Lease Renewal Option Exercise Letter for 450 Northridge Parkway, Suite 300 between Roberts Properties Residential, L.P. and Roberts Properties, Inc.

Summary

Roberts Properties, Inc. notifies Roberts Properties Residential, L.P. of its decision to exercise one of its one-year renewal options for the lease of Suite 300 at 450 Northridge Parkway. The lease term is extended to December 31, 2007, with the rental rate remaining at $19.00 per square foot. All other terms of the original lease remain unchanged. Both parties acknowledge and agree to these terms by signing the letter.

EX-10.2 3 c70530exv10w2.htm EXHIBIT 10.2 Filed by Bowne Pure Compliance

Exhibit 10.2

Via Hand Delivery

March 21, 2007

Mr. Mark Gordon
Controller
Roberts Properties Residential, L.P.
450 Northridge Parkway
Suite 302
Atlanta, Georgia 30350


Re:		Lease Renewal Option for 450 Northridge Parkway, Suite 300

Dear Mark:

Please accept this letter as the required notice of Tenant’s exercise of one (1) of it’s three (3) one (1) year options to extend the Lease dated March 27, 2006 by and between Roberts Properties Residential, L.P., a Georgia limited partnership (“Landlord”) and Roberts Properties, Inc., a Georgia corporation (“Tenant”) (the “Lease”).

As we have agreed, the rental rate will continue to be $19.00 per sq. ft. and the Term shall be extended to December 31, 2007. Except as expressly stated herein, all other terms and conditions of the Lease shall remain in full force and effect.

I would appreciate your acknowledging the above terms and conditions and returning an executed copy of this Lease Agreement to me.


Sincerely,		AGREED AND ACKNOWLEDGED:
		Roberts Properties Residential, L.P.
/s/ Anthony Shurtz
		/s/ Mark Gordon

Anthony Shurtz		Mark Gordon, Controller
Chief Financial Officer		Roberts Realty Investors, Inc., Sole General Partner

As07-030