Common use of Property to be Purchased Clause in Contracts

Property to be Purchased. In consideration of Ten Dollars ($10.00) cash in hand paid by Purchaser to Seller, the receipt and sufficiency of which are hereby acknowledged, Seller agrees to sell to Purchaser and Purchaser agrees to purchase from Seller, on the terms and conditions hereinafter set forth, that certain parcel(s) of land (the "Land") owned by Seller as identified and particularly described in Exhibit "A", attached hereto and incorporated herein by this reference, together with the following property: (a) all buildings, structures and other improvements located on the Land, and all fixtures and appurtenances thereto, (herein collectively called the "Improvements"); (b) all appliances and installed equipment owned by Seller, located at, on or in the Improvements or Land listed in Exhibit "B" attached hereto and incorporated herein by this reference (herein collectively called the "Equipment"); (c) any portion of the Land lying in the right-of-way of any alley, passageway, street, road, highway or avenue, proposed, open, or closed, adjoining all or any part of the Land and in any and all strips, gores and rights-of-way; (d) all riparian rights, hereditament, easements and other rights, privileges and immunities appurtenant to the Land; (e) all leases, rents and profits accruing with respect to the Land's Improvements and Equipment after the Closing; and (f) all of the Seller's right, title and interest in all transferable (to the extent, if any, such rights are transferable) intangible property of every nature whatsoever pertaining to the Land and Improvements, including without limitation, all the Service Agreements, licenses, permits, escrow deposits, contract rights, instruments, claims, chooses in action, building and property names and signs, property phone numbers, booklets, manuals and transferable utility contracts, but excluding all cash, bank accounts, utility deposits, and other revenues and income accruing prior to Closing. All of the foregoing real and personal property is hereinafter collectively called the "Property".

Property to be Purchased. In consideration of Ten Dollars ($10.00) cash in hand paid by Purchaser to Seller, the receipt and sufficiency of which are Seller hereby acknowledged, Seller agrees to sell and convey to Purchaser Xxxxx, and Purchaser Xxxxx agrees to purchase from Seller, on subject to the terms and conditions hereinafter set forthforth herein, that certain parcel(s) of land (the "Land") owned by Seller as identified and particularly following: 2.1 The Real Property described in Exhibit "“A"” and shown on Exhibit “B”, including all mineral and subsurface rights, if any; 2.2 All rights, benefits, privileges, easements, tenements, hereditaments, and appurtenances thereto or appertaining the Real Property (all of which are collectively referred to as the “Appurtenances”), including, without limitation, the release by Seller to Buyer of that certain easement for roadway purposes described in a deed of conveyance, recorded February 18, 1946 (Book 957, Page 135) in the Book of Official Records of San Xxxxxxx County, and as conveyed to Seller in that certain xxxxx deed recorded July 10, 1946 (Book 1004, Page 100) in the Book of Official Records of San Xxxxxxx County, each attached hereto as Exhibit “C” (the Parties acknowledge and incorporated herein by this referenceagree that the additional rights and obligations set forth in that certain license agreement between Seller and Buyer, together with dated July 10, 1973, were previously abandoned and/or terminated pursuant to the following property: (a) all terms of that agreement, and reverted to the use, rights and liabilities set forth in the 1946 easement for roadway purposes); 2.3 All buildings, structures structures, and other improvements to the Real Property, including, without limitation, an approximately 3,240 square foot commercial building and adjacent accessory structures located on the Landthereon, and all fixtures improvements related thereto (collectively, the “Improvements”); 2.4 Any and appurtenances theretoall of Seller’s right, title, and interest in and to any of the following existing at the Closing: (herein collectively called the "Improvements"); (bi) all appliances assignable warranties and installed equipment owned by Seller, located at, on or guaranties issued to Seller in connection with the Improvements or Land listed in Exhibit "B" attached hereto and incorporated herein by this reference (herein collectively called the "Equipment"); (c) any portion of the Land lying in the right-of-way of any alley, passageway, street, road, highway or avenue, proposed, open, or closed, adjoining all or any part of the Land and in any and all strips, gores and rights-of-way; (d) all riparian rights, hereditament, easements and other rights, privileges and immunities appurtenant to the Land; (e) all leases, rents and profits accruing with respect to the Land's Improvements and Equipment after the ClosingImprovements; and (fii) all of the Seller's right, title and interest in all transferable (to the extent, if any, such rights are transferable) intangible property of every nature whatsoever pertaining to the Land and Improvements, including without limitation, all the Service Agreementsassignable permits, licenses, permits, escrow deposits, contract rights, instruments, claims, chooses in action, building and property names and signs, property phone numbers, booklets, manuals and transferable utility contracts, but excluding all cash, bank accounts, utility depositsapprovals, and other revenues authorizations issued by any governmental authority in connection with the Real Property (collectively, the “Intangibles”). 2.5 The Real Property, the Appurtenances, the Improvements, and income accruing prior to Closing. All of the foregoing real and personal property is Intangibles are hereinafter collectively called referred to as the "“Property".”

