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SECOND AMENDMENT <br /> TO <br /> PURCHASE AGREEMENT <br /> This is an Amendment to the attached Purchase Agreement by and between the <br /> City of Ramsey and Lifestyle Properties, Inc. dated May 10, 2016, as amended by the <br /> Amendment to Purchase Agreement dated November 16, 2016. <br /> Recitals <br /> 1. The Buyer desires another extension of the Inspection Period, as that term is <br /> defined in section 8 of the Purchase Agreement. <br /> 2. The Seller is willing to provide an extension in consideration for additional <br /> Earnest Money, pursuant to the terms set forth below. <br /> Agreement <br /> 1. EXTENSION OF INSPECTION PERIOD. <br /> a. The amended Inspection Period termination date of January 16, 2017, is <br /> hereby replaced with a termination date of March 16, 2017. <br /> b. Buyer acknowledges that the original $5,000 of Earnest Money, as well as <br /> the additional $2,500 for the November 16, 2016 extension and the <br /> additional $2,500 for the January 16, 2017, extension, previously deposited <br /> with the Escrow Agent, are all non-refundable. <br /> c. In consideration for extending the Inspection Period to March 16, 2'017, <br /> Buyer shall deposit an additional $2,500 with the Escrow Agent on or <br /> before January 16, 2017. The additional $2,500 of Earnest Money is non- <br /> refundable upon deposit with the Escrow Agent. <br /> d. An additional 60-day extension(to May 16, 2017), may be requested in <br /> writing by Buyer on or before March 16, 2017, in which event Buyer shall <br /> deposit an additional $2,500 of Earnest Money with the Escrow Agent by <br /> March 16, 2017. The additional $2,500 of Earnest Money is non- <br /> refundable upon deposit with the Escrow Agent. <br /> e. If Buyer does not deposit the additional Earnest Money with Escrow Agent <br /> as required above, then Seller may terminate the Purchase Agreement by <br /> written notice to Buyer. <br />