Exhibit 10.9
FIRST AMENDMENT
TO
PURCHASE AND SALE AGREEMENT
THIS FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT (herein called this “Amendment”) is made and entered into to be effective as of the 9th day of April, 2021, by and between Durango Square LLC, a Nevada limited liability company(“Seller”), and SST II Acquisitions, LLC, a Delaware limited liability company (“Purchaser”).
W I T N E S S E T H:
WHEREAS, Seller and Purchaser heretofore entered into that certain Purchase and Sale Agreement dated effective as of March 19, 2021 (herein, the “Contract”), respecting that certain property located at 8570 S. Durango Drive, Las Vegas, Nevada, as more particularly described in the Contract; and
WHEREAS, Seller and Purchaser desire to modify the Contract in certain respects, all as more particularly set forth below.
NOW, THEREFORE, for and in consideration of the foregoing premises, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto do hereby agree as follows:
1. Due Diligence Receipt Date. Seller and Purchaser hereby agree that the “Due Diligence Receipt Date”, as referenced in Section 4.1 of the Contract, shall be April 1, 2021. Furthermore, based upon the foregoing establishment of the Due Diligence Receipt Date, the parties agree that (i) the Approval Period shall expire at 5:00 p.m. Central time on May 17, 2021, (ii) in the event that Purchaser delivers the Closing Notice, the Additional Deposit shall be due not later than May 20, 2021, and (iii) assuming all conditions have been satisfied and the Contract has not otherwise been terminated, the Closing Date shall be June 1, 2021.
2. Miscellaneous.
(a) Seller and Purchaser hereby ratify the Contract in accordance with its terms, as modified hereby.
(b) To the extent not otherwise defined herein, all capitalized terms used in this Amendment shall have the meanings ascribed to them in the Contract.
(c) This Amendment shall be binding upon the parties hereto and their respective successors and permitted assigns.
(d) This Amendment may be executed in a number of identical counterparts. If so executed, each of such counterparts shall be deemed an original for all purposes, and such counterparts shall, collectively, constitute one agreement.
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