Exhibit 10.286


 


SECOND AMENDMENT TO AGREEMENT OF PURCHASE
AND SALE


[Domain Site, Garland, TX]


 


This SECOND AMENDMENT TO AGREEMENT OF PURCHASE
AND SALE (this "Amendment") is made and entered into as of July 29, 2015 (the "Effective Date"), by and between
RCM Firewheel, LLC, a Texas limited liability company ("Seller"), and ArchCo Residential LLC, a Delaware limited liability
company ("Purchaser").


 


Recitals


 


This Amendment is made with respect to
the following facts:


 


A.           Seller
and Purchaser entered into the Agreement of Purchase and Sale dated as of April 29, 2015 (the "Original Agreement"),
with respect to approximately 135.89 acres of land located in Garland, Texas (the "Property"), as more particularly described
in the Purchase Agreement.


 


B.           Seller
and Purchaser entered into the Amendment to Agreement of Purchase and Sale dated as of July 13, 2015 (the "First Amendment'').
The Original Agreement, as amended by the First Amendment, is referred to in this Amendment as the "Purchase Agreement''.


 


C.           Seller·and
Purchaser desire to amend the Purchase Agreement as set forth in this Amendment.


 


Agreement


 


In consideration of the foregoing Recitals,
the conditions, terms, covenants and agreements set f01th in this Amendment, and of other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, Seller and Purchaser agree that the Purchase Agreement is amended as
set forth in this Amendment:


 


1.          Defined Terms. Each initially
capitalized term used in this Amendment has the meaning set forth for that term in the Purchase Agreement, unless it is otherwise
defined in this Amendment.


 


2.          Due
Diligence Period. Section 1.1(h) of the Original Agreement, as previously amended by the First Amendment, is amended to provide
that the Due Diligence Period shall expire on August 7, 2015.


 


3.          Closing
Date. Section l.l(i) of the Original Agreement is amended to provide that the Outside Closing Date for the Phase I Property
shall be November 6, 2015.


 


4.          Counterparts.
This Amendment may be executed in several counterparts, each of which shall be deemed an original, and all of which together shall
be deemed to be one and the same Amendment when each party has signed one of the counterparts. This Amendment may be delivered
to the Escrow Agent and the other party by facsimile or in pdf format by email transmission.


 


5.          Entire
Agreement. The Purchase Agreement, as amended by this Amendment, constitutes the full and complete agreement and understanding
between Seller and Purchaser and shall supersede all prior communications, representations, understandings or agreements, if any,
whether oral or written, concerning the subject matter contained in the Purchase Agreeme11t, as so amended, and no provision of
the Purchase Agreement, as so amended, may be modified, amended, waived or discharged, ii1whole or in part, except by a written
instrument executed by Seller and Purchaser.


 


6.          Full
Force and Effect; Incorporation. Except as modified by this Amendment, the terms and provisions of the Purchase Agreement are
hereby ratified and confirmed and are and shall remain in full force and effect. If any inconsistency arises between this Amendment
and the Purchase Agreement as to the specific matters which are the subject of this Amendment, the terms and conditions of this
Amendment shall control. This Amendment shall be construed to be a part of the Purchase Agreement and shall be deemed incorporated
in the Purchase Agreement by this reference.


 






     

     

    

 


Seller and Purchaser have executed
this Amendment as of the Effective Date.


 


Seller:


 


RCM Firewheel, LLC,


a Texas limited liability company


 


	By:	/s/ Tim Coltart	 
	Name:	Tim Coltart	 
	Title:	President	 


 


Purchaser:


 


ArchCo Residential, LLC,


a Delaware limited liability company


 


	By:	/s/ Neil T. Brown	 
	Name: 	Neil T. Brown	 
	Title: 	Chief Executive Officer	 




 




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