FIRST AMENDMENT TO PHASE 3 AGREEMENT OF SALE
FIRST AMENDMENT TO PHASE 3 AGREEMENT OF SALE
THIS FIRST AMENDMENT TO PHASE 3 AGREEMENT OF SALE (this “Amendment”) is entered into this 15th day of August, 2011, by and between BLUE RIDGE REAL ESTATE COMPANY, a corporation duly organized under the laws of the Commonwealth of Pennsylvania (the “Seller”), and THE CONSERVATION FUND, a Non-Profit Corporation organized and existing under the laws of the State of Maryland (the “Purchaser”).
RECITALS:
WHEREAS, the Seller and Purchaser entered into that Phase 3 Agreement of Sale dated February 17, 2011 (the “Phase 3 Contract”), involving the purchase and sale of approximately 376.228 unimproved acres owned by Seller located in Thornhurst Township, Lackawanna County, Pennsylvania, all as more fully set forth in the Contract; and
WHEREAS, Seller and Purchaser desire to amend the Contract to extend the Inspection Period as set out in Section 5.1 of the Phase 3 Contract.
NOW THEREFORE, for and in consideration of ONE DOLLAR ($1.00) and other good and valuable consideration, receipt and adequacy of which are hereby acknowledged, the parties hereto, intending to be legally bound, agree as follows:
1.
Defined Terms. Except as expressly modified or amended hereunder, any defined terms in this Amendment shall have the definitions as provided in the Contract.
2.
Recitals and Exhibits. The recitals set forth above and all exhibits attached are incorporated by reference in, and made a part of this Amendment.
3.
Extension of the Inspection Period. Notwithstanding the terms of Section 5.1 of the Contract to the contrary, the Inspection Period is hereby extended from August 16, 2011 to February 16, 2012.
4.
Closing Date. Notwithstanding the terms of Section 4 of the Contract to the contrary, closing shall not occur before November 1, 2011.
5.
Ratification. All other terms and conditions in said Contract are hereby ratified and affirmed. Introductory recitals are incorporated herein.
6.
Counterparts. This Amendment may be executed in one or more counterparts by facsimile and the signature pages of such counterparts shall be combined to form and constitute one instrument.
WITNESS the hands and seals of the parties hereto.
WITNESS:
SELLER:
BLUE RIDGE REAL ESTATE COMPANY
/s/ Xxxxxxxxx X. Xxxxxxx
By: /s/ Xxxxx X. Xxxxxxxxxx
Its: Executive Vice President and Treasurer
Date: August 15, 2011
PURCHASER:
THE CONSERVATION FUND
A Maryland non-profit corporation
/s/ Xxxxx Xxxxxxxx
By: /s/ Xxxx X. O’Day
Xxxx X. O’Day
Vice President and Regional Counsel
Date: 8/15/11
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