First Amendment to Purchase and Sale Contract between Wood Creek CPGF 22, LP and Pivotal Finance, LLC
This amendment updates the original Purchase and Sale Contract dated March 1, 2011, between Wood Creek CPGF 22, LP (Seller) and Pivotal Finance, LLC (Purchaser) for real property in Mesa, Arizona. The main change is an extension of the deadline for the Non-refundable Initial Deposit Component to March 21, 2011. All other terms of the original contract remain unchanged unless specifically modified by this amendment.
Exhibit 10.53
FIRST AMENDMENT
TO
PURCHASE AND SALE CONTRACT
This First Amendment to Purchase and Sale Contract (this "Amendment") is made effective this 11th day of March, 2011, by and between WOOD CREEK CPGF 22, LP., a Delaware limited partnership ("Seller"), and PIVOTAL FINANCE, LLC, an Arizona limited liability company ("Purchaser").
RECITALS
A. Seller and Purchaser are parties to that certain Purchase and Sale Contract dated as of March 1, 2011 (the "Contract"), for the purchase and sale of that certain real property located in Mesa, Arizona, and more particularly described within the Contract.
B. Seller and Purchaser desire to amend the Contract upon the terms and conditions set forth in this Amendment.
AGREEMENT
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Purchaser agree as follows:
1. Capitalized terms used, but not otherwise defined herein, will have the meanings ascribed to such terms within the Contract.
2. The Non-refundable Initial Deposit Component Date, as defined in Section 2.2.1 of the Contract, is hereby extended to March 21, 2011.
3. Except as modified by this Amendment, the terms and provisions of the Contract will remain in full force and effect. To the extent of any conflict between the terms of the Contract and this Amendment, the terms of this Amendment will supersede and govern.
4. This Amendment may be executed in any number of counterparts, and facsimile copies or electronic (.PDF) copies of executed signatures will be accepted as originals.
[Signatures appear on the following page.]
IN WITNESS WHEREOF, the parties have executed this FIRST AMENDMENT TO PURCHASE AND SALE CONTRACT as of the effective date written above.
SELLER:
WOOD CREEK CPGF 22, L.P., a Delaware limited partnership
By: CPGF 22 WOOD CREEK GP, L.L.C., a
South Carolina limited liability company,
its general partner
By: CENTURY PROPERTIES GROWTH
FUND XXII, LP, a Delaware limited
partnership, its member
By: FOX PARTNERS IV, a California general partnership, its general partner
By: FOX CAPITAL MANAGEMENT
CORPORATION, a California
corporation, its managing general
partner
By: /s/Trent A. Johnson
Name: Trent A. Johnson
Title: Vice President
PURCHASER:
PIVOTAL FINANCE, LLC, an Arizona limited liability company
By: PIVOTAL GROUP, INC., an Arizona corporation, its Sole Member
By: /s/Richard Garner
Richard Garner
Vice President, Treasurer