upr000257 102

1 2 3 4 5 6 7 8 9 10 1 1 12 13 14 15 1 6 17 1 8 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 Sal© Agreement shall toe trans­ferred to the District and that the preliminary Purchase Price [hereinafter defined) toe paid to the Sellers on July 1, 1954, or on mch other date as the parties shall mutually designate in writing, Jhieh date is hereinafter referred t© as the '’sale date”. It is a- ;re©d that the purchase price of said properties as of April 30, t computed as provided in Sections 8, i and 10 of the Sale tgreement, is $2,317*663.43, which amount is herein referred to is the "Preliminary Purchase Price”, Adjustments in the purchase »rle© to be made pursuant to the provisions of sections 9 and 10 of he Sale Agreement for the period, May 1, 1954, to the sale date, annot toe made until the accounting for said adjustments by Sellers nd the approval thereof toy the District have been completed sutose-uent to the sale date. However, the parties hereto estimate that he purchase price of the said properties upon the sale date will e $2,475,046.18, which amount is hereinafter referred to as *1Es-imated purchase Price”. The difference between the Preliminary urehase Price and the Estimated Purchase Price, toeing $157,302,75, s hereinafter referred to as “Purchase Price Adjustment Fund”, it ® agreed that the said properties shall to© transferred and conveyed o the District upon the sale date upon payment to the Sellers of he Preliminary purchase Price and that the Purchase price Adjust-ent Fund shall be held toy you and disbursed to the party entitled hereto in accordance with these instructions after the accounting II