EX-10.3



 Exhibit 10.3 
 SECOND AMENDMENT TO PURCHASE AGREEMENT 
 THIS
SECOND AMENDMENT TO PURCHASE AGREEMENT (this “Second Amendment”) is dated as of February 27, 2013 (the “Amendment Date”) by and among RANCON REALTY FUND V, a California limited partnership
(“Seller”), and 521 EAST 11TH ST.
LLC, a California limited liability company, and 1250 FAIRFAX LLC, a California limited liability company (together, “Buyer”). 

Recitals 

A. Seller and Buyer are parties to that certain Purchase Agreement dated as of February 13, 2013 (the “Initial
Agreement”), as amended by that certain First Amendment to Purchase Agreement dated as of February 15, 2013 (the “First Amendment” and together with the Initial Agreement, the “Purchase Agreement”),
whereby, upon the terms and conditions set forth therein, Seller agreed to sell and Buyer agreed to buy the Property described in the Purchase Agreement. 
 B. Seller and Buyer Parties now desire to amend the Purchase Agreement as set forth below. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties hereto agree that the Purchase Agreement
is hereby amended as follows: 
 1. Definitions. Capitalized terms used in this Second Amendment shall have the meanings set forth in the
Purchase Agreement, except as otherwise defined herein. 
 2. Extension of Closing Date. Pursuant to its rights under the First
Amendment, Seller has elected to extend the Closing Date to March 4, 2013. Accordingly, the definition of “Closing Date” in paragraph 15 of Addendum I to the Initial Agreement is hereby modified to read “March 4, 2013”.

 3. Miscellaneous. This Second Amendment may be executed in counterparts, including facsimile counterparts, each of which shall be
deemed an original, but all of which taken together shall constitute one and the same instrument. Capitalized terms used in this Second Amendment but not defined herein shall have the meanings given to such terms in the Purchase Agreement. Except as
specifically set forth in this Second Amendment, the Purchase Agreement shall be unmodified and shall remain in full force and effect. 

[SIGNATURES ON FOLLOWING PAGE] 

  
 Second
Amendment to Purchase Agreement 
 Page 1 of 2 








 IN WITNESS WHEREOF, the parties have executed this Second Amendment as of the date first set
forth above. 
  

					
	SELLER:
	
	RANCON REALTY FUND V, a California limited partnership
		
	By:	 	RANCON FINANCIAL CORPORATION, a California corporation, its general partner
			
		 	By:	 	 /s/ Jeff Comerchero — Attorney-in-fact

		 		 	Daniel L. Stephenson, President
		
	By:	 	 /s/ Jeff Comerchero — Attorney in fact

		 	Daniel L. Stephenson, its general partner
	
	BUYER:
	
	521 EAST 11TH ST. LLC, a California limited liability company
		
	By:	 	 /s/    Robert
Hanasab        

		 	Robert Hanasab, Authorized Agent
	
	1250 FAIRFAX LLC, a California limited liability company
		
	By:	 	 /s/    Robert
Hanasab        

		 	Robert Hanasab, Authorized Agent

 First American Title Insurance Company 
 The undersigned executes this Second Amendment for the purposes of acknowledging its agreement to serve as escrow agent in accordance with the terms of this Second Amendment. 

 

			
	First American Title Insurance Company
		
	By:	 	 /s/ Liz Zankich Hahn

		 	Liz Zankich Hahn, Senior Escrow Officer


  
 Second
Amendment to Purchase Agreement 
 Page 2 of 2