SECOND AMENDMENT
TO
PURCHASE AND SALE AGREEMENT
This Second Amendment to Purchase and Sale Agreement (herein called this “Amendment”) is made and entered into as of the 1st day of August, 2014, by and between those eight (8) certain entities executing below as “Seller” (herein collectively called “Seller”), and Strategic Storage Opportunities, LLC, a Delaware limited liability company (herein called “Purchaser”).
WITNESSETH:
WHEREAS, Seller and Purchaser heretofore entered into that certain Purchase and Sale Agreement dated July 7, 2014 (as amended by First Amendment to Purchase and Sale Agreement dated as of July 17, 2014, herein collectively called the “Contract”), respecting thirty two (32) certain parcels of improved real property located in California, Colorado, Illinois, Washington, Maryland, New Jersey and Michigan, all as more particularly described in the Contract; and
WHEREAS, Seller and Purchaser desire to amend the Contract for the purpose of extending the Approval Period under the Contract.
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.Approval Period. Seller and Purchaser hereby agree that the “Approval Period” (as defined in Section 4.1.1(A) of the Contract), is hereby extended so that it shall now expire at 5:00 p.m. central time on August 14, 2014.
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.
(e) For purposes of this Amendment, signatures delivered by facsimile or electronic mail shall be as binding as originals upon the parties so signing and delivering.
(f) In the event of a conflict between the terms of this Amendment and the terms of the Contract, the terms of this Amendment shall control.
(g) The captions and headings used in this Amendment are for convenience only and do not in any way restrict, modify or amplify the terms of this Amendment or the Contract.
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IN WITNESS WHEREOF, the parties hereto have executed this Amendment to be effective of the day and year first above written.
SELLER:
DSI Realty Income Fund IV, Ltd.,
a California limited partnership
| By: | DSI Properties, Inc., a California corporation, its general partner |
By:/s/ RICHARD CONWAY
Richard Conway
Executive Vice President
DSI Realty Income Fund V, Ltd.,
a California limited partnership
| By: | DSI Properties, Inc., a California corporation, its general partner |
By:/s/ RICHARD CONWAY
Richard Conway
Executive Vice President
DSI Realty Income Fund VI, Ltd.,
a California limited partnership
| By: | DSI Properties, Inc., a California corporation, its general partner |
By:/s/ RICHARD CONWAY
Richard Conway
Executive Vice President
DSI Realty Income Fund VII, Ltd.,
a California limited partnership
| By: | DSI Properties, Inc., a California corporation, its general partner |
By:/s/ RICHARD CONWAY
Richard Conway
Executive Vice President
DSI Realty Income Fund VIII, Ltd.,
a California limited partnership
| By: | DSI Properties, Inc., a California corporation, its general partner |
By:/s/ RICHARD CONWAY
Richard Conway
Executive Vice President
DSI Realty Income Fund IX, Ltd.,
a California limited partnership
| By: | DSI Properties, Inc., a California corporation, its general partner |
By:/s/ RICHARD CONWAY
Richard Conway
Executive Vice President
DSI Realty Income Fund X, Ltd.,
a California limited partnership
| By: | DSI Properties, Inc., a California corporation, its general partner |
By:/s/ RICHARD CONWAY
Richard Conway
Executive Vice President
DSI Realty Income Fund XI, Ltd.,
a California limited partnership
| By: | DSI Properties, Inc., a California corporation, its general partner |
By:/s/ RICHARD CONWAY
Richard Conway
Executive Vice President
PURCHASER:
Strategic Storage Opportunities, LLC,
a Delaware limited liability company
By:/s/ H. MICHAEL SCHWARTZ
H. Michael Schwartz
President
