Assignment and Assumption of Purchase and Sale Agreement between Inland Real Estate Acquisitions, Inc. and Inland American ST Portfolio, L.L.C.

Summary

This agreement transfers all rights and obligations under a Purchase and Sale Agreement for certain land parcels from Inland Real Estate Acquisitions, Inc. to Inland American ST Portfolio, L.L.C. The Assignee accepts and assumes all responsibilities related to the property purchase, but the Assignor remains liable for its original obligations. The agreement is effective as of November 30, 2007.

EX-10.153 3 a07-31396_1ex10d153.htm EX-10.153

EXHIBIT 10.153

 

ASSIGNMENT AND ASSUMPTION OF PURCHASE AND SALE AGREEMENT

 

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 INLAND AMERICAN ST PORTFOLIO, L.L.C., a Delaware limited liability company, (“Assignee”) all of Assignor’s right, title and interest as a party to that certain Purchase and Sale Agreement (the “Purchase Agreement”) by and between INLAND REAL ESTATE ACQUISITIONS, INC., (“Buyer”), and SUNTRUST BANK, a Georgia banking corporation, (“Seller”), dated September 27, 2007, as amended, with respect to the purchase and sale of those certain parcel(s) of land more fully defined on Exhibit A, attached hereto (the “Property”).

 

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, The Assignor acknowledges and agrees that notwithstanding the foregoing the Assignor is not released from any of its obligations under the Purchase Agreement.

 

This Assignment is effective as of the 30th  day of November, 2007.

 

 

ASSIGNOR

INLAND REAL ESTATE ACQUISITIONS, INC.,

 

 

an Illinois corporation

 

 

 

 

 

 

 

By:

/s/ G. Joseph Cosenza

 

 

 

G. Joseph Cosenza

 

 

Its:

President

 

 

 

 

ASSIGNEE

INLAND AMERICAN ST PORTFOLIO, L.L.C.,
a Delaware limited liability company

 

 

 

 

 

 

 

 

By:

Inland American Real Estate Trust, Inc., a Maryland corporation, its sole member

 

 

 

 

 

 

 

 

By:

/s/ Marcia L. Grant

 

 

 

 

Marcia L. Grant

 

 

 

Its:

Assistant Secretary