2018 Sunridge Properties, Inc - Escrow 1st Supplement51351 Avenida Bermudas , La Quinta, CA 92253
Phone (760) 564-4044 Fax (760) 771-2999
DATE: June 28, 2018
FIRST SUPPLEMENT - VACANT LAND
Escrow Officer: Veronica Rodriguez Title Officer: Porsha Peterson / Josh Guzman
Escrow Associate: Rosie Ortega Title Order No.: 5690514
Escrow No.: FS2566 Title Company: First American Title
Property Address: A portion of 79523-79567 Highway 111,
La Quinta, CA 92253
FOUR SEASONS ESCROW, INC. IS LICENSED BY THE STATE OF CALIFORNIA, DEPARTMENT OF BUSINESS
OVERSIGHT LICENSE NO. 9632224.
FIRST SUPPLEMENT to Agreement for Purchase and Sale of Real Property and Instructions to Escrow dated June 20, 2018
(and Receipt for Deposit) by and between Sunridge Properties, Inc., an Arizona corporation, as Buyer and City of La Quinta, a
California Municipal Corporation, as Seller.
Confirmation of Purchase Terms:
MEMO:
CASH DOWN PAYMENT: $ 1,437,480.00
(of which the sum of $10,000.00 has been deposited into escrow
Buyer shall deposit an additional Fifty Thousand Dollars ($50,000.00) (Second
Deposit), by wire transfer on or before expiration of the Contingency Period )
TOTAL PURCHASE PRICE: $ 1,437,480.00
Confirmation of Acceptance Date: The undersigned Buyer and Seller hereby confirm the acceptance date of the above
referenced agreement as June 20, 2018.
Open€nn of Escrow: The opening of escrow is June 25, 2018.
Close of Escrow: Pursuant to the terms of the above referenced agreement, the close of escrow shall occur on or before thirty
(30) days after the expiration of the Contingency Period .
Escrow Holder Acknowleduemant: Buyer and Seller herein acknowledge that Escrow Holder shall act in accordance with the
Agreement for Purchase and Sale of Real Property and Instructions to Escrow dated June 20, 2018.
Fee Title: Fee title to the subject property of this escrow is vested in: City of La Quinta, a California Municipal Corporation. The
undersigned Seller(s) amend the Vacant Land Purchase Agreement and Joint Escrow Instructions (and Receipt for Deposit) to
provide for the above referenced vested party(ies)/entity as the Sellers.
Buver Showina Title Vested In: Sunridge Properties, Inc., an Arizona corporation
Buyer's vesting to be handed to Escrow Holder with signed escrow instructions. Said vesting shall be inserted on the grant deed
even though said deed has been prepared, signed and notarized by and on behalf of the Seller named herein.
The manner in which title is taken may have significant legal and tax consequences. Please contact your attorney or
CPA for questions directly related to vesting options.
Legal Description of Sub€ect Property:
Legal description will be validated and verified by the title company.
Said legal description is hereby approved by the undersigned principals.
Escrow No.: FS2566 Initials 1
Page- 1 PLEASE INITIAL
Reports, Inspections, Documents and Warrantv Plans: Escrow Holder shall receive the following report(s), inspection(s),
document(s) and warranty plan(s).
Preliminary Report and Policy(ies) of Title Insurance from: First American Title
Real Estate Withholdina Certificate: Escrow Holder is authorized and instructed to provide the Buyer with a copy of the
Seller's completed and signed California Form 593-C at the close of escrow.
General Provisions: The undersigned Buyer(s) and Seller(s) hereby acknowledge receipt of Escrow Holder's General
Provisions and acknowledge that said General Provisions are incorporated into these instructions.
€]elivery of Documents and Funds: Escrow Holder is instructed to forward all documents and funds to the Buyers(s) and
Seller(s) at the applicable addresses as instructed.
All documents and funds requiring delivery after close of escrow shall be forwarded to the addresses set forth on the
"Disbursement of Proceeds/Refund Instructions", or as subsequently instructed by Buyer(s), Seller(s) and their respective
agents.
All other terms and conditions remain in FULL force and effect.
Buyer(s) Seller(s)
Sunridge Properties, Inc., an Arizona corporation
By: Paul Welker
Its: CEO
Cit of La Quinta, a is Municipal Corporation
.iH k
By: Frank `p k
Its: City eager
Escrow No.: FS2566 nitials &2
Page- 2 PLEASE INMAL