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THIRD AMENDMENT <br /> TO <br /> PURCHASE AGREEMENT <br /> (Assignment Approval) <br /> This is the Third Amendment to the attached Purchase Agreement by and between <br /> the City of Ramsey and Lifestyle Properties, Inc. dated May 10, 2016, as amended by <br /> Amendment to Purchase Agreement dated November 16, 2016, and the Second <br /> Amendment to Purchase Agreement dated January 13, 2017. <br /> Recitals <br /> 1. The Buyer desires to assign its entire interest in the Purchase Agreement, as <br /> amended, and all rights and obligations contained therein, to Morning Sun <br /> Homes, Inc. ("Assignee"). <br /> 2. Assignee desires to assume the Purchase Agreement, as amended, from Buyer, <br /> including all of Buyer's rights and obligations contained therein. <br /> 3. Seller is amenable to the assignment from Buyer to Assignee, subject to the terms <br /> set forth below. <br /> Agreement <br /> 1. ASSIGNMENT APPROVAL. Seller hereby approves the assignment of the <br /> Purchase Agreement, as amended, from Buyer to Assignee, subject to the <br /> following: <br /> a. All of Buyer's rights and obligations shall transfer to Assignee in their <br /> entirety. Assignee shall be fully responsible for fulfilling the terms and <br /> conditions of the Purchase Agreement, as amended, in the same manner as <br /> would Buyer had the Purchase Agreement not been assigned, unless <br /> otherwise agreed to in writing by Seller. <br /> b. Any and all Earnest Money deposits made by Buyer to the Escrow Agent <br /> shall transfer to Assignee, to the extent said deposits have not already <br /> become non-refundable under the terms of the Purchase Agreement, as <br /> amended. Buyer hereby relinquishes all right, title and interest to the <br /> Earnest Money. To the extent required by the Escrow Agent, Buyer and <br /> Assignee shall execute documentation evincing the transfer to the Escrow <br /> Agent's satisfaction. <br />