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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. <br /> Recitals <br /> 1. The Buyer desires an extension of the Inspection Period, as that term is defined in <br /> 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 /> Af4reement <br /> 1. EXTENSION OF INSPECTION PERIOD. <br /> a. The original Inspection Period termination date of September 16, 2016, set <br /> forth in section 8 of the Purchase Agreement, is hereby replaced with a <br /> termination date of November 16, 2016. <br /> b. Buyer acknowledges that the original $5,000 of Earnest Money previously <br /> deposited with the Escrow Agent will become non-refundable as of <br /> November 16, 2016. <br /> c. In consideration for extending the Inspection Period, Buyer shall deposit an <br /> additional $2,500 with the Escrow Agent on or before September 16, 2016. <br /> The additional $2,500 of Earnest Money is non-refundable upon deposit <br /> with the Escrow Agent. <br /> d. An additional 60-day extension (to January 16, 2017), may be requested in <br /> writing by Buyer on or before November 16, 2016, in which event Buyer <br /> shall deposit an additional $2,500 of Earnest Money with the Escrow Agent <br /> by November 16, 2016. 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 /> 2. REMAINING TERMS. All other provisions of the Purchase Agreement remain <br /> unchanged except to the extent inconsistent with the terms of this Amendment. <br />