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~~. • <br /><<.~ <br />NORTH CAROLINA <br />ORANGE COUNTY <br />~ ~~~ ~/~3--/.mss <br />AMENDMENT TO CONTRACT FOR <br />PURCHASE OF REAL PROPERTY <br />THIS AMENDMENT TO CONTRACT FOR PURCHASE OF REAL PROPERTY (the <br />"Amendment") is made and entered into this 15th day of February, 2005, by and between <br />NORCA HOLDINGS, LLC, a Delaware limited liability company, and its permitted successors <br />or assigns ("Seller"); and ORANGE COUNTY, a body politic and corporate, and its permitted <br />successors and assigns ("Buyer"). <br />STATEMENT OF PURPOSE <br />Seller intends to purchase that certain tract of land located in Orange County, North <br />Carolina, as described more particularly below. Subject to Seller's acquisition of the Property <br />(as defined below), Buyer intends to acquire the Property (as defined below) from Seller upon <br />the terms and conditions contained in this Contract. Contingent upon it acquiring the Property, <br />Seller is willing to sell and convey the Property to the Buyer in accordance with the terms and <br />conditions of this Contract. <br />Seller and Buyer entered into a Contract for the Purchase of the Property dated <br />June 29, 2004 (the "Contract"). Now, for the reasons set forth herein, Seller and Buyer wish to <br />reinstate, adopt, ratify and confirm the terms of the Contract in accordance with the terms of this <br />Amendment. <br />Therefore, subject to the terms and conditions of this Amendment, and the unaltered <br />terms of the Contract, and in consideration of the premises and the respective agreements <br />contained herein, and other good and valuable consideration, the receipt and sufficiency of which <br />are hereby acknowledged, the Seller and Buyer hereby agree as follows: <br />AMENDMENT TO CONTRACT: <br />1. The terms of the Contract, as modified by this Amendment, are hereby reinstated, <br />adopted, ratified and confirmed by the Parties <br />2. Paragraph 4 of the Contract is hereby deleted and the following substituted in its <br />place: <br />Closin>;. <br />a. Seller's obligations under this Contract are expressly contingent upon Seller's <br />acquisition of the Property from a third party on or before April 15, 2005. If Seller does not <br />acquire the Property on or before April 15, 2005, for any reason whatsoever, this Contract shall <br />automatically terminate and shall be null and void and of no further force or effect. Upon <br />termination pursuant to this Paragraph, neither parry to this Contract will have any further <br />obligations or remedies hereunder except that in the event of termination pursuant to this <br />RTP 93901v2 <br />