Assignment of Purchase and Sale Agreement for Improved Real Estate between TNP Acquisitions, LLC and TNP SRT Summit Point, LLC

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Summary

This agreement transfers all rights and obligations under a prior purchase and sale agreement for improved real estate from TNP Acquisitions, LLC (the Assignor) to TNP SRT Summit Point, LLC (the Assignee). The Assignee agrees to assume all responsibilities of the Assignor under the original agreement with CP Summit Retail, LLC, the Seller. The document is signed by all parties to confirm their acceptance of the assignment and the transfer of obligations.

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EX-10.5 6 d273504dex105.htm ASSIGNMENT OF PURCHASE AND SALE AGREEMENT Assignment of Purchase and Sale Agreement

EXHIBIT 10.5

ASSIGNMENT OF PURCHASE AND SALE AGREEMENT

FOR IMPROVED REAL ESTATE

THIS ASSIGNMENT OF PURCHASE AND SALE AGREEMENT FOR IMPROVED REAL ESTATE (this “Assignment”) is made this 21st day of December, 2011, between TNP ACQUISITIONS, LLC, a Delaware limited liability company (the “Assignor”); and TNP SRT SUMMIT POINT, 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 good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, 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 for Improved Real Estate, dated September 29, 2011, as amended (the “Agreement”), between CP Summit Retail, LLC, a Georgia limited liability company, as Seller, and TNP Acquisitions, LLC, a Delaware limited liability company, as Purchaser, in connection with the acquisition of the property described in the Agreement (the “Loan”).

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 SUMMIT POINT, 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:     CP SUMMIT RETAIL, LLC,
    a Georgia limited liability company
      By:  

/s/ R. Kent Rose                                                              

      Name:   R. Kent Rose                                                                   
      Title:   Manager                                                                           

 

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