HomeMy WebLinkAboutAgreement A-19-486-1 with CMG Construction Management Inc. - SalePurchase Agreement.pdf1
2
3
Agreement No. 19 -486-1
FIRST AMENDMENT TO SALE/PURCHASE AGREEMENT
AND ESCROW INSTRUCTIONS
THIS FIRST AMENDMENT TO THE SALE/PURCHASE AGREEMENT AND ESCROW
4 INSTRUCTIONS ("First Amendment") is made and entered into this _S=t=h.,__ ___ day of November
5 ___ , 2019 ("Effective Date of First Amendment"), by and between the County of Fresno , a political
6 subdivision of the State of California ("Buyer''), and CMG Construction Management , Inc., a California
7 corporation ("Seller"). Seller and Buyer are sometimes collectively referred to herein as the "Parties," and
8 singularly as a "Party." Unless otherwise stated herein , capitalized terms shall have the same meaning as
9 stated in the Sale/Purchase Agreement, referenced below .
10 WITNESSETH:
11 WHEREAS, on September 24 , 2019, Buyer and Seller entered into that certain Sale/Purchase
12 Agreement and Escrow Instructions, Seller's Agreement No. 19-486 ("Sale/Purchase Agreement") for the
13 Seller's sale to Buyer of certain real property described therein, which real property is located at the
14 northeast corner of South Cedar Avenue and East Kings Canyon Road , County of Fresno;
15 WHEREAS , under Section 2.02 of the Sale/Purchase Agreement , Buyer, among other things ,
16 shall have until sixty (60) days from the Effective Date (described in the Sale/Purchase Agreement as the
17 ending date of the "Due Diligence Period ") to perform and complete all remaining due diligence regarding
18 the Real Property, as stated further therein;
19 WHEREAS, Buyer has determined the Due Diligence Period is insufficient for Buyer to
20 complete its due diligence , and would like to extend the Due Diligence Period , as provided herein;
21 WHEREAS , the Sale/Purchase Agreement describes the Buyer's lease to Seller of a portion
22 of the Real Property , which lease is entered into by Buyer and Seller , Buyer's Agreement No . 19-488
23 ("Lease ");
24 WHEREAS , the Lease was subsequently amended by the First Amendment to Lease
25 Agreement (which shall be collectively referred to hereinafter as "the Lease , as Amended"); and
26 WHEREAS, both Parties are agreeable to these amendments to the Sale/Purchase
27 Agreement.
28 NOW , THEREFORE , upon the Parties ' execution of this First Amendment , Buyer and Seller
-1-
1 IN WITNESS WHEREOF, the parties hereto have executed this First Amendment as of the day and
2 year first hereinabove written.
3 BUYER:
CMG CONSTRUCTION MANAGEMENT , INC .
4
5
6 Mark Stevenson , CEO
7 J.1--IY-!Tfr-~
8
9
10
11
12
13
14
15
16
17
18
19
20
2.1
22
23
24
25
26
27
28
FOR ACCOUNTING USE ONLY:
FUND:
SUBCLASS:
ORG :
ACCOUNT:
1020/Multiple
10000
8905/Multi pie
7294/Multiple
By:
-4-
SELLER:
COUNTY OF FRESNO
Nathan Magsig , Chairman of the Board of
Supervisors of the County of Fresno
ATTEST:
Bernice E. Seidel
Clerk of the Board of Supervisors
County of Fresno , State of California
Deputy 1