Assignment of Agreement of Sale and Purchase for 901 Civic Center Drive by Triple Net Properties, LLC to NNN 901 Civic, LLC and NNN VF 901 Civic, LLC
Triple Net Properties, LLC is transferring all of its rights and obligations under a contract to purchase property at 901 Civic Center Drive, Santa Ana, California, to NNN 901 Civic, LLC and NNN VF 901 Civic, LLC. The new parties will assume all responsibilities and benefits of the original contract. The agreement is effective as of April 19, 2006, and the ownership percentages between the new parties will be determined separately.
ASSIGNMENT OF CONTRACT
THIS ASSIGNMENT OF CONTRACT (the Assignment) is made as of the 19x day of April 2006 by Triple Net Properties, LLC, a Virginia limited liability company (Assignor) to NNN 901 Civic, LLC, a Delaware limited liability company and NNN VF 901 Civic, LLC, a Delaware limited liability company (Assignee), in ownership percentages to be determined between the parties.
RECITALS
Santa Ana Arts IV, Inc., a California corporation, f/k/a American Pacific Secured File Storage, Inc., a California corporation entered into that certain Agreement of Sale and Purchase, dated as of March 27, 2006 and amended March 30, 2006 (the Contract) with respect to certain property known as 901 Civic Center Drive; Santa Ana, California; as more particularly described in the Contract. Assignor desires to assign all of its rights, title and interest in and to the Contract to Assignee.
AGREEMENT
FOR and in consideration of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Assignor hereby assigns all of its rights, title and interest in and to the Contract to Assignee.
Assignee by its execution of this Assignment hereby assumes all of Assignors obligations under the Contract,
WITNESS the following signatures:
ASSIGNOR: | Triple Net Properties, LLC, a Virginia limited liability company | |
By: /s/ Richard Hutton | ||
Name: RICHARD HUTTON | ||
Title: CHIEF INVESTMENT OFFICER | ||
ASSIGNEE: | NNN 901 Civic, LLC, a Delaware limited liability company | |
By: Triple Net Properties, LLC, a Virginia limited liability company | ||
Its: Manager | ||
By: /s/ Richard Hutton | ||
Name: RICHARD HUTTON | ||
Title: CHIEF INVESTMENT OFFICER | ||
NNN VF 901 Civic, LLC, a Delaware limited liability company | ||
By: NNN 2003 Value Fund, LLC a Delaware limited liability company | ||
By: Triple Net Properties, LLC, a Virginia limited liability company | ||
Its: Manager | ||
By: /s/ Richard Hutton | ||
Name: RICHARD HUTTON | ||
Title: CHIEF INVESTMENT OFFICER |