PURCHASE AND SALE CONTRACT BETWEEN WESTERN CAN, LTD. AS SELLER AND FLYNN LAND COMPANY, INC. AS PURCHASER PURCHASE AND SALE CONTRACT THIS PURCHASE AND SALE CONTRACT ("Purchase Contract") is entered into as of the 27th day of May, 1999 (the "Effective...Purchase and Sale Contract • September 21st, 1999 • Consolidated Capital Institutional Properties • Real estate • California
FLYNN LAND COMPANY, INC. One Flynn Center 825 Van Ness Avenue San Francisco, CA 94109 July 12, 1999 Western Can Ltd. c/o Karen Nielsen Higgins, Esq. Loeb & Loeb, LLP 1000 Wilshire Blvd., Ste. 1800 Los Angeles, CA 90017Purchase and Sale Agreement • September 21st, 1999 • Consolidated Capital Institutional Properties • Real estate
This letter agreement shall be the First Amendment to that certain Purchase and Sale Agreement dated May 27, 1999 between Flynn Land Company, Inc., as Purchaser and Western Can, Ltd., as Seller (the "Agreement"). Capitalized terms used herein shall be as defined in the Agreement. 1. Purchase Price/Additional Deposit. Section 3.1 is amended to provide that the total Purchase Price shall be Twenty Three Million Two Hundred Fifty Thousand Dollars ($23,250,000). Purchaser represents to Seller that the Additional Deposit has been deposited with the Escrow Agent, and that the total Deposit and Additional Deposit now held by Escrow Agent is $500,000. 2. Feasibility and Environmental Inspection. Purchaser has waived all contingencies set forth in Section 5 with the sole exception of the completion and approval of a Phase II environmental inspection including soil borings and samples. For that purpose alone the Feasibility Period is extended to July 22, 1999 at 5:00 pm. Should Purchaser not app
