SGCC Purchase Agreement – Extension Dates

Somersett United
Somersett United

In an email to Somersett residents, dated December 31, the SOA BOD announced an amendment to the SGCC Purchase Agreement wherein the required dates for completion of Due Dilligence activities and Close of Escrow have been extended. (See previous post entitled “SGCC Purchase Agreement – What Next). In their email, the BOD stated that the extension dates were approved via “written consent” of the parties.

Amended dates are as follows:

  • Due Dilligence Period: February 2nd
  • Close of Escrow: February 17th

As discussed in the previous post referenced above, these are dates under which these activities must be completed in order to circumvent automatic termination of the agreement.

The SOA email only addressed the amended dates without an explanation for the extensions, any identification/update on the due diligence activities or where or when a copy of the amendment may be accessed (not yet on the SOA website as of this posting).

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