FIRST AMENDMENT TO REAL ESTATE PURCHASE AND SALE AGREEMENT
Exhibit 10.2
FIRST AMENDMENT TO
REAL ESTATE PURCHASE AND SALE AGREEMENT
THIS FIRST AMENDMENT TO REAL ESTATE PURCHASE AND SALE AGREEMENT (this "First Amendment") is made as of August 14, 2012, by and between WRI CAPITAL GROUP II LLC, a Georgia limited liability company (“Seller”), and REVEN ACQUISITIONS, LLC, a Delaware limited liability company (“Buyer”) with reference to the following recitals:
RECITALS
A. Seller and Buyer entered into that certain Real Estate Purchase and Sale Agreement, dated as of July 30, 2012 ("Purchase Agreement"), pursuant to which Seller agreed to sell and Buyer agreed to purchase from Seller, that certain real property consisting of ten (10) single family homes, in the City of Atlanta, Georgia, and which is more particularly defined in the Purchase Agreement as the “Property,” all upon the terms and subject to the conditions contained in the Purchase Agreement.
B. Seller and Buyer have agreed to amend the Purchase Agreement as set forth in this First Amendment.
AGREEMENT
NOW, THEREFORE, in reliance on the foregoing recitals, and in consideration of the mutual covenants contained herein, and for other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, Seller and Buyer hereby agree as follows:
1. Definitions. All initially-capitalized terms used in this First Amendment without definition shall have the meanings given such terms in the Purchase Agreement.
2. Excluded Properties. Buyer and Seller agree that the property located at 0000 Xxxxxxxxx Xxxxxxx Xxxxx, Xxxxxxxxx, Xxxxxxx is an “Excluded Property” (as that term is defined in Section 5(c) of the Purchase Agreement).
3. Purchase Price. The Basic Terms set forth in the Purchase Agreement are hereby amended to provide that the Purchase Price is reduced by the amount allocated to the Excluded Property. The amended Purchase Price is Six Hundred Twenty-Nine Thousand Seven-Hundred Sixty-Three and 61/100 Dollars ($629,736.39).
4. Replacement of Exhibit A. Buyer and Seller acknowledge and agree that Exhibit A to the Purchase Agreement is deleted and replaced with Exhibit A, attached to this First Amendment.
5. Counterparts. This First Amendment may be executed in counterparts, each of which shall be an original and when all counterparts are taken together they will constitute one and the same agreement.
6. Electronic Signatures. Seller and Buyer may deliver their respective signatures to this First Amendment by facsimile, e-mail, or other electronic transmission. A party that receives an executed signature page from the other party by electronic transmission may rely upon that signature page as if it was a signed original.
IN WITNESS WHEREOF, each party hereto has caused this First Amendment to be duly executed on its behalf as of the day and year stated above.
SELLER: |
WRI CAPITAL GROUP II LLC, a Georgia limited liability company
By: /s/ Xxxxx Xxxx Name: Xxxxx Xxxx Its: Manager
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BUYER: |
REVEN ACQUISITIONS, LLC, a Delaware limited liability company
By: /s/ Xxxx Xxxxxxxxx Name: Xxxx Xxxxxxxxx Its: Chief Executive Officer
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EXHIBIT A
DESCRIPTION OF PROPERTies
No. | Address | Zip Code | Price | ||||||||
1 | 0000 Xxxxxx Xxxxxxx Xxxxx Xxxxxxxxx, Xxxxxxx | 00000 | $ | 69,749.28 | |||||||
2 | 00000 Xxxxxxxx Xxx Xxxxxxx, Xxxxxxx | 00000 | $ | 67,756.45 | |||||||
3 | 0000 Xxxxxx Xxxx Xxxxxxx Xxxxxxxx, Xxxxxxx | 00000 | $ | 67,756.45 | |||||||
4 | 000 Xxxxxxxx Xxxxx, Xxxxxxxxx, Xxxxxxx | 00000 | $ | 69,749.28 | |||||||
5 | 0000 Xxxxxxx Xxxxxx, Xxxxxxxx XX | 00000 | $ | 71,742.12 | |||||||
6 | 000 Xxxxx Xxxx Xxxxxxxxx, Xxxxxxx | 00000 | $ | 73,734.96 | |||||||
7 | 000 Xxxx Xxx Xx Xxxxxxxx, XX | 00000 | $ | 67,756.45 | |||||||
8 | 000 Xxxx Xxxxxxx Xxxxx, Xxxxx Xxxxxxxx, Xxxxxxx | 00000 | $ | 69,749.28 | |||||||
9 | 0000 Xxxx Xxxxxx Xxxxx Xxxxxxxx, XX | 00000 | $ | 71,742.12 | |||||||
$629,736.39 | |||||||||||
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