ASSIGNMENT AND ASSUMPTION OF PURCHASE AGREEMENT LETTER
EXHIBIT 10.3
ASSIGNMENT AND ASSUMPTION OF PURCHASE AGREEMENT LETTER
For good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the undersigned Inland Real Estate Acquisitions, Inc., an Illinois corporation (“Assignor”) hereby assigns to IREIT Robertsdale DG, L.L.C., a Delaware limited liability company, IREIT Wetumpka DG, L.L.C., a Delaware limited liability company, IREIT East Brewton DG, L.L.C., a Delaware limited liability company, IREIT Newport DG, L.L.C., a Delaware limited liability company and IREIT Madisonville DG, L.L.C., a Delaware limited liability company (collectively, “Assignee”) all of Assignor’s right, title and interest to purchase those properties leased to Dolgencorp, LLC which are located at (i) 19160 US Highway 90 Robertsdale, Alabama, (ii) 57 Chapel Road, Wetumpka, Alabama, (iii) 805 Forest Avenue, East Brewton, Alabama, (iv) 107 Highway 411, Newport, Tennessee and (v) 4225 Highway 411, Madisonville, Tennessee (“Properties”) pursuant to that certain Purchase Agreement Letter between Assignor, as purchaser, and Highwood Investments, LLC, as seller, dated September 5, 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 6th day of November, 2012.
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| ASSIGNOR: | Inland Real Estate Acquisitions, Inc., an Illinois corporation | |
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| By: | /s/ G. Joseph Cosenza |
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| Name: | G. Joseph Cosenza |
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| Title: | President |
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| ASSIGNEE: |
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| IREIT Robertsdale DG, L.L.C., a Delaware limited liability company | |
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| By: IREIT DG SPE Member, L.L.C., a Delaware limited liability company, its Sole Member | |
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| By: Inland Real Estate Income Trust, Inc., a Maryland corporation, its Sole Member | |
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| By: | /s/ David Z. Lichterman |
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| Name: | David Z. Lichterman |
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| Title: | Treasurer/Chief Accounting Officer |
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| IREIT Wetumpka DG, L.L.C., a Delaware limited liability company | |
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| By: IREIT DG SPE Member, L.L.C., a Delaware limited liability company, its Sole Member | |
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| By: Inland Real Estate Income Trust, Inc., a Maryland corporation, its Sole Member | |
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| By: | /s/ David Z. Lichterman |
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| Name: | David Z. Lichterman |
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| Title: | Treasurer/Chief Accounting Officer |
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| IREIT East Brewton DG, L.L.C., a Delaware limited liability company | |
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| By: IREIT DG SPE Member, L.L.C., a Delaware limited liability company, its Sole Member | |
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| By: Inland Real Estate Income Trust, Inc., a Maryland corporation, its Sole Member | |
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| By: | /s/ David Z. Lichterman |
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| Name: | David Z. Lichterman |
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| Title: | Treasurer/Chief Accounting Officer |
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| IREIT Newport DG, L.L.C., a Delaware limited liability company | |
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| By: IREIT DG SPE Member, L.L.C., a Delaware limited liability company, its Sole Member | |
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| By: Inland Real Estate Income Trust, Inc., a Maryland corporation, its Sole Member | |
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| By: | /s/ David Z. Lichterman |
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| Name: | David Z. Lichterman |
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| Title: | Treasurer/Chief Accounting Officer |
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| IREIT Madisonville DG, L.L.C., a Delaware limited liability company | |
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| By: IREIT DG SPE Member, L.L.C., a Delaware limited liability company, its Sole Member | |
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| By: Inland Real Estate Income Trust, Inc., a Maryland corporation, its Sole Member | |
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| By: | /s/ David Z. Lichterman |
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| Name: | David Z. Lichterman |
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| Title: | Treasurer/Chief Accounting Officer |
