upr000102 236

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 It is the intention of the parties hereto that the proper­ties referred to in Section 1 of the Sale Agreement shall be trans­ferred to the District and that the Preliminary Purchase Price(here­inafter reiftfri'wircifl t6 jbe paid to the Sellers on July 1* 19 5^ > or on such other date as the parties shall mutually designate in writing, which date is hereinafter referred to as the "sale date". It is a-greed that the purchase price of said properties as of April 30, 1954, computed as provided in Sections 8, 9 10 of the Sale A-greement, is ________ _, which amount is herein^Wr referred to as the "Preliminary Purchase Price". Adjustments in the purchase price to be made pursuant to the provisions of Sections 9 and 10 of the Sale Agreement for the period, May 1, 195^* to the sale date, cannot be made until the accounting for said adjustments by Sellers and the approval thereof by the District ha^been completed subse­quent to the sale date. However the parties hereto estimate that the purchase price of the said properties upon the sale date will be $____________ , which amount is hereinafter referred to as "Es­timated Purchase Price". The difference between the Preliminary Purchase Price and the Estimated Purchase Price, being $___ _______ •1 is hereinafter referred to as "Purchase ^rice 4 sJustment ftTnd". It is agreed that the said properties shall be transferred and conveyed to the District upon the sale date upon payment to the Sellers of the Preliminary <|jurchase Jlrice and that the Purchase ^rice adjust-ment fund shall be held by you and disbursed to the party entitled thereto in accordance with these instructions after the accounting II 2.