contained with the Second Amendment,
shall remain in full force and effect, notwithstanding the execution and
delivery of this Amendment.
5. Except as herein modified and amended (and except as previously
modified and amended by the terms and provisions of the First Amendment and the
Second Amendment), each and every one of the terms, provisions, covenants and
agreements contained within the Agreement shall remain unmodified and shall
continue in full force and effect.
IN WITNESS WHEREOF, the Amendment has been entered into as of the date
first set forth hereinabove.
WITNESSES: SELLER:
NATIONAL RESIDENTIAL PROPERTIES, INC.
---------------------------------- a Nevada corporation
Printed Name:
Printed Name:/s/ XXXXXXXXXXX XXXXXX By:
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XXXXXXXXXXX XXXXXX
PURCHASER:
Printed Name:/s/SALOMON YUKEN
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SALOMON YUKEN and/or assigns
Printed Name:
