Document:

Exhibit 10.78

  

   

  

  
    AMENDMENT TO REAL ESTATE PURCHASE AND SALE AGREEMENT

    CITYVIEW PROPERTY, CLARK COUNTY, NEVADA

    

    

    THIS AMENDMENT TO REAL ESTATE PURCHASE AND SALE AGREEMENT (this “Amendment”) is made and entered into as of October
        31, 2018 (the “Effective Date”), by and among Tharaldson Ethanol Plant I, LLC, a Nevada limited liability company (“TEP”), TMII South Tech, LLC, a Nevada limited liability company (“TMII”), C.Y. & R.I. Heritage Inn of Palmdale, Inc., a Nevada corporation (“Heritage Inn Palmdale”),

          C.Y. Heritage Inn of Dayton, Inc., a Nevada corporation (“Heritage Inn Davton”), and 4424 Polaris Avenue, LLC, a Nevada
        limited liability company (“4424 Polaris” and, together with TEP, TMII, Heritage Inn Palmdale and Heritage Inn Dayton, the “Seller”) and Brightline Holdings, LLC, a Delaware limited liability company (“Purchaser”).

    

    

    RECITALS

     
    

       

     
    A. Seller and Purchaser have previously entered into that certain Real Estate Purchase and Sale Agreement, dated September
        17, 2018, with respect to certain real property bearing Clark County Assessor Parcel Numbers 162-20-112-002, 162-20-112-003, 162-20-214-004, 162-20-214-003, 162-20-214-005, 162-20-214-001, 162-20-214-002 and 162-20-112-001 as described more fully
        therein (the “Agreement”).

    

    

    B. The parties hereto now desire to amend the Agreement as set forth below.

    

    

    AGREEMENT

     
    

       

     
    NOW, THEREFORE, in consideration of the mutual covenants and agreements of the parties hereto, and other good and valuable
        consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

    

    

    1. Recitals. The foregoing recitals are true and correct and are incorporated herein by this reference as though set forth in full.

    

    

    2. Capitalized Terms. All capitalized terms used herein shall have the meanings ascribed to them in the Agreement, unless otherwise
        defined herein.

    

    

    3. Amendment. Seller and Purchaser hereby amend the Agreement by deleting in its entirety and replacing the first sentence in Section

          5.3 with the following:

    

    

    “5.3. Title Objections. On or before November 16, 2018 (“Title Objection Date”), Purchaser shall notify the Seller in writing of any title exceptions or matters identified in the Commitment, the Exception Documents, or the Survey of which Purchaser
        disapproves (“Title Objection Notice”).”

    

    

    4. Conflict. This Amendment is and shall be construed as a
          part of the Agreement. In case of any inconsistency between this Amendment and the Agreement, the provisions containing such inconsistency shall first be reconciled with one another to the maximum extent possible, and then to the extent
        of any remaining inconsistency, the terms of this Amendment shall be controlling.

    
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    5. Force and Effect. Except as set forth in this Amendment, the terms and conditions of the Agreement shall remain unchanged and in full
        force and effect.

    

    

    6. Counterparts: Facsimile or Electronic Signature: Authority. The parties hereto agree that this Amendment may be executed in multiple
        counterparts which, when signed by all parties, shall constitute a binding agreement. The parties further agree that this Amendment may be executed and delivered by facsimile or electronic signature, and that any facsimile or electronic signature
        shall be binding upon the party providing such signature as if it were the party’s original signature.

