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3. Buyer acknowledges that the Contingencies, Inspection Period, and Title <br />Examination pursuant to Section 4 and Section 6 of the Purchase Agreement have <br />expired. <br />4. Notwithstanding Section 3 or any other provisions in the Purchase Agreement: <br />a. Within ten (10) business days of execution of this Amendment, Buyer shall <br />deposit an additional $20,000.00 of Earnest Money with the Title <br />Company, and $5,000.00 of Earnest Money will immediately become non- <br />refundable. <br />b. Future Closing Date Extensions. <br />i. In the event Buyer desires to extend the Closing Date deadline in the <br />future, Buyer is required to provide written notice of the extension <br />prior to the expiration of this agreement. <br />ii. Each future extension to the Closing Date shall be two month terms. <br />iii. Each future extension of the Closing Date will result in $5,000 of the <br />Existing Earnest money becoming immediately non-refundable. <br />iv. A maximum of three future extensions will be allowed (six months, <br />$15,000 of Existing Earnest money becoming immediately non- <br />refundable) <br />5. All other terms of the Purchase Agreement remain unchanged except to the extent <br />inconsistent with this First Amendment. <br />The City of Ramsey, Minnesota <br />By. <br />B <br />Sarah Strommen,-Nlayor <br />Kurt's G. Ulrich <br />City Administrator <br />GS Land, LLC <br />By: <br />Dated: C/ , 2017 <br />Dated: <br />2 <br />, 2017 <br />, 2017 <br />