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<br />NORTH CAROLINA <br />ORANGE COI11vrTY <br />AMENDMENT TO CONTRACT FOR <br />PURCHASE OF REAL PROPERTI' <br />THJS AMENDI`dENT TO CONTRACT FDR PURCHASE OF REAL PROPERTY (the <br />"Amendment") is made and entered into this _ day of , 2005, by and between <br />NORCA HOLDINGS, LLC, a Delaware limited liability company, and its permitted successors <br />or assigns ("Seller"); and ORANGE. COIINT'Y, 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 .Tune 29, 2004 (the "First <br />Amendment") and an amendment to the t;ontract dated F'ebruazy 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 />considerstion 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 fist two sentences of Pazagraph 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 shad be One Million Two Hundred Fifty Thousand and No/100ths Dollars <br />(S L25Q000.00). The balance of the Purchase Price due under this Contract shall be paid by urire <br />transfer st 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 fo the terms of this Contract." <br />2. Paragaph 2(a) of the Contract is amended to delete V.%ombte Cazlyle Sandridge & Rice, <br />PI,LC as Escrow Agent and substitute Kennedy Covington L,obdell & 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 />"Temnorarv Construction Access. On or before Mazch I, 2006, Seller shall provide temporary <br />construction access from Old NC 66 to the boundary of the Property which is suitable for any <br />typical construction vehicle." <br />4 The first sentence of Paragrsph 7.c. of the Contract is hereby deleted and the fo3lo~o~ing <br />substituted in its place: "Seller shall deliver to the Property on or before August I, 2006, public <br />utilities, including water and sewer and electricixy extended to the boundary of the Property in a <br />I ip76 G~ <br />t.IR. ATP <br />