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FIRST AMENDMENT <br />TO <br />PURCHASE AGREEMENT <br />This is the First Amendment to the Purchase Agreement entered into by <br />and between PSD, LLC and the Ramsey Housing and Redevelopment <br />Authority dated August 06, 2014. All terms of the Purchase Agreement remain <br />in effect except as expressly modified below. <br />Dated: <br />Dated: <br />1. Term of Agreement. Paragraph 2(c) of the Purchase Agreement is <br />deleted and replaced with the following: <br />This Agreement shall continue in effect until December 29, 2014, <br />and shall terminate without notice if prior thereto Buyer has not <br />acquired the property. <br />2. Additional Contingency. A new Paragraph 3(n) is added: <br />Floor Area Ratio. The minimum Floor Area Ratio within the COR- <br />1 sub - district shall be modified from .75 to .65 or less. <br />3. Closing. The Closing Date in Paragraph 4 is changed from "no later <br />than August 11, 2014" to "no later than December 29, 2014." <br />4. Effective Date. This First Amendment is effective as of September 15, <br />2014. <br />, 2014 SELLER <br />Ramsey Housing and Redevelopment <br />Authority <br />By: <br />Its: <br />, 2014 BUYER <br />PSD, LLC <br />By: <br />Randy Backous, Chair <br />By: <br />Mathias Kuker, COO <br />