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current deadline period and all prior deadline periods. For instance, if sixteen (16) certificates of occupancy are <br />received within sixteen (16) months after Closing, Buyer shall have no requirement to obtain any additional <br />certificates of occupancy within twenty-eight (28) months after Closing. <br />At Closing, a "Right of Re -Entry Agreement" must be executed, in substantially the same form as attached <br />hereto as Exhibit C, and recorded to the Property providing that, in the event any of the above deadlines are not <br />met, Seller has the right to reclaim title to the parcels for which certificates of occupancy have not been obtained, <br />or in the alternative, and at Seller's sole discretion, Buyer shall pay Seller $20,000 for each certificate of <br />occupancy that is not obtained pursuant to the deadlines set forth above. <br />Alternatives: <br />1) Motion to adopt Resolution #23-206 Approving First Amendment to Purchase Agreement for Portion <br />of Outlot A, Ramsey Properties Addition; Centra Homes LLC - (as presented); subject to City Attorney <br />Review <br />2) Motion to adopt Resolution #23-206 Approving First Amendment to Purchase Agreement for Portion <br />of Outlot A, Ramsey Properties Addition; Centra Homes LLC - (with changes); subject to City Attorney <br />Review <br />3) Something else <br />Funding Source: <br />N/A <br />Recommendation: <br />Motion to Resolution #23-206 Approving First Amendment to Purchase Agreement for Portion of Outlot <br />A, Ramsey Properties Addition; Centra Homes LLC - (as presented, Staff Recommendation); subject to <br />City Attorney Review. <br />Outcome/Action: <br />Motion to Resolution #23-206 Approving First Amendment to Purchase Agreement for Portion of Outlot <br />A, Ramsey Properties Addition; Centra Homes LLC - (as presented, Staff Recommendation); subject to <br />City Attorney Review. <br />Attachments <br />Site Location Map <br />ACTION - Resolution #23-206 <br />ACTION - First Amendment to PA <br />Reference - Original Purchase Agreement - Centra Homes (Executed) <br />Form Review <br />Inbox Reviewed By Date <br />Brian Hagen Brian Hagen 09/07/2023 01:36 PM <br />Form Started By: Sean Sullivan Started On: 08/25/2023 01:56 PM <br />Final Approval Date: 09/07/2023 <br />