Addendum #2 to Buy and Sell Agreement Between Community Shores Bank and Baumgardner-Hogan Real Estate, LLC

Summary

This addendum, dated April 25, 2006, extends the contingency period in a Buy and Sell Agreement originally dated October 31, 2005, between Community Shores Bank (buyer) and Baumgardner-Hogan Real Estate, LLC (seller) for property in Muskegon County, Michigan. The buyer is granted an additional 60 days to fulfill its obligations under the agreement. Both parties acknowledge and accept this extension by signing the addendum.

EX-10.1 2 k05508exv10w1.txt ADDENDUM #2 TO BUY AND SELL AGREEMENT EXTENDING THE CONTINGENCY PERIOD Exhibit 10.1 ADDENDUM # 2 LOGO LOGO Office of COLBURN HUNDLEY, INC., REALTOR GRAND RAPIDS (city), Michigan Phone: 616 ###-###-#### Fax: 616 ###-###-#### Email: ***@*** Date: April 25, 2006 (time) 1. ADDENDUM TO AGREEMENT DATED October 31, 2005 covering property commonly know as: Lots 43-48, inclusive, Shady Park, as recorded in Liber 9 of Plats, Page 54, Muskegon County Records, situated in the County of Muskegon, MI Permanent Parcel Number ________________________ 2. THIS ADDENDUM TO BE AN INTEGRAL PART OF THE AGREEMENT, WHICH IS AMENDED AS FOLLOWS: Pursuant to Page 3 Sec 10c of said Buy and Sell Agreement, Buyer shall be allowed an additional 60 days to perform its obligations as stated. _______ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ 3. BY SIGNING BELOW BUYER/TENANT ACKNOWLEDGES HAVING READ AND RECEIVED A COPY OF THIS AGREEMENT. Witness: Entity: COMMUNITY SHORES BANK ------------------------- Buyer's Address: By: /s/ Heather Brolick ----------------- ---------------------------------------- - ---------------------------------- (Note: Please sign as you wish your name to appear on the final papers.) Printed name of Signatory: Heather Brolick Its: President 4. BY SIGNING BELOW SELLER/LANDLORD ACKNOWLEDGES HAVING READ AND RECEIVED A COPY OF THIS AGREEMENT. Witness: Entity: Baumgardner-Hogan Real ------------------------- Estate, LLC Buyer's Address: By: /s/ Larry Baumgardner ----------------- ---------------------------------------- - ---------------------------------- (Note: Please sign as you wish your name to appear on the final papers.) Printer name of Signatory: Larry Baumgardner Its: Member April 28, 2006 LOGO