Amendment to Purchase and Sale Agreement
THIRD AMENDMENT TO AGREEMENT FOR PURCHASE AND SALE OF REAL
PROPERTY AND JOINT ESCROW INSTRUCTIONS
This Third Amendment to Agreement for Purchase and Sale of Real Property and Joint Escrow Instructions ( Amendment ) is made as of January __, 2026 (the Effective Date ), by and between PHILIP E. BURKHARDT, Trustee of Trust A under the Burkhardt Family Trust established December 6, 1988 ( Seller ), and THE CITY OF LAGUNA BEACH, a California municipal corporation ( Buyer ), who agree as follows:
AGREEMENT
1. Background.
A. Seller and Buyer have entered into that certain Purchase and Sale Agreement dated January 16, 2025 as amended by that certain First Amendment to Agreement for Purchase and Sale of Real Property and Joint Escrow Instructions dated as of February 28, and as amended by that certain Second Amendment to
Agreement for Purchase and Sale of Real Property and Joint Escrow Instructions dated as of December 15, 2025 (as amended, the Purchase Agreement ), for the purchase and sale of that certain property located at 2535 Laguna Canyon Road, City of Laguna Beach, County of Orange, State of California, and as further described in Exhibit A to the Purchase Agreement (the Property ). Capitalized terms not defined herein shall have the meanings set forth in the Purchase Agreement.
B. Pursuant to the First Amendment, the Due Diligence Period was extended to April 23, 2025 to accommodate a Phase II Environmental Assessment and testing on the Buyer disapproved the results of its due diligence investigation prior to April 23, 2025, but elected to keep the Deposit in Escrow pending further testing and negotiations with Seller.
C. Pursuant to the Second Amendment, the Purchase Agreement was revived, the Due Diligence Period was extended to January 20, 2026 and the Closing Date was extended to January 30, 2026.
D. Buyer and Seller now desire to modify the same pursuant to the terms and conditions set forth herein.
2. Due Diligence Period. Notwithstanding anything to the contrary set forth in the Purchase Agreement,
the Due Diligence Period pursuant to Section 3.1.1 of the Purchase Agreement is hereby extended, and shall expire at 5:00 p.m. on January 28, 2026.
3. Closing. Subject to the satisfaction of the conditions precedent set forth in Article 4 of the Purchase Agreement, the Closing Date is hereby extended to February 6, 2026.
4. Effect on Agreement. All other terms of the Purchase Agreement, except as expressly modified herein, shall continue in full force and effect. In the event and to the extent Attachment 1
3 Amendment to Purchase and Sale Agreement
2 of any conflict between the terms of this Third Amendment and the terms of the Purchase Agreement, the terms of this Third Amendment shall govern.
5. Counterparts. This Third Amendment may be executed in any number of identical counterparts. If so executed, each of such counterparts is to be deemed an original for all purposes and all such counterparts shall collectively constitute one Agreement. This Third Amendment may be executed by facsimile or PDF signatures which shall be binding on the parties hereto.
6. Incorporation of Recitals. The Recitals are hereby incorporated into this Third Amendment.
[Signatures on Following Page]
4 Signature Page to PSA Amendment
IN WITNESS WHEREOF, Seller and Buyer have executed this Third Amendment effective as of the day and year first above written.
SELLER:
TRUST A UNDER THE BURKHARDT FAMILY
TRUST established December 6, 1988
By: Philip E. Burkhardt
Its: Trustee
BUYER:
CITY OF LAGUNA BEACH, a California
municipal corporation
By: ______________________
Its: _______________________
5 Amendment to Purchase and Sale Agreement
THIRD AMENDMENT TO AGREEMENT FOR PURCHASE AND SALE OF REAL
PROPERTY AND JOINT ESCROW INSTRUCTIONS
This Third Amendment to Agreement for Purchase and Sale of Real Property and Joint Escrow Instructions ( Third Amendment ) is made as of January __, 2026 (the Effective Date ), by and between PHILIP E. BURKHARDT, Trustee of Trust C under the Burkhardt Family Trust established December 6, 1988 ( Seller ), and THE CITY OF LAGUNA BEACH, a California municipal corporation ( Buyer ), who agree as follows:
AGREEMENT
1. Background.
A. Seller and Buyer have entered into that certain Purchase and Sale Agreement dated January 16, 2025 as amended by that certain First Amendment to Agreement for Purchase and Sale of Real Property and Joint Escrow Instructions dated as of February 28, and as amended by that certain Second Amendment to
Agreement for Purchase and Sale of Real Property and Joint Escrow Instructions dated as of (as amended, the Purchase Agreement ), for
the purchase and sale of that certain property located at 2307 Laguna Canyon Road, City of Laguna Beach, County of Orange, State of California, and as further described in Exhibit A to the Purchase Agreement (the Property ). Capitalized terms not defined herein shall have the meanings set forth in the Purchase Agreement.
