Cornerstone Realty Fund LLC Sample Contracts

R E C I T A L S
Escrow Agreement • June 22nd, 2001 • Cornerstone Realty Fund LLC • Operators of nonresidential buildings • California
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FORM OF
Cornerstone Realty Fund LLC • April 18th, 2000 • Operators of nonresidential buildings
FORM OF PARTICIPATING BROKER AGREEMENT ------------------------------
Cornerstone Industrial Properties Income & Growth Fund LLC • February 4th, 2000 • Operators of nonresidential buildings
BUSINESS LOAN AGREEMENT
Business Loan Agreement • March 17th, 2011 • Cornerstone Realty Fund LLC • Operators of nonresidential buildings • California

THIS BUSINESS LOAN AGREEMENT dated November 19, 2010, is made and executed between CORNERSTONE REALTY FUND, LLC (“Borrower”) and Farmers & Merchants Bank of Long Beach , a CA Corp (“Lender”) on the following terms and conditions. Borrowers has received prior commercial loans from Lender or has applied to Lender for a commercial loan or loans or other financial accommodations, including those which may be described on any exhibit or schedule attached to this Agreement. Borrower understands and agrees that: (A) in granting, renewing, or extending any Loan, Lender is relying upon Borrower’s representations. Warranties, and agreements as set forth in this Agreement; (B) the granting, renewing or extending of any Loan by Lender at all times shall be subject to Lender’s sole judgment and discretion; and (C) all such Loans shall be and remain subject to the terms and conditions of this Agreement.

FORM OF DEALER-MANAGER AGREEMENT
Cornerstone Industrial Properties Income & Growth Fund LLC • April 20th, 1999
FORM OF PARTICIPATING BROKER AGREEMENT
Cornerstone Realty Fund LLC • June 22nd, 2001 • Operators of nonresidential buildings
CORNERSTONE REALTY FUND, LLC A CALIFORNIA LIMITED LIABILITY COMPANY OPERATING AGREEMENT (AMENDED AND RESTATED)
Operating Agreement • May 14th, 2010 • Cornerstone Realty Fund LLC • Operators of nonresidential buildings • California

THIS OPERATING AGREEMENT, made effective July 19, 2001 and amended and restated effective as of June 30, 2003, is among Cornerstone Industrial Properties, LLC, a California limited liability company, Terry G. Roussel, and the Persons executing this Agreement as members of the Fund and those Persons who will hereafter be admitted as members upon acceptance by the Managing Member of an executed Subscription Agreement pursuant to which such parties accept and adopt the provisions of this Operating Agreement (the “Members”), who agree as follows:

TO: First American Title Insurance Company Escrow No.
Agreement of Purchase and Sale and Joint Escrow Instructions • June 29th, 2006 • Cornerstone Realty Fund LLC • Operators of nonresidential buildings • California

THIS AGREEMENT OF PURCHASE AND SALE AND JOINT ESCROW INSTRUCTIONS (this “Agreement”) is made and entered into as of this 16th day of June, 2006 (the “Contract Date”) by and between FIRST INDUSTRIAL HARRISBURG, L.P., a Delaware limited partnership (“Seller”), and CORNERSTONE REALTY FUND, L.L.C., a California limited liability company (“Purchaser”).

FORM OF DEALER-MANAGER AGREEMENT
Cornerstone Realty Fund LLC • June 14th, 2000 • Operators of nonresidential buildings
SECOND AMENDMENT TO PURCHASE AND SALE AGREEMENT
Purchase and Sale Agreement • November 14th, 2011 • Cornerstone Realty Fund LLC • Operators of nonresidential buildings

THIS SECOND AMENDMENT TO PURCHASE AND SALE AGREEMENT (this “Amendment”) is dated this 4th day of October, 2011 between CORNERSTONE REALTY FUND, LLC, a California limited liability company (“Seller”) and REXFORD INDUSTRIAL FUND V, L.P., a Delaware limited partnership (“Purchaser”).

