EX-10.115 99 f10q0922ex10-115_manufactur.htm FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT, DATED AUGUST 26, 2022, BETWEEN MHP PURSUITS LLC AND STATESVILLE ESTATES MHC LLC, NORTH SIDE MHC LLC, TIMBER VIEW LLC

Exhibit 10.115

 

FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT

 

The Purchase and Sale agreement, dated May 17, 2022, is hereby amended and made as of August 26, 2022 (“First Amendment”), by and between Statesville Estates MHC, LLC, a North Carolina limited liability company; North Side MHC, LLC, a South Carolina limited liability company; and Timber View LLC, a North Carolina limited liability company; (collectively “Seller” or “Sellers”); and MHP PURSUITS LLC, a North Carolina limited liability company (“Purchaser”), and provides as follows:

 

RECITALS

 

A. Seller and Purchaser have entered into that certain Purchase and Sale Agreement effective as of May 17, 2022 (the “Purchase Agreement”), pursuant to which Seller agreed to sell to Purchaser certain real and personal property as more particularly described in the Purchase Agreement.

 

B. The parties hereto desire to amend the terms of the Purchase Agreement to extend the Closing Date, and to that end have entered into this Amendment.

 

AMENDMENT

 

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

 

1. Capitalized Terms. Capitalized terms used herein, unless otherwise defined in this Amendment, shall have the same meanings as those given in the Purchase Agreement.

 

2. Closing Date. The current Closing Date of September 1, 2022 August 8, 2022 is hereby extended until September 15, 2022.

 

3.  Earnest Money. Purchaser shall deposit an additional $20,000.00 into escrow. This additional amount of money shall be non-refundable.

 

4. Effect of Amendment; Ratification. The parties hereby acknowledge and agree that, except as provided in this Amendment, the Purchase Agreement has not been modified, amended, canceled, terminated, released, superseded or otherwise rendered of no force or effect. The Purchase Agreement as hereby amended is hereby ratified and confirmed by the parties hereto and every provision, covenant, condition, obligation, right, term and power contained in and under the Purchase Agreement, as amended herein, shall continue in full force and effect, affected by this Amendment only to the extent of the amendments and modifications set forth above, and each shall continue to be binding upon and inure to the benefit of the successors and assigns of each party hereto. In the event of a conflict between the terms of the Purchase Agreement and this Amendment, this Amendment shall control.

 

5. Governing Law; Counterparts. This Amendment shall be governed by, and construed in accordance with, the laws of the State of North Carolina, without giving effect to any conflict or choice of law provision that would result in the imposition of another state’s law. This Amendment may be executed in any number of counterparts, each of which shall be an original and all of which, when taken together, shall constitute one agreement. Signatures transmitted via facsimile or electronic mail shall be deemed originals.

 

REMAINDER OF PAGE LEFT INTENTIONALLY BLANK

SIGNATURE PAGE TO FOLLOW

 

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SIGNATURE PAGE TO FIRST AMENDMENT TO purchase AND SALE AGREEMENT

 

IN WITNESS WHEREOF, the parties have executed this First Amendment to Purchase and Sale Agreement pursuant to due authority as of the date first above written.

 

  PURCHASER:
   
  MHP PURSUITS LLC,
  a North Carolina limited liability company
   
  By: /s/ Adam Martin
  Name: Adam Martin
  Title: CIO
   
  SELLER:
   
  STATESVILLE ESTATES MHC, LLC,
  a North Carolina limited liability company
   
  By: /s/ Matt Johnson
  Title: Owner
   
  SELLER:
   
  NORTH SIDE MHC, LLC,
  a South Carolina limited liability company
   
  By: /s/ Matt Johnson
  Title: Owner
   
  SELLER:
   
  TIMBER VIEW, LLC,
  a North Carolina limited liability company
   
  By: /s/ Matt Johnson
  Title: Owner

 

 

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