EXHIBIT 10.57
FIFTH AMENDMENT TO PURCHASE AND SALE AGREEMENT
THIS FIFTH AMENDMENT TO PURCHASE AND SALE AGREEMENT ("Fifth
Amendment"), made effective as of this 17th day of August, 2007, by and between
DEACON ENTERPRISES, INC., a Michigan Corporation, whose address is 000 Xxxxx
Xxxxxx, Xxxxxxx, Xxxxxxxx 00000 ("Seller"), and VOYAGER PETROLEUM, INC., a
Nevada corporation, whose address is 000 Xxxx Xxxxx Xxxxxx-Xxxxx 000X, Xxxxxxxx,
XX 00000, ("Purchaser").
W I T N E S S E T H:
WHEREAS, on January 19, 2007 Seller and Purchaser entered into a
Purchase and Sale Agreement for land situated in the City of Detroit, County of
Xxxxx, and State of Michigan ("Original Agreement"); and
WHEREAS, on April 18, 2007 Seller and Purchaser executed a First
Amendment to Purchase and Sale Agreement ("First Amendment") extending the
Purchaser's due diligence inspection period until May 18, 2007; and
WHEREAS, on May 15, 2007 Seller and Purchaser executed a Second
Amendment to Purchase and Sale Agreement ("Second Amendment") extending the
Purchaser's due diligence inspection period until June 18, 2007; and
WHEREAS, on June 18, 2007 Seller and Purchaser executed a Third
Amendment to Purchase and Sale Agreement ("Third Amendment") extending the
Purchaser's due diligence inspection period until July 18, 2007 ("Third
Amendment"); and
WHEREAS, on July 18, 2007 Seller and Purchaser executed a Fourth
Amendment to Purchase and Sale Agreement ("Fourth Amendment") extending the
Purchaser's due diligence inspection period until August 17, 2007 (Original
Agreement, First Amendment, Second Amendment, Third Amendment, and Fourth
Amendment are collectively the "Agreement"); and
WHEREAS, Seller and Purchaser desire to amend the Agreement;
NOW THEREFORE, Seller and Purchaser agree as follows:
1. EXTENSION OF INSPECTION PERIOD. Purchaser's right to inspect and evaluate
the Property and otherwise determine whether Purchaser shall purchase the
property (the "Inspection Period") shall be extended until August 23,
2007 at 5:00 p.m. EST without additional cost to Purchaser.
2. COUNTERPARTS AND FACSIMILE. This Amendment may be executed in any number
of counterparts all of which when taken together, shall constitute one in
the same instrument. Facsimile signatures and e-mailed PDF versions of
signatures shall be deemed originals for the purposes of execution and
delivery of this Amendment.
The parties have executed this Fifth Amendment on the day and date
first above written.
SELLER: PURCHASER:
DEACON ENTERPRISES, INC. VOYAGER PETROLEUM, INC.
By: /s/ Xxxxxx Xxxxxx By: /s/ Xxxxxxxxx Xxxxxx
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XXXXXX XXXXXX, President XXXXXXXXX XXXXXX, President
