Exhibit 10.1B
FIRST AMENDMENT TO REAL ESTATE PURCHASE AGREEMENT
THIS FIRST AMENDMENT TO REAL ESTATE PURCHASE AGREEMENT (the "Amendment") is made
and entered into as of the 16th day of March, 2015, by and among JAN MALCOLM
JONES, JR., INDIVIDUALLY, RANDALL THOMAS SKINNER, INDIVIDUALLY, EDWARD SKINNER
JONES, AS TRUSTEE OF THE EDWARD SKINNER JONES REVOCABLE LIVING TRUST DATED
JANUARY 31, 1989, ARTHUR CHESTER SKINNER, III, AS TRUSTEE OF THE ARTHUR CHESTER
SKINNER, III REVOCABLE LIVING TRUST DATED FEBRUARY 10, 1984, AS AMENDED,
VIRGINIA JONES CHAREST, FORMERLY KNOWN AS VIRGINIA SKINNER JONES, AS TRUSTEE OF
THE VIRGINIA SKINNER JONES LIVING TRUST DATED SEPTEMBER 16, 1998, DAVID GODFREY
SKINNER, AS TRUSTEE OF THE DAVID GODFREY SKINNER REVOCABLE LIVING TRUST DATED
MARCH 12, 1986, AS AMENDED, PATRICIA SKINNER CAMPBELL, AS TRUSTEE OF THE
PATRICIA SKINNER CAMPBELL REVOCABLE TRUST AGREEMENT DATED OCTOBER 24, 2002, AS
AMENDED, CHRISTOPHER FORREST SKINNER, AS TRUSTEE OF THE CHRISTOPHER FORREST
SKINNER REVOCABLE LIVING TRUST DATED NOVEMBER 28, 1989, and KATHERINE SKINNER
NEWTON, AS TRUSTEE OF THE KATHERINE SKINNER NEWTON LIVING TRUST AGREEMENT DATED
MARCH 31, 1987, as amended, owners of record (hereinafter collectively referred
to as "SELLER"), and PREFERRED GROWTH PROPERTIES, LLC, a Delaware limited
liability company, or its assigns (hereinafter referred to as "BUYER")
WHEREAS, the Seller and Buyer entered into that certain Real Estate Purchase
Agreement dated December 15, 2015 (the "Agreement") for the sale and purchase of
that certain real estate located in City of Jacksonville, Duval County, Florida,
as more particularly defined in the Agreement (the "Property"); and
WHEREAS, the Buyer desires to extend the Inspection Period to allow additional
time to complete its due diligence; and
WHEREAS, the parties have agreed to amend the Agreement as set forth below;
NOW, THEREFORE, in consideration of the foregoing recitals, the mutual covenants
and agreements hereinafter set forth and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties hereto
agree as follows:
1. Inspection Period. The Inspection Period is hereby extended through and
including Friday, May 15, 2015.
2. Paragraph 11 of the Agreement is hereby amended and restated in its entirety
as follows:
11. Zoning. Buyer shall engage Rogers Towers, P.A., or another agent acceptable
to Seller who, on behalf and at the expense of Buyer, shall file and prosecute
an application with the City to rezone the Property, obtain the concurrency
certificate and all other entitlements needed to allow Buyer's Property Use (the
"Rezoning"). If Buyer engages Rogers Towers, P.A. to assist with the Rezoning,
the legal expense of applying for and prosecuting the Rezoning shall be paid
from Escrow Agent's portion of the premium for issuance of the Title Policy.
Buyer shall file the application for Rezoning within seventy-five (75) days of
the Effective Date to allow Buyer to obtain City Council approval of the
Rezoning no later than two hundred ten (210) days after the Effective Date (the
"Zoning Period"). After filing, Buyer shall use commercially reasonable efforts
to prosecute such Rezoning application to completion.