upr000101 153

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 2 2 23 24 25 26 II 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 defined) be paid t» the Sellers on July 1, 1954, or on such «ther 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 and 10 of the Sale A- 43 greement, is U , 3*7. £63. which amount is herein 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, 1954, to the sale date, cannot be made until the accounting for said adjustments by Sellers and the approval thereof by the District have been completed subse­quent to the sale date. However the parties hereto estimate that the purchase pri*s .of the said properties upon the sale date will hprV& > which amount is hereinafter referred to as "Es­timated Purchase Price". The difference between the Preliminary Purchase Price and the Estimated Purchase Price, being $ / - I V , is hereinafter referred to as "Purchase Price Adjustment Fund". 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 Purchase Price and that the Purchase Price Adjust­ment Fund shall be held by you and disbursed to the party entitled thereto in accordance with these instructions after the accounting 2