Exhibit 10.43
SECOND AMENDMENT TO
PURCHASE AND SALE CONTRACT
THIS SECOND AMENDMENT TO PURCHASE AND SALE CONTRACT (this "Second Amendment") is made and entered into this 29th day of March, 2010 (the "Second Amendment Date"), by and amongANGELES INCOME PROPERTIES, LTD. 6, a California limited partnership, having an address at 4582 South Ulster Street Parkway, Suite 1100, Denver, Colorado 80237 ("Seller") andHOMESTEAD ON LAKE LANSING, LLC, a Michigan limited liability company, having a principal address at 1575 Watertower Place, East Lansing, Michigan 48823("Purchaser").
RECITALS:
WHEREAS, Seller and Purchaser entered into that certain Purchase and Sale Contract dated October 26, 2009, as reinstated and amended by that certain Reinstatement and First Amendment to Purchase and Sale Contract dated February 3, 2010 (as amended, the "Contract"), for certain real property situated in the County of Ingham, State of Michigan, commonly known as Homestead Apartments, and more specifically described in the Contract (the "Property"); and
WHEREAS, Seller and Purchaser desire to ratify the Contract and amend the Contract on the terms and conditions set forth below.
AGREEMENT:
NOW, THEREFORE, in consideration of the mutual covenants set forth in the Contract and herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Purchaser agree to amend the Contract as follows:
1. Closing Proration. Seller and Purchaser agree that Seller shall be entitled to a credit at Closing in an amount equal to Six Thousand Dollars and 00/100 ($6,000.00) for certain work at the Property required by Purchaser's Senior Financing Lender, which credit shall be evidenced in the Proration Schedule.
2. General Provisions. The following provisions shall apply with respect to this Second Amendment:
(c) In the event of any conflict between the Contract and this Second Amendment, the terms and conditions of this Second Amendment shall control.
NOW, THEREFORE, the parties hereto have executed this Second Amendment as of the Second Amendment Date.
SELLER:
ANGELES INCOME PROPERTIES, LTD. 6,
a California limited partnership
By: ANGELES REALTY CORPORATION II,
a California corporation,
its general partner
By: /s/John Spiegleman
Name: John Spiegleman
Title: Senior Vice President