FIRST AMENDMENT TO PNI AGREEMENT.DOCX

FIRST AMENDMENT TO
PURCHASE CONTRACT
C-18-13-005-3-02
DATE: October ___, 2013
SELLER: Phoenix Newspapers, INC, an Arizona corporation
BUYER: Maricopa County, Arizona, a political subdivision of the State of
Arizona
TITLE COMPANY: Security Title Agency
Escrow No. 15120452 – 015 JBA
RECITALS:
A. Buyer and Seller entered into that certain Purchase Contract dated April
10, 2013, providing for Buyer's purchase of certain real property described therein from
Seller (“Agreement”).
B. Buyer and Seller desire to enter into this First Amendment to Purchase
Contract (this “First Amendment”) in order to amend the Post-Closing Occupancy period
and establish consideration for extending the Post-Closing Occupancy period, as more
particularly set forth herein.
NOW, THEREFORE, for valuable consideration, the receipt and adequacy of which is
hereby acknowledged, the parties agree as follows:
1. Defined Terms and Section References. Except as otherwise defined in
this First Amendment, capitalized words and phrases shall have the same meanings as
set forth in the Agreement and references to numbered “Sections” shall refer to
Sections of the Agreement.
2. Post-Closing Occupancy. The Post Closing Occupancy (Section 14.20)
shall be deleted in its entirety and replaces with the following: “Seller shall have the
right to occupy the Property, post-closing for a period not to exceed one-hundred fifty
(150) days (‘Post-Closing Occupancy’). During the Post-Closing Occupancy, Seller
shall be responsible, at its expense, for insurance, real estate taxes, operation and
maintenance of the Property.”

3. Consideration for Extending Post-Closing Occupancy. Upon full
execution of this Amendment No. 1, Seller shall immediately pay to Buyer, as
consideration for increasing the Post-Closing Occupancy period to one-hundred fifty
(150) days, a payment of $12,500.00.
4. Counterparts. This First Amendment may be executed in any number of
counterparts, each of which will be an original, but all of which will constitute one and
the same instrument. In addition, this First Amendment may be executed and delivered
by facsimile and each facsimile copy will be treated as an original.
5. Merger. As amended by this First Amendment, the Agreement shall
remain in full force and effect.
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C-18-13-005-3-02
Dated the day and year first above written.
BUYER: SELLER:
MARICOPA COUNTY, ARIZONA, a Phoenix Newspapers, INC, an Arizona
political subdivision of the State of Arizona corporation
By: ____________________________ By: ____________________________
Chairman
Date: __________________________ Date:___________________________
ATTEST:
By: ____________________________
Clerk of the Board of Supervisors
APPROVED AS TO FORM: APPROVED AS TO FORM:
By: ____________________________ By: ____________________________
Deputy County Attorney SELLER’s Legal Counsel