Assignment of Purchase Agreement for Gateway Pavilions Shopping Center by Inland Real Estate Acquisitions, Inc. to Inland Western Avondale McDowell, L.L.C.
Inland Real Estate Acquisitions, Inc. is transferring all its rights and obligations as purchaser under a property sale agreement for the Gateway Pavilions Shopping Center in Avondale, Arizona, to Inland Western Avondale McDowell, L.L.C. The assignee agrees to take over all purchaser responsibilities and to protect the assignor from any claims related to the agreement after the assignment date. This document formalizes the transfer of the contract between the two parties.
Exhibit 10.446
ASSIGNMENT OF CONTRACT
This ASSIGNMENT OF CONTRACT (the Assignment) is made and entered into this day of December, 2004 by INLAND REAL ESTATE ACQUISITIONS, INC., an Illinois corporation (Assignor) and INLAND WESTERN AVONDALE MCDOWELL, L.L.C., a Delaware limited liability company (Assignee).
Assignor does hereby sell, assign, transfer, set over and convey unto Assignee all of its right, title and interest as Purchaser under that certain agreement dated as of August , 2004, as amended, and entered into by Gateway Pavilions, L.L.C., an Arizona limited liability company, as Seller, and Assignor, as Purchaser (collectively, the Agreement), with respect to the sale and purchase of the property described by the Agreement, located in Avondale, Arizona, and known as Gateway Pavilions Shopping Center.
Assignor represents and warrants that it is the Purchaser under the Agreement, and that it has not sold, assigned, transferred, or encumbered such interest in any way to any other person or entity. By acceptance hereof, Assignee accepts the foregoing Assignment and agrees, from and after the date hereof, to (i) perform all of the obligations of Purchaser under the Agreement, and (ii) indemnify, defend, protect and hold Assignor harmless from and against all claims and liabilities arising under the Agreement.
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| INLAND REAL ESTATE ACQUISITIONS, INC., an | ||||
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| By: | /s/ Mark Youngman |
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| Name: | Mark Youngman |
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| Title: | Vice President |
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| ASSIGNEE: | ||||
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| INLAND WESTERN AVONDALE MCDOWELL, | ||||
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| By: | Inland Western Retail Real Estate Trust, Inc., a Maryland corporation, its sole member | |||
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| By: | /s/ Debra A. Palmer |
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| Name: | Debra A. Palmer |
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| Title: | Ass't Secretary |
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