|
02/13/01 09:36 FAX 209 UF1 6310 • 2002/002
<br /> 01/22/2901 13:44 2
<br /> PROPERT SERVICES PAGE 02
<br /> *8103
<br /> 9 481 8110 _ X002
<br /> ADDENDUM.XII
<br /> -M5 i5 LNTENDED TO DL A LE(;AY.LY BENDING CON'fRACT,REA7)IT CAREFY]LL'Y
<br /> The following terms and aortditions are hereby incorporated ikaTtd made a part of that cenalr
<br /> Standard Offer,Agreement and,Escrow Ir1Str-UctiDnS for PUT&Aso Of Real Estate dated lune 27,
<br /> 2000,between Kevin Dougherty and/or Assj,gttee,Buyer,and Itnproved Emevoient FrOtYett ve-
<br /> Order of Elks of the World,Inc.,San Joaquin 41016,Seller,on the,property known as 317,325,
<br /> 139 S.Center,43 and 47 W.Sonora,Stockton,Californla.A_P.N.'s 137-310-10, 11, 12,13, 14,
<br /> 16,and 17,
<br /> IT IS AGREED"!"FIAT:
<br /> Seiler&fives permission to Buyer to have a Phasc 11 GeoPmbe soil and water study performed on d�
<br /> property,at Buyer's own expense, This environmental study shall be completed by rbntety lu,
<br /> 2001_ Buyer shall give results of this test to Seller immediately upon receipt of such results,
<br /> Should the environmental study conclude Utat the water is contaminated in that is contains
<br /> hazardous materials,theft Buyer shall have the right to cancel this purchase agreement and have
<br /> his deposit refunded. 'Buyer shall have fift=n(15)business days after receipt of the above 237
<br /> environmental study to notiFy Seller and/or agent,Elizabeth Rosengnist/Properey Services,in
<br /> writing,as to whether Buyer intends to proceed with the purchase of this Property,or in the
<br /> altu=6ve,to teT:ninatc this agreement. In the event of termination of said contract,Buyers
<br /> deposit shall be immediately retunted in f=ull
<br /> In the event that Buyer elects to proceed with the purchase of the'property,Buyer,for the bcnefrt
<br /> of Seller,and during the escrow period,shall cause an envirotunentai remediation of the
<br /> property;provided that Seller shall be responsible for no more than$50,000 of the cost of that
<br /> remediation. Said amount shall be a credit to Buyer toward the purchase price. It is agracd that
<br /> Seller shall not Lie responsible for the cost ofrcmoval and/or disposal of any asbestos that exist
<br /> at or in the building located at 317 S.Center Street.
<br /> At the time in which Buyer elects ro proceed with the purchase of the property,Buyer shall make
<br /> an additional deposit toward the purchase price,in the sum of 535,000. At tbat time,the initial
<br /> deposit of 55,000 and the second sum of$35,000 shall be deemed non-refundable and transferred
<br /> to the Seller from escrow. The total deposits of$40,000 shall be credited to the purchase price.
<br /> The closing of the sale of this property shall occur upon the earlier of completion of the
<br /> environmental remediatior+or 1S months lion the date that Buyer eloc16 to proceed with the
<br /> purchase of the property.
<br /> SELLER-. Improved Benevolent Protective Order of Elks
<br /> of be Worl nC.,San Joaquin#1016
<br /> By
<br /> 1 11
<br /> By:
<br /> BUYER. Kevin Dougherty+audlor Assignee
<br /> By
<br /> Date_
<br /> K ,in DougixctTY
<br />
|