Assignment and Assumption of Purchase and Sale Agreement between Inland Real Estate Acquisitions, Inc. and Inland Western Markham Corp.
Inland Real Estate Acquisitions, Inc. is transferring all its rights and obligations under a Purchase and Sale Agreement for property at 101 McNabb Street, Markham, Ontario, to Inland Western Markham Corp. The new party, Inland Western Markham Corp., agrees to take on all responsibilities and benefits of the original agreement with the sellers, 1001674 Ontario, Inc. and 1001675 Ontario, Inc. This transfer is effective as of January 25, 2005.
Exhibit 10.500
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 MARKHAM CORP., a New Brunswick corporation, (“Assignee”) all of its 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 1001674 ONTARIO, INC. and 1001675 ONTARIO, INC. (collectively, “Seller”), dated January 25, 2005 for purchase and sale of certain real property commonly known as 101 McNabb Street, Markham, Ontario, Canada (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.
This Assignment is effective as of the 25th day of January, 2005.
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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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| G. Joseph Cosenza | |
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| Its: | President | |
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| ASSIGNEE: | INLAND WESTERN MARKHAM CORP., a New Brunswick corporation | ||
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| By: | /s/ [ILLEGIBLE] | |
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| Its: | asst. Secretary | |
