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HomeMy WebLinkAboutRed Cedar Amended and Restated Real Estate Purchase and Development Agreement - Fourth Amendment FOURTH AMENDMENT TO THE AMENDED— AND AND RESTATED REAL ESTATE PURCHASE AND DEVELOPMENT AGREEMENT This Fourth Amendment ("Amendment") is made to the Amended and Restated Real Estate Purchase and Development Agreement dated July 23, 2018, as amended by the First Amendment, Second Amendment, and Third Amendment (the "Agreement"), by and between the City of Lansing, a Michigan municipal corporation(the "City"),and Continental/Ferguson Lansing,LLC, a Delaware limited liability company("Developer"). WHEREAS, the Developer and the City entered into the Amended and Restated Real Estate Purchase and Development Agreement which was amended by the First Amendment to the Amended and Restated Real Estate Purchase and Development Agreement; and WHEREAS, the Second Amendment to the Amended and Restated Real Estate Purchase and Development Agreement removed the date of November 30, 2018 in Section 2.1 and replaced it with December 14, 2018; and WHEREAS, the Third Amendment to the Amended and Restated Real Estate Purchase and Development Agreement removed the date of December 14, 2018 in Section 2.1 and replaced it with January 11, 2019; and WHEREAS, the Developer and City are hereby agreeing to amend the Agreement according to the terms set forth herein. NOW, THEREFORE, in consideration of the mutual promises hereinafter contained and other good and valuable consideration, the parties agree as follows: 1. Section 2.1, is amended to remove the date of January 11, 2019, and replace it with February 11, 2019. 2. An electronic copy of a signature to this Amendment or the Agreement will be deemed the same as an original. 3. This Agreement may be executed in counterparts, each of which shall be an original and all of which should constitute the same instrument. 4. All other terms and conditions of the Agreement, except as modified herein, remain in full force and effect. [SIGNATURES ON FOLLOWING PAGE] Page 1 of 3 IN WITNESS WHEREOF, the Developer has executed this Fourth Amendment to the Amended and Restated Real Estate Purchase and Development Agreement, as of the date signed. CONTINENTAL/FERGUSON LANSING,LLC: By: Hallmark Lansing,LLC Its: Member i By: Franklin E. Kass ! Its: Member STATE OF OHIO ) )ss COUNTY OF FRANICL,IN ) The foregoing instrument was acknowledged before me this day of ,2019 by Franklin E. Kass, as Member of Hallmark Lansing, LLC as Member of Ferguson/Continental Lansing, LLC, by him to be his free act and voluntary deed. ,Notary Public County, My commission expires; CONTINENTAL/FERGUSON LANSING,LLC: By: Red Coda •Investor,LLC Its: Me'Pe 1 By: el I. Ferguson Its; Member STATE OF MICHIGAN ) )ss COUNTY OF INGRAM ) The foregoing instrument was acluiowledged before me this day of y �l ,2019 by Joel I, Ferguson, as Member of Red Cedar Investor,LLC as Member of Ferguson/Continental Lansing, LLC, by him to be his free act and voluntary deed. 1. Notary Public V i v i '-dunty, A My con ission expires: Page 2 of 3 IN WITNESS WHEREOF, the Developer has executed this Fourth Amendment to the Amended and Restated Real Estate Purchase and Development Agreement, as of the date signed. CONTINENTAL/FERGUSON LANSING,LLC: By: -Ialltnark Lan ng, LI C Its: Iember -A A "I.J By: 11ranklin E. 14 a(s Its: Member STATE OF OHIO ) )ss COUNTY OF FRANKLIN ) The foregoing instrument was acknowledged before me this day of ,2019 by Franklin E. Kass, as Member of Hallmark Lansing, LLC as Member of Ferguson/Continental Lansing, LLC,by him to be his free act and voluntary deed. , Notary Public County, My commission expires: CONTINENTAL/FERGUSON LANSING,LLC: By: Red Cedar Investor, LLC Its: Member By: Joel I. Ferguson Its: Member STATE OF MICHIGAN ) )ss COUNTY OF INGHAM ) The foregoing instrument was acknowledged before me this day of ,2019 by Joel I. Ferguson, as Member of Red Cedar Investor, LLC as Member of Ferguson/Continental Lansing, LLC, by him to be his free act and voluntary deed. Notary Public County, My commission expires: Page 2 of 3 IN WITNESS WHEREOF, the City has executed this Fourth Amendment to the Amended and Restated Real Estate Purchase and Development Agreement, as of the date signed. CITY OF LANSING: By: An c or Its: Mayor STATE OF MICHIGAN ) )ss COUNTY OF INGHAM ) The foregoing instrument was acknowledged before me this I l day of 111CL ,2019 by Andy Schor, as Mayor of the City of Lansing, by him to be his free act and voluntar deed. / t1l, jos"C- Notary Public /h County, My co mission expires: I hereby certify that funds are not required for this transaction: ,����,••..,���� •, E.IAWRF�� Finance Director/Controlle �' NOTMYPUSUC COUNTY OF MHAM . My Cmakslon Exphn Approved as to form only: Aar9intoCou*of P� OF MIC �AC *"C• ��' Ci orney, James Smiertka Page 3 of 3