Assignment and Assumption of Purchase and Sale Agreement between Inland Real Estate Acquisitions, Inc. and Inland Western Phoenix 19th Avenue, L.L.C.

Summary

Inland Real Estate Acquisitions, Inc. assigns its rights and obligations under a Purchase and Sale Agreement for property at 20002 N. 19th Avenue, Phoenix, AZ, to Inland Western Phoenix 19th Avenue, L.L.C. The Assignee accepts and assumes all responsibilities under the original agreement with the sellers, effective December 16, 2004. This document formalizes the transfer of contractual rights and duties related to the property purchase.

EX-10.451 34 a05-3686_1ex10d451.htm EX-10.451

Exhibit 10.451

 

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 WESTERN PHOENIX 19TH AVENUE, 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., or its designees, (collectively, “Purchaser”), and FRC WEST PROPERTY, L.L.C., AMERICAN EXPRESS TRAVEL RELATED SERVICES COMPANY, INC., and IDS PROPERTY CASUALTY INSURANCE COMPANY, (collectively, “Seller”), dated December 16, 2004 for purchase and sale of certain real property commonly known as 20002 N. 19th Avenue, Phoenix, AZ (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 Property.

 

This Assignment is effective as of the 16 day of December, 2004.

 

ASSIGNOR:

 

INLAND REAL ESTATE ACQUISITIONS, INC.,
an Illinois corporation

 

 

 

 

 

 

 

 

By:

/s/ G. Joseph Cosenza

 

 

 

 

G. Joseph Cosenza

 

 

 

Its:

President

 

 

 

 

 

 

ASSIGNEE:

 

INLAND WESTERN PHOENIX 19TH AVENUE,
L.L.C., a Delaware limited liability company
By: Inland Western Retail Real Estate Trust, Inc.,
its sole member

 

 

 

 

 

 

 

 

By:

/s/ G. Joseph Cosenza

 

 

 

 

 

 

 

 

Its:  Authorized Representative