Assignment and Assumption of Purchase Agreement Letter between Highwood Investments, LLC and Inland Real Estate Acquisitions, Inc.
Highwood Investments, LLC is transferring all its rights and obligations under a purchase agreement for several properties leased to Dolgencorp, LLC to Inland Real Estate Acquisitions, Inc. Inland Real Estate Acquisitions, Inc. agrees to assume all responsibilities and benefits of the original agreement with The Broadway Group, LLC, effective December 28, 2012. This means Inland Real Estate Acquisitions, Inc. will now be the purchaser of the listed properties under the same terms as the original agreement.
Exhibit 10.4
ASSIGNMENT AND ASSUMPTION OF PURCHASE AGREEMENT LETTER
For good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the undersigned Highwood Investments, LLC, an Illinois limited liablility company (“Assignor”) hereby assigns to Inland Real Estate Acquisitions, Inc., an Illinois corporation (“Assignee”) all of Assignor’s right, title and interest to purchase those properties leased to Dolgencorp, LLC which are located at (i) 2956 Hamilton Road, LaGrange, Georgia, (ii) 112 Wares Cross Road, LaGrange, Georgia, (iii) 7768 Newnan Road, Brooks, Georgia, (iv) 109 Sam Houston School Road, Maryville, Tennessee, (v) 4919 Lee Road 270, Valley, Alabama, (vi) 501 E. Main Street, Daleville, Alabama and (vii) 5475 Moffett Road, Mobile, Alabama (“Properties”) pursuant to that certain Purchase Agreement Letter between Assignor, as purchaser, and The Broadway Group, LLC, as seller, dated July 30, 2012 (the “Purchase Agreement Letter”).
By execution hereof by Assignee, Assignee for itself and its successors and assigns hereby accepts the assignment and assumes all of the obligations of Assignor under the Purchase Agreement with respect to the Properties.
This Assignment and Assumption of Purchase Agreement Letter is effective as of the 28th day of December, 2012.
ASSIGNOR: Highwood Investments, LLC, an Illinois limited liability company
By: /s Lawrence J. Starkman
Name: Lawrence J. Starkman
Title: Managing Member
ASSIGNEE:
Inland Real Estate Acquisitions, Inc., an Illinois corporation
By: /s G. Joseph Cosenza
Name: G. Joseph Cosenza
Title: President
