25F - AMENDMENT WITH IN N OUT - Laserfiche WebLink

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EXHIBIT 1 FIRST AMENDMENT TO AGREEMENT OF PURCHASE AND SALE AND ESCROW This FIRST AMENDMENT TO AGREEMENT OF PURCHASE AND SALE AND ESCROW INSTRUCTIONS (this "Amendment"), dated as of 2020, is made and entered into by and between In-N-Out Burgers, a California corporation (`Buyer"), and the City of Santa Ana, a California charter city and municipal corporation ("Seller"). WITNESSETH: WHEREAS, Seller and Buyer entered into that certain Agreement of Purchase and Sale and Escrow Instructions, dated effective as of November 21, 2017 (the "Agreement'), regarding certain Property (the "Prover ") located in the City of Santa Ana, County of Orange, State of California and more particularly described and depicted in the Agreement; WHEREAS, Seller and Buyer have agreed to amend the Agreement on the terms hereinafter set forth; NOW, THEREFORE, in consideration of the agreements hereinafter set forth and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Buyer agree as follows: 1. Recitals. The foregoing recitals are true and correct and are incorporated herein by reference. 2. Defined Terms. All capitalized terms used herein and not expressly defined shall have the meaning given to them in the Agreement. 3. Opening Covenant. The phrase "eighteen (18) months" in the first sentence of Section 3.2(a) is hereby deleted in its entirety and replaced with the phrase "twenty-four (24) months". 4. Controlling Agreement. To the extent any provisions contained herein conflict with the Agreement, the provisions contained herein shall supersede such conflicting provisions contained in the Agreement. Except as modified herein, Seller and Buyer hereby represent and warrant that the Agreement remains in full force and effect and is hereby reaffirmed and ratified by both Seller and Buyer. 5. Counterparts, Facsimiles. This Amendment may be executed in a number of identical counterparts, each of which for all purposes is deemed an original, and all of which constitute collectively one agreement. Signatures to this Amendment may be transmitted via facsimile or scanned and emailed, and delivery thereby shall be deemed sufficient for all purposes to the same extent as would be delivery of an original signature. [SIGNATURE PAGES FOLLOW] 25F-3