PURCHASE AND SALE CONTRACT
Exhibit 10.19
SECOND AMENDMENT
TO
PURCHASE AND SALE CONTRACT
This Second Amendment to Purchase and Sale Contract is made and entered into effective as of August 20, 2008, by and between ORP THREE L.L.C., a Maryland limited liability company (“Seller”), and NIGHTHAWK PROPERTIES, LLC, a Minnesota limited liability company, and OSPREY PROPERTIES LIMITED PARTNERSHIP, LLLP, a Minnesota limited liability limited partnership (collectively, “Purchaser”).
BACKGROUND
Seller and Purchaser entered into a Purchase and Sale Contract dated August 12, 2008, as amended by a First Amendment to Purchase and Sale Contract dated August 14, 2008 (collectively, the “Purchase Contract”). Under the Purchase Contract, Seller agrees to sell to Purchaser certain real estate legally described in the Purchase Contract, located in the City of Burnsville, Dakota County, Minnesota, known as the Xxxxx Xxxx Apartments (the “Property”). Capitalized terms not defined herein, shall have the same meaning given such terms in the Purchase Contract.
Purchaser and Seller wish to modify and amend the Purchase Contract to extend the expiration of the Feasibility Period from Wednesday, August 20, to Friday, August 22.
AGREEMENT
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties mutually agree as follows:
IN WITNESS WHEREOF, to evidence their agreement to the foregoing, the parties have duly executed this Amendment effective as of the date first indicated above.
SELLER:
ORP THREE L.L.C.,
a Maryland limited liability company
By: ORP CORPORATION III,
a Maryland corporation
Its: Managing Member
By: /s/Xxxxxxx X. Xxxxxxxxx
Name: Xxxxxxx X. Xxxxxxxxx
Its: Senior Vice President
PURCHASER:
NIGHTHAWK PROPERTIES, LLC,
a Minnesota limited liability company
By: /s/Xxxxx X. Xxxxx
Name: Xxxxx X. Xxxxx
Its: President
OSPREY PROPERTIES LIMITED
PARTNERSHIP, LLLP,
a Minnesota limited liability limited partnership
By: Xxxxx Family Corporation,
its General Partner
By: /s/Xxxxx X. Xxxxx
Name: Xxxxx X. Xxxxx
Its: President