Tar River/Wilson Acres - First Amendment to Contract



Exhibit 10(ii)(o)

 

FIRST AMENDMENT TO PURCHASE AND SALE CONTRACT

 

           
This First Amendment to Purchase and Sale Contract (this
“Amendment”) is made as of February 24, 2010 by and among AIMCO WILSON
ACRES, LLC, a Delaware limited liability company, and NEW SHELTER V
LIMITED PARTNERSHIP, a Delaware limited partnership (collectively
“Sellers”), and GOLDOLLER GREENVILLE I, LLC, a Delaware
limited liability company (“Purchaser”). 

W I T N E S S E T H:

           
WHEREAS, Sellers and Purchaser entered into that certain Purchase and
Sale Contract, dated as of February 9, 2010, with respect to the sale of certain
property described therein (the “Contract”); and

           
WHEREAS, Sellers and Purchaser desire to amend certain provisions of the
Contract.

           
NOW, THEREFORE, in consideration of the mutual covenants herein
contained, the sum of $10.00 and other good and valuable consideration, the
mutual receipt and legal sufficiency of which are hereby acknowledged, the
parties hereby agree as follows:

1.     
Capitalized Terms.     Capitalized terms used
in this Amendment shall have the meanings given to them in the Contract, except
as expressly otherwise defined herein.

2.     
Loan Assumption Application Submittal Deadline.  The Loan
Assumption Application Submittal Deadline, set forth in Section 4.5.3 of the
Contract, is hereby extended to 5:00 pm (EST) on March 3, 2010.

3.     
Miscellaneous.          
This Amendment (a)  supersedes all prior oral or written communications
and agreement between or among the parties with respect to the subject matter
hereof, and (b) may be executed in counterparts, each of which shall be
deemed an original and all of which, when taken together, shall constitute a
single instrument and may be delivered by facsimile transmission, and any such
facsimile transmitted Amendment shall have the same force and effect, and be as
binding, as if original signatures had been delivered.  As modified hereby,
all the terms of the Contract are hereby ratified and confirmed and shall
continue in full force and effect.

[Signature Page to Follow]


           
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of
the date and year hereinabove written.

 

Sellers:

AIMCO
WILSON ACRES, LLC, a Delaware limited liability company

 

By: 
AIMCO WILSON ACRES MANAGER, LLC, a Delaware limited liability company, its
manager

 

By:
AIMCO PROPERTIES, L.P., a Delaware limited partnership, its member

 

By:
AIMCO-GP, INC., a Delaware corporation, its general partner

 

By: 
/s/John Spiegleman

Name: 
John Spiegleman

Title: 
Senior Vice President

 

NEW
SHELTER V LIMITED PARTNERSHIP, a Delaware limited partnership

 

By: 
SHELTER V GP LIMITED PARTNERSHIP, a Delaware limited partnership, its general
partner

 

By: 
SHELTER REALTY V CORPORATION, a South Carolina corporation, its general
partner

 

By: 
/s/John Spiegleman

Name: 
John Spiegleman

Title: 
Senior Vice President

 

 

 

 

[Purchaser’s signature page follows]

 




Purchaser:

GOLDOLLER GREENVILLE I, LLC, a Delaware limited liability company 

By: 
/s/Richard Oller
Name:  Richard Oller
Title: 
President