Laserfiche WebLink
FIRST AMENDMENT TO ASSIGNMENT OF <br /> KAGIE GRAVEL PIT <br /> This FIRST AMENDMENT TO ASSIGNMENT OF KAGIE GRAVEL PIT <br /> ("Amendment") is made this 8th day of February,2023 ("Effective Date"),by Cross Mountain <br /> Ranch Limited Partnership, a California limited partnership(by Cross Mountain Ranch <br /> Corporation,a Colorado corporation,its General Partner),whose address is P.O.Box 458, Santa <br /> Barbara, California 93102 ("Assignor"), and West Fish Creek Ranch,LLC,a Texas limited <br /> liability company,whose street address is 3108 Harvard Ct.,Plano,Texas 75093 ("Assignee") <br /> (together,the"Parties"). <br /> The Parties have entered into that certain Assignment of Kagie Gravel Pit of even date <br /> herewith(the"Assignment"). The Parties desire to amend the Assignment pursuant to the terms <br /> and conditions set forth in this Amendment. <br /> Unless otherwise indicated,all capitalized terms used in this Amendment will correspond <br /> to the defined terms used in the Assignment. <br /> NOW,THEREFORE,in consideration of the mutual covenants and agreements herein <br /> contained, and for other good and valuable consideration,the receipt and sufficiency of which <br /> are hereby acknowledged,the Parties hereto, intending to be legally bound, agree as follows: <br /> 1) Randy Foster has assigned his interests and obligations under the Contract to West Fish <br /> Creek Ranch,LLC, a Texas limited liability company("Fish Creek"); <br /> 2) Assignor's address is hereby changed to P.O. Box 458, Santa Barbara, California 93102; <br /> 3) The Property location is amended to also include Section 19 in T4N,R87W,6 h P.M.in <br /> Routt County, Colorado; <br /> 4) The Parties belif-,vo The gravel pit bond currently being held by DRMS is in the amount of Y <br /> $24,206.50 ("Bond")and have been informed by DRMS that the Bond cannot be <br /> transferred to Fish Creek as the Parties first contemplated. Rather,the Bond shall be <br /> returned to Assignor and Fish Creek shall be required to post a new Bond as part of the <br /> transfer of the permit through DRMS; <br /> 5) Because the Parties are unaware of the exact current balance of the Bond being held by <br /> DRMS, $24,206.50 shall be credited to Fish Creek Ranch at Closing; <br /> 6) In the event the amount of the Bond returned to Assignor exceeds$24,206.50,that excess <br /> amount shall be returned to Fish Creek from the funds held back in Escrow pursuant to <br /> the February 8,2023 Escrow Agreement between the Parties; <br /> 7) Alternatively,in the event the amount of the Bond returned to Assignor by DRMS is less <br /> than the$24,206.50 credit given to Assignee at Closing,that deficit amount shall be <br /> promptly reimbursed and paid to Assignor by Assignee,via a check or other agreed upon <br /> method of payment between the Parties; <br /> 8) Further, should the DRMS determine that an increase in the Bond amount from what is <br /> currently being held by DRMS is warranted as a result of the transfer,Assignee shall be <br /> solely responsible for any such increase in the Bond amount and in no event will <br /> 1 <br />