SECOND AMENDMENT TO CONTRACT FOR PURCHASE OF REAL PROPERTYSECOND AMENDMENT TO CONTRACT FOR PURCHASE OF REAL PROPERTY
This Second Amendment to Contract for Purchase of Real Property (this "Second
Amendment" or this "Amendment"), is effective as of April /i , 2022 (the "Amendment Effective
Date"), by and between SCI Pelican Walk LLC, a Florida limited liability company ("Buyer"),
and The City of Clearwater, Florida, a municipal corporation of the state of Florida ("Seller").
RECITALS:
A. Seller and Covenant Property Investors, LLC, a Georgia limited liability company
("Covenant") entered into that certain Contract for Purchase of Real Property, dated effective
September 22, 2021, as amended by that certain First Amendment to Contract for Purchase of Real
Property dated effective January 24, 2022 (the "Agreement").
B. Covenant assigned the Agreement to the Buyer pursuant to that certain Assignment
and Assumption of Contract dated April _, 2022 (the "Assignment"), to which the Seller joined
pursuant to that certain Joinder and consent by Owner dated April _, 2022.
C. Buyer and Seller wish to amend the Agreement as set forth herein.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual promises contained herein and in the
Agreement, and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties agree as follows:
1. Recitals and Definitions. The foregoing recitals are incorporated herein by
reference as true and correct. Unless otherwise defined herein, any capitalized terms shall have
the meaning and definition set forth in the Agreement.
2. Closing. The Closing Date defined in Section 10 of the Agreement, as amended by
the First Amendment to the Agreement is hereby amended to be within sixty (60) days after
approval of the Assignment by City Council of the Seller.
3. Parking Management. Seller acknowledges and agrees that the current Association
Management Agreement and Parking Management Agreement (collectively, the "Management
Agreements") with Parksimple, LLC , shall be terminated effective as of the Closing Date, and
therefore hereby assigns, transfers, and sets over to Buyer, all of its right, title and interest in and
to the Management Agreements, as its interests may appear as of the Closing Date, and Buyer
hereby assumes all of Seller's obligations under the Management Agreements, effective as of the
Closing Date.
4. No Other Modifications. Except as set forth in this Second Amendment or as
necessary to carry out the intents and purposes of this Second Amendment, no other modifications
are intended or made to the Agreement.
[LT21-9601-566/286755/1]
[Signature page follows.]
[LT21-9601-566/286755/1]
[SIGNATURE PAGE TO SECOND AMENDMENT TO CONTRACT]
IN WITNESS WHEREOF, the Buyer and Seller with the intent to be legally bound have
executed this Agreement as of the Amendment Effective Date.
APPROVED BY SELLER AND
EFFECTIVE THISAAAY OF
GYri , 2022
Countersigned:
J.,,coe
1
Frank Hibbard, Mayor
Approved as to form:
Laura Mahony, Senior Assi t
City Attorney
[LT21-9601-566/286755/1]
BUYER:
SCI PELICAN WALK LLC, a Florida limited
liability company
By: /ty�
Name:
Brian Spear
Title: Manager
SELLER:
THE CITY OF CLEARWATER, FLORIDA,
a municipal corporation of the State of Florida
By: �G— 7
Name: J 0/U J C A/61
Title: � VA G kit-r9e42
Attest: