Document:

First Amendment to Purchase and Sale Agreement and Scrow Instructions

 Exhibit 10.2 
 FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT 
 AND ESCROW
INSTRUCTIONS 
 THIS FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT AND ESCROW INSTRUCTIONS (this
“Amendment”) is made and entered into as of July 29, 2011 by and between YORK ASSOCIATES LIMITED PARTNERSHIP, a Virginia limited partnership (the “Seller”), and FP-1, LLC a Virginia limited liability
company, or its permitted assigns (the “Buyer”). 
 WITNESSETH: 

RECITALS: 
 R-1.
Seller and Buyer previously entered into that certain Purchase and Sale Agreement and Escrow Instructions dated as of July 15, 2011 (the “Purchase Agreement”), pursuant to which Seller agreed to sell to Buyer and Buyer agreed
to purchase from Seller certain real property located in Yorktown, Virginia, as more fully described in the Purchase Agreement (the “Property”). 
 R-2. Seller and Buyer desire to amend certain of the terms and provisions of the Purchase Agreement in conformity with the terms and provisions set forth below in this Amendment. 

NOW, THEREFORE, in consideration of the premises, the mutual covenants herein contained, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 1. Recitals.
The foregoing Recitals are hereby incorporated herein to the same extent as if set forth herein in full. 
 2. Defined
Terms. All capitalized terms used herein shall have the same meanings given to them in the Purchase Agreement, unless specific definitions for such terms are set forth herein. 

3. Legal Description. The legal description of the Property attached to the Purchase Agreement as Exhibit A is hereby
deleted and the legal description of the Property attached hereto as Exhibit A is hereby substituted in its place. 
 4.
Ratification of Purchase Agreement. Except as expressly amended pursuant to the terms of this Amendment, the Purchase Agreement shall remain in full force and effect in accordance with its original terms, and the Purchase Agreement, as
amended pursuant to this Amendment, is hereby ratified by Purchaser and Seller. 
 5. Conflicts. In the event that any of
the provisions of this Amendment conflict with 

  
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the provisions of the Purchase Agreement, the provisions of this Amendment shall govern and control. 
 6. Counterparts. To facilitate execution, this Amendment may be executed in as many counterparts as may be required; and it shall not be necessary that the signature of each party, or that the
signatures of all persons required to bind any party, appear on each counterpart; but it shall be sufficient that the signature of each party, or that the signatures of the persons required to bind any party, appear on one or more of such
counterparts. All counterparts shall collectively constitute a single agreement. Delivery of counterpart pages of this Amendment by pdf or similar electronic file shall be deemed delivery of original signatures hereunder, provided that each party
shall provide original pen and ink counterparts to the other party promptly after signature. 
 [Signatures Begin on Following
Page.] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Amendment under seal as their free
act and deed for the uses and purposes herein contained as of the day and year first-above written. 
  

					
	 SELLER:
  

YORK ASSOCIATES LIMITED PARTNERSHIP

			
	By:	 		 	/s/ Stanley R. Zupnik
	Name:	 		 	Stanley R. Zupnik
	Title:	 		 	General Partner
	
	 BUYER:
  

FP-1, LLC

		
	By:	 	DF FP-1 Manager Co., Inc., its Manager 
			
		 	By:	 	/s/ Wendy C. Drucker
		 	Name:	 	Wendy C. Drucker
		 	Title:	 	President

 EXHIBIT “A” 

LEGAL DESCRIPTION OF REAL PROPERTY 
 All that certain tract, piece or parcel of land lying, situate and being in the County of York, Virginia, being known, numbered and designated as “Parcel B-1” as shown on that certain plat
entitled, “Subdivision of Parcel B, (P.B. 8, P. 407; D.B. 746, P. 674; D.B. 257, P. 215), Property of Second York Limited Partnership, Bethel District-County of York, Virginia”, made by The Sirine Group, Ltd., dated November 11, 1995
and recorded in the Clerk’s Office of the Circuit Court of the County of York, in Plat Book 12, Page 371. 
 Said property is further
bounded and described as follows: 
 Commencing at the intersection of the centerline of First Avenue and the southerly right of way of State
Route NO. 134, thence South 66 degrees 24’ 27” E, a distance of 982.68 feet to the point of beginning, being an iron pipe set, and thence from the point of beginning, continuing along the aforesaid right of way line of State Route
No. 134, S 66 degrees 24’ 27” E a distance of 211.17 feet to an iron pipe set, thence S 62 degrees 24’ 12” E a distance of 100.24 feet to an iron pipe set, thence S 66 degrees 24’ 27” E a distance of 801.61 feet to
an iron pipe found, thence S 23 degrees 35’ 33” W a distance of 1034.69 feet to a 20” pine tree, thence N 73 degrees 02’ 07” W a distance of 660.41 feet to an iron pipe set, thence N 23 degrees 35’ 33” E a distance
of 412.00 feet to an iron pipe set, thence N 66 degrees 24’ 27” W a distance of 250.78 feet to an iron pipe set, thence N 23 degrees 35’ 33” E a distance of 35.91 feet to an iron pipe set point, thence N 66 degrees 24’
27” W a distance of 138.00 feet to an iron pipe set, thence N 23 degrees 35’ 33” E a distance of 70.00 feet to an iron pipe set, thence N 66 degrees 24’ 27” W a distance of 68.00 feet to an iron pipe found, thence N 23
degrees 35’ 33” E a distance of 600.00 feet to the point of beginning. Containing 1,012,672 square feet or 23.248 acres. 

  
 2Reinstatement and Second Amendment to Purchase and Sale Agreement

 Exhibit 10.3 
 REINSTATEMENT AND SECOND AMENDMENT OF 
 PURCHASE AND SALE
AGREEMENT AND ESCROW INSTRUCTIONS 
 THIS Reinstatement and Second Amendment of Purchase and Sale
Agreement and Escrow Instructions (the “Second Amendment”) is made as of this 16th day of August, 2011, by and between YORK ASSOCIATES LIMITED PARTNERSHIP, a Virginia limited partnership (“Seller”) and FP-1, LLC, a Virginia limited liability company, or its permitted assigns
(“Buyer”). 
 RECITALS 
  

	 	A.	Seller and Buyer entered into that certain Purchase and Sale Agreement and Escrow Instructions dated as of July 15, 2011, as amended by that certain First
Amendment to Purchase and Sale Agreement and Escrow Instructions between Buyer and Seller dated July 29, 2011 (as amended by the First Amendment, the “Agreement”). 

 

	 	B.	Article 3 of the Agreement provided that Buyer had a period from and after the date of the Agreement through and including 5 p.m. eastern time on August 15, 2011
(the “Due Diligence Period”) to examine, inspect and investigate the Property and other matters associated therewith and further provided that in the event Buyer did not provide written notice to Seller prior to expiration of the Due
Diligence Period of Buyer’s election to proceed, then Buyer would be deemed to have elected to terminate the Agreement. 

  

	 	C.	Buyer did not, prior to expiration of the Due Diligence Period, provide such written notice to Seller to proceed and the Agreement was, therefore, terminated.

  

	 	D.	Seller and Buyer wish to reinstate the Agreement and amend certain of its terms as hereafter set forth. 

NOW, THEREFORE, WITNESSETH: In consideration of Ten Dollars ($10) cash in hand, paid by Buyer to Seller, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged by Seller and Buyer, Seller and Buyer agree as follows: 
  

	 	1.	Capitalized Terms. Unless otherwise specified in this Second Amendment, words and phrases that are capitalized in this Second Amendment have the meanings given
to them in the Agreement. 

  

	 	2.	Amended Provisions. The Agreement is hereby amended as follows: 

  

	 	2.1	 The second sentence of Section 2.1 of the Agreement is hereby deleted and replaced in its entirety with the following: “The “Closing
Date” shall 

  
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be a date to be chosen by Buyer by written notice to Seller given no later than September 15, 2011, which Closing Date shall be no earlier than September 30, 2011 and no later than
October 31, 2011.” 

  

	 	2.2	Section 3.1 of the Agreement is hereby amended by extending the Due Diligence Period to 5 p.m. eastern time on August 29, 2011. 

 

	 	2.3	Section 3.2 of the Agreement is hereby deleted and replaced in its entirety with the following: 

3.2 Termination Right. In the event that, during the Due Diligence Period, Buyer determines in its sole discretion
that it desires to acquire the Property, Buyer shall provide written notice to Seller (prior to the expiration of the Due Diligence Period) of Buyer’s election to proceed “Notice to Proceed”). In the absence of the timely delivery by
Buyer of the Notice to Proceed, Buyer shall be deemed to have elected to terminate this Agreement by reason of its rights to do so under this Section 3.2, in which event, subject to any obligations which expressly survive termination of this
Agreement, this Agreement shall terminate, the Deposit shall be delivered to Buyer and thereupon neither party shall have any further rights or obligations to the other hereunder. If Buyer provides the Notice to Proceed to Seller prior to expiration
of the Due Diligence Period, then this Agreement shall remain in full force and effect and the parties shall proceed to Closing in the manner set forth herein; provided, however, that in the event Buyer has given Seller the Notice to Proceed, Buyer
shall have a period (the “Financing Contingency Period”) through and including 5 p.m. eastern time on September 15, 2011, to identify financing to acquire the Property on terms reasonably acceptable to Buyer. At such time as Buyer has
received a commitment from a lender on terms reasonably acceptable to Buyer for the purpose of financing acquisition of the Property, Buyer shall notify Seller by written notice (the “Financing Notice”) that Buyer has a satisfactory
commitment for such financing. At the time of delivery to Seller of the Financing Notice, the Financing Contingency Period shall terminate. In the absence of the timely delivered by Buyer of the Financing Notice, Buyer shall be deemed to have
elected to terminate this Agreement by reason of its rights to do so under this Section 3.2, in which event, subject to any obligations which expressly survive termination of this Agreement, this Agreement shall 

  
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terminate, the Deposit shall be delivered to Buyer and thereupon neither party shall have any further rights or obligations to the other hereunder. If Buyer does not terminate this Agreement
pursuant to this Section 3.2, then this Agreement shall remain in full force and effect and the parties shall proceed to Closing in the manner set forth herein. If Buyer is deemed to have terminated this Agreement pursuant to this
Section 3,2, Buyer shall return to Seller all of Seller’s documents previously delivered to Buyer, and Buyer shall repair any damage to the Property caused by its studies and investigations. 

 

	 	3.	Ratification of Agreement. Except as specifically amended hereby, the terms and provisions of the Agreement are ratified and confirmed by Seller and Buyer.
Hereafter, all references in the Agreement or any documents referred to in the Agreement shall mean the Agreement as amended by this Second Amendment. 

  

	 	4.	Execution. This Second Amendment may be executed by handwritten signing or by electronically transmitted facsimile of such signing, either of which shall create
a validly executed document, in any number of counterparts, each of which shall be deemed an original and such counterparts together shall be deemed and constitute one and the same Second Amendment . 

IN WITNESS WHEREOF, Buyer and Seller have executed this Second Amendment as of the date first above written. 

 

					
	SELLER:
	
	YORK ASSOCIATES LIMITED PARTNERSHIP
		
	By:	 	/s/ Stanley R. Zupnik
		 	Stanley R. Zupnik, General Partner
	
	BUYER:
	
	FP-1, LLC
		
	By:  	 	DF FP-1 Manager Co., Inc., its Manager
			
		 	By:	 	/s/ Wendy C. Drucker
		 		 	Wendy C. Drucker, President

  
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