B. Pursuant to the First Amendment, the Due Diligence Period was extended to April 23, 2025 to accommodate a Phase II Environmental Assessment and testing on the Buyer disapproved the results of its due diligence investigation prior to April 23, 2025, but elected to keep the Deposit in Escrow pending further testing and negotiations with Seller.
C. Pursuant to the Second Amendment, the Purchase Agreement was revived, the Due Diligence Period was extended to January 20, 2026 and the Closing Date was extended to January 30, 2026.
D. Buyer and Seller now desire to modify the same pursuant to the terms and conditions set forth herein.
2. Due Diligence Period. Notwithstanding anything to the contrary set forth in the Purchase Agreement,
the Due Diligence Period pursuant to Section 3.1.1 of the Purchase Agreement is hereby extended, and shall expire at 5:00 p.m. on January 28, 2026.
3. Closing. Subject to the satisfaction of the conditions precedent set forth in Article 4 of the Purchase Agreement, the Closing Date is hereby extended to February 6, 2026.
4. Effect on Agreement. All other terms of the Purchase Agreement, except as expressly modified herein, shall continue in full force and effect. In the event and to the extent 6 Amendment to Purchase and Sale Agreement
2 of any conflict between the terms of this Third Amendment and the terms of the Purchase Agreement, the terms of this Third Amendment shall govern.
5. Counterparts. This Third Amendment may be executed in any number of identical counterparts. If so executed, each of such counterparts is to be deemed an original for all purposes and all such counterparts shall collectively constitute one Agreement. This Third Amendment may be executed by facsimile or PDF signatures which shall be binding on the parties hereto.
6. Incorporation of Recitals. The Recitals are hereby incorporated into this Third Amendment.
[Signatures on Following Page]
7 Signature Page to PSA Amendment
IN WITNESS WHEREOF, Seller and Buyer have executed this Third Amendment effective as of the day and year first above written.
SELLER:
TRUST C UNDER THE BURKHARDT FAMILY
TRUST established December 6, 1988
By: Philip E. Burkhardt
Its: Trustee
BUYER:
CITY OF LAGUNA BEACH, a California
municipal corporation
By: ______________________
Its: _______________________
8 Amendment to Purchase and Sale Agreement
THIRD AMENDMENT TO AGREEMENT FOR PURCHASE AND SALE OF REAL
PROPERTY AND JOINT ESCROW INSTRUCTIONS
This Third Amendment to Agreement for Purchase and Sale of Real Property and Joint Escrow Instructions ( Amendment ) is made as of January __, 2026 (the Effective Date ), by and between PHILIP E. BURKHARDT, Trustee of Trust C under the Burkhardt Family Trust established December 6, 1988 ( Seller ), and THE CITY OF LAGUNA BEACH, a California municipal corporation ( Buyer ), who agree as follows:
AGREEMENT
1. Background.
A. Seller and Buyer have entered into that certain Purchase and Sale Agreement dated January 16, 2025 as amended by that certain First Amendment to Agreement for Purchase and Sale of Real Property and Joint Escrow Instructions dated as of February 28, and as amended by that certain Second Amendment to
Agreement for Purchase and Sale of Real Property and Joint Escrow Instructions dated as of (as amended, the Purchase Agreement ), for
the purchase and sale of that certain property located at 2535 Laguna Canyon Road, City of Laguna Beach, County of Orange, State of California, and as further described in Exhibit A to the Purchase Agreement (the Property ). Capitalized terms not defined herein shall have the meanings set forth in the Purchase Agreement.
B. Pursuant to the First Amendment, the Due Diligence Period was extended to April 23, 2025 to accommodate a Phase II Environmental Assessment and testing on the Buyer disapproved the results of its due diligence investigation prior to April 23, 2025, but elected to keep the Deposit in Escrow pending further testing and negotiations with Seller.
C. Pursuant to the Second Amendment, the Purchase Agreement was revived, the Due Diligence Period was extended to January 20, 2026 and the Closing Date was extended to January 30, 2026.
D. Buyer and Seller now desire to modify the same pursuant to the terms and conditions set forth herein.
2. Due Diligence Period. Notwithstanding anything to the contrary set forth in the Purchase Agreement,
the Due Diligence Period pursuant to Section 3.1.1 of the Purchase Agreement is hereby extended, and shall expire at 5:00 p.m. on January 28, 2026.
3. Closing. Subject to the satisfaction of the conditions precedent set forth in Article 4 of the Purchase Agreement, the Closing Date is hereby extended to February 6, 2026.
