HomeMy WebLinkAboutFirst Amendment to Purchase & Sale Agreement (Agreement approved by 2024-R-17) FIRST AMENDMENT TO
PURCHASE AND SALE AGREEMENT
This FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT (this
"Amendment") is entered into by and between (i) DEVELOP LAND LLC, an Indiana limited
liability company ("Purchaser"), and (ii) JEFFERSONVILLE REDEVELOPMENT
COMMISSION, a municipal body politic of the State of Indiana ("Seller"), effective as of the
date executed by both Purchaser and Seller(the"Effective Date").
RECITALS
A. Purchaser and Seller entered into that certain Purchase and Sale Agreement, dated
as of November 20, 2024 (the "Agreement"), with regard to certain property located in the City
of Jeffersonville, Clark County, State of Indiana, and more particularly described in the
Agreement (the "Property"). Defined terms herein shall have the same meanings as set forth in
the Agreement unless otherwise provided herein.
B. In order to provide additional time for the City to create a residential tax
increment fmance (TIF) district, inclusive of the Property, to allow for Seller's performance of
its obligations under the Development Agreement, the parties have agreed to amend the
Agreement to extend the Closing Date to June 13, 2025, subject to the terms and conditions
herein set forth.
AGREEMENT
NOW, THEREFORE, for and in consideration of the foregoing premises and other
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and
Purchaser hereby agree as follows:
1. Incorporation of Recitals. The recitals set forth above are material to this
Amendment and incorporated herein by reference.
2. Closing Date Extension. Section 12(a) of the Agreement is hereby deleted in its
entirety and amended to state as follows:
(a) Close of Purchase/Sale. The closing of the purchase and
sale of the Property pursuant to this Agreement (the "Closing") shall take
place on Friday, June 13, 2025, or such earlier date as mutually agreed by
both Purchaser and Seller(the"Closing Date").
3. Full Force and Effect. Except as herein modified and amended, the terms and
conditions of the Agreement are hereby ratified and confirmed and shall remain in full force and
effect.
4. Headings. The headings of the Sections, subsections, paragraphs and
subparagraphs hereof are provided for convenience of reference only, and shall not be considered
in construing their contents.
0152274.0785405 4933-8533-1999v1
5. Governing Law. This Amendment shall be governed by and construed in
accordance with the laws of the State of Indiana.
6. Counterparts; Facsimile/Electronic Signatures. This Amendment may be
executed in any number of counterparts, provided each of the parties hereto execute at least one
counterpart; each such counterpart hereof shall be deemed to be an original instrument, but all
such counterparts together shall constitute but one agreement. This Amendment may be
executed manually or electronically. Executed counterparts of this Amendment may be
exchanged physically or electronically.
[SIGNATURE PAGE FOLLOWS]
2
IN WITNESS WHEREOF, the parties hereto have executed this Amendment on the
dates set forth below, effective as of the Effective Date.
PURCHASER:
DEVELOP LAND LLC,
an Indiana limite liability company
By: KA,
J hua Hi lman, Member
Date: 212-g , 2025
SELLER:
JEFFERSONVILLE REDEVELOPMENT
COMMISSION, a municipal body politic of the
State of Ifidiana '
By:
Scott Havtkins, President
Date: Z-/ , 2025
Signature Page to First Amendment to Purchase and Sale Agreement