FIFTH AMENDMENT TO REAL ESTATE PURCHASE AND SALE AGREEMENT
Exhibit 10.7
FIFTH AMENDMENT TO
REAL ESTATE PURCHASE AND SALE AGREEMENT
THIS FIFTH AMENDMENT TO REAL ESTATE PURCHASE AND SALE AGREEMENT (the “Amendment”) is made as of January 8, 2018, by and between XXXXXXXXXX XXXXXXXX, L.L.C., an Illinois limited liability company, as Seller, and S.R. XXXXXXXX DEVELOPMENT CORP., a Michigan corporation on behalf of an entity to be named, as Purchaser.
WHEREAS, Seller and Purchaser entered into a certain Real Estates Purchase And Sale Agreement, dated as of January 10, 2017, as amended by a certain Amendment To Real Estates Purchase And Sale Agreement, dated April 7, 2017, as amended by a Second Amendment To Real Estates Purchase And Sale Agreement, dated April 25, 2017, as amended by a Third Amendment to Purchase and Sale Agreement, dated as of June 9, 2017, and further amended by a Fourth Amendment to Purchase and Sale Agreement, dated as of November 15, 2017 (together the “Agreement”), pursuant to which Seller agreed to sell, and Purchaser agreed to purchase, that certain real property located in the Village of Xxxxxxxxxx (“Village”), County of Kendal and State of Illinois with Parcel Identification Numbers 00-00-000-000, 03-02-202-001, 00-00-000-000 and 00-00-000-000 (the “Property”).
WHEREAS, the parties agree to amend the Agreement as set forth herein.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree the Agreement is hereby amended as follows:
| 1. | Paragraph 6. The Approval Period been extended to, and shall expire on, January 24, 2018, to allow for the approval by the Village of Xxxxxxxxxx of the annexation agreement amendment. |
| 2. | Paragraph 7. The Closing Date shall be within thirty (30) days after the expiration of the Approval Period. |
| 3. | Balance of Terms. Except as set forth herein, the Agreement remains unmodified and in full force and effect. |
| 4. | Miscellaneous. This Amendment may be executed in any number of counterparts, and by separate parties hereon on separate counterparts, and all of such counterparts taken together shall constitute one and the same Amendment. This Amendment may be executed and delivered by facsimile or electronic mail in PDF format. The section headings set forth in this Amendment are for convenience of reference only, and do not define, limit or construe the contents of such sections. |
The parties have executed this Amendment as of the date first written above.
| SELLER: | PURCHASER: | |||||||
| XXXXXXXXXX XXXXXXXX, L.L.C. | S.R. XXXXXXXX DEVELOPMENT CORP. on behalf of an entity to be named | |||||||
| /s/ | XXXXXXXXX XXXXXXX |
/s/ | S.R. XXXXXXXX DEVELOPMENT CORP. | |||||
| By: | Xxxxxxxxx Xxxxxxx | By: | Xxxxx .X. Xxxxxxxx | |||||
| Its: | Senior Vice President | Its: | President | |||||
[5th Amendment to Purchase and Sale Agreement for Xxxxxxxxxx]
