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Sale of Real Estate - Addendum ADDENDUM TO CONTRACT OF SALE OF REAL ESTATE This Addendum to Contract of Sale of Real Estate ("Addendum") is made and entered into this 2..ui day of October 2004, by the CITY OF SALINA, KANSAS, a Kansas municipal corporation, ("City") and SUNFLOWER BANK, N. A., a national banking association, ("Sunflower"). Recitals A. The City and Sunflower Bank are parties to a certain Contract of Sale of Real Estate dated September 8, 2003 (the "Contract"). B. Circumstances relating to the completion and recording of the plat of Wayne Addition (a replat of part of School Grounds, part of Belmont Boulevard and Wayne Avenue, all in Belmont Addition, and part of Belmont Boulevard and Wayne Avenue in Shalimar Plaza Addition to the City of Salina, Kansas) have resulted in the need to readdress certain dates contained in the Contract through this Addendum. FOR AND IN CONSIDERATION of the mutual and reciprocal promises and agreements set forth herein, the parties agree as follows: Section 1 - Amendment of Section 1. Section 1 of the Contract is amended to read as follows: Section 1 - Exchange. Upon the terms, conditions, and requirements set forth in this Contract, the City agrees to convey the Real Estate to Sunflower, subject to the following deed covenants: (a) Sunflower shall landscape and maintain the Real Estate in accordance with the Landscape/Site Plan attached and incorporated as Exhibit B (the "Landscape/Site Plan"). All plantings called for under the Landscape Plan shall be substantially completed during the spring planting season of 2005. Any deviation by Sunflower from the Landscape/Site Plan must be approved in advance by city staff; and (b) Any development of the Real Estate by Sunflower shall be in accordance with the Landscape/Site Plan. Any deviation by Sunflower from the Landscape/Site Plan in the development of the Real Estate must be approved in advance by city staff; in exchange for Sunflower's simultaneous conveyance of the Parking Lot to the City. These covenants shall be stated as deed covenants on the warranty deed from the City to Sunflower, which covenants shall be binding upon and shall run with the land. 1 Section 2 - Amendment of Section 2. Section 2 of the Contract is amended to read as follows: Section 2 - Closing Date. Delivery of Deeds. and Possession. Time is expressly declared to be of the essence of this Contract. Closing Date shall be on or before November 12, 2004 ("Closing Date" or "Closing"). If the parties fully comply with the provisions of this Contract, then this Contract shall become binding and the Escrow Agent shall at Closing deliver (a) the warranty deed and title insurance policy to the Real Estate to Sunflower and (b) the warranty deed and title insurance policy to the Parking Lot to the City. No title shall pass hereunder until the foregoing conditions have been fully met. The parties agree that Sunflower shall have possession of the Real Estate and the City shall have possession of the Parking Lot immediately following the Closing. Section 3 - Amendment of Section 6. Section 6 of the Contract is amended to read as follows: Section 6 - Taxes. (a) The Real Estate is currently exempt from real property taxes. The parties acknowledge that the Saline County Appraiser shall assess real estate taxes against the Real Estate for 2004, prorated effective upon the recording of the deed from the City to Sunflower. Sunflower acknowledges its responsibility for payment of any real estate taxes assessed against the Real Estate for 2004 and thereafter. (b) Sunflower acknowledges its responsibility for payment of all real property taxes on the Parking Lot for 2003 and all prior years. Real property