Property to be Purchased. In consideration of Ten Dollars ($10.00) cash in hand paid by Purchaser Buyer to Seller, the receipt and sufficiency of which are hereby acknowledged, Seller agrees to sell to Purchaser Buyer and Purchaser Buyer agrees to purchase buy from Seller, on the terms and conditions hereinafter set forth, a 228 unit garden apartment complex known as "Clarion Crossing Apartments", located in Raleigh, North Carolina, which consists of that certain parcel(s) parcel of land (the "Land") owned by Seller as identified and particularly described in Exhibit "A", attached hereto and incorporated herein by this reference, together with the following propertyall of Seller's right, title and interest in and to: (a) all buildings, structures buildings and other improvements located on the Land, and all fixtures and appurtenances thereto, thereto (herein collectively called the "Improvements"); (b) all appliances appliances, furniture, fixtures, machinery, equipment, inventories, supplies and installed equipment other tangible personal property (other than property owned by SellerTenants) located at and used in connection with the operation, located atmanagement or maintenance of the Land or the Improvements, on or subject, however, to obsolescence and consumption in the Improvements or Land listed in Exhibit "B" attached hereto ordinary course of business between the Contract Date and incorporated herein by this reference the Closing Date (herein collectively called the "Equipment"); (c) any portion of the Land lying in the right-of-way of any alley, passageway, street, road, highway or avenue, proposed, open, or closed, adjoining all or any part of the Land and in any all strips and all strips, gores and rights-of-waygores; (d) all riparian rights, hereditamenthereditaments, easements and other rights, benefits, privileges and immunities appurtenant to the Land; (e) all awards or payments for any Condemnation occurring after the Contract Date for damage to the Land or Improvements, including any damage caused by any change of grade or closing of any street, road, highway, avenue, alley or other right-of-way; (f) all leases, rents and profits accruing after Closing with respect to the Land's Improvements , Improvements, and Equipment after Equipment, including the ClosingLeases; (g) all Tenant security deposits; and (fh) all of the Seller's right, title if and interest in all transferable (to the extentextent transferable, all rights, if any, such rights are transferable) intangible property of every nature whatsoever pertaining that Seller has to use the tradename "Clarion Crossing" with respect to the Land Property (provided, however, that Seller and Improvementsits affiliates shall not be prevented from using "Clarion Crossing, including without limitation" or "Clarion" or "Crossing" in combination with other words for other apartment projects, except that Seller does agree that it will not use the name "Clarion Crossing" with respect to any other apartment project located in Raleigh, North Carolina), all the Service Agreementslicenses, licensesfranchises, permits, escrow deposits, contract rights, instruments, claims, chooses choses in action, building transferable utility contracts, surveys, blueprints, drawings, plans and property names specifications (including structural, HVAC, mechanical and signs, property phone numbersplumbing plans and specifications) Tenant lists and data, booklets, manuals and transferable utility contractspromotional and advertising materials in the possession or control of Seller, but excluding all cashwith respect to the Land, bank accounts, utility depositsImprovements, and other revenues and income accruing prior to ClosingEquipment. All of the foregoing real and personal property is hereinafter collectively called the "Property"." Notwithstanding the foregoing, there shall be specifically excluded from the definition of Property and from this sale: (x) any books, records and documents that Seller shall reasonably request to retain for income tax or regulatory purposes; and (y) all cash, bank accounts, and other revenues and income accruing prior to Closing.