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Home My WebLink AboutPurchase & Sale Agreement - Adden 6AMENDMENTNO.6ToREALESTATEDISPOSITIONANDDEVELOPMENTAGREEMENT[200MIIIAvenue]THISAMENDMENTNO.6TOREALESTATEDISPOSITIONANDDEVELOPMENTAGREEMENT(the“Amendment”)isenteredintobyandbetweenTHECITYOFRENTON,aWashingtonmunicipalcorporation(“Seller”or“City”),andCOSMOSINTERNATIONALCORP.,aWashingtoncorporation(Buyer’).RECITALS:A.SellerandBuyerenteredintoacertainRealEstateDispositionandDevelopmentAgreementdatedAugust20,2019(“Agreement”),concerningthepurchase,saleanddevelopmentoftherealpropertydescribedChicagoTitleInsuranceCompanyCommitmentNo.193379-SC.B.SellerandBuyerdesiretoamendtheAgreementtoextendtheFeasibilityPeriod.NOW,THEREFORE,inconsiderationofthemutualcovenantsandagreementscontainedherein,whicheachofthepartiesherebyacknowledgesasadequateandsufficientconsideration,BuyerandSellerherebyagreeasfollows:1.Definitions.CapitalizedtermsusedhereinwithoutfurtherdefinitionhavethemeaningssetforthintheAgreement.2.FeasibilityPeriod.Thedefinitionof“FeasibilityPeriod”setforthinSection1oftheAgreementisdeletedandthefollowingsubstitutedinlieuthereof:‘FeasibilityPeriod”meanstheperiodcommencingontheEffectiveDateandcontinuingthroughtheearlierofJanuary15,2022toaccommodatetheeffectsofCovid,theissuanceofanewLibraryLBA,andrequiredmodificationstothedefinitionofLBAApprovalasintendedinMilestone4under6.3.Theterm“LibraryLBA”meansalotboundaryadjustment,lotlineadjustment,orothersimilarprocedureforsegregationcausingtheportionoftheSitecomprisingtheLibraryAreatoconstituteaseparatelegallotforsubdivisionpurposesandthatdoesnotimposeanyconditionsorrestrictionsontheremainderoftheSitethatareunacceptabletoBuyer.Theterm“LibraryArea”meanstheportionoftheSiteidentifiedinyellowhighlightingonExhibitAattachedtothisAmendment6.3.ClosingDate.Thedefinitionof“ClosingDate”setforthinSection1oftheAgreementismodifiedtoextendtheClosingDatebyanumberofdaysequaltoCi)thetotalnumberofdayscomprisingtheFeasibilityPeriod(asextendedbythisAmendment6)less(ii)ninety(90)days.4.Ratification.ExceptasmodifiedandamendedbythisAmendment,theAgreementremainsinfullforceandeffectandasoriginallyexecuted.5.Execution.ThisAmendmentmaybeexecutedincounterparts.ThepartiesagreetoacceptadigitalimageofthisAmendment,asexecuted,asatrueandcorrectoriginalandadmissibleasbestevidenceforthepurposesofstatelaw,staterulesofcivilprocedures,FederalRuleofEvidence1002,andlikerules,statutesandregulations. INWITNESSWHEREOF,thepartiesheretohaveexecutedthisAmendmenteffectiveasofthedayandyearsetforthoppositetheirrespectivesignaturesbelow.BUYER:COSMOSINTERNATIONALCORP.,aWashingtoncorporationBy:-Its:_________________________________Date:October2021SELLER:CiTYOFRENTON,amunicipalcorporationundertheMa/October2021AttestJaCiClerkApprovedastoLegalFormBy:ShaneMoloneyCityAttorneyEXHIBITADepictionofLibraryArealawsoftheStateofWashingtonBy:Its:Date:Ytb1OVdO2 1?.t’mc,;,Pr“LibraryArea”isareahighlightedinyellow.3