EXHIBIT 10.2
FIRST AMENDMENT TO AGREEMENT FOR PURCHASE AND SALE OF REAL
PROPERTY AND ESCROW INSTRUCTIONS
THIS FIRST AMENDMENT TO AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY
AND ESCROW INSTRUCTIONS (this "Amendment") is dated as of this 12th day of
January 2007 (the "Amendment Date"), by and between NNN VF INTERWOOD, LP, a
Texas limited partnership ("Seller"); and TRIPLE NET PROPERTIES, LLC, a Virginia
limited liability company ("Buyer").
Recitals
A. Seller is the owner of that certain real property located in Xxxxxx
County, Texas (the "Property"), and more particularly described in that certain
Agreement for Purchase and Sale of Real Property and Escrow Instructions between
Seller and Buyer with an Effective Date of January 10, 2007 (the "Agreement").
B. Seller agreed to sell, and Buyer agreed to purchase, the Property in
accordance with the terms and conditions set forth in the Agreement.
C. Seller and Buyer desire to amend the Agreement as set forth herein.
Agreement
NOW, THEREFORE, in consideration Ten and No/100 Dollars ($10.00) cash in
hand, the agreements contained herein and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereby
agree as follows:
1. Modification of Section 2.1. Section 2.1 of the Agreement is hereby
deleted and replaced with the following Section 2.1:
"2.1 Deposit/Further Payments/Down Payment.
Within three (3) business days of the Effective Date, Buyer shall
deposit into Escrow the amount of Two Hundred Thousand and No/100
Dollars ($200,000.00) (the "Deposit"), in the form of a wire transfer
payable to LandAmerica Commercial Services, 0000 Xxxx Xxxxxx, 00xx
Xxxxx, Xxxxxx, XX 00000, Attn: Xxxx Xxxx, Telephone (000) 000-0000
("Escrow Holder"). Escrow Holder shall place the Deposit into an
interest bearing money market account at a bank or other financial
institution reasonably satisfactory to Buyer, and interest thereon
shall be credited to Buyer's account."
2. Counterparts; Electronic Transmission of Signatures. This Amendment may
be executed in counterparts, each of which shall be deemed to be an original,
but all of which shall constitute one and the same instrument. The submission of
a signature page transmitted by facsimile (or similar electronic transmission
facility) shall be considered as an "original" signature page for purposes of
this Amendment.
3. Defined Terms. Except as expressly provided in this Amendment, all
capitalized terms have the meaning(s) assigned in the Agreement.
4. Ratification. Except as provided herein, the parties hereto acknowledge
and agree that the Agreement is unmodified and remains in full force and effect
and the parties hereby ratify and affirm the same.
[Signatures to Follow on Next Page]
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of
the day and year above written.
SELLER: NNN VF INTERWOOD, LP,
a Texas limited partnership
By: NNN VF Interwood GP, LLC,
a Texas limited liability company,
its General Partner
By: Triple Net Properties, LLC
a Virginia limited liability
company, its Manager
By: /s/ Xxxx Xxxxxx
------------------------------------
Name: Xxxx Xxxxxx
Title: Managing Director of Real Estate
BUYER: TRIPLE NET PROPERTIES, LLC
a Virginia limited liability company
By: /s/ Xxxx Xxxxxx
------------------------------------
Name: Xxxx Xxxxxx
Title: Managing Director of Real Estate
