Second Amendment to Commercial Contract between 1612 E. Cape Coral Parkway Holding Co., LLC and Daniel Thom, Trustee of the Torstonbo Trust
This amendment updates the commercial contract between 1612 E. Cape Coral Parkway Holding Co., LLC (the seller) and Daniel Thom, as Trustee of the Torstonbo Trust (the buyer), for the property at 1612 Cape Coral Parkway East, Florida. The closing date is extended to October 1, 2020, and the buyer must immediately increase the deposit by $100,000, which will be credited toward the purchase price at closing. All other terms of the original contract remain unchanged unless specifically modified by this amendment.
Exhibit 10.1
Second Amendment to Commercial Contract
(the “Second Amendment”)
Buyer: | Daniel Thom, as Trustee of the Torstonbo Trust |
Seller: | 1612 E. Cape Coral Parkway Holding Co., LLC |
Property Address: | 1612 Cape Coral Parkway East, Cape Coral, Florida 33904 |
THIS SECOND AMENDMENT is made part of the Commercial Contract (the “Contract”), concerning the Property referenced above. Notwithstanding anything contained in the Contract, as previously amended, to the contrary:
1. Buyer and Seller hereby agree and amend the Closing Date as follows: to extend the Closing Date to October 1, 2020.
2. As and for consideration for the extension of the Closing Date, the Buyer shall increase the Deposit by additional $100,000.00 to be immediately deposited with Old Republic National Title Insurance Company. This additional deposit will be credited to the Purchase Price at Closing. This additional deposit shall be subject to the same terms and conditions as all existing deposits.
3. Except as otherwise modified herein, this Second Amendment shall not alter, modify or amend the Contract, as previously amended. In the event of a conflict between this Second Amendment and the Contract, the terms of this Second Amendment shall prevail.
4. This Second Amendment may be executed in counterparts and a facsimile or electronic signature copy (DocuScan) shall be deemed to have the same force and effect as an original.
Buyer: | Seller: | |
Daniel Thom, Trustee | 1612 E. Cape Coral Parkway Holding Co., LlC, | |
of the Torstonbo Trust | a Florida limited liability company |
By Its Manager: | ||||
Legacy Education Alliance Holdings, Inc. | ||||
By: | /s/ Daniel Thom | By: | /s/ James E. May | |
Daniel Thom, as Trustee | James E. May, as CEO | |||
September 23, 2020 | September 24, 2020 |
Second Amendment to Commercial Contract
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