FOURTH AMENDMENT TO PURCHASE AND SALE AGREEMENT
Purchase and Sale Agreement • November 14th, 2011 • Cornerstone Realty Fund LLC • Operators of nonresidential buildings

THIS FOURTH AMENDMENT TO PURCHASE AND SALE AGREEMENT (this “Amendment”) is entered into effective as of October 31, 2011, by and between Cornerstone Realty Fund, LLC, a California limited liability company (“Seller”) and Rexford Industrial Fund V, LP, a Delaware limited partnership (or its assignee, “Purchaser”), with reference to the following facts and circumstances:

FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT
Purchase and Sale Agreement • November 14th, 2011 • Cornerstone Realty Fund LLC • Operators of nonresidential buildings

THIS FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT (this “Amendment”) is dated this 30th day of September, 2011 between CORNERSTONE REALTY FUND, LLC, a California limited liability company (“Seller”) and REXFORD INDUSTRIAL FUND V, L.P., a Delaware limited partnership (“Purchaser”).

FIFTH AMENDMENT TO PURCHASE AND SALE AGREEMENT
Purchase and Sale Agreement • November 14th, 2011 • Cornerstone Realty Fund LLC • Operators of nonresidential buildings

THIS FIFTH AMENDMENT TO PURCHASE AND SALE AGREEMENT (this “Amendment”) is entered into effective as of November 4, 2011, by and between Cornerstone Realty Fund, LLC, a California limited liability company (“Seller”) and Rexford Industrial Fund V, LP, a Delaware limited partnership (or its assignee, “Purchaser”), with reference to the following facts and circumstances:

ESCROW AGREEMENT
Escrow Agreement • August 8th, 2003 • Cornerstone Realty Fund LLC • Operators of nonresidential buildings • California

This Escrow Agreement (“Agreement”) is entered into as of __________, 2003 by and among U.S. Bank National Association (the “Escrow Agent”), Cornerstone Realty Fund, LLC, a California limited liability company (the “Fund”) and Pacific Cornerstone Capital, Incorporated, a California corporation (the “Dealer Manager”).

LIQUIDATING TRUST AGREEMENT Dated as of February 27, 2012 by and among Cornerstone Realty Fund, LLC individually as Grantor and Cornerstone Industrial Properties, LLC as Managing Trustee
Liquidating Trust Agreement • February 28th, 2012 • Cornerstone Realty Fund LLC • Operators of nonresidential buildings • California

This LIQUIDATING TRUST AGREEMENT (this “Agreement”), dated as of February 27, 2012 (the “Effective Date”), by and between Cornerstone Realty Fund, LLC, a California limited liability company, as Grantor (the “Fund”) and Cornerstone Industrial Properties, LLC, a California limited liability company, as Managing Trustee (the “Managing Trustee”).

AMENDMENT NO. 1 TO AMENDED AND RESTATED OPERATING AGREEMENT OF CORNERSTONE REALTY FUND, LLC
Operating Agreement • March 22nd, 2007 • Cornerstone Realty Fund LLC • Operators of nonresidential buildings

This Amendment No. 1 (this “Amendment”) to the Operating Agreement of Cornerstone Realty Fund, LLC (the “Fund”), made effective as of July 19, 2001 and amended and restated effective as of June 30, 2003 (the “Operating Agreement”), is made is effective as of February 22, 2007 among Cornerstone Industrial Properties, LCC, a California limited liability company, and the Members of the Fund.

FORM OF
Cornerstone Industrial Properties Income & Growth Fund LLC • February 4th, 2000 • Operators of nonresidential buildings
PURCHASE AND SALE AGREEMENT By and between CORNERSTONE REALTY FUND, LLC as Seller, and REXFORD INDUSTRIAL FUND V, L.P. as Purchaser September 1, 2011
Purchase and Sale Agreement • September 12th, 2011 • Cornerstone Realty Fund LLC • Operators of nonresidential buildings • California

THIS PURCHASE AND SALE AGREEMENT is made as of September 1, 2011, by and between CORNERSTONE REALTY FUND, LLC, a California limited liability company (the “Seller ”), and REXFORD INDUSTRIAL FUND V, L.P., a Delaware limited partnership (the “Purchaser”).

