Backup Documents 10/11/2016 Item #11D 1 10
REAL. ESTATE
INTERNATIONAL., LLC
)FTIRY STARKEY October 5, 2016
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Via U.S. mail and email LettOcha colliergov.net
1415 Panther 1.31)e Collier County Community Redevelopment Agency
Napio,Florida 34109 Atm: Mr, Leo E. Ochs Jr.,County Manager
3299 Tamiami Trail East, Suite 202
Mr 239.514.4001 Naples, Fl, 34112-5729
239.514.4005
jifit.repus.com Re: 5.27 acre Bayshore Gateway Mini-Triangle property(the"Property")
mew.repo s.com
Dear Mr.Ochs:
'Fills letter confirms that the Purchaser has requested and the Seller (as defined below) has
granted the Purchaser(as defined below)an administrative extension of the Inspection Period, as
defined in Section 7.a of the Real Estate Purchase Agreement by and between Collier County
Community Redevelopment Agency ("Seller") and Real Estate Partners International, 1,1,C
("Purchaser") dated May 9, 2016 ("Purchase Agreement"), through and including October 28,
2016, We understand and acknowledge this administrative extension must he ratified by the
BoCC at its October II, 2016 hearing.
Based on this administrative extension, the Additional Earnest Money, required under Section
3.b of the Purchase Agreement, will be deposited on October 12, 2016 (instead of October 6,
2016), following the ratification of the administrative extension by the BoCC. In the event the
administrative extension is not ratified by the BoCC at its October I I, 2016 hearing, Purchaser
will, nevertheless, he permitted to deposit the Additional Earnest Money with the Escrow Agent
by not later than October 12. 2016 so as to timely satisfy its obligation under Section 3.b of the
Purchase Agreement, Notwithstanding anything to the contrary, it is agreed that if this
administrative extension is ratified as described, the Total Earnest Money remains refundable to
Purchaser if it terminates the transaction prior to the expiration of the Inspection Period as
extended herein.
Please signify you: :,reement with the terms of this letter by signing and returning a copy.
Very truly :ours,
cc: M ick Casalanguida
effrey Klatzkow, Esq.
Richard C.Grant, Esq.
Agreed to and smelted: ,
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Leo Ochs Jr., Com ty anager Date '
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Dated: ___ ie ( Rec'dDi
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