Assignment and Assumption of Purchase Agreement between Steadfast Asset Holdings, Inc. and Sir Windsor on the River, LLC

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Summary

Steadfast Asset Holdings, Inc. assigns all its rights and obligations under a Purchase and Sale Agreement for real property in Cedar Rapids, Iowa, to Sir Windsor on the River, LLC. The assignee agrees to take over and fulfill all responsibilities under the original agreement. This document replaces any prior agreements between the parties regarding this assignment and is binding on their successors and assigns.

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EX-10.4 5 exhibit104windsorassignment.htm EX-10.4 Exhibit 10.4 Windsor Assignment


EXHIBIT 10.4
ASSIGNMENT AND ASSUMPTION OF PURCHASE AGREEMENT


For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, STEADFAST ASSET HOLDINGS, INC., a California corporation (“Assignor”), hereby assigns to SIR WINDSOR ON THE RIVER, LLC, a Delaware limited liability company (“Assignee”), all of Assignor's rights and obligations under and in regard to that certain Purchase and Sale Agreement and Joint Escrow Instructions dated October 21, 2011 (as may be amended, the “Purchase Agreement”), between Windsor on the River, LLC (“Seller”) and Assignor for the purchase and sale of that certain real property located in Cedar Rapids, Iowa, as more particularly described in Exhibit A attached hereto (the “Property”).

Assignee hereby agrees to and shall assume, perform and be fully responsible for the performance of all of the obligations of Assignor under the Purchase Agreement.

All of the provisions, covenants and agreements contained in the Assignment shall extend to and be binding upon the respective legal representatives, successors and assigns of Assignor and Assignee. This Assignment represents the entire agreement between Assignor and Assignee with respect to the subject matter of the Assignment , and all prior or contemporaneous agreements regarding such matters are hereby rendered null and void and of no force and effect.

(SIGNATURES APPEARS ON FOLLOWING PAGE)






WITNESS THE EXECUTION HEREOF, as of this December 1, 2011.


ASSIGNOR:

STEADFAST ASSET HOLDINGS, INC.,
a California corporation

By:    /s/ Ana Marie del Rio

Name:    Ana Marie del Rio

Title:    Vice President

ASSIGNEE:

SIR WINDSOR ON THE RIVER, LLC
an Delaware limited liability company

By:     Steadfast Income Advisor, LLC,
a Delaware limited liability         
company, its Manager
                            
                        
By:    /s/ Rodney F. Emery

Name:    Rodney F. Emery

Title:    CEO and President











Exhibit A

DESCRIPTION OF THE LAND


That certain real property described as:

Real property in the City of Cedar Rapids, County of Linn, State of Iowa, described as follows:
Lot 1 of Windsor-on-the-River First Addition to Cedar Rapids, Iowa, and Lot 2 and Lot 3 of Windsor-on-the-River Second Addition to Cedar Rapids, Iowa, and Lot 4 of Windsor-on-the-River Third Addition to Cedar Rapids, Iowa, and Lot 5 of Windsor-on-the-River Fourth Addition to Cedar Rapids, Iowa; all in Linn County, Iowa