PARTICIPATING BROKER AGREEMENT
Broker Agreement • August 8th, 2003 • Cornerstone Realty Fund LLC • Operators of nonresidential buildings

Cornerstone Realty Fund, LLC, a California limited liability company (the “Fund”), and its managing member, Cornerstone Industrial Properties, a California limited liability company (“Managing Member”), propose to offer and sell to selected persons or entities acceptable to the Managing Member, upon the terms and subject to the conditions set forth in the enclosed Prospectus, up to 74,000 units of limited liability company interests relating to the Fund (“Units”) aggregating a maximum of $37,000,000, in the minimum number of five Units (two Units for Tax-Qualified Retirement Plans), and to enter into the Operating Agreement in the form included in such Prospectus as Exhibit “A” (the “Operating Agreement”) with such persons or entities.

SIXTH AMENDMENT TO PURCHASE AND SALE AGREEMENT
Purchase and Sale Agreement • November 14th, 2011 • Cornerstone Realty Fund LLC • Operators of nonresidential buildings

THIS SIXTH AMENDMENT TO PURCHASE AND SALE AGREEMENT (this “Amendment”) is entered into effective as of November 8, 2011, by and between Cornerstone Realty Fund, LLC, a California limited liability company (“Seller”) and Rexford Industrial Fund V, LP, a Delaware limited partnership (or its assignee, “Purchaser”), with reference to the following facts and circumstances:

FORM OF DEALER-MANAGER AGREEMENT
Cornerstone Realty Fund LLC • June 22nd, 2001 • Operators of nonresidential buildings
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THIRD AMENDMENT TO PURCHASE AND SALE AGREEMENT
Purchase and Sale Agreement • November 14th, 2011 • Cornerstone Realty Fund LLC • Operators of nonresidential buildings

THIS THIRD AMENDMENT TO PURCHASE AND SALE AGREEMENT (this “Amendment”) is entered into effective as of October 11, 2011, by and between Cornerstone Realty Fund, LLC, a California limited liability company (“Seller”) and Rexford Industrial Fund V, LP, a Delaware limited partnership (or its assignee, “Purchaser”), with reference to the following facts and circumstances:

PURCHASE AND SALE AGREEMENT By and between CORNERSTONE REALTY FUND, LLC as Seller, and BIRTCHER ANDERSON REALTY, LLC as Purchaser June 1, 2011
Purchase and Sale Agreement • August 15th, 2011 • Cornerstone Realty Fund LLC • Operators of nonresidential buildings • California

THIS PURCHASE AND SALE AGREEMENT is made as of June 1, 2011, by and between CORNERSTONE REALTY FUND, LLC, a Maryland limited liability company (the “Seller”), and BIRTCHER ANDERSON REALTY, LLC, a Delaware limited liability company (the “Purchaser”).

DEALER-MANAGER AGREEMENT
Manager Agreement • August 8th, 2003 • Cornerstone Realty Fund LLC • Operators of nonresidential buildings

Cornerstone Realty Fund, LLC, a California limited liability company (the “Fund”), and its managing member, Cornerstone Industrial Properties, LLC, a California limited liability company (the “Managing Member”), propose to offer and sell to selected persons or entities acceptable to the Managing Member, upon the terms and subject to the conditions set forth in the enclosed Prospectus, up to 74,000 units of limited liability company interest (“Units”) aggregating a maximum of $37,000,000, and to enter into the Operating Agreement in the form included in such Prospectus as Exhibit “A” (“Operating Agreement”) with such persons or entities.

AMENDMENT TO AGREEMENT OF PURCHASE AND SALE
Agreement of Purchase and Sale • June 29th, 2006 • Cornerstone Realty Fund LLC • Operators of nonresidential buildings

This Amendment to Agreement of Purchase and Sale (this “Amendment”) is made and entered into as of this 19th day of June, 2006 between FIRST INDUSTRIAL HARRISBURG, L.P., a Delaware limited partnership (“Seller”), and CORNERSTONE REALTY FUND, L.L.C., a California limited liability company (“Purchaser”).

CORNERSTONE REALTY FUND, LLC FORM OF DEALER-MANAGER AGREEMENT ------------------------
Cornerstone Realty Fund LLC • April 18th, 2000 • Operators of nonresidential buildings
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