Assignment of Loan Sale Agreement between TNP Acquisitions, LLC and TNP SRT Constitution Trail, LLC

Summary

This agreement, dated June 28, 2011, is between TNP Acquisitions, LLC (Assignor) and TNP SRT Constitution Trail, LLC (Assignee). The Assignor transfers all its rights and obligations under a prior Loan Sale Agreement with M&I Marshall & Ilsley Bank to the Assignee. The Assignee agrees to assume and perform all obligations under the original agreement related to the acquisition of a specified loan. The agreement is effective upon signing by both parties.

EX-10.2 3 dex102.htm ASSIGNMENT OF LOAN SALE AGREEMENT Assignment of Loan Sale Agreement

Exhibit 10.2

ASSIGNMENT OF LOAN SALE AGREEMENT

THIS ASSIGNMENT OF LOAN SALE AGREEMENT (this “Assignment”) is made this 28th day of June, 2011, between TNP ACQUISITIONS, LLC, a Delaware limited liability company (the “Assignor”); and TNP SRT CONSTITUTION TRAIL, 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 Loan Sale Agreement, dated June 21, 2011, as amended (the “Agreement”), M&I Marshall & Ilsley Bank, a Wisconsin state-chartered bank, as Seller, and TNP Acquisitions, LLC, a Delaware limited liability company, as Buyer, in connection with the acquisition of the loan described therein (the “Loan”), which Loan is more particularly described in the Agreement.

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/ Stephen Corea
      Name:   Stephen Corea
      Its:   SVP Acquisitions
ASSIGNEE:    

TNP SRT CONSTITUTION TRAIL, 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

Delaware corporation

its general Partner

          By:   /s/ Stephen Corea
          Name:   Stephen Corea
          Its:   SVP Acquisitions

 

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