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Exhibit 10.20

AMENDMENT NO. 5

TO

STOCK PURCHASE AGREEMENT

    THIS AMENDMENT NO. 5 TO STOCK PURCHASE AGREEMENT (this "Amendment") dated as
of July 24, 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,
Amendment No. 2 dated June 13, 2001, Amendment No. 3 dated June 22, 2001, and
Amendment No. 4 dated June 29, 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.  The Agreement is hereby revived.

    III.  EXTENSION OF TIME.  In Section 9.17 of the Agreement, the date
"July 13, 2001," is hereby replaced by the date "August 1, 2001."

    Except as expressly amended by this Amendment, the Agreement is hereby
ratified and confirmed and shall remain in 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/ TROY D. CROSBY   

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    Print Name:   Troy D. Crosby

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    Its:   Authorized Representative

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Date:
 
8/1/01

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OPG:
 
OLYMPIC PROPERTY GROUP LLC, a
Washington limited liability company
 
 
By:
 
/s/ GREGORY M. MCCARRY   

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    Print Name:   Gregory M. McCarry

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    Its:   C.O.O.

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Date:
 
8/1/01

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COMPANY:
 
OLYMPIC WATER AND SEWER, INC., a
Washington corporation
 
 
By:
 
/s/ TOM GRIFFIN   

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    Print Name:   Tom Griffin

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    Its:   President

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Date:
 
8/1/01

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Exhibit 10.20

AMENDMENT NO. 5 TO STOCK PURCHASE AGREEMENT