taxes for 2004 shall be prorated between the parties as of the Closing Date, based upon the real property taxes on the Parking Lot for the prior year. Sunflower agrees to pay to the City at closing its prorated share of the 2004 real property taxes on the Parking Lot. The City agrees that it shall be responsible for payment of the actual 2004 real property taxes due on the Parking Lot and that it will provide Sunflower Bank with a receipt showing payment of the 2004 real property taxes. Section 4 - Ratification. Except as modified by this Addendum, the Contract is hereby ratified, extended, and confirmed. Section 5 - Extent of Contract. This Addendum shall be binding upon the successors and assigns ofthe respective parties hereto. 2 IN WITNESS WHEREOF, the parties have caused this Contract to be signed by its duly authorized officers on the day and year first above written. CITY OF SALINA, KANSAS By: ~ #,~ Monte D. Shadwick, Mayor ATTEST: By: ~ ~~ Lieu Ann ~, City Cle Gh~?y SUNFLOWER BANK, N.A. By: ,j~p .ð '1 ~ David B. Newcomer Senior Vice-President & Cashier 3 RECEIPT BY ESCROW AGENT The undersigned hereby acknowledges receipt of the executed original of this Addendum, and agrees to act as Escrow Agent and Real Estate Reporting Person as defined under Internal Revenue Code Section 6045(e). This receipt is executed this :t:J day of October, 2004. LAND TITLE SERVICES, INC. BY~ . ... -- [Name] fJrÞt't. 6--cI [Title] 4 , !' ~.:] T;"":' ,- f' . "",,-S, iNC. KANSAS WARRANTY DEED Rt:Bt:ClA St!:.MAN Ht::biSTt::R ùF út::t::ùs C ^/ SALIN!:. CûUN1Y KANSAS (Y Hook: 1~~2 Page: l1Ø~ Receipt t: 21272 Total Fees: .8.00 Pages Recorded: 1 Date Recorded: 11/16/~ 9:58:44 ~ .,." """'" ."" ~E Co¿~"## Entered 1n T~""~~l1tm fúy .ðjf1c~e, this/7i'" C;~~~f \,ó'j.. ."cU~T ark '" -"'i;:""".,'.~c'J',.:' "~';" " "\ 1>"" ' s, " ,:,.,:, ,¡ .,'., ". . 3 C "J'" C - -:'-:1, I<J 674D~ . r. +, ~~/' ¡. . ~ ¡.,,; "-. " I...-.ø Upon recor atlon: IS instrument is to be returned to: Land Title Services, Inc. 136 N. 7th Salina, KS 67401 ~ On this B- day of November, 2004, Sunflower Bank, N.A., a national banking association, fì'kla The First National Bank and Trust Company of Salina, Salina, Kansas, a national banking association, conveys and warrants to the City of Salina, Kansas, a Kansas municipal corporation, the following-described real estate in Saline County, Kansas: Lots Eighty (80), Eighty-two (82), Eighty-four (84), Eighty-six (86) and the North Twenty- two and Seventy-five hundredths (22.75) feet of Lot Eighty-eight (88), on Santa Fe Avenue, Original Town of Salina, Saline County, Kansas. Contains 26,730 square feet or 0.61 acres, more or less. SUBJECT TO easements, restrictions, reservations, and other matters of record. SUNFLOWER BANK, N.A., fì'kla The First National Bank and Trust Company of Salina, Salina, Kansas, a national banking association By: ~lU.~ .ó 11 eu.- ~~ David B. Newcomer Senior Vice President & Cashier STATE OF KANSAS, SALINE COUNTY, ss: BE IT REMEMBERED, that on this I;) day of November, 2004, before me, the undersigned, a notary public in and for the county and state aforesaid, came David B. Newcomer, Senior Vice President and Cashier, who is personally known to me to be the same person who executed as such officer the within instrument of writing on behalf of Sunflower Bank, N.A., fì'kla The First National Bank and Trust Company of Salina, Salina, Kansas, a national banking association, and such person duly acknowledged the execution of the same. IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal the day and year last above written. /"" " I ..' / Lf/" ~ L I-v .{C-,.. Notary Public /---. . /f,>, t?¡-a-~ / " ,'--~'... ~~ ANNA KINGSLEY NO1"" fIœUC $'fA 1'1 01' KAIISA8 My Appt. Exp, ;; -/'1 ..J.é't..15