ASSIGNMENT OF PURCHASE AND SALE AGREEMENT
Exhibit 10.1
THIS ASSIGNMENT OF PURCHASE AND SALE AGREEMENT dated September 25, 2014, is made by and between Xxxxxxx Interests, LLC, a Virginia limited liability company, (the “Assignor”), and WHLR-Xxxxx Station LLC, a Delaware limited liability company (the “Assignee”).
Background:
A. Assignor and ERP Xxxxx Station, LLC, a Delaware limited liability company (the “Seller”) previously entered into a Purchase and Sale Agreement, dated July 30, 2014 (the “Agreement”), with respect to the purchase of a shopping center site located at Lexington, Kentucky;
B. Assignor desires to assign the Agreement to Assignee, and Assignee desires to accept the assignment;
Agreement:
For and in consideration for the sum of One Dollar ($1.00) cash in hand paid and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, Assignor hereby assigns all of its rights and delegates all of its obligations under the Agreement to Assignee, including all rights to any xxxxxxx money deposit or other payment, and Assignee hereby accepts the assignment of the rights of Assignor under the Agreement and assumes all of the obligations and liabilities of Assignor under the Agreement.
(Signature Page Follows)
In Witness Whereof, the parties have executed this Assignment as of the 25th day of September, 2014.
ASSIGNOR:
Xxxxxxx Interests, LLC
a Virginia limited liability company
By: /s/ Xxx X. Xxxxxxx
Xxx X. Xxxxxxx, its Managing Member
ASSIGNEE:
WHLR-Xxxxx Station, a Delaware limited liability company
By: /s/ Xxx X. Xxxxxxx
By Xxx X. Xxxxxxx, its Manager
