Ex. 10.3
SECOND AMENDMENT TO CONTRACT OF SALE
This Second Amendment to Contract of Sale is made and entered into as of
the 22nd day of March, 2004, by and between XXXX, INC., a Florida corporation
("Seller"), and SILVERLEAF RESORTS, INC., a Texas corporation ("Purchaser").
W I T N E S S E T H
WHEREAS, on or about February 12, 2004, Seller and Purchaser entered into
that certain Contract of Sale pursuant to which Seller agreed to sell and
Purchaser agreed to purchase certain tracts of land containing approximately 5.3
acres, more or less, situated in Davenport, Polk County, Florida, being more
particularly described in the Contract of Sale (the "Property"); and
WHEREAS, on or about March 18, 2004, Seller and Purchaser entered into a
certain First Amendment to Contract of Sale (the Contract of Sale as amended is
hereinafter referred to as the "Contract"); and
WHEREAS, Seller and Purchaser desire to further amend the Contract in
order to extend the Title Review Period and the Inspection Period as provided
for in Articles V and VI of the Contract, respectively;
NOW, THEREFORE, in consideration of the mutual promises and covenants
contained herein, and other good and valuable consideration, the receipt,
accuracy and sufficiency of which is hereby acknowledged, Seller and Purchaser
hereby agree as follows:
1. Notwithstanding anything to the contrary contained in the Contract,
Seller and Purchaser hereby agree that the Title Inspection Period (as defined
and described in Article V of the Contract) and the Inspection Period (as
defined and described in Article VI of the Contract) shall both expire on April
30, 2004.
Except as specifically set forth above, all terms and conditions of the
Contract shall remain in full force and effect. All capitalized terms not
otherwise defined herein shall have the meaning given to such terms in the
Contract.
IN WITNESS WHEREOF, the undersigned have executed this Amendment, as of
the date and year first above written.
SELLER:
XXXX, INC., a Florida corporation
By: /S/ XXXXXX X. BOSS
-----------------------------------------
Name: Xxxxxx X. Boss
Its: President
PURCHASER:
SILVERLEAF RESORTS, INC., a Texas corporation
By: /S/ XXXXXX X. XXXX
-----------------------------------------
Name: Xxxxxx X. Xxxx
Its: CEO
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