Assignment of Purchase and Sale Agreement and Joint Escrow Instructions between TNP Acquisitions, LLC and TNP SRT Morningside Marketplace, LLC

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Summary

This agreement, dated January 9, 2012, transfers all rights and obligations under a prior Purchase and Sale Agreement and Joint Escrow Instructions from TNP Acquisitions, LLC (the Assignor) to TNP SRT Morningside Marketplace, LLC (the Assignee). The Assignee agrees to assume all responsibilities of the Assignor related to the acquisition of a property from LHC Morningside Marketplace, LLC. The document is signed by all parties to confirm their acceptance of the assignment and the terms involved.

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EX-10.3 4 d280785dex103.htm ASSIGNMENT OF PURCHASE Assignment of Purchase

Exhibit 10.3

ASSIGNMENT OF PURCHASE AND SALE AGREEMENT

AND JOINT ESCROW INSTRUCTIONS

THIS ASSIGNMENT OF PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (this “Assignment”) is made this 9th day of January, 2012, between TNP ACQUISITIONS, LLC, a Delaware limited liability company (the “Assignor”); and TNP SRT MORNINGSIDE MARKETPLACE, LLC, a Delaware limited liability company (“Assignee”).

W I T N E S S E T H:

THAT for and in consideration of the sum of ten dollars ($10.00) cash in hand paid and other goods and valuable consideration, the receipt and sufficiency of which are hereby acknowleged, Assignor does hereby transfer and assign to Assignee all of Assignor’s rights, title. And interest in, to, and under that certain Purchase and Sale Agreement and Joint Escrow Instructions, dated October 21, 2011, as amended (“the Agreement”), between LHC Morningside Marketplace, LLC, a Delaware limited liability company, as Seller, and TNP Acquisitions, LLC, a Delaware limited liability company, as Buyer, in connection with the acquisition with the acquisition of the property described in the Agreement (the “Property”).

Assignee, as evidenced by its signature hereto, agrees to assume and perform the obligations of Assignor under the Agreement.

[SIGNATURES FOLLOW]

 

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WITNESS the following signatures:

 

ASSIGNOR:   TNP ACQUISITIONS, LLC, a   
  Delaware limited liability company   
  By:  

/s/ James Wolford

      
  Name:  

James Wolford

      
  Its:  

CFO

      
ASSIGNEE:   TNP SRT MORNINGSIDE MARKETPLACE, LLC, a Delaware limited liability company   
  By:  

TNP Strategic Retail Operating Partnership, L.P., a

Delaware limited partnership

its Sole Member

   
    By:  

TNP Strategic Retail Trust, Inc., a

Maryland corporation

its general partner

   
      By:   

/s/ James Wolford

   
      Name:   

James Wolford

   
      Its:   

CFO

   
SEEN AND AGREED:               
SELLER:   LHC Morningside Marketplace, a Delaware limited liability company      
  By:  

 

      
  Name:  

 

      
  Title:  

 

      

 

2