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2 <br /> AMENDMENT NO. 8 TO <br /> PROPERTY PURCHASE AGREEMENT <br /> (Colby Avenue & Wall Street,Everett,Washington) <br /> THIS AMENDMENT NO. 8 TO PROPERTY PURCHASE AGREEMENT <br /> ("Amendment") is made and entered into as of the day of , 2011, by and <br /> between the CITY OF EVERETT, a Washington municipal corporation, ("Seller") and <br /> TOUCHSTONE CORPORATION, a Washington corporation, AND/OR ASSIGNS <br /> ("Purchaser"). <br /> RECITALS <br /> A. Purchaser and Seller are the parties to the Property Purchase Agreement dated <br /> October 16, 2008, as amended by Amendment No. 1 to Property Purchase Agreement dated <br /> April 14, 2009, as further amended by Amendment No. 2 to Property Purchase Agreement dated <br /> October 7, 2009, as further amended by Amendment No. 3 to Property Purchase Agreement <br /> dated February 10, 2010, as further amended by Amendment No. 4 to Property Purchase <br /> Agreement dated June 16, 2010, as further amended by Amendment No. 5 to the Property <br /> Purchase Agreement dated August 16, 2010, as further amended by Amendment No. 6 to <br /> Property Purchase Agreement dated November 10, 2010, and as further amended by Amendment <br /> No. 7 to the Property Purchase Agreement dated January 7, 2011 (the "Agreement"). Capitalized <br /> terms not otherwise defined herein shall have the meanings ascribed to them in the Agreement. <br /> B. Purchaser and Seller now desire to make this Amendment in order to amend the <br /> Agreement to incorporate the agreed upon terms and conditions. <br /> Now, therefore, in consideration of the foregoing and other good and valuable <br /> consideration, receipt of which is hereby acknowledged, the parties agree as follows: <br /> 1. Project Approvals Period Extension. The Project Approvals Period is extended <br /> until February 16, 2012. Accordingly, the following phrase from Section 4c of the Agreement is <br /> deleted: <br /> On or before the date that is twelve (12) months after the end of the Feasibility Period ("Project <br /> Approvals Period"), <br /> That phrase is replaced with: <br /> On or before February 16, 2012 ("Project Approvals Period"), <br /> 2. Ratification. No other modification of the Agreement is made or intended to be <br /> made hereby and the parties ratify, confirm, and reaffirm that the Agreement, as amended <br /> hereby, remains in full force and effect. The Recitals and exhibits attached hereto are a material <br /> part of this Amendment and incorporated herein as if fully set forth. <br /> [Signatures on the following page.] <br /> 18 <br />