2005 S Purchasing - R T Holdings LLC Sportsplex Property Sale and Purchase Agreement

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1~1r. Geoffrey F. Gledhill June 29, 2005 Page 2 the services (as described in the Agreement) provided at the CAC during the extension. The $100,000.00 shall be paid in three equal installments of $33,333.33, payable on July 1, 2005, August 1, 2005 and September 1, 2005, respectively. Unless the context clearly requires a contrary construction, all references to "Fee" in the Agreement shall include these three payments. The foregoing notwithstanding, in the event that RT Holdings conveys title to the County prior to September 30, 2005, the Agreement (as herein amended) shall automatically terminate upon the recording of RT Holdings' deed to the County. The undersigned agree that except as herein amended and modified, the Agreement shall remain in full force and effect, and that the execution of this letter agreement shall not constitute a novation of the Agreement. This letter agreement is executed u~a~.t to the terms of the County's and RT Holdings' Agreement for Purchase and Sale dated~~~_`' 2005. County warrants and represents to RT Holdings that its execution of this letter agreement has been duly authorized by its Board of County Commissions, and RT Holdings warrants and represents to County that its execution of this letter agreement has been duly authorized by the limited liability company. Each of the undersigned warrants and represents to the other that it is not aware of any .existing breach or default by the other under the terms of the Agreement. If the foregoing letter agreement is acceptable, please have the two original copies executed by the Count<~, send one to my attention by facsimile, acid forward one original by First Class U.S. Mail. This letter agreement is open for acceptance by County until 5:00 p.m. local time on June 30, 200. If it is so accepted, it shall become a binding agreement between the parties. Sincerely, RT HOLDINGS, LLC By: Adam Weigold RALEIGH\QSG68S_ 1