Alliance
Title
18831
Von
Karman Avenue, #380
Irvine,
CA 92612
Phone
No.
(949) 724-4900; Fax No. (949) 724-4909
AMENDED
I SUPPLEMENTAL - ESCROW INSTRUCTIONS
Brenda
Burnett/BSB Date:
October 20, 2005
Manager Escrow
No.: 15083848-383-BSB
To: Alliance
Title Company
Property
Address:
3455 E.
Flamingo Rd., Las Vegas, NV
The
above
numbered Escrow is hereby amended and/or supplemented as follows:
Seller
agrees to extend the close of escrow date from the original close of escrow
date
of October 1, 2005 to be on or before December 12, 2005 which will be the
last/final extension.
Buyer
shall deposit with Escrow Holder, good funds in the amount of $100,000.00 which
will be immediately released to Seller herein.
Upon
Escrow Holder's receipt of this instruction signed by all parties hereto and
upon clearance of Buyer's deposit, if applicable, Escrow Holder is hereby
authorized and instructed to release the sum of $100,000.00 directly to Seller.
Said sum shall apply toward the purchase price at the close of escrow. Buyer
and
Seller agree that Alliance Title Company, its officers and employees as well
as
Brokers make no warranties or representations of any kind, expressed or implied,
as to the ownership of or title to the property described it this escrow, nor
as
to any encumbrances or liens thereon, or as to the condition and/or the ultimate
outcome of this escrow, nor to any manner or form as an inducement to make
the
above payments. Furthermore, fully realizing that no documents in Buyer's favor
have been recorded, nor Policy of Title Insurance issued to protect Buyer's
interest in said property, Escrow Holder is nevertheless instructed to release
said funds prior to the close of escrow. Escrow Holder and Brokers are not
to be
held liable or responsible for any loss or damage which Buyer or Seller may
sustain by reason of releasing said funds, nor liable for the failure of any
of
the conditions of this escrow, or for the recovery of said money for any reason
whatsoever. All parties are aware and understand that Escrow Holder will not
aid
in the recovery of said monies in the event this escrow is not consummated
for
any reason. All parties are advised to seek independent counsel with regard
to
this instruction.
Out
of
funds deposited by the undersigned Buyers in the above numbered escrow, and
REGARDLESS OF WHETHER OR NOT THIS ESCROW IS EVER ACTUALLY COMPLETED AND CLOSED,
you are hereby authorized and instructed to release and pay $100,000.00 to
the
Seller's herein, immediately upon your receipt of these instructions, signed
by
all parties to this escrow.
Each
of
the undersigned parties to the above numbered escrow has read and understood
the
content of the following portion of section 1057.5 of the California Civil
Code,
to wit:
"No
escrow agent shall enter into any arrangement, either of his own making or
of a
subsidiary nature, or through any other person having dual capacity, or through
any person having a direct or indirect interest in the escrow or other device,
permitting any fee, commission or compensation which is contingent upon the
performance of any act, condition, or instruction set fourth in an escrow,
to be
drawn or paid, either in whole or in part, or in kind or its equivalent, prior
to the actual closing and completion of the escrow."
Alliance
Title
THE
UNDERSIGNED PARTIES, JOINTLY AND SEVERALLY, DO RELIEVE YOU FROM AND AGREE TO
SAVE AND HOLD YOU HARMLESS FROM ANY AND ALL LIABILITY TO THE UNDERSIGNED AND/OR
TO ANY THIRD PARTIES WHICH YOU, AS ESCROW HOLDER, MAY INCUR BY REASON OF YOUR
RELEASING AND PAYING $ 100,000,00 TO SELLERS HEREIN, PRIOR TO THE CLOSE OF
THIS
ESCROW. IN COMPLIANCE WITH THESE INSTRUCTIONS AND DO FURTHER AGREE THAT YOU
WILL
NOT BE REQUESTED TO AID IN THE RECOVERY OF SAID AMOUNT IN THE EVENT THAT THIS
ESCROW IS NOT CONSUMMATED.
