ASSIGNMENT OF PURCHASE AND SALE AGREEMENT FOR IMPROVED REAL ESTATE
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 Assignors 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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