968-V.T. Inc.-1st Amendment FIRST AMENDMENT TO
SALE AND PURCHASE AGREEMENT
THIS AGREEMENT ("First Amendment"), made and entered into this 2_~ day of May,
2003, by and between the City of Sanford, Florida ("Seller") and V. T., Inc. of Missouri a/ka/V. T.,
Inc. ("Purchaser" or "Buyer").
WITNESSETH:
WHEREAS, Seller and Purchaser entered into and executed a certain Sale and Purchase
Agreement effective April 1, 2003 ("Contract"), covering the land legally described in Exhibit "A",
attached hereto and incorporated herein by reference, located in Sanford, Florida ("Property");
WHEREAS, Seller and Purchaser desire to amend the contract as provided below.
NOW THEREFORE, for and in consideration of the above premises and other good and
valuable consideration, the parties hereto hereby agree to amend the Contract as follows:
1. Paragraph 11 of the Contract is hereby deleted in its entirety and the following
shall be substituted in it place:
"11. ~ The closing of this Contract ("Closing") shall occur at the
law offices of Stenstrom, McIntosh, Colbert, Whigham & Simmons, P.A., 200 W. First Street, Ste.
22, Sanford, Florida, on a date which is the earlier of(a) ten (10) days following the date the
Property becomes subject to a final and non-appeaiable zoning ordinance issued by the City
Commission of the City of Sanford, Florida, zoning the Property as a PD, Planned Development
zoning district, permitting the Property and the Abutting Parcel (defined below in paragraph 12) to
be used for the sale, repair and servicing of automobiles and vehicles (the "Zoning Contingency")
or (b) the date set forth in a notice from Purchaser to Seller advising Seller the Purchaser is waiving
the Zoning Contingency and that Purchaser desires to proceed to the Closing of this Contract;
provided, however, notwithstanding the foregoing, if Closing has not occurred on or before
December 1, 2003, the Seller may elect to opt out of this Contract by providing Purchaser with
written notice on or before December 5, 2003, of its intent to terminate this Contract if Closing does
not occur on or before December 15, 2003. If Closing does not occur within said period at no fault
of Purchaser, the Deposit shall be returned to Purchaser and the parties shall have no further
obligations to one another. The Purchaser shall make a good faith effort to satisfy the Zoning
Contingency and to close this Contract as expeditiously as reasonably possible."
2. Except as modified by this First Amendment, all of the terms of the Contract shall
remain in full force and effect and are hereby ratified and confirmed by the parties subject to the terms
of this First Amendment. This First Amendment may be executed in counterparts, each of which shall
be deemed an original, but all of which shall constitute one First Amendment. Seller and Purchaser
agree facsimile signatures on behalf of Seller and Purchaser shall be treated as true and original
signatures for purposes of this First Amendment and shall be fully enforceable.
IN WITNESS WHEREOF, the parties have executed this First Amendment effective on the
date first set forth above.
"Seller"
City of Sanford, Florida
a Florida Corporation
Attest:
hmet--K-4~mgh,,, v, City Clerk
Date Executed: ~ - 2-_3 ,2003
"Buyer"
V. T., Inc. of Missouri a/k/a V. T., Inc.
Its: ~l.~-
Dated: .5'~/--~) ~..
2
M~R-03-2003 HON 10:06 AM STENSTROM, HCINTOSH,COLBE F~ NO, 407 330 2379 ?, 02/02
LEGAL DESCRIPTION:
The east 5 chains of the Southwest one quarter of Section 32, Township 19 South, Range
30 East, lying north of Rinehart Road.
'7"