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manner sufficient to allow Buyer to make all necessary connection to said public utilities for the <br />benefit of the Property." <br />5. Paragraph 9 of the Contract is hereby deleted and the following substituted in its place: <br />"9. Settlement Adjustments. Unless otherwise specified in this Contract, all income, expenses <br />and costs related to the Property shall be prorated as of the date on which the Closing actually <br />occurs (the "Effective Closing Date"). <br />a. Seller shall pay at the Closing all ad valorem property taxes on the Property <br />including the prepaying of all ad valorem property taxes on the Property for the calendar year in <br />which the Closing occurs. In the event either the tax assessment or tax rate for the year in which <br />the Closing occurs has not been established as of the Effective Closing Date, the ad valorem <br />property taxes to be prepaid at Closing shall be determined on the basis of the then current tax <br />assessment and tax rate, and shall be adjusted between the parties as needed after closing within <br />two (2) weeks after the date on which the correct tax assessment and/or tax rate for the year in <br />which the closing occurs is established. <br />b. To the extent that the amount of any of the items above shall not be available for <br />exact proration as of the Effective Closing Date, Seller or its representative and Buyer or its <br />representative shall meet as soon after the Closing as possible and compute and settle and adjust <br />or readjust the closing prorations between the parties so that they accurately reflect the <br />obligations of each pursuant to this Contract as of the Effective Closing Date." <br />6. Except as amended herein, the terms and conditions of the Contract, as amended by the <br />First Amendment and the Second Amendment, shall remain in full force and effect. <br />IN WITNESS WHEREOF, the parties have caused this Amendment to be executed as of <br />the date set forth below each signature. <br />"SELLER" <br />NORCA HOLDINGS, LLC, a Delaware limited <br />liability company <br />B ~:~ ~~~ <br />Y- <br />Its: S2 Vick ~Q~s~t~wT <br />"BUYER" <br />ORANGE COUNTY, a b~ politic and corporate <br />By: <br />2 <br />13076.03 <br />LIB: RTP <br />