POPE RESOURCES LTD PARTNERSHIP
EXHIBIT 10.9
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<TYPE>EX-10.9
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<FILENAME>a2057392zex-10_9.htm
<DESCRIPTION>EXHIBIT 10.9
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<P ALIGN="RIGHT"><FONT SIZE=2><A
NAME="le1462_exhibit_10.9"> </A>
<A NAME="toc_le1462_1"> </A>
<BR></FONT><FONT SIZE=2><B>Exhibit 10.9    <BR>  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="le1462_amendment_no._8_to_real__le102247"> </A>
<A NAME="toc_le1462_2"> </A>
<BR></FONT><FONT SIZE=2><B>AMENDMENT NO. 8<BR>  TO<BR>  REAL ESTATE PURCHASE AND SALE AGREEMENT    <BR>  </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;THIS AMENDMENT NO. 8 TO REAL ESTATE PURCHASE AND SALE AGREEMENT (this "Amendment") dated as of June&nbsp;1, 2001, is made by and between Pope Resources, a
Delaware limited partnership, its wholly owned subsidiary Olympic Property Group LLC, a Washington limited liability company, and its wholly owned subsidiaries Olympic Real Estate Development LLC, a
Washington limited liability company, Olympic Real Estate Management,&nbsp;Inc., a Washington corporation, and Olympic Resorts LLC, a Washington limited liability company (collectively "Seller"),
and Port Ludlow Associates LLC, a Washington limited liability company ("Buyer"), regarding that certain Real Estate Purchase and Sale Agreement dated January&nbsp;12, 2001, between Buyer and
Seller, as amended by Amendment No.&nbsp;1 dated February&nbsp;8, 2001, Amendment No.&nbsp;2 dated February&nbsp;14, 2001, Amendment No.&nbsp;3 dated February&nbsp;27, 2001, Amendment
No.&nbsp;4 dated March&nbsp;26, 2001, Amendment No.&nbsp;5 dated May&nbsp;15, 2001, Amendment No.&nbsp;6 dated May&nbsp;18, 2001, and Amendment No.&nbsp;7 dated May&nbsp;25, 2001 (as
amended, the "Agreement"), for the purchase and sale of certain property located in Jefferson and Pierce Counties, Washington, described therein (the "Property"). </FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;I.&nbsp;&nbsp;EFFECT OF AMENDMENT.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;This Amendment amends and modifies the Agreement. In the event of any conflict
between the Agreement and this Amendment, this Amendment shall control. Except as contained within the Agreement and this Amendment, there are no other agreements or understandings between Buyer and
Seller relating to the Property. Capitalized terms not otherwise defined herein shall have the meanings given them under the Agreement. </FONT></P>

<P><FONT SIZE=2><B>&nbsp;&nbsp;&nbsp;&nbsp;II.&nbsp;&nbsp;EXTENSION OF TIME.</B></FONT><FONT SIZE=2>&nbsp;&nbsp;In Sections XII and XIII of Amendment No.&nbsp;5 (as amended) and in
Section&nbsp;16.9 of the Agreement (as amended), the date "June&nbsp;1, 2001," is hereby replaced in each instance by the date "June&nbsp;8, 2001." In Section&nbsp;XIX of Amendment
No.&nbsp;5 (as amended), the date "June&nbsp;1, 2001," is hereby replaced by the date "June&nbsp;8, 2001." </FONT></P>

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&nbsp;&nbsp;&nbsp;&nbsp;Except as expressly amended by this Amendment, the Agreement is hereby ratified and confirmed and shall take full force and effect. </FONT></P>

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<TD WIDTH="40%"><FONT SIZE=2><B>BUYER:</B></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2>PORT LUDLOW ASSOCIATES LLC, a Washington limited liability company</FONT></TD>
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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By West Coast Northwest Pacific Partners LLC, a Washington limited liability company, its manager</FONT></TD>
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2><BR>
/s/&nbsp;</FONT><FONT SIZE=2>RANDALL J. VERRUE</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2><BR>
Print Name:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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Randall J. Verrue</FONT><HR NOSHADE></TD>
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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Its:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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President</FONT><HR NOSHADE></TD>
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2><BR>
Date:</FONT></TD>
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6/1/01</FONT><HR NOSHADE></TD>
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<TD WIDTH="40%"><BR><FONT SIZE=2><B>SELLER:</B></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2><BR>
POPE RESOURCES L.P., a Delaware limited partnership, by POPE MGP,&nbsp;Inc., a Delaware corporation, its managing general partner</FONT></TD>
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2><BR>
/s/&nbsp;</FONT><FONT SIZE=2>GREGORY M. MCCARRY</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2><BR>
Print Name:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2><BR>
Gregory M. McCarry</FONT><HR NOSHADE></TD>
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&nbsp;</FONT></TD>
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Its:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2><BR>
V.P. Real Estate</FONT><HR NOSHADE></TD>
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2><BR>
Date:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2><BR>
6/1/01</FONT><HR NOSHADE></TD>
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<P ALIGN="CENTER"><FONT SIZE=2>2</FONT></P>

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&nbsp;</FONT></TD>
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OLYMPIC PROPERTY GROUP LLC, a Washington limited liability company</FONT></TD>
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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By:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2><BR>
/s/&nbsp;</FONT><FONT SIZE=2>GREGORY M. MCCARRY</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
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&nbsp;</FONT></TD>
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Print Name:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2><BR>
Gregory M. McCarry</FONT><HR NOSHADE></TD>
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Its:</FONT></TD>
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C.O.O.</FONT><HR NOSHADE></TD>
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&nbsp;</FONT></TD>
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Date:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2><BR>
6/1/01</FONT><HR NOSHADE></TD>
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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OLYMPIC REAL ESTATE DEVELOPMENT LLC, a Washington limited liability company</FONT></TD>
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<TD WIDTH="40%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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By:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2><BR>
/s/&nbsp;</FONT><FONT SIZE=2>GREGORY M. MCCARRY</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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Print Name:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2><BR>
Gregory M. McCarry</FONT><HR NOSHADE></TD>
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Its:</FONT></TD>
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C.O.O.</FONT><HR NOSHADE></TD>
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2><BR>
Date:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2><BR>
6/1/01</FONT><HR NOSHADE></TD>
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2><BR>
OLYMPIC REAL ESTATE MANAGEMENT,&nbsp;INC., a Washington corporation</FONT></TD>
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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By:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2><BR>
/s/&nbsp;</FONT><FONT SIZE=2>TOM GRIFFIN</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
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Print Name:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2><BR>
Tom Griffin</FONT><HR NOSHADE></TD>
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&nbsp;</FONT></TD>
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Its:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2><BR>
Vice President</FONT><HR NOSHADE></TD>
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<TD WIDTH="40%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2><BR>
Date:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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6/1/01</FONT><HR NOSHADE></TD>
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD COLSPAN=3><FONT SIZE=2><BR>
OLYMPIC RESORTS LLC, a Washington limited liability company</FONT></TD>
</TR>
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<TD WIDTH="40%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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By:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2><BR>
/s/&nbsp;</FONT><FONT SIZE=2>GREGORY M. MCCARRY</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="40%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="14%"><FONT SIZE=2><BR>
Print Name:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2><BR>
Gregory M. McCarry</FONT><HR NOSHADE></TD>
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&nbsp;</FONT></TD>
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Its:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="40%" ALIGN="CENTER" VALIGN="BOTTOM"><FONT SIZE=2><BR>
C.O.O.</FONT><HR NOSHADE></TD>
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&nbsp;</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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Date:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
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6/1/01</FONT><HR NOSHADE></TD>
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<FONT SIZE=2><A HREF="#toc_le1462_1">Exhibit 10.9</A></FONT><BR>
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<FONT SIZE=2><A HREF="#toc_le1462_2">AMENDMENT NO. 8 TO REAL ESTATE PURCHASE AND SALE AGREEMENT</A></FONT><BR>
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