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Exhibit 10.1

ELEVENTH AMENDMENT TO
CONTRACT FOR PURCHASE AND SALE OF REAL ESTATE
(Sky Ranch)

THIS ELEVENTH AMENDMENT TO CONTRACT FOR PURCHASE AND SALE OF REAL ESTATE (this
“Amendment”) is made effective as of March 29, 2018 (the “Effective Date”), by
and between PCY HOLDINGS, LLC, a Colorado limited liability company (“Seller”),
and KB HOME COLORADO INC., a Colorado corporation (“Purchaser”). Seller and
Purchaser may be referred to collectively as the “Parties.”

RECITALS

A.          Seller and Purchaser previously entered into a Contract for Purchase
and Sale of Real Estate effectively dated June 29, 2017, as amended (the
“Contract”) for approximately 149 platted single-family detached residential
lots in the Sky Ranch master planned residential community in the County of
Arapahoe, State of Colorado.
 
B.           Purchaser and Seller now desire to further amend the terms and
conditions of the Contract as set forth below.
 

AGREEMENT

NOW, THEREFORE, in consideration of the mutual covenants contained in this
Amendment and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Purchaser and Seller hereby
agree as follows:

1.          Capitalized Terms. Capitalized terms not defined in this Amendment
shall have the meanings set forth in the Contract.

2.          Final Approval of Entitlements Applicable to the Takedown 1 Lots.
Pursuant to Section 5.(a)(ii) of the Contract, Purchaser hereby exercises its
right to extend the date for obtaining Final Approval of the Entitlements
applicable to the Takedown 1 Lots for an additional six (6) months from March
29, 2018 until October 1, 2018.

3.         Miscellaneous. In the case of any conflict between the terms of this
Amendment and the provisions of the Contract, the provisions of this Amendment
shall control. Except as the Contract is specifically modified by this
Amendment, the Parties hereby ratify, reaffirm, and restate the terms of the
Contract. This Amendment may be executed in counterparts, each of which shall be
deemed an original and may be signed and delivered by facsimile transmission or
electronic mail, and all of which, when taken together, shall constitute one and
the same Amendment.

[SIGNATURE PAGE FOLLOWS]

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IN WITNESS WHEREOF, the Parties hereto have executed this Amendment as of the
Effective Date.

 
SELLER:
       
PCY HOLDINGS, LLC, a Colorado limited liability company
     
By:

/s/ Mark Harding
 
Name:
Mark Harding

 
Title:
President
       
PURCHASER:
       
KB HOME COLORADO INC.,
a Colorado corporation
     
By:

/s/ Randy Carpenter
 
Name:
Randy Carpenter
 
Title:
President

SIGNATURE PAGE TO ELEVENTH AMENDMENT
 

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