Amendment No. 2 to Stock Purchase Agreement among Olympic Property Group LLC, Olympic Water and Sewer, Inc., and Port Ludlow Associates LLC
This amendment, dated June 13, 2001, updates the Stock Purchase Agreement between Olympic Property Group LLC, Olympic Water and Sewer, Inc., and Port Ludlow Associates LLC. It revives the original agreement, extends a key deadline from June 8, 2001, to June 22, 2001, and confirms that all other terms remain unchanged. The amendment ensures the continued validity of the agreement for the purchase and sale of shares in Olympic Water and Sewer, Inc.
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Exhibit 10.17
AMENDMENT NO. 2
TO
STOCK PURCHASE AGREEMENT
THIS AMENDMENT NO. 2 TO STOCK PURCHASE AGREEMENT (this "Amendment") dated as of June 13, 2001, is made by and among Olympic Property Group LLC, a Washington limited liability company ("OPG"), Olympic Water and Sewer, Inc., a Washington corporation (the "Company"), and Port Ludlow Associates LLC, a Washington limited liability company ("Purchaser"), regarding that certain Stock Purchase Agreement dated May 29, 2001, as amended by Amendment No. 1 dated June 1, 2001 (as amended, the "Agreement"), among OPG, the Company, and Purchaser, for the purchase and sale of the shares of capital stock of the Company (the "Shares").
I. EFFECT OF AMENDMENT. This Amendment amends and modifies the Agreement. In the event of any conflict between the Agreement and this Amendment, this Amendment shall control. Except as contained within the Agreement and this Amendment, there are no other agreements or understandings among OPG, the Company, and Purchase relating to the Shares. Capitalized terms not otherwise defined herein shall have the meanings given them under the Agreement.
II. REVIVAL OF AGREEMENT. The Agreement is hereby revived.
III. EXTENSION OF TIME. In Section 9.17 of the Agreement, the date "June 8, 2001," is hereby replaced by the date "June 22, 2001."
Except as expressly amended by this Amendment, the Agreement is hereby ratified and confirmed and shall take full force and effect.
| PURCHASER: | PORT LUDLOW ASSOCIATES LLC, a Washington limited liability company | |||
By West Coast Northwest Pacific Partners LLC, a Washington limited liability company, its manager | ||||
By: | /s/ RANDALL J. VERRUE | |||
| Print Name: | Randall J. Verrue | |||
| Its: | President | |||
Date: | 8/1/01 | |||
OPG: | OLYMPIC PROPERTY GROUP LLC, a Washington limited liability company | |||
By: | /s/ GREGORY M. MCCARRY | |||
| Print Name: | Gregory M. McCarry | |||
| Its: | C.O.O. | |||
Date: | 8/1/01 | |||
COMPANY: | OLYMPIC WATER AND SEWER, INC., a Washington corporation | |||
By: | /s/ TOM GRIFFIN | |||
| Print Name: | Tom Griffin | |||
| Its: | President | |||
Date: | 8/1/01 | |||
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