    

    

    [Signatures appear on next page]

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

    

    

    	 	
            PURCHASER:

          
	 	 	 
	 	
            BRIGHTLINE HOLDINGS, LLC.,

          
	 	
            a Delaware limited liability company

          
	 	 	 
	 	
            By:

          	
            /s/ Kolleen Cobb

          
	 	
            Name:

          	
            Kolleen Cobb

          
	 	
            Title:

          	
            Vice President

          

    

    

    [Signatures Continue on Following Page]

    
      Page 3

      
        

    

    	 	
            SELLER:

          
	 	 	 
	 	
            THARALDSON ETHANOL PLANT I, LLC,

          
	 	
            a Nevada limited liability company

          
	 	 	 
	 	
            By:

          	
            /s/ Gary Tharaldson

          
	 	
            Name:

          	
            Gary Tharaldson

          
	 	
            Its:

          	
            Manager

          

    

    

    	 	
            TMII SOUTH TECH, LLC,

          
	 	
            a Nevada limited liability company

          
	 	 	 
	 	
            By:

          	
            /s/ Gary Tharaldson

          
	 	
            Name:

          	
            Gary Tharaldson

          
	 	
            Its:

          	
            Manager

          

    

    

    	 	
            C.Y. HERITAGE INN OF DAYTON, INC.,

          
	 	
            a Nevada corporation

          
	 	 	 
	 	
            By:

          	
            /s/ Gary Tharaldson

          
	 	
            Name:

          	
            Gary Tharaldson

          
	 	
            Its:

          	
            President

          

    

    

    	 	
            4424 POLARIS AVENUE, LLC

          
	 	
            a Nevada limited liability company

          
	 	 	 
	 	
            By:

          	
            /s/ Gary Tharaldson

          
	 	
            Name:

          	
            Gary Tharaldson

          
	 	
            Its:

          	
            Manager

          

    

    

    	 	
            C.Y. & R.I. HERITAGE INN OF

            PALMDALE, INC.

          
	 	
            a Nevada corporation

          
	 	 	 
	 	
            By:

          	
            /s/ Gary Tharaldson

          
	 	
            Name:

          	
            Gary Tharaldson

          
	 	
            Its:

          	
            President

          

    

    

  

  Page 4Exhibit 10.79

  

   

    

  SECOND AMENDMENT TO REAL ESTATE PURCHASE AND SALE AGREEMENT

  CITYVIEW PROPERTY, CLARK COUNTY, NEVADA

  

  

  THIS
        SECOND AMENDMENT TO REAL ESTATE PURCHASE

      AND SALE AGREEMENT (this “Amendment”) is made and entered into as of November  30, 2018 (the “Amendment Date”), by and among Tharaldson Ethanol Plant I, LLC, a Nevada limited liability company (“TEP”), TMII South Tech, LLC, a Nevada limited liability company (“TMII”), C.Y. & R.I. Heritage Inn of Palmdale, Inc., a Nevada corporation (“Heritage Inn Palmdale”), C.Y. Heritage Inn of Dayton, Inc., a Nevada corporation (“Heritage Inn Davton”), and 4424 Polaris Avenue, LLC, a Nevada limited liability
      company (“4424 Polaris” and, together with TEP, TMII, Heritage Inn Palmdale and Heritage Inn Dayton, the “Seller”) and Virgin Trains USA LLC f/k/a Brightline Holdings, LLC , a Delaware limited liability company (“Purchaser”).

  

  

  RECITALS

  

  

  
    
      A. Seller and Purchaser have previously entered into  that  certain  Real  Estate  Purchase and Sale Agreement, dated September 17, 2018, as amended  by  that  certain Amendment to Real Estate Purchase and Sale Agreement, dated as of October 31, 2018 , with respect to certain real property bearing Clark County Assessor Parcel
          Numbers 162-20-112-002 , 162-20-112-003, 162-20-214-004, 162-20-214-003, 162-20-214-005, 162-20-214-001, 162-20-214-002 and 162-20-112-001 as described more fully there in (as amended, the “Agreement”).

    

  

  

  

  
    
      B. The parties hereto now desire to amend the Agreement as set forth below.

    

  

  

  

  AGREEMENT

  

  

  NOW, THEREFORE, in consideration of the mutual covenants and agreements of the parties hereto, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

  

  

  1. Recitals. The foregoing recitals are true and correct and are incorporated herein by this reference as though set forth in full.

  

  

  
    
      2. Capitalized Terms. All capitalized terms used herein shall have the meanings ascribed to them in the Agreement, unless otherwise defined herein.

    

  

  

  

  
    
      3. Amendment. The Agreement shall be amended by deleting in its entirety and

            replacing the definition of Inspect ion Period in Section 2.13 of the Agreement with the following:

    

  

  

  

  “Inspection Period” shall mean the period commencing on the Effective Date and expiring at 12:00 p.m. (Pacific) on December 5, 2018.

  

  

  4. Conflict. 
        This Amendment is and shall be

      construed as a part of the Agreement. In case of any inconsistency between this Amendment and the Agreement, the provisions containing such inconsistency shall first be reconciled with one another to the maxim um extent possible, and then to

      the extent of any remaining inconsistency, the terms of this Amendment shall be controlling.

  

  

  
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      5. Force and Effect. Except as set forth in this Amendment, the terms and conditions of the Agreement shall remain unchanged and in full force and effect.

    

  

  

  

  
    
      
        
          6. Counterparts: Facsimile or Electronic Signature: Authority. The parties hereto agree that this Amendment may be executed in multiple counterparts which, when signed by all parties, shall constitute a binding agreement. The parties further agree that this Amendment may be executed and delivered by facsimile or electronic signature, and that any facsimile or electronic signature shall be binding upon the party providing such signature as if it were the party’s original signature.

        

      

    

  

  

  

  [Signatures appear on next page]

  

  

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

    

    

    
      	 	
              PURCHASER:

            
	 	 	 
	 	
              VIRGIN TRAINS USA LLC f/k/a

                

              BRIGHTLINE HOLDINGS, LLC

                

            
	 	
              a Delaware limited liability company

            
	 	 	 
	 	
              By:

            	
              /s/ Kolleen Cobb

            
	 	
              Name:

            	
              Kolleen Cobb

            
	 	
              Title:

            	
              Vice President

            

      

      

    

    [Signatures Continue on Following Page]

    
      
        

    

    
      
        	 	
                SELLER:

              
	 	 	 
	 	
                THARALDSON ETHANOL PLANT I, LLC,

              
	 	
                a Nevada limited liability company

              
	 	 	 
	 	
                By:

              	
                /s/ Gary Tharaldson

              
	 	
                Name:

              	
                Gary Tharaldson

              
	 	
                Its:

              	
                Manager

              

        

        

        	 	
                TMII SOUTH TECH, LLC,

              
	 	
                a Nevada limited liability company

              
	 	 	 
	 	
                By:

              	
                /s/ Gary Tharaldson

              
	 	
                Name:

              	
                Gary Tharaldson

              
	 	
                Its:

              	
                Manager

              

        

        

        	 	
                C.Y. HERITAGE INN OF DAYTON, INC.,

              
	 	
                a Nevada corporation

              
	 	 	 
	 	
                By:

              	
                /s/ Gary Tharaldson

              
	 	
                Name:

              	
                Gary Tharaldson

              
	 	
                Its:

              	
                President

              

        

        

        	 	
                4424 POLARIS AVENUE, LLC

              
	 	
                a Nevada limited liability company

              
	 	 	 
	 	
                By:

              	
                /s/ Gary Tharaldson

              
	 	
                Name:

              	
                Gary Tharaldson

              
	 	
                Its:

              	
                Manager

              

        

        

        	 	
                C.Y. & R.I. HERITAGE INN OF

                PALMDALE, INC.

              
	 	
                a Nevada corporation

              
	 	 	 
	 	
                By:

              	
                /s/ Gary Tharaldson

              
	 	
                Name:

              	
                Gary Tharaldson

              
	 	
                Its:

              	
                President

              

        

      

      
        
          

      

      
        Consent to Amendment

        

        

        Western Alliance Bank, an Arizona corporation, as lender to Seller, hereby consents to this Amendment.

        

        

        WESTERN ALLIANCE BANK,

        an Arizona corporation

        

        

        	By:	/s/ Dennis Balletto	 

        

        

        	
                Name:

              	
                Dennis Balletto

              	 

        

        

        	
                Its:

              	
                Senior Vice President

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