ASSIGNMENT AND ASSUMPTION OF PURCHASE AGREEMENT

EX-10.2 2 asgpsajhanover.htm EX-10.2

ASSIGNMENT AND ASSUMPTION OF PURCHASE AGREEMENT

THIS ASSIGNMENT AND ASSUMPTION OF PURCHASE AGREEMENT (this Assignment") is entered into effective as of February 3, 2022 (the "Effective Date") by and between HARRY SAHI (Assignor) and 7684 ARUNDEL MILLS LLC, a Pennsylvania limited liability company (“Assignee").

WHEREAS, Assignor, as "Buyer”, is party to that certain Purchase and Sale Agreement effectively dated December 2, 2021 with AEI INCOME & GROWTH FUND XXI LIMITED PARTNERSHIP, a Minnesota limited partnership and "AEI NET .LEASE INCOME & GROWTH

FUND XX LIMITED PARTNERSHIP, a Minnesota limited partnership, collectively as the "Seller" for real property and improvements located at 7684 Arundel Mills Dr.. Hanover, MD 27076 (the “Purchase Agreement”); and

WHEREAS, Assignor desires to assign to Assignee all of Assignor's right, title and interest in, to and under the Purchase Agreement;

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Assignor and Assignee agree as follows:

Assignment and Assumption. Assignor hereby assigns, conveys, transfers and sets over

unto Assignee all of Assignor's right and interest in, to and under the Purchase Agreement.

Assignee hereby assumes and agrees to pay all sums, and perform. fulfill and comply with all covenants and obligations, which are to be paid, performed. fulfilled and complied with under the Purchase Agreement arising from and after the Effective Date.

Miscellaneous. The terms and conditions of this Assignment shall be binding upon and

inure to the benefit of Assignor and Assignee and their respective successors and assigns. This

Assignment may be executed in one or more counterparts. each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This Assignment shall be governed by, and construed and enforced in accordance with, the laws of the State in which the Property is located.

IN WITNESS WHEREOF, Assignor and Assignee have caused this Assignment and

Assumption of Purchase Agreement to be executed by their duly authorized and empowered

representatives as of the Effective Date.

ASSIGNOR:

/s/ HARRY SAHI

ASSIGNEE:

7684 ARUNDEL MILLS LLC. A Pennsylvania limited liability company

By: /s/ Harry Sahi_____

Name: Harry Sahi

Title: Manager