Exhibit 10.24
SECOND AMENDMENT OF Purchase and Sale CONTRACT
THIS SECOND AMENDMENT OF PURCHASE AND SALE CONTRACT(this “Amendment”) is entered into effective as of the 1st day of July, 2011 (“Effective Date”), by and betweenAPARTMENT LODGE 17A LLC, a Colorado limited liability company, having an address at c/o AIMCO, 4582 South Ulster Street Parkway, Suite 1100, Denver, Colorado 80237 (“Seller”), and FF REALTY LLC, a Delaware limited liability company, having a principal address at 5510 Morehouse Drive, Suite 200, San Diego, California 92121 (“Purchaser”).
RECITALS
A. Seller and Purchaser entered into that certain Purchase and Sale Contract, dated as of May 23, 2011 (as amended by that certain First Amendment to Purchase and Sale Contract dated as if June 3, 2011, collectively, the “Contract”), regarding real property located in the City and County of Denver, Colorado and more particularly described in the Contract.
B. Seller and Purchaser desire to amend the Contract subject to the terms and conditions described below.
C. All capitalized terms not otherwise defined in this Amendment shall have the meanings ascribed to them in the Contract.
NOW THEREFORE, for valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, Seller and Purchaser agree as follows:
agreements
5. No Further Modification. Except as modified by this Amendment, the Contract remains unmodified. The terms and provisions of the Contract as amended by this Amendment remain in full force and effect and are hereby ratified and confirmed.
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SELLER:
APARTMENT LODGE 17A LLC,
a Colorado limited liability company
By: FOX PARTNERS,
a California general partnership,
its manager
By: FOX CAPITAL MANAGEMENT CORPORATION,
a California corporation,
its managing general partner
By: /s/Trent A. Johnson
Name: Trent A. Johnson
Title: Vice President
FF REALTY LLC,
a Delaware limited liability company
By: /s/Jon A. MacDonald
Name: Jon A. MacDonald
Title: General Counsel