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~- <br /> <br />NORTH CAROLINA <br />~~ <br />AMENDMENT TO CONTRACT FOR <br />PURCHASE OF REAL PROPERTY <br />ORANGE COUNTY <br />THIS AMENDMENT TO CONTRACT FOR PURCHASE OF REAL PROPERTY (the <br />"Amendment") is made and entered into this ~ day of -4~~ ~, 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 and Buyer entered into a contract for the purchase of the Property dated June 29, <br />2004 (the "Contract"), an amendment to the Contract also dated June 29, 2004 (the "First <br />Amendment") and an amendment to the Contract dated February 17, 2005 (the "Second <br />Amendment"). Now, for the reasons set forth herein, Seller and Buyer wish to restate, adopt, <br />ratify and confirm the terms of the Contract, the .First Amendment and the Second Amendment <br />subject to the terms of this third amendment to the Contract (the "Third Amendment"). <br />Therefore, subject to the terms and conditions of this Third Amendment, and the terms of <br />the Contract as amended by the First Amendment and the Second Amendment, and in <br />consideration of the premises and the respective agreements contained herein, and other good <br />and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the <br />Seller and Buyer hereby agree as follows: <br />THIRD AMENDMENT TO CONTRACT: <br />1. The first two sentences of Paragraph 2 of the Contract are hereby deleted and the <br />following substituted in their place: "The purchase price ("Purchase Price") to be paid by Buyer <br />for the Property shall be One Million Two Hundred Fifty Thousand and No/100ths Dollars <br />($1,250,000.00). The balance of the Purchase Price due under this Contract shall be paid by wire <br />transfer at Closing, subject to prior adjustments and prorations as provided in this Contract. The <br />Balance of the Purchase Price due under this Contract shall be paid by wire transfer at Closing, <br />subject to the terms of this Contract." <br />2. Paragraph 2(a) of the Contract is amended to delete Womble Carlyle Sandridge & Rice, <br />PLLC as Escrow Agent and substitute Kennedy Covington Lobdell & Hickman, L.L.P in its <br />place. <br />3. Paragraph 7.b. of the Contract is hereby deleted and the following substituted in its place: <br />"Temporary Construction Access. On or before March 1, 2006, Seller shall provide temporary <br />construction access from Old NC 86 to the boundary of the Property which is suitable for any <br />typical construction vehicle." <br />4. The first sentence of Paragraph 7.c. of the Contract is hereby deleted and the following <br />substituted in its place: "Seller shall deliver to the Property on or before August 1, 2006, public <br />utilities, including water and sewer and electricity extended to the boundary of the Property in a <br />13076.03 <br />LIB: RTP <br />