4. Effect on Agreement. All other terms of the Purchase Agreement, except as expressly modified herein, shall continue in full force and effect. In the event and to the extent 9 Amendment to Purchase and Sale Agreement
2 of any conflict between the terms of this Third Amendment and the terms of the Purchase Agreement, the terms of this Third Amendment shall govern.
5. Counterparts. This Third Amendment may be executed in any number of identical counterparts. If so executed, each of such counterparts is to be deemed an original for all purposes and all such counterparts shall collectively constitute one Agreement. This Third Amendment may be executed by facsimile or PDF signatures which shall be binding on the parties hereto.
6. Incorporation of Recitals. The Recitals are hereby incorporated into this Third Amendment.
[Signatures on Following Page]
10 Signature Page to PSA Amendment
IN WITNESS WHEREOF, Seller and Buyer have executed this Third Amendment effective as of the day and year first above written.
SELLER:
TRUST C UNDER THE BURKHARDT FAMILY
TRUST established December 6, 1988
By: Philip E. Burkhardt
Its: Trustee
BUYER:
CITY OF LAGUNA BEACH, a California
municipal corporation
By: ______________________
Its: _______________________
11 Amendment to Purchase and Sale Agreement
THIRD AMENDMENT TO AGREEMENT FOR PURCHASE AND SALE OF REAL
PROPERTY AND JOINT ESCROW INSTRUCTIONS
This Third Amendment to Agreement for Purchase and Sale of Real Property and Joint Escrow Instructions ( Amendment ) is made as of January __, 2026 (the Effective Date ), by and between PHILIP E. BURKHARDT, Trustee of Trust B under the Burkhardt Family Trust established December 6, 1988 ( Seller ), and THE CITY OF LAGUNA BEACH, a California municipal corporation ( Buyer ), who agree as follows:
AGREEMENT
1. Background.
A. Seller and Buyer have entered into that certain Purchase and Sale Agreement dated January 16, 2025 as amended by that certain First Amendment to Agreement for Purchase and Sale of Real Property and Joint Escrow Instructions dated as of February 28, and as amended by that certain Second Amendment to
Agreement for Purchase and Sale of Real Property and Joint Escrow Instructions dated as of (as amended, the Purchase Agreement ), for
the purchase and sale of that certain property located at 2307 Laguna Canyon Road, City of Laguna Beach, County of Orange, State of California, and as further described in Exhibit A to the Purchase Agreement (the Property ). Capitalized terms not defined herein shall have the meanings set forth in the Purchase Agreement.
B. Pursuant to the First Amendment, the Due Diligence Period was extended to April 23, 2025 to accommodate a Phase II Environmental Assessment and testing on the Buyer disapproved the results of its due diligence investigation prior to April 23, 2025, but elected to keep the Deposit in Escrow pending further testing and negotiations with Seller.
C. Pursuant to the Second Amendment, the Purchase Agreement was revived, the Due Diligence Period was extended to January 20, 2026 and the Closing Date was extended to January 30, 2026.
D. Buyer and Seller now desire to modify the same pursuant to the terms and conditions set forth herein.
2. Due Diligence Period. Notwithstanding anything to the contrary set forth in the Purchase Agreement,
the Due Diligence Period pursuant to Section 3.1.1 of the Purchase Agreement is hereby extended, and shall expire at 5:00 p.m. on January 28, 2026.
3. Closing. Subject to the satisfaction of the conditions precedent set forth in Article 4 of the Purchase Agreement, the Closing Date is hereby extended to February 6, 2026.
4. Effect on Agreement. All other terms of the Purchase Agreement, except as expressly modified herein, shall continue in full force and effect. In the event and to the extent 12 Amendment to Purchase and Sale Agreement
2 of any conflict between the terms of this Third Amendment and the terms of the Purchase Agreement, the terms of this Third Amendment shall govern.
5. Counterparts. This Third Amendment may be executed in any number of identical counterparts. If so executed, each of such counterparts is to be deemed an original for all purposes and all such counterparts shall collectively constitute one Agreement. This Third Amendment may be executed by facsimile or PDF signatures which shall be binding on the parties hereto.
6. Incorporation of Recitals. The Recitals are hereby incorporated into this Third Amendment.
[Signatures on Following Page]
13 Signature Page to PSA Amendment
IN WITNESS WHEREOF, Seller and Buyer have executed this Third Amendment effective as of the day and year first above written.
SELLER:
TRUST B UNDER THE BURKHARDT FAMILY
TRUST established December 6, 1988
By: Philip E. Burkhardt
Its: Trustee
BUYER:
CITY OF LAGUNA BEACH, a California
municipal corporation
By: ______________________
Its: _______________________
14