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