In
the
event that the seller's loan of record to Midland is not paid in full by
1211105, buyer agrees to pay the additional interest accrued for not complying
with the lender requirements of a 30 day notice and will pay the additional
interest owing from 12/1105 to 1/1106 through their closing funds in an amount
not to exceed $30,000.00
Buyer
and
Seller are aware that there will be no further extensions and the forfeiture
of
the non refundable deposits are not to be construed a s a cooperation for less
or any part or remedy, but because it is impossible to calculate the loss due
to
a failed closing, it is simply an agreed upon amount.
All
other
terms and conditions remain the same,
BUYERS:
ST.
ROSE
LLC
/s/
St. Rose LLC 10/23/05
BY: Date
Alliance
Title
THE
UNDERSIGNED PARTIES, JOINTLY AND SEVERALLY, DO RELIEVE YOU FROM AND AGREE TO
SAVE AND HOLD YOU HARMLESS FROM ANY AND ALL LIABILITY TO THE UNDERSIGNED AND/OR
TO ANY THIRD PARTIES WHICH YOU, AS ESCROW HOLDER, MAY INCUR BY REASON OF YOUR
RELEASING AND PAYING $ 100,000.00 TO SELLERS HEREIN, PRIOR TO THE CLOSE OF
THIS
ESCROW, IN COMPLIANCE WITH THESE INSTRUCTIONS: AND DO FURTHER AGREE THAT YOU
WILL NOT BE REQUESTED TO AID IN THE RECOVERY OF SAID AMOUNT IN THE EVENT THAT
THIS ESCROW IS NOT CONSUMMATED.
In
the
event that the seller's loan of record to Midland is not paid in full by
12/1/05, buyer agrees to pay the additional interest accrued for not complying
with the lender requirements of a 30 day notice and will pay the additional
interest owing from 12/1/05 to 1/1/06 through their closing funds in an amount
not to exceed $30,000.00.
Buyer
and
Seller are aware that there will be no further extensions and the forfeiture
of
the non refundable deposits are not to be construed a s a cooperation for less
or any part or remedy, but because it is impossible to calculate the loss due
to
a failed closing, it is simply an agreed upon amount.
All
other
terms and conditions remain the same.
SELLERS:
DENVER
FUND I, LTD
A
COLORADO LIMITED PARTNERSHIP
BY:
CERTIFIED PROPERTY
ADVISORS,
GENERAL PARTNER
10/20/05
Date
/s/
Paul F. Winger, President
BY:
PAUL
F. WINGER,
PRESIDENT
Alliance
Title
THE
UNDERSIGNED PARTIES, JOINTLY AND SEVERALLY, DO RELIEVE YOU FROM AND AGREE TO
SAVE AND HOLD YOU HARMLESS FROM ANY AND ALL LIABILITY TO THE UNDERSIGNED AND/OR
TO ANY THIRD PARTIES WHICH YOU, AS ESCROW HOLDER, MAY INCUR BY REASON OF YOUR
RELEASING AND PAYING $ 100,000.00 TO SELLERS HEREIN, PRIOR TO THE CLOSE OF
THIS
ESCROW, IN COMPLIANCE WITH THESE INSTRUCTIONS: AND DO FURTHER AGREE THAT YOU
WILL NOT BE REQUESTED TO AID IN THE RECOVERY OF SAID AMOUNT IN THE EVENT THAT
THIS ESCROW IS NOT CONSUMMATED.
In
the
event that the seller's loan of record to Midland is not paid in full by
12/1/05, buyer agrees to pay the additional interest accrued for not complying
with the lender requirements of a 30 day notice and will pay the additional
interest owing from 12/1/05 to 1/1/06 through their closing funds in an amount
not to exceed $30,000.00.
Buyer
and
Seller are aware that there will be no further extensions and the forfeiture
of
the non refundable deposits are not to be construed a s a cooperation for less
or any part or remedy, but because it is impossible to calculate the loss due
to
a failed closing, it is simply an agreed upon amount.
All
other
terms and conditions remain the same.
BUYERS:
ST.
ROSE
LLC
/s/
St. Rose LLC 10/23/05
BY: Date
SELLERS:
SECURED
DIVERSIFIED
INVESTMENT,
LTD
/s/
Jan Wallace
BY:
JAN WALLACE
